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International finance

Who chooses the global reserve currency?

By John Schroy, on May 23rd, 2009 | 2 comments
An alternate

Who determines the ‘world reserve currency’? Central bankers? IMF officials? College professors?

The answer is ‘none of the above’. In an open, global economy, the world reserve currency is determined by the judgment of millions of importers and exporters in many countries.

The world reserve currency is decided by consensus and the personal decisions of exporters as to what currency they will accept for their goods.

On this basis, it’s too early to count the dollar out.

May 23rd, 2009 | Print Article | Email Article Email Article | Topics: , , , , , , , , , , , , , , , , , | Category: World Economy | 2 comments | Short url

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2010-11-15 10:33