despite-pressures-us-dollar-remains-key-currency

Despite pressures, US dollar remains key currency

The US dollar remains the world's most accepted currency by most measures.

S&P Global Ratings

November 13, 2007

This position has been retained despite the growing acceptance of the euro since its inception in 1999 and its encroachment on the US dollar's share in certain markets, and despite recent depreciation in the US dollar vis-a-vis its chief competitor. The 'AAA' long-term issuer credit rating on the United States of America rests on this position of the dollar as a key international currency. Without this, the US would not have such ready access to external financing interest rates would have to rise to attract higher domestic savings and growth would slow well below potential. The US dollar did not attain this position by accident, nor does the US maintain it simply with inertia. This...

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