‘Long time, if ever’ before dollar replaced as key global currency – Yellen

2022.04.13 18:27

FILE PHOTO: A woman walks past a board showing the U.S. dollar sign in a street in Saint Petersburg, Russia February 28, 2022. REUTERS/Anton Vaganov/File Photo

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said it would be “a long time, if ever” before the U.S. dollar was replaced as the key reserve currency in the global economy.

The dollar’s dominance as a means of exchange is fundamentally due to the strength of the U.S. economy, financial system and confidence in U.S. financial markets, Yellen said at an event hosted by the Atlantic Council think tank.

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