1、 https:/crsreports.congress.gov December 18, 2020The U.S. Dollar as the Worlds Dominant Reserve CurrencyThe U.S. dollar is the worlds dominant reserve currency, among other such currencies including the euro, the yen, the pound, the renminbi (RMB), the Canadian dollar, the Swiss franc, and the Austr
2、alian dollar. A reserve currency is a currency held by central banks in significant quantities. It is widely used to conduct international trade and financial transactions, eliminating the costs of settling transactions involving different currencies. The dollar has functioned as the worlds dominant
3、 reserve currency since World War II. Today, central banks hold about 60% of their foreign exchange reserves in dollars (Figure 1). About half of international trade is invoiced in dollars, and about half of all international loans and global debt securities are denominated in dollars. In foreign ex
4、change markets, where currencies are traded, dollars are involved in nearly 90% of all transactions. The dollar is the preferred currency for investors during major economic crises, as a “safe haven” currency. During the global financial crisis of 2008-2009, for example, and amidst the economic turm
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