Abstract
Despite the US Dollar (USD) providing the basis for the Bretton Woods system of pegged exchange rates, it has remained the world’s reserve currency. However, the supremacy of the USD as an international reserve currency has been questioned and challenged following the global financial crisis of 2008–09, just as it had been on three other notable occasions in the past: during the 1960s when gold reserves were running short, in the 1980s when Japan was a rising star and in the late 1990s when the Euro came into existence. Each time, though, the “USD standard” has proved to be very resilient.
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© 2011 Ramkishen S. Rajan and Sasidaran Gopalan
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Gopalan, S. (2011). Will the US Dollar Remain the Single Global Currency?. In: Emerging Asia. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230306271_3
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DOI: https://doi.org/10.1057/9780230306271_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-31562-8
Online ISBN: 978-0-230-30627-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)