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U.S. Currency - Essay Example

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Because of this, the US Currency is taken as a benchmark amongst the world’s financial markets. It suggests how well the US Currency is and how it has been able to shape up its own self within the…
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U.S. Currency
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ID Lecturer U.S. Currency The US Currency circulating worldwide is a good omen for the US economy. Because of this, the US Currency is taken as a benchmark amongst the world’s financial markets. It suggests how well the US Currency is and how it has been able to shape up its own self within the world’s changing market dynamics.
One should believe that it is a good thing that the other countries are making use of the US Currency. This has helped it to take the lead within the different nations of the world and made it stand in a league of its own. The Japanese Yen and the Chinese Yuan are comparing well with the US Dollar but have not been able to give such a tough time to the US Currency (Pinaud, 2011).
The reason why there are so many US dollars within foreign countries largely depends on the fact that the US Currency is being seen as a global parallel with all other currencies. It gives the world a uniform currency which it direly requires (Petersen, 2010). The people can easily compare their own currency and the other currencies of the world in the light of the US Currency which depicts its truly unique nature.
I do not anticipate a day where the US dollar would lose its status as the reserve currency of the world. This is because it is not going to happen anytime soon. Yet the risk is there because both China and Japan are strengthening their respective currencies in a swift way. However, for now the US Currency is well in tact and is easily seen as the reserve currency of the world.
References
Petersen, K. (2010). World money: From the Eurodollar to the Sinodollar. Research in Political Economy 26
Pinaud, N. (2011). Pricing the Currency Premium Under Flexible Exchange Rates. Contemporary Studies in Economic and Financial Analysis 93 Read More
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