How strong is the U.S. dollar’s position as a reserve currency?

Kimberly Adams Aug 15, 2018
HTML EMBED:
COPY
The dollar is an international currency — a common denomination for global business.  Yasin Akgul/AFP/Getty Images

How strong is the U.S. dollar’s position as a reserve currency?

Kimberly Adams Aug 15, 2018
The dollar is an international currency — a common denomination for global business.  Yasin Akgul/AFP/Getty Images
HTML EMBED:
COPY

Russian officials were in Turkey on Tuesday, talking with the government there about possible solutions for Turkey’s currency crisis. Both countries are also facing U.S. sanctions, so one idea they floated: Stick to their own national currencies for trade and avoid using the dollar at all. On top of that, Russian Foreign Minister Sergey Lavrov echoed statements from President Vladimir Putin that the United States is “abusing” its role as a global reserve currency. 

Click the audio player above to hear the full story. 

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.