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

The dollar is an international currency — a common denomination for global business.  Yasin Akgul/AFP/Getty Images

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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. 

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