Monday February 17, 2020

Doubting the almighty dollar

The US currency’s continued primacy in the global market should not be taken as a given, as change can happen overnight

7th July, 2019
3
The dollar currently accounts for about 66 per cent of global currency reserves, down from 72 per cent in 2000 Picture: Getty

In an event that was largely ignored by the international media, in March the Chinese authorities sold about $20 billion of short-dated US bonds. There would normally be nothing unusual about this – the Chinese buy and sell US treasuries all the time to maintain stable yuan exchange rates against the dollar.

This sale, however, happened when the exchange rate was stable. It came after the Chinese declined to participate in one of the regular US...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

A Sinn Féin-led government would have many implications for the country, from tax on banks to the housing market to a border poll

Ian Guider | 1 day ago

Refusing to discuss Irish unity no longer makes any sense for the DUP –talking about a united Ireland is not the same as supporting it

Deirdre Heenan | 1 day ago

Varying interests will be lining up to fight their corner as Europe aims to reorganise and reinvent economic supply chains to ‘reconcile the economy with our planet’

Daniel Murray | 2 months ago