reserve currency

The long term isn't looking good for the greenback: Central bank managers don't see it keeping its status as the world's reserve currency. The short term's not looking so hot for the U.S. economy either: Housing prices are down another 4% year over year, and confidence is falling.

Earlier this year, the Utah state legislature passed a law making gold and silver coins legal tender. Now, a Salt Lake City-area numismatist hopes to set up a depository system that will allow Utahans to use gold and silver to pay for anything they want.

Fear is in the air on Wall Street. Unemployment is high, housing sales are sluggish and the dollar is weak. Now, to add insult to injury, Standard & Poor's has lowered its U.S. debt outlook to negative, putting the nation's AAA credit rating at risk. Fortunately, smart traders can benefit from these worries.

For a host of reasons, other countries would love to free their economies from the stranglehold of the U.S. dollar's influence, especially now, when the Fed's stimulus actions are pushing the dollar lower, and everything else higher. Global finance expert Peter Cohan has a simple answer: The Mondo.

Indian Prime Minister Manmohan Singh threw his support behind the U.S. dollar as the world's reserve currency and took an upbeat view of the U.S. economy in an interview on CNN's Sunday talk show GPS. The statements come as Singh prepares for a state dinner hosted by President Obama in Washington,...

Before one starts composing a eulogy for the U.S. dollar, it pays to make two distinctions: 1) There's a difference between the dollar's decline and a collapse. 2) Any move away from the dollar as the world's reserve currency must include a credible replacement for it. True, the dollar on...

China's leaders make no secret of the thinking behind their well-publicized moves to diversify their county's massive foreign exchange reserves away from the U.S. dollar. Being so dependent on the greenback's value is simply imprudent, they say, given the size of their reserves -- some $2.1...

Japan's new finance minister, Yasutake Tango, told financial newspapers that Japan will keep buying U.S. Treasuries and supporting the dollar's status, according to reports in both The Wall Street Journal and Bloomberg. The tune could change though if Masaharu Nakagawa, the shadow finance minister...

The White House has reassured investors that the dollar will remain the world's reserve currency. "Despite whatever talk you might have heard, I don't see that there is movement away from the notion of the dollar being that currency," White House spokesman Robert Gibbs told reporters Thursday at...

One of the world's most influential investors has given the dollar a solid endorsement amid the market's ongoing seesaw between risk and risk aversion. Billionaire investor George Soros said the dollar will remain the world's reserve currency for a while. "I think the dollar is the dominant...