Why dollar will remain dominant

Although the US dollar's share in global reserves has declined over the years, and attempts are being made to popularise other currencies, there has been no real threat to its dominance.

“The dollar’s reign is coming to an end. I believe that over the next 10 years, we’re going to see a profound shift toward a world in which several currencies compete for dominance,” noted economist Barry Eichengreen in a March 2011 column published in The Wall Street Journal. His book Exorbitant Privilege: The Rise and Fall of the Dollar, also published in the same year, dealt with the issue in greater detail. The actual outcome clearly has not been as predicted. Although the US dollar’s share in global reserves has declined over the years, and attempts are being made to