Moody’s assures US dollar will keep its dominance for decades

(MENAFN) Based on Moody’s Investor rating agency, the United States dollar’s supremacy in international exchange and finance will continue for decades in spite of the difficulties, as there are no feasible substitutes in the meantime.

The agency`s experts reported in a note in the past week “we expect a more multipolar currency system to emerge over the next few decades, but it will be led by the greenback because its challengers will struggle to replicate its scale, safety and convertibility in full.”

In line with the rating agency, the multi-decade descends in the dollar’s stake of central bank assets and raising geopolitical pressures are between the matters that might endanger the US dollar international dominance.

IMF figures indicates that the dollar’s share of official FX funds dropped to its lowest amount in 20 years standing at 58 percent in the last three months of 2022, decreasing from about 78 percent at the beginning of the century.


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