A clerk poses with US greenback banknotes at a cash changer in Jakarta on Might 2, 2024. (Photograph by ADEK BERRY / AFP) (Photograph by ADEK BERRY/AFP by way of Getty Pictures)
ADEK BERRY/AFP by way of Getty Pictures
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ADEK BERRY/AFP by way of Getty Pictures
A clerk poses with US greenback banknotes at a cash changer in Jakarta on Might 2, 2024. (Photograph by ADEK BERRY / AFP) (Photograph by ADEK BERRY/AFP by way of Getty Pictures)
ADEK BERRY/AFP by way of Getty Pictures
For many years, {dollars} have been the world’s frequent monetary language. Central banks in every single place maintain {dollars} as a method to safely retailer their wealth. International locations, companies, and folks use it to commerce; round 90% of all international alternate transactions contain {dollars}. It is the world’s cash, the world’s “reserve forex.”
However what if that’s altering? What if the world stops seeing the greenback as protected?
In the present day on the present, what’s a “reserve forex”? Why is it the greenback? And if the greenback falls from favor, what’s going to substitute it?
This episode of Planet Cash was produced by Emma Peaslee with assist from James Sneed. It was edited by Marianne McCune with truth checking assist from Sierra Juarez. It was engineered by Kwesi Lee. Alex Goldmark is our government producer.
The Dollar Trap by Eswar Prasad
Exorbitant Privilege by Barry Eichengreen
Our Dollar. Your Problem by Ken Rogoff
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Music: NPR Supply Audio – “Digital Machine,” “Pretend Blood” and “Profitable Secrets and techniques”
