BIS Chief Denies US Dollar Decline Threatens Its Status as World's Primary Reserve Currency

BlockBeats News, July 4th, U.S. Treasury Secretary Benson refuted the notion that the recent depreciation of the U.S. dollar would affect its status as the world's primary reserve currency. Benson said this week: "The price of the dollar has nothing to do with a strong dollar policy. The key to a strong dollar policy is whether we are taking steps over the long term to ensure that the dollar remains the global reserve currency." He believes that the Trump administration is indeed taking such steps.

The U.S. Dollar Index fell nearly 11% in the first half of the year, marking its worst first half performance since 1973. This depreciation occurred against the backdrop of concerns about the Trump administration's policies, particularly the potential impact of tariff increases on economic growth and the administration's tough diplomatic stance towards long-standing allies who have historically invested in the United States. Benson stated that the Republican tax bill "created conditions for economic growth." (Golden Finance)