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US dollar to remain main global currency, says IMF
The chief of the International Monetary Fund believes the US dollar will maintain its dominance in the currency world despite speculations that it will be soon substituted by the euro or Chinese yuan. "The US currency is going to remain the main currency in my opinion for a long period of time, even if it's challenged by some others," Dominique Strauss-Kahn told the Hong Kong Trade Development Council on Wednesday, AFP reported. Strauss-Kahn called on China to raise the value of its currency, to ease criticisms alleging that Beijing keeps its unit artificially low. Meanwhile, the IMF managing director noted that the international economy would not face a so-called "double-dip" recession, though he described the pace of recovery as sluggish. "Our view is not one of a double-dip," Strauss-Kahn said. "It doesn't mean the probability is zero or that it cannot happen, but it's not our preferred scenario and I don't believe that will be the case." Strauss-Kahn is due to make a keynote address at the Asian Financial Forum next week. Posted by: Fred 2010-01-14 |
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