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- Title
The global role of the US dollar and its consequences.
- Authors
Eguren Martin, Fernando; Mukhopadhyay, Mayukh; van Hombeeck, Carlos
- Abstract
The article focuses on the importance of the U.S. dollar in the international scene and discusses its implications. It is stated that global acceptance of the U.S. dollar for trade transactions between non-U.S. countries means it has achieved "reserve currency" status and widely used as a store of wealth. It also presents a chart showing average real GDP growth reaction in emerging market economies to a 10 percent U.S. dollar appreciation.
- Subjects
U.S. dollar; GROSS domestic product; INTERNATIONAL trade; FOREIGN exchange; ECONOMIC indicators
- Publication
Bank of England Quarterly Bulletin, 2017, Vol 57, Issue 4, p5
- ISSN
0005-5166
- Publication type
Article