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The East Caribbean dollar is pegged to the dollar at a fixed rate of 2.7:1, and is used by all of the countries and territories of the OECS other than the British Virgin Islands. In Lebanon, one dollar is equal to 15000 Lebanese pounds, and is used interchangeably with local currency as de facto legal tender. [22]
A strong dollar is recognized to have many benefits but also potential downsides. Domestically in the US, the policy keeps inflation low, encourages foreign investment, and maintains the currency's role in the global financial system. [2] [3] Globally, a strong dollar is thought to be harmful for the rest of the world. [4]
Russia sanctions, Chinese central bank policy are reopening long debate over the future of dollar dominance.
Keynes had argued against the dollar having such a central role in the monetary system, and suggested an international currency called bancor be used instead, but he was overruled by the Americans. Towards the end of the Bretton Woods era, the central role of the dollar became a problem as international demand eventually forced the US to run a ...
A stronger dollar could suppress global trade and complicate inflation abroad, a think tank researcher said. "Without much scope for a negotiated decline in the dollar, more chaotic alternatives ...
Digital currency will help the US dollar maintain its power and underpin a new infrastructure for transactions and exchanges, Circle CEO and co-founder Jeremy Allaire told Yahoo Finance at the ...
Alternatives to international trade that address this tension include direct transfer of dollars via foreign aid and swap lines. The Triffin dilemma is usually cited to articulate the problems with the role of the U.S. dollar as the reserve currency under the worldwide Bretton Woods system established in 1944.
The International Monetary Fund, 1966–1971: The System Under Stress. Washington: International Monetary Fund. ISBN 978-0-939934-11-9. Eichengreen, Barry (2011). Exorbitant privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System. Oxford: Oxford University Press. ISBN 978-0-19-959671-3. Forbes, Kristin J ...