❗Help close the gap: We still need to raise $40,000 by the end of March. Donate now

How strong is the U.S. dollar’s position as a reserve currency?

Kimberly Adams Aug 15, 2018
HTML EMBED:
COPY
The dollar is an international currency — a common denomination for global business.  Yasin Akgul/AFP/Getty Images

How strong is the U.S. dollar’s position as a reserve currency?

Kimberly Adams Aug 15, 2018
The dollar is an international currency — a common denomination for global business.  Yasin Akgul/AFP/Getty Images
HTML EMBED:
COPY

Russian officials were in Turkey on Tuesday, talking with the government there about possible solutions for Turkey’s currency crisis. Both countries are also facing U.S. sanctions, so one idea they floated: Stick to their own national currencies for trade and avoid using the dollar at all. On top of that, Russian Foreign Minister Sergey Lavrov echoed statements from President Vladimir Putin that the United States is “abusing” its role as a global reserve currency. 

Click the audio player above to hear the full story. 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.