| The U.S. dollar is indisputably the world's reserve currency. It comprises the majority (62%) of foreign exchange reserves held by central banks, with the euro a distant second, accounting for 24% of reserves.
And despite concerns that the Federal Reserve's quantitative easing programs are debasing the dollar, perhaps throwing its reserve status into question, BofA Merrill Lynch strategist John Shin argues that "there still has not been much diminishment in the U.S. dollar's role," which is "likely to remain unchanged for the time being, especially given the lack of external competitors that could supplant the dollar."..............................................Full Article: Source
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