Replacement, Dominance and Recession of Dollar

Akram, Muhammad; Mughal, Muhammad Muazzam; Amin, Fatima; Farooqui, Ayesha
July 2011
Far East Journal of Psychology & Business;Jul2011, Vol. 4 Issue 1, p17
Academic Journal
Dollar is considered as dominant reserve currency all over the world. Literature gives a view of the whole life of dollar from its dominance till recession. Despite of financial ups and downs, dollar maintains its status for many years, as a reserve currency and as prominent currency in the settlement of international trade transaction. But now hyperinflationary forces and low economic growth rate makes the dollar susceptible to depression. The study attempts to analyze the proposed status of dollar in the presence of its pronounced competitors.


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