The US dollar has emerged as one of the strongest global currencies, holistically conquering its contemporaries. The American currency has emerged victorious among all, defeating nearly 150 currencies on a global level. 

Despite encountering several economic bumps and criticisms, the greenback’s dominance is shining as brightly as it was in the 2000s as experts weigh in on what makes it the king of all currencies. 

Also Read: Currency: What’s Happening With The US Dollar & Pakistani Rupee?

The US Dollar Continues To Gain Strength, Mirroring Its 2000’s Robustness and Power

Source: AFP

Despite the paralyzing criticism and scrutiny that the US dollar usually receives, the currency mechanisms point towards its acute robustness and strength as it continues to thrive. Per NYT, the greenback is showing signs of progress by mimicking its earlier power surge of the 2000s.

“Every major currency in the world has fallen against the US dollar this year.” The dollar is about as strong as it was in the early 2000s.” 

The platform further noted how the Federal Reserve’s stance on rate cuts has played an elemental role in strengthening the currency. In recent months, the US has reported a staggering inflow of funds, projecting its lucrative aspect to foreign investors.

The narrative has eventually picked up pace, compelling buyers to purchase dollars to participate and explore the US markets to the fullest. This development has borne fruit, adding more resilience to the currency’s overall prestige and supremacy. 

NYT: “Every major currency in the world has fallen against the US dollar this year.”

The dollar is about as strong as it was in the early 2000s.

The endless humiliation of the America haters continues. pic.twitter.com/BbDEQq7S2b

— Richard Hanania (@RichardHanania) April 30, 2024

The USD & Its Foes

Despite the stellar rise of the US dollar, the currency is often challenged by global budding economies. As the multi-polar concept gains prevalence in space, the US greenback is now being contested for supremacy in this space. With China & Russia echoing calls to ditch USD, the US dollar continues to waver but has shown resilience on all fronts. 

$260 billion worth of trade between China and Russia this year… but almost no US dollar will be used!

It will be 95% Chinese yuan and Russian ruble. Maybe some Euros involved.

This dedollarization will soon be replicated among all BRICS+ members. pic.twitter.com/THDcdMukCB

— S.L. Kanthan (@Kanthan2030) April 23, 2024

Also Read: Chinese Yuan Threatens To Uproot the US Dollar

Similarly, the dollar stands at a precarious threshold with BRICS nations working on introducing their currencies. However, with the current market antics supporting the USD, it may take a while to bulldoze its prominence in the space. 

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