[30 May 13] US dollar losing hold as world currency - English

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Presstv   Press   TV   News   channel   channels   Press   TV   30   May   2013   US   dollar   losing   hold   as   worlds   currency  

With each year the American dollar is shrinking in percentage as the world\\\\\\\'s currency supply. The implications could mean a serious decrease in the dollar\\\\\\\'s influence as countries around the world look for alternatives. When compared to other prominent world currencies, the dollar has been experiencing a 15-year low. That\\\\\\\'s according to the International Monetary Fund. And, this indicates that more countries are willing to use other forms of currencies to do business. Experts say it\\\\\\\'s a fault of the US banking system and the Federal Reserve. If the dollar weakens in influence worldwide, it will be harder for the US to print money and pay its debts. In addition, looming battles over budget sequestration in Washington could rekindle long-standing fears of fiscal stability. Colin Campbell, Press TV, Washington

Added by PTV on 31-05-2013
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