Bessent: Dollar accounts for 89.2% of forex trades, reserve status strong
U.S. Treasury Secretary Bessent stated at a congressional hearing that the dollar's status as a global reserve currency remains strong, with dollar transaction volumes rising. He reported that the dollar accounts for 89.2% of global foreign exchange transactions and that foreign holdings of U.S. assets are substantial, reflecting confidence in U.S. credibility and policy certainty under the current administration.
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U.S. Treasury Secretary Bessent Says Dollar Accounts for 89.2% of Global Forex Transactions
U.S. Treasury Secretary Bessent stated that the U.S. dollar accounts for 89.2% of global foreign exchange transactions, highlighting its dominant role in international finance. He also noted that foreign investors continue to hold substantial amounts of U.S. assets, indicating sustained global confidence in the American economy and its financial instruments. The remarks, reported by tradealpha, underscore the dollar's enduring status as the world's primary reserve currency despite ongoing discussions about de-dollarization and shifts in the global economic landscape. No specific conditions or forecasts were attached to the statement, which appears to be a general affirmation of current market dynamics.
Read sourceBessent: Dollar Accounts for 89.2% of Global Forex Transactions; Foreign Holdings Strong
U.S. Treasury Secretary Bessent stated that the U.S. dollar accounts for 89.2% of global foreign exchange transactions, underscoring its dominant role in international finance. He also noted that foreign investors continue to hold substantial amounts of U.S. assets, indicating sustained global confidence in the American economy and its financial markets. The remarks, reported by financial news outlet Jin10, highlight the dollar's enduring status as the world's primary reserve currency despite ongoing discussions about de-dollarization and shifts in the global economic landscape. Bessent's comments come amid broader debates on U.S. fiscal policy and the implications of foreign investment for national economic stability.
Bessent: Dollar Strength Reflects US Credibility and Policy Certainty
U.S. Treasury Secretary Bessent stated on Tuesday that the dollar remains strong as a reserve currency, with growing global transaction volumes reflecting the credibility of the U.S. system and measures taken by the current administration. Speaking at a congressional hearing, Bessent emphasized that a strong dollar is not merely a price on a screen but a manifestation of a series of actions. He highlighted that the administration is building regulatory certainty, tax certainty, trade certainty, and energy certainty, which is attracting trillions of dollars in capital to the United States. Bessent also noted that while countries such as Russia have reduced their foreign exchange reserves, other nations continue to actively increase their holdings of the dollar.
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Bessent: Dollar Reserve Status Strong, Trading Volumes Rise
U.S. Treasury Secretary Bessent stated that the dollar's status as a global reserve currency remains strong, and that dollar transaction volumes have increased. The statement, reported by tradealpha, affirms confidence in the U.S. dollar's continued dominance in international finance and foreign exchange markets. No additional context or conditions were provided in the brief report.
Read sourceU.S. Treasury Secretary Bessent Says Dollar Reserve Status Strong, Trading Volumes Up
U.S. Treasury Secretary Bessent stated that the dollar's status as a global reserve currency remains strong and that dollar transaction volumes have increased. The comment, reported by financial news outlet Jin10, affirms confidence in the U.S. dollar's central role in international finance amid ongoing discussions about currency diversification. No further details or context were provided in the brief statement.