Thursday, July 23, 2009

Dollar to remain top currency: German minister

The US dollar will remain the world's top currency after the financial crisis is over, but the euro and the Chinese yuan will gain in importance, Germany's finance minister said on Thursday. 

In an interview with Manager magazine to appear on Friday, Peer Steinbrueck was asked if the US dollar would retain its position as the world's reserve currency after the dust has settled on the worst economic crisis since the Great Depression. 

"That is the $10,000 question," Steinbrueck quipped. 

"I would say: yes, but the yuan and the euro will also gain in relative significance," the minister added.

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