Bessent says strong dollar based on credibility, policy certainty
US treasury secretary Scott Bessent says the US dollar thrives as a reserve currency, with rising global transaction volumes reflecting the credibility of the US financial system.
US Treasury Secretary Scott Bessent asserted on Tuesday that the US dollar remains a dominant reserve currency, citing the increased global transaction volume as evidence of the credibility of the US financial system. The strong dollar, according to Bessent, is not merely a financial metric but a reflection of the nation's regulatory, tax, trade, and energy policies, which have attracted trillions of dollars into the US.
Despite Russia and China reducing their reserve holdings, Bessent noted that other countries are still actively participating. He highlighted two of the most successful Treasury auctions in 20 years as proof of the administration's credibility and the global confidence in the United States.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Bessent says strong dollar based on credibility, policy certainty freemalaysiatoday.com
