How the US Regins the World on the Strength of Greenback

Abstract

This article makes an effort to analyse how the US manoeuvred its way to make the US Dollar become the default Global Currency (or commonly known as Reserve Currency). The US dollar or the greenback still holds the position as the major Reserve Currency. But the launch of Euro had created a temporary threat to dollar’s supremacy. Now with the rapid growth of China’s economy the question that hovers in the minds of the people now is: Will the Yuan or Renminbi (RMB) pose the US Dollar a challenge and replace it as a Global Currency?.