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June 23, 2023

2nd Annual International Roles of the U.S. Dollar Conference

Alain Chaboud, Ricardo Correa, Patrick Douglass, Linda S. Goldberg, Juan M. Londono, and Fabiola Ravazzolo

photo: three presenters of the US Dollar conference: left to right: Leonardo Elias Financial Research Economist Federal Reserve Bank of New York; Hyeyoon Jung Financial Research Economist Federal Reserve Bank of New York; Darrell Duffie Adams Distinguished Professor of Management and Professor of Finance at the Graduate School of Business, and professor by courtesy, Department of Economics Stanford University

The U.S. dollar plays a central role in the global economy. In addition to being the most widely used currency in foreign exchange transactions, it represents the largest share in official reserves, international debt securities and loans, cross-border payments, and trade invoicing. The ubiquity of the U.S. dollar in global transactions reflects several key factors, including the depth and liquidity of U.S. capital markets, the size of the U.S. economy, the relatively low cost of converting dollars into other currencies, and an enduring confidence in the U.S. legal system and its institutions.

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Posted at 9:00 am in Financial Institutions, International Economics, Nonbank (NBFI) | Permalink

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