Saudi Monetary Head Re-affirms Dollar's Reserve Currency Status

Filed under: International Markets

The head of Saudi Arabia's central bank defended the dollar's role as the world's reserve currency, adding that an alternative, special drawing rights, was "years" away.



Mohammed al-Jasser, the head of the Saudi Arabian Monetary Authority, told marketwatch.com Sunday the dollar's "pre-eminent" role has not changed substantially since World War II. However, al-Jasser added that the euro is gaining ground as an alternate reserve currency to the U.S. currency.

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Saudi Monetary Head Re-affirms Dollar's Reserve Currency Status originally appeared on BloggingStocks on Mon, 15 Feb 2010 17:30:00 EST. Please see our terms for use of feeds.

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