What makes a reserve currency? | Monocle

The Bulletin with UBS

What makes a reserve currency?

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Cover art for The Bulletin with UBS

21 April 2025

Episode 550

15 minutes


Photo: Getty Images

While the US dollar has been the dominant – but not the only – reserve currency since 1947, its role has been eroded as other currencies have gained market share. UBS’s Paul Donovan explains what might happen next.

21 April 2025

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