BLBG: Geithner-Dollar to be reserve currency for long time
U.S. Treasury Secretary Timothy Geithner on Wednesday said that the dollar is still the world's reserve currency and is likely to remain so for a long time.
Asked after a speech whether he foresaw a change to the dollar's role as global reserve currency, he said "No, I do not."
"The dollar remains the world's dominant reserve currency and I think that's likely to continue for a long period of time."
He also said, "as a country, we will do what's necessary to make sure we're sustaining confidence in our financial markets and in this economy's long-term fundamentals."
In response to an earlier question, Geithner said he was "quite open" to a Chinese suggestion to move toward greater use of a global currency basket comprising dollars, euros, yen and sterling.
