Saudi official says dollar should expect competition

15 February 2010

The governor of the Saudi Arabian Monetary Agency has said the US dollar will see competition over its global reserve status as a 'multipolar' currency system develops, Bloomberg has reported. 'The dollar is still pre-eminent in its role as a reserve currency, although in official reserves, the euro is gaining in importance,' the news service quoted Muhammad al-Jasser telling the Jeddah Economic Forum.

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