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Dollar will lose its supremacy

This entry was posted on Wednesday, April 15th, 2009 at 08:00 and is filed under Currency, Finance, Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

American billionaire George Soros says that the single European currency is well positioned at this time, while the U.S. dollar will lose in the end the status of reserve currency.

Euro offers an important advantage of countries that use the unique and there is no risk that any member of the monetary union to enter in a collapse, thinks George Soros. Regarding the dollar, the investor says he is still under huge pressure and could be replaced as the reserve currency of special drawing rights (SDRs) of the IMF - a basket of currencies that are based on the dollar, euro, Japanese yen and pound sterling, the international press writes.

In the United States, Soros says, that exist the risk of slow, on long-term, the economic growth which could add maintaining the inflation at high level. “I don’t expect that U.S. economy to recover in the third or fourth quarter, so I think we will assist to a slow of economy” he said.