The implications of introduction of Euro on Dollar - by Sowmya Kumblekere. As a Foreign Reserve currency As a Choice of Currency for oil trade. Contents. Introduction Chronology of world currencies Dollar as international currency Euro as emerging international currency Dollar VS Euro
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As a Foreign Reserve currency
As a Choice of Currency for oil trade
Used as Reserve currency: 12.5%
Economy: Much smaller
World exports: 19.5%
Economies as large as US and net creditors to the world.
Euro will take time to reach similar status as dollar.
Used as Reserve currency: 66%
Economy: much larger
World exports: 15%
Dollar will still prevail, especially in unstable economies, due to worldwide acceptance.Euro Vs Dollar