I have always wonder why its so much stronger ? when you go to Japan, everything is cheaper in a sense and the U.S dollar means more in Japan. Why is that ?
In: Economics
commodities like oil, wheat, steel and probably every other one you need USD, which drives demand. The Russians are requiring other countries to buy their oil in Ruble which has helped prop up demand. While you have Euro and other types, many times bonds sold to foreign investor are USD denominated.
Example might be when Sri Lanka ran out of foreign reserves meant they weren’t able to import anything from food to oil or thats what people feared.
Its also held as a reserve currency for alot of national banks.
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