Financial Times reports that the US dollar is certain to lose its status as the global reserve currency over the next 25 years, according to a survey of central bank reserve managers who collectively control more than $8,000bn. More than half the managers, who were polled by UBS, are said to have predicted that the dollar would be replaced by a portfolio of currencies within the next 25 years, a departure from previous years, when the central bank reserve managers thought the dollar would retain its status as the sole reserve currency.
UBS surveyed more than 80 central bank reserve managers, sovereign wealth funds and multilateral institutions with more than $8,000bn in assets at its annual seminar for sovereign institutions last week. The results were not weighted for assets under management. more