Why is USD considered as a Preferred Currency?

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Why is USD considered as a Preferred Currency?

2006-11-06 02:34:29 · 3 answers · asked by SAURABH S 1 in Social Science ➔ Economics

3 answers

A strong economy. I trade in Foreign Currencies. One thing I notice is when a war or something of the such get started many people in Asian countries move their money into either the USD or the Swiss Franc for stability and to protect their assets.

2006-11-06 02:43:49 · answer #1 · answered by Snaglefritz 7 · 2⤊ 0⤋

It is backed up by the us gov. and economy. That is stronger backing then almost any other currency.

2006-11-06 11:22:33 · answer #2 · answered by just curious 4 · 0⤊ 0⤋

Stability and trust.
VR

2006-11-06 10:37:56 · answer #3 · answered by sarayu 7 · 1⤊ 0⤋