A worker at a currency exchange bureau handles US dollar banknotes in Beirut, Lebanon, on July 21. The dollar is universally accepted for transactions, portfolio investment and speculation. It is without parallel as a multipurpose all-rounder. Photo: BloombergA worker at a currency exchange bureau handles US dollar banknotes in Beirut, Lebanon, on July 21. The dollar is universally accepted for transactions, portfolio investment and speculation. It is without parallel as a multipurpose all-rounder. Photo: Bloomberg
A worker at a currency exchange bureau handles US dollar banknotes in Beirut, Lebanon, on July 21. The dollar is universally accepted for transactions, portfolio investment and speculation. It is without parallel as a multipurpose all-rounder. Photo: Bloomberg
David Brown
Opinion

Opinion

Macroscope by David Brown

Why US dollar will survive the test of coronavirus pandemic

  • The recent dollar sell-off raises questions about confidence in the world’s dominant currency, but the fact remains it has no peers as a reserve asset
  • The woes of the US economy notwithstanding, the dollar will bounce back, as it has always done

David Brown
David Brown

Updated: 10:51pm, 3 Aug, 2020

Why you can trust SCMP
A worker at a currency exchange bureau handles US dollar banknotes in Beirut, Lebanon, on July 21. The dollar is universally accepted for transactions, portfolio investment and speculation. It is without parallel as a multipurpose all-rounder. Photo: BloombergA worker at a currency exchange bureau handles US dollar banknotes in Beirut, Lebanon, on July 21. The dollar is universally accepted for transactions, portfolio investment and speculation. It is without parallel as a multipurpose all-rounder. Photo: Bloomberg
A worker at a currency exchange bureau handles US dollar banknotes in Beirut, Lebanon, on July 21. The dollar is universally accepted for transactions, portfolio investment and speculation. It is without parallel as a multipurpose all-rounder. Photo: Bloomberg
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