Besenet denies that the decline of the dollar threatens its status as a major world currency

ChainCatcher news, U.S. Treasury Secretary Mnuchin refuted that the recent depreciation of the dollar will affect its status as the world's primary currency. Mnuchin said last week: "The price of the dollar is not related to a strong dollar policy. The key to a strong dollar policy is whether we take measures in the long term to ensure that the dollar continues to serve as the global reserve currency." He believes that the Trump administration is indeed taking such measures.

The dollar index fell nearly 11% in the first half of the year, marking the worst first-half performance since 1973. This depreciation occurred against a backdrop of concerns about the Trump administration's policies, particularly the potential impact of increased tariffs on economic growth and a tough diplomatic stance towards long-term allies, who have historically funded the U.S. Mnuchin stated that the Republican tax bill "created conditions for economic growth."