WASHINGTON: Saudi Arabian Monetary Agency Gov. Muhammed Al-Jasser said yesterday the dollar would not easily surrender its role as the global reserve currency and saw no sign investors were seeking “lifeboats” to flee the unit.
“In relative terms it is not a clear-cut case the dollar alone is in trouble and (that) people should be looking for lifeboats out of the dollar,” Al-Jasser told a conference on US-Saudi relations.
“That is not the case yet,” he said in answer to a question.
Al-Jasser said the depth and liquidity of the dollar market would ensure its dominance as the world’s reserve currency, unless something went horribly wrong. “Unless there were very serious dislocations or policy failures ... I don’t see any change,” he said.