ROLE OF THE DOLLAR AS THE WORLD`S RESERVE CURRENCY

Abstract

This research explores how the U.S. dollar became the world¿s main reserve currency and the key events that shaped its dominance. It examines the political, economic, and social impacts of this position from the Austrian School of Economics perspective. The study focuses on why the dollar remains the global standard over other major currencies, the influence of Federal Reserve policies, and current challenges like de-dollarization and the rise of cryptocurrencies. The analysis mainly compares the dollar with the euro and Chinese yuan.