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13 Oct, 2009 13:34

No immediate alternative for dollar, but it will fade in long term

In the next few decades countries will be managing national currencies against those of their key trade partners, rather than with the dollar, expects Dr Gerard Lyons, Chief Economist at Standard Chartered Bank.

However, there is no alternative for the dollar as the global reserve and trade currency at the moment, and it won’t appear for years to come.