Dollar’s Real Competition Is Decades Away, Franklin’s Desai Says

The dollar’s dominance has been the subject of much scrutiny but Franklin Templeton sees the greenback remaining the currency of choice.

The US currency’s status is backed by three pillars, namely the scale of the world’s largest economy, the depth of its market and its institutional credibility, Sonal Desai, chief investment officer of the firm’s fixed-income division, wrote in a note. There are no credible alternatives and it would take decades to build the institutional infrastructure required to support such a currency, she added.