Tuesday, November 10, 2009

Reuters | World Bank President Robert Zoellick said the U.S. should not be complacent about the dollar

SINGAPORE, Nov 11 (Reuters) - World Bank President Robert Zoellick said on Wednesday that the U.S. dollar's role as a reserve currency was "relatively secure", but the Chinese yuan will provide an alternative over time.

"Over the next 10-15 years, you will firstly see renminbi to be internationalised and provide an alternative," he said at a World Bank conference in Singapore.