Resilient Reserves: The Continued Dominance of the US Dollar and its Significance for Commercial Law in the UK

The US dollar, the world's leading reserve currency, is poised to maintain its dominant position despite calls for alternatives, according to a recent survey conducted by the Official Monetary and Financial Institutions Forum (OMFIF). While there may be a slight decline in its share of global reserves over the next decade, the dollar is projected to account for 54% of total reserves, underscoring its enduring prominence. This article delves into the significance of the US dollar's continued dominance for commercial law in the UK and examines the implications it holds for businesses and legal professionals in navigating international trade and finance.