Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Get news updates:

Home > India > Business > PTI > Report

Dollar strong, says Obama; rejects China's call

March 25, 2009 08:58 IST

Related Articles
Global meltdown: Complete coverage

Rejecting China's call for a new global currency as an alternative to the dollar, the US President Barack Obama has said that green buck is 'extraordinarily strong'.

"As far as confidence in the US economy or the dollar, I would just point out that the dollar is extraordinarily strong right now," Obama told a crowded press conference at White House on Tuesday.

"I don't believe that there's a need for a global currency," he said.

"The reason the dollar is strong right now is because investors consider the US the strongest economy in the world, with the most stable political system in the world," he replied in response to a question.

"So you don't have to take my word for it. I think that there is a great deal of confidence that ultimately, although we are going through a rough patch, that the prospects for the world economy are very, very strong," Obama said.

© Copyright 2009 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

  Discuss  |    Share with friends  |    Print  |    Ask a question  |    Get latest news on your desktop