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US's Geithner: Dollar will keep pole position

Published 09/24/2009, 05:42 PM
Updated 09/24/2009, 05:45 PM

PITTSBURGH, Sept 24 (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Thursday that a strong dollar was in the national interest and the dollar would retain its role as the world's primary reserve currency for "a very long time."

"A strong dollar is very important in the United States," he told a news conference shortly ahead of the two-day summit of Group of 20 leaders being held in Pittsburgh.

"We have a special responsibility here in the United States to make sure we are doing the things in this country to preserve confidence in the U.S. financial system, confidence that is very important to sustain the dollar's role as the principle reserve currency in the international financial system. And we expect ... the dollar to retain that position for a very long time," he said. (Reporting by Alister Bull; Editing by Leslie Adler)

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