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Though 'Intriguing,' Crypto Won't Dethrone Dollar, Says IMF Economist

Published 01/07/2020, 02:29 PM
Updated 01/07/2020, 04:01 PM
Though 'Intriguing,' Crypto Won't Dethrone Dollar, Says IMF Economist

Digital currencies have gained prominence over the last few years, although such options will not budge the U.S. dollar from its seat of prominence, according to chief economist International Monetary Fund (IMF) Gita Gopinath.

“Improvements in payment technology may have lowered the cost of switching from cash to digital payments, but there is little evidence they have done much to reduce the expense of moving among currencies,” Gopinath said in an opinion piece for the Financial Times on Jan. 6, adding:

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