Bangladesh, Feb. 7 -- The United States Treasury Secretary, Scott Bessent, has dismissed the possibility of any currency challenging the US dollars dominance in the global financial system. His remarks, delivered during a Fox Business interview, come amid increased efforts by the BRICS nations to reduce reliance on Western currencies in international trade. Despite this trend, Bessent asserted that there is “no alternative to the dollar,” downplaying efforts by countries like China, Russia, and India to settle transactions in their national currencies.

The US dollar has served as the worlds primary reserve currency since the Bretton Woods Agreement in 1944. Its stability, deep liquidity, and widespread acceptance make it the ...