Eurodollar – Currency of the Future?

In the twentieth century, it was widely believed that the Japanese yen would become the world's predominant currency (though some pessimistic economists predicted the Chinese yuan would ascend to the top). However, the yen's greatest fault proved its limited geographical distribution: one country. The US dollar, on the other hand, was recognized nearly everywhere around the globe. That is most likely reason why, when the US dollar took a spectacular nosedive in 1994, the European Economic Community decided to institute a new currency, calling it the EURODOLLAR (€$). The new currency's exchange rate was based on the average values of the strongest European currencies of the day, save the British pound sterling. It seemed a prudent rationale and solid foundation at the time; after all, both the US government and dollar had been strong and stable for so long. Even then, the term "dollar" itself still rang clear and bright as a bell of pure gold.