Is U.S. dollar too dominant?

French finance minister Michel Sapin has an issue with the US$9-billion fine imposed on BNP Paribas, France’s largest bank.

Though the bank has admitted to wrongdoing and accepted the fine, Sapin has stated the amount should have been calculated using the bank’s home currency, according to Financial Times.

In an interview with the outlet, Sapin added Europeans also have to buy some materials and commodities in U.S. dollars, even though an increasing number of global currencies account for more global trade.

Read more on the dominance of the U.S. currency, and on Sapin’s views.

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