You are probably one of the dozens of Quora readers who think a) there is something mysterious and special about being a “reserve currency,” and b) the US dollar is it. Wrong on both counts. Any currency can be a reserve currency — it just means that other countries hold it as part of their FX reserves. And the USD is the dominant, but by no means sole, currency to fulfill that function.

Now, what would be the impact on the US if the euro were to become the dominant reserve currency? I think it would be immensely beneficial for the US. That’s because if the USD weren’t the world’s major reserve currency, probably its value would fall, US exports would be more competitive, and more people in the US would have jobs making goods for exports.