Sept 15 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Tuesday that the U.S. dollar continues to thrive as a reserve currency, with rising transaction volume globally reflecting the "credibility of our system and what this administration is doing."
"A strong dollar is not a price on a screen; it is a set of behaviors, and what we have seen in this administration, where we are creating regulatory certainty, tax certainty, trade certainty and energy certainty that is bringing in trillions of dollars into the US," Bessent said at a congressional hearing. Russia and China have decreased their reserve holdings, he said, but other countries are active.
"We just had two of the most successful Treasury auctions in 20 years, which speaks to the credibility of our system and what this administration is doing and the global confidence in us," Bessent said.
Reporting by David Lawder, writing by Ann Saphir
