Currency crossroads: The dollar, the Euro, and the future of global power

09/12/2025 36 min Temporada 3 Episodio 4
Currency crossroads: The dollar, the Euro, and the future of global power

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Episode Synopsis

As global monetary dynamics shift, the challenge for business leaders is no longer just about managing exchange rates but about strategy, resilience, and long-term competitiveness. 

Hélène Rey, Lord Bagri Professor of Economics at London Business School, joins Sergei Guriev, Professor of Economics and Dean of London Business School, to explore how the erosion of the US dollar’s dominance, the Euro’s potential rise, and the rapid evolution of digital finance are reshaping international markets. 

This episode takes a closer look at why the dollar’s ‘exorbitant privilege’ is fading, what a Kindleberger-style gap could mean for global stability, and how technologies such as stablecoins and central bank digital currencies (CBDCs) might redefine monetary leadership. 

Could fragmentation become the defining trend of the next decade? And what does that mean for policy, investment, and growth? Tune in and dive into: 


The historic role of the US Dollar and its impact on global trade and reserves 

The Kindleberger gap and what a multipolar currency system means for businesses 

The rise of digital finance and its implications for payment systems and liquidity 

Practical strategies for managing currency risk and building resilience 


In an era of geopolitical tension, energy market shifts, and technological disruption, take a forward-looking perspective on how organisations can adapt with agility, hedge effectively, and build resilience. 

Hélène Rey is the Lord Bagri Professor of Economics at London Business School. Discover more about Hélène and her research: https://www.london.edu/faculty-and-research/faculty-profiles/r/rey-h

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