At that point the UK was the primary exporter of manufactured goods and services and over 6. ![]() 0s, most industrialised countries had followed the lead of the United Kingdom and put their currency on to the gold standard. People who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than people in other nations because they don't need to exchange their currency to do so. The reserve currency is commonly used in international transactions and often considered a hard currency or safe- haven currency.
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