Mark Considered Undervalued What this means, many economists say, is that the West German mark, the dominant currency of Europe, remains undervalued.

The Deutsche mark, which is now at its historic high against the dollar, is unlikely to replace it as the world's dominant currency.

More important, though, is that Germany agreed in principle to abandon the mark, which is Europe's dominant currency, if a series of strict economic performance targets are met by community members.

They argue that in the early 2000s (decade), like 40 years earlier, the international system is composed of a core issuing the dominant international currency, and a periphery.

But the United States could lose some of the prestige and diplomatic influence that goes with having a dominant currency.

Enrico's revolutionary changes made the grosso the dominant currency for trade in the Mediterranean and contributed to the wealth and prestige of Venice.

If you go back to the British Empire or the Dutch or the Spanish, you'll find that world power also means a dominant currency.

They are thus pushing the officials at the meeting to issue a statement of at least mild concern about the current relationship between the world's three dominant currencies.

For more than a decade, the dollar has remained the dominant currency on the island, used to buy everything from shampoo to furniture and automobiles.

The dollar and the euro will be the two dominant currencies in the world.