Dollar to be the reserve currency for long time: White House

A day after the US President, Barack Obama refuted the idea of a global currency, the White House said dollar would be the reserve currency of the world for long time to come.

"Dollar will be the reserve currency for a long, long time," the White House spokesman Robert Gibbs told reporters at his daily press briefing in response to a question.

Earlier in the day, the Treasury Secretary Timothy Geithner had said, the suggestion of a global currency originally made by the Chinese Central Bank Governor is one that deserves consideration.

Soon thereafter Geithner issued another statement echoing the views expressed by Obama at a press conference Tuesday evening, wherein he ruled out any global currency as suggested by the Chinese Central Bank Governor.

Gibbs said America is the strongest and safest place to invest in the world.

"I think that will continue to be the case for a long, long time," he said in response to a question.