New Delhi, Sept. 15 -- US Treasury Secretary Scott Bessent said on Tuesday (September 15) that the US dollar continues to thrive as the world's reserve currency, pointing to rising global transaction volumes as evidence of continued confidence in the US financial system.

"A strong dollar is not a price on a screen; it is a set of behaviors," Bessent said during testimony before the House Financial Services Committee. He said the Trump administration's efforts to provide regulatory, tax, trade and energy certainty were attracting trillions of dollars into the United States.

Bessent said the increase in dollar-denominated transactions showed the "credibility of our system and what this administration is doing."

He acknowledged that some ...