Would the dollar collapse if the US economy collapses?

As the global reserve currency, the dollar would only collapse under extreme economic circumstances. The U.S. economy would essentially have to collapse for the dollar to collapse. While the U.S. economy experiences crashes and recessions, it hasn't had a brush with a complete collapse in modern times.

What is a currency collapse?

A currency collapse is when a country's currency loses all its value and becomes practically worthless in day to day use This is generally as a result of political or economic upheaval, hyperinflation or war It’s not a common occurrence, but we’ve seen it happen before in various places around the world

Why do foreign exporters not want a dollar collapse?

Foreign exporters such as China and Japan do not want a dollar collapse because the United States is too important a customer. And even if the United States had to renegotiate or default on some debt obligations, there is little evidence that the world would let the dollar collapse and risk possible contagion.

What's going on with the US dollar?

This has translated into some direct action: The U.S. dollar now accounts for 58% of foreign exchange reserves held by overseas central banks, a record low. Gold, the most ancient widely accepted international currency, has chipped away at some of the dollar's dominance, accounting for 15% of reserves, up from 11% five years ago.