Rogers expects greenback to be revalued

The US dollar will be revalued as policymakers seek to weaken it, undermining the greenback's role as an international reserve currency, said Jim Rogers, chairman of Rogers Holdings in Singapore.

"They think that if you drive down the value of your money, it makes you more competitive, now that has never worked in history in the long term," said Rogers. The ICE's Dollar Index has gained 19 percent since Rogers said in an interview on April 27 he expected a dollar rally "about now".

The US dollar gained since June 30 against all the 16 most-traded currencies except for the yen as investors fled for the perceived safety of Treasuries after the global financial crisis struck, tipping the world into recession. US politicians are seeking to reverse those gains to revive growth, Rogers said.