But lower interest rates make dollar-denominated securities less attractive to investors.

Lower interest rates make dollar-denominated securities less valuable for investors.

Higher interest rates help the dollar because they attract foreign investment in dollar-denominated securities.

Higher interest rates help the dollar by attracting foreign investment to dollar-denominated securities.

They accumulated more than $200 billion in dollar-denominated securities last year to keep their exchange rate stable.

Lower interest rates make dollar-denominated securities less attractive to investors.

Lower interest rates push down the dollar by making dollar-denominated securities less valuable.

The Treasury also needs foreigners to remain interested in dollar-denominated securities.

Income from those sales will be used to buy dollar-denominated securities to support the scholarship fund.

As a side effect, the lower rates make dollar-denominated securities less attractive to global investors.