|
IMF discusses plan to replace dollar as reserve currencyCNNFeb. 11, 2011 |
Popular 
Netanyahu Confirms Plan to 'Merge' U.S. and Israeli Militaries
Sen. Lindsey Graham Dead at 71
Israel Told Trump of 'Iranian Assassination Plot' Before He Declared MoU 'Over,' Report Suggests
U.S. Must Prep to 'Welcome Large Numbers of Jewish Refugees,' Pro-War Lobbyist Mark Dubowitz Says
Mark Levin Flying to Israel as Netanyahu Reportedly Seeks to 'Leverage' Levin to Trash Trump's Iran Deal
 NEW YORK (CNNMoney) -- The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency. The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system. SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies. The IMF typically lends countries funds denominated in SDRs. While they are not a tangible currency, some economists argue that SDRs could be used as a less volatile alternative to the U.S. dollar. Read More 
|
