|
IMF discusses plan to replace dollar as reserve currencyCNNFeb. 11, 2011 |
Popular 
ADL Urged Congress to Pass FISA Law Spying on Americans to 'Protect Israel'
'Sniper Seen on Roof Overlooking Pro-Palestine Protest' at Indiana University
Rep. Thomas Massie Warns Congress is Trying to Pass Hate Speech Laws to Outlaw Criticism of Israel
Mike Johnson Pushes Debunked Lie That Israeli Babies Were 'Cooked in Ovens' On October 7
Claim Jewish Student Was 'Stabbed In The Eye' by Pro-Palestine Protester Draws Mockery After Video Released
 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 
|
