Monday, March 30, 2009

Russia wants to start debate on new reserve currency at G20

Russia is proposing that discussions into the possibility of creating a new world reserve currency are initiated at the upcoming G20 summit in London, a government source said on Wednesday.


Chinese central bank backs Russian idea for new reserve currency

The chairman of the People's Bank of China has spoken out in support of Russia's proposal to create a new global reserve currency as an alternative to the U.S. dollar, Xinhua news agency reported on Tuesday.


China suggests switch from dollar

China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar.


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