Reserve Currency stories:
IMF chief says stronger yuan needed for rebalancing
Nov 15th, 2009 - Forbes
BEIJING, Nov 16 (Reuters) - A stronger Chinese yuan is part of the reforms that Beijing needs to implement to increase domestic consumption and help ease global imbalances...
US Backs Strong Dollar, APEC Remains To Be Convinced
Nov 12th, 2009 - Wall Street Journal
(This item first ran Thursday.) SINGAPORE (Dow Jones)--The U.S. reiterated its support for a strong dollar Thursday, but its Pacific Rim trading partners remained skeptical...
WB chief says China's yuan can be alternative reserve currency in 15 years
Nov 11th, 2009 - XinHua
SINGAPORE, Nov. 11 (Xinhua) -- With China's growth trend and Beijing's efforts to internationalize its currency, the Chinese yuan can develop into the alternative to the U.S...
China hopes U.S. keeps deficit to appropriate size
Nov 8th, 2009 - Washington Post
SHARM EL-SHEIKH, Egypt (Reuters) - China hopes that the United States will keep its deficit to an appropriate size to ensure basic stability in the U.S. dollar exchange rate...
WORLD FOREX: Dollar Falls Vs Euro,Yen On China Reserves Report
Oct 26th, 2009 - Wall Street Journal
TOKYO (Dow Jones)--The dollar fell against the euro and the yen in Asia on Monday after an official newspaper of the Chinese central bank said China should cut its U.S...
Reserve Currency videos from YouTube:
3:35'Dollar can't be reserve currency' - Peter Schiff
Dollar has no future as a reserve currency, believes economist Peter Schiff. He says having reserves backed by the dollar is worthless.
6:29Currency Outlook - A New International Reserve Currency? - Bloomberg
G-8 Loses Clout; Further Analysis and Discussion with Dan Katzive of Credit Suisse (Bloomberg News)
4:06UN Calls for the Creation of Global Reserve Currency
(Bloomberg) -- The dollars role in international trade should be reduced by establishing a new currency to protect emerging markets from the confidence game of financial speculation, the United Nations said. UN countries should ...
4:31Gold replacing dollar as world reserve currency?
(Skip 45 sec intro chatter) As the US Dollar continues to lose strength, now at a 14-month low, and bank failures top 100, global investors are looking for a safe place and are switching to gold. Copyright MSNBC 2009 US Dollar ...
Reserve Currency from WikiPedia:
A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. It also tends to be the international pricing currency for products traded on a global market, such as oil, gold, etc.
This permits the issuing country to purchase the commodities at a marginally lower rate than other nations, which must exchange their currency with each purchase and pay a transaction cost. (For major currencies, this transaction cost is negligible with respect to the price of the commodity.) It also permits the government issuing the currency to borrow money at a better rate, as there will always be a larger market for that currency than others.
Reserve currencies have existed for millennia.[citation needed] These currencies were widely recognized and used for international transactions.
Read more on WikiPedia
