Posted by: greengorilla47 | 30/03/2009

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.

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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.

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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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