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Thursday, February 10, 2011

IMF discusses plan to replace dollar as reserve currency - Feb. 10, 2011

READ MORE: IMF discusses plan to replace dollar as reserve currency - Feb. 10, 2011: "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."

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