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Is the world in search of a new global reserve currency?

Posted on 21 December 2009

From Financialexpress.com: The world is showing a major shift in currency alignments. The dollar’s dismal run post September 15, 2008 has added fuel to the call for a new global reserve currency. To check currency-value uncertainty and dollar’s hegemony, countries are increasingly exploring an alternative that is less prone to volatility and also seeking ways to diversify portfolios.

With the demand for a new currency order getting shriller, particularly from the BRIC stable, the idea has also found favour with Nobel Prize-winning economist Joseph Stiglitz, who heads a UN expert panel analysing the global financial crisis and recommending reforms………………………………..Full Article: Source

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