According to the UN body, the dollar has significantly lost its value and a country like the United States that has current account deficit is under no obligation to adjust to growing unbalance in the current account.
Development Report 2009.The report said no country is obliged to hold reserves in dollars; indeed, central banks have been increasingly diversifying their reserve holdings in other currencies, in particular the euro, in order to reduce the exchange-rate risk in a world of financial and currency instability.
Nevertheless, since the dollar serves as the main currency for settling international transactions, it has continued to be the preferred choice. I think that new currency is just behind the corner and it ready to lift off ! Whats your opinion about it
Development Report 2009.The report said no country is obliged to hold reserves in dollars; indeed, central banks have been increasingly diversifying their reserve holdings in other currencies, in particular the euro, in order to reduce the exchange-rate risk in a world of financial and currency instability.
Nevertheless, since the dollar serves as the main currency for settling international transactions, it has continued to be the preferred choice. I think that new currency is just behind the corner and it ready to lift off ! Whats your opinion about it
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