In the United States, we have had a Federal Reserve currency monopoly essentially since about 1940.
Becoming a major reserve currency was likely to get in the way of that, too.
Lastly, under Bretton Woods there was no real alternative to the dollar as a reserve currency.
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" The central idea is to create a reserve currency "that is disconnected from individual nations.
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Many do not believe that both these currencies fit the global criteria for reserve currency status.
Second, the country that issues the reserve currency faces a trade-off between domestic and international stability.
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Very shrewdly, China has not proposed that the yuan replace the dollar as the global reserve currency.
Yes, since World War II the world has relied on the U.S. dollar as the reserve currency.
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The dollar with the loon on it is again being seen as a good Tier II reserve currency.
Ominously, though we currently retain reserve currency status, most of the world thinks this is about to change.
After ten years of dollar weakness, a strengthening of the global reserve currency could gradually shift global markets.
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Because it is seen as the reserve currency, prices for commodities and international transactions are denominated in dollars.
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The emerging markets account for almost half of global GDP but have no reserve currency of their own.
It seemed odd, though, that sterling should behave more like those racy high-yielders than a stable reserve currency.
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And the resultant move lower in the dollar has implications for everyone on account of its reserve currency status.
There is also the problem of the dollar as the international reserve currency.
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It has been trying to promote the yuan as an alternative to the US dollar as a global reserve currency.
The combination of such irresponsible fiscal and monetary policies threatens to erode confidence in the dollar as a reserve currency.
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In a country that has locked itself out of international markets, U.S. dollars, the global reserve currency, are hard to come by.
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Moreover, you earn reserve currency status because the rest of the world agrees that your government is the biggest, baddest dog around.
In another article, Mr Zhou suggested the creation of a new international reserve currency, managed by the IMF, to replace the dollar.
Alternatively, IMF special drawing rights could be used for the purposes of external commitments, until a new global reserve currency has been negotiated.
Extra demand for the dollar as the world's main reserve currency has made it even easier for America to finance its current-account deficit.
It was originally intended as a reserve currency, but is now mainly used in the accounts for the IMF's transactions with member countries.
China may dream of a different world in which the yuan ranks alongside the dollar, euro, sterling and yen as a reserve currency.
World Bank president Robert Zoelick speculated that the world could one day abandon the dollar as a reserve currency as China's economy grows.
That is what is really at stake here: the faith and trust that insures the yankee dollar remains the reserve currency of planet earth.
The disquiet about mortgage credit in America, they suggest, may even have chipped away a little at the dollar's standing as a reserve currency.
This meant that countries holding USDs as reserve currency were under increasing pressure to convert their USDs into gold to protect their own positions.
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From that first transaction, when shells were the reserve currency, to about 1995AD, the marketplace dance was performed zillions of times with little variation.
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