US Dollar as World Reserve Currency in Jeopardy provided by Reuters; Currency specialist Avinash Persaud, a member of a UN panel of experts, told the Reuters Funds Summit in Luxembourg that the panel may recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, adding to pressure on the dollar. The proposal is to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.
↧