Movement By Emerging Market To Create A New Reserve Currency Issued By International Institutions
March 24, 2009 at 09:54 AM EDT
Emerging markets, led by China and Russia, plan to jointly challenge the U.S. dollar’s role as the world’s sole benchmark currency at the April 2 meeting of the Group 20 nations - a move that underscores the currency’s weakness and fading support around the world. The creation of a new…