News: IMF head, Dominique Strauss-Kahn, expects currency basket for reserves

The Globe and Mail is reporting that countries might move their foreign currency reserves to a basket of currencies such as Special Drawing Rights.
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News: (BBC) China suggests switch from dollar

The BBC has an article about requests by China to switch from the single-currency reserve system to a an IMF-backed reserve system.

The suggestion made by China is to move to a Special Drawing Rights (SDR) (IMF factsheet) unit of account. SDR’s are backed by a basket of currencies, predominantly the U.S. dollar at present (44% according to Wikipedia).

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