July 16, 2011 ~ Snip ~ Sudan says will launch a new currency ~ Sudan's central bank said on Saturday it will launch a new currency this month after South Sudan announced that it planned to issue a currency of its own. read full article @
Sudan says will launch a new currency and the new currency will be traded before the end of this month ...
July 14, 2011 ~ Snip ~ Iran, The Governor of the Central Bank of Iran, Mahmoud Bahmani, said yesterday that the Iranian government agreed to remove four zeros from the local currency. read full article @
Iran to Revalue Riyal (Iran to change currency's name) ...
April 2011 ~ Snip ~ BRICS, Brazil, Russia, India, China and South Africa - the BRICS group of fastest growing economies - Thursday signed an agreement to use their own currencies instead of the predominant US dollar in issuing credit or grants to each other. The agreement, the first-of-its-kind, was signed at the 3rd BRICS summit here attended by Indian Prime Minister Manmohan Singh, China's Hu Jintao, Brazil's Dilma Rousseff, Russia's Dmitry Medvedev and South Africa's Jacob Zuma. Read full article @
BRICS - Local currencies to replace dollar
Latin America's New Currency ~ January 2010 ~ read article @ On Monday, January 25th, Latin Leftists to Meet on New Regional Currency, also .. Currency Revaluation ~ IMF ~ Latin America ~ Currency flexibility key in Latin America ... and ..
Latin American currency to appreciate in 2011: Morgan Stanley ...
Asian Currencies with China's yuan as an anchor. ~ Revaluing Yuan Would Create 2.24 Million U.S. Jobs, Says Research Group (different source, same pdf) ... and .. U.S. Senator Brown ~ China's Yuan and Asian Currencies should revalue to an equilibrium level, it would create jobs for U.S. and reduce the deficit and .. IMF ~ Yuan and SDR Basket ~ A convertible yuan which is widely traded will be considered for inclusion in the SDR basket ... and China asked to Lead on Single Currency ~ A unified currency in Asia that would boost trade ...
GCC ~ June 24th ~ GCC Gulf Currency is A Goal Not a Hope and "work is in full swing to notch up such an end as soon as possible" ...
__Waking up to a new world currency_
Snip ~ And for Trichet, this is a positive development.He added, “Global governance is of the essence to improve decisively the resilience of the global financial system,” and concluded by saying, “The crisis has driven an historic change in the framework of global governance. In my view this transformation was overdue.” And indeed, the economic crisis has given a major boost to advocates of a world financial and monetary regime.
“A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency,” said the UN’s World Economic and Social Survey for 2010. “The dollar has proved Not to be a stable store of value, which is a requisite for a stable reserve currency.” The new UN report said that the IMF should be given the authority to print its own fiat currency, claiming that the new system “must not be based on a single currency or even multiple national currencies but instead, should permit the emission of international liquidity — such as [Special Drawing Rights] — to create a more stable global financial system.” SDRs are “assets” issued by the IMF with a value currently based on multiple national fiat currencies.
“One day, the fund might even be called upon to provide a globally issued reserve asset, similar to — but in important respects different from — the SDR,” he explained in a speech earlier this year, saying it would be “intellectually healthy to explore” the creation of a new IMF-backed world reserve currency before it is “needed.”
A few months later, he told the High-Level Conference on the International Monetary System that “crisis is an opportunity” and “a new global currency issued by a global central bank, with robust governance and institutional features, could provide a nominal anchor and risk-free asset for the system.” read full article @ Waking up to a World Currency ...
__Regional Currencies_
Snip ~ *The Chinese Yuan - for Asian-Pacific region,
*the Indian Rupee - for South Asia,
*the South-African Rand for Africa.
*The Dinar, countries of the Middle East are planning to establish their own regional currency
*The US Dollar may turn into the regional currency of the Western hemisphere.
Also, read full article @ What are the perspectives of the US Dollar as the global reserve currency? ___
more articles can be found @...
***** Links - Monterrey Consensus - Regional Currencies - IMF and UN Articles
LINKS - CURRENCY REALIGNMENTS - POSSIBLE REGIONAL ADJUSTMENT TO CURRENCIES
