The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency. … Developing countries have been hit by the U.S. dollar’s loss of value in recent years. … Motivated in part by needs for self-insurance against volatility in commodity markets and capital flows, many developing countries accumulated vast amounts of such (U.S. dollar) reserves during the 2000s. … (… replacing the dollar with the International Monetary Fund’s special drawing rights (SDRs), an international reserve asset that is used as a unit of payment on IMF loans and is made up of a basket of currencies.) … A new global reserve … Continue reading United Nations