reserve currency


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reserve currency

n.
A currency kept in reserve by governments for the paying of international debts and management of the domestic exchange rate.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

reserve currency

n
(Economics) foreign currency that is acceptable as a medium of international payments and that is therefore held in reserve by many countries
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
Translations

reserve currency

n (Fin) → valuta di riserva
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
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References in periodicals archive ?
dollar remains the world's de facto reserve currency.
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Summary: Whatever the short-term gains, this would hurt its status as world's reserve currency
One of the great claims made for the euro was that it would rival the US dollar as a second global reserve currency. These hopes have failed to materialize.
Although in 2016 the International Monetary Fund included the yuan in its basket of currencies for determining special drawing rights (or currencies recognized as part of member countries' official foreign exchange reserves), China's currency has a long way to go before it gains acceptance as an international reserve currency.
We hope to achieve plus six per cent sustainable growth rate," he added.When asked why Pakistan wanted to keep Chinese currency as a reserve currency for trade transactions, PM Abbasi said it was very beneficial for bilateral trade, which was improving at a fast rate.
That month, the International Monetary Fund (IMF) officially anointed the RMB as an elite global reserve currency. The RMB joined the select basket of currencies (previously comprising the dollar, the euro, the Japanese yen, and the British pound sterling) that constitute the IMF's artificial currency unit, the special drawing right (SDR).
That is because it is and will continue to be the global reserve currency. And there is a critical reason for that.
The euro was introduced 19 years ago, ambitious to become a reserve currency, but its youth and the recurring fears of a eurozone breakup have limited the world's willingness to trust it.
Having the world's favourite reserve currency is a practical advantage, lowering borrowing costs and boosting GDP growth in America, while symbolising great power status.
Global Banking News-October 18, 2017--Chinese central bank says yuan will gradually develop as reserve currency

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