Geithner open to Zhou suggestion, but backs buck
Tim Geithner, the US Treasury secretary, said on Wednesday that he was open to People's Bank of China governor Zhou Xiaochuan's suggestion of expanding the use of special drawing rights (SDRs) but affirmed the dollar's strength.
Zhou earlier this week advocated the use of SDRs as an international reserve currency as part of a move towards a more stable global monetary order. His comments were widely interpreted as an attempt to downplay the dollar's role as a reserve currency.
Geithner told a
More on Reserves
Latest issue
Most read
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- Dudley backs floor-based system for setting monetary policy
- The Bank of Italy’s approach to risk-based budgeting
- Asian Infrastructure Investment Bank – Raising expectations
Back to Top