BIS sceptical on reserves role for SDR
Greater use of the special drawing right (SDR) would fail to solve the funding problems associated with the dollar's dominance as the global reserve currency, the Bank for International Settlements (BIS) has warned.
"The principal concern for monetary authorities during periods of crisis is ensuring the availability of sufficient funds in the international currency whichever it is," the BIS said in its Annual Report, out Monday. "Currently it is the dollar, and to a much lesser extent, the Swiss
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