Medvedev: Russia Wants a New World Currency
Russian President Dimitry Medvedev told CNBC's Maria Bartiromo that a basket of currencies would be a better alternative than the U.S. dollar or euro as the world's reserve currency. Medvedev first proposed seeking alternatives to the dollar as a reserve currency back in March.
“There’s been a lot of talk out of Russia about a new global currency, and that’s contributing toward this latest bout of dollar weakness,” Henrik Gullberg, a currency strategist at Deutsche Bank AG in London told Bloomberg. “These latest comments are just adding to the general dollar weakness we’ve seen recently.”
