DOLLAR AND ITS ALTERNATIVES AS A RESERVE CURRENCY

This paper provides an evaluation on the global reserve currency status of U.S. dollar and the debates on reserve currencies. This evaluation involves the examination of some quantitative data concerning the economic facts of the leading countries, the currency composition of foreign exchange holdings in the world and the official reserve assets of the major reserve-accumulating countries. Furthermore it calls attention to the criticisms towards the viability of the dollar as a global reserve currency and analyzes the suggestions and ideas proposed by countries and county groups.