Indonesia, Malaysia and Thailand backed China's call for a global reserve currency, replacing the U.S. dollar, Bloomberg reported Friday.
Central bank chiefs of the three Asian countries are of the view that a global reserve currency would help to curb volatility and it will boost trade.
On Monday, the People's Bank of China Governor Zhou Xiaochuan had repeated his call for a new global reserve currency managed by the International Monetary Fund.
Bank of Indonesia Governor Boediono reportedly sought a global currency that is stable by volume and value so that world trade and investment can be more stable.
Bank Negara Malaysia Governor Zeti Akhtar Aziz had said the proposal is worth consideration. Bank of Thailand Governor Tarisa Watanagase also shared a supporting view saying that a global currency would benefit developing economies.
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