Print

THE GLOBAL CURRENCY SYSTEM CONTEMPORARY ISSUES

Hovhannes Melkumyan

Abstract

The article considers contemporary issues of the current global currency system and the necessity of its reformation caused by the incompatibility with the global economic system. It has been analyzed the most possible directions of its reformation and estimated its possible development. Also has been reviewed the increasing role of Chinese Yuan in the international currency market.

Keywords

international currency system; multicurrency system; international currency; reserve currencies; IMF; SDR basket; US Dollar; Euro; Chinese Yuan

JEL Codes: H25

References

China against US Dollar: Oil turns to Yuan, available at: https://finance.rambler.ru/economics/39453758-kitay-protiv-dollara-neft-perehodit-na-yuan/?updated
Kireev, A.P. (2001). International Economics, part 2 of 2, Moscow
Krasavina, L.N. (2005). International currency-credit and financial relations, Moscow
Krasavina, L.N. (2010). Conceptual approaches to the reformation of global currency system, Money and credit, p. 48-57
Markosyan, A.Kh., Nazaryan, G.A., Hakhverdyan, D.N. (2012). International Economic Relations, part 1 of 2, Yerevan
Mundell, R. (2013). Single currency will save the world from crisis, available at: https://tass.ru/interviews/1598416
Saprikina, V.Yu. (2014). Financial globalization and the reformation of global currency-financial system, South institute of management, p. 77-81
Stiglitz, J. (2010). Stiglitz’s report about the reform of international currency-financial system: consequences of global crisis, Moscow, 328 pages

Full Text: PDF (English)