R6 — the Case for a New Global Currency Basket
... expanding the scope of NDB are not only inherent in the form of more elasticity for national currencies but also bringing Asia Pacific (China), Eurasia (Europe), India (Sub-Continent), Middle East or West Asia (Iran) Africa (South Africa) and South America (Brazil) together. An immediate intra-continental set of synergies will emerge through issuing bonds, loans and even trade finance. Some of the GCC countries also share the R in their Rials in KSA and Qatar. But they cannot contemplate being in this league, solely because they are pegged to USD and none has yet faced any of the hardships that some of the key players in this ...