Reserve currency Subject: Economy Section: External sector Context: A crypto platform’s pledge to amass $10 billion worth of bitcoin to back its own ‘stable- coin’ is firing up the market. It’s part of a wider movement to crown bitcoin as the reserve currency of a new age. Reserve currency? A reserve currency is […]

    RESERVE CURRENCY TOPIC: Economy Context- Following the financial crisis of 2008, the dollar’s share in trade and currency reserves has grown. The dollar is nowhere close to being dethroned as the world’s reserve currency. Concept- According to the International Monetary Fund’s report : As of 2021, the dollar is used in close to […]