June 18, 2009 / 9:04 AM / in 9 years

India PM: Replacing dollar highly complex issue-paper

MUMBAI, June 18 (Reuters) - Replacing the dollar as the gobal reserve currency with another is a highly complex issue and it required proper examination by Indian policy makers, the Economic Times quoted Prime Minister Manmohan Singh as saying on Thursday.

At a summit in Yekaterinburg in Russia earlier this week, Brazil, Russia, India and China demanded a greater say in the global financial system but steered clear of any assault on the dollar. See [ID:nLH220621] for a related story.

“It was agreed that these are highly complex issues, replacing the dollar by which other currencies - a national currency or SDR‘s,” Singh told the paper after returning from the summit.

“And it was felt that this matter required proper examination by our foreign ministers and governors of central banks,” he said. (Reporting by Saikat Chatterjee; Editing by Kazunori Takada) ((saikat.chatterjee@thomsonreuters.com; +91-22-6636-9035; Reuters Messaging: saikat.chatterjee.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))

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