Historically US Dollar enjoyed the benefits of world Trading Currency, as it was considered a stable hard currency. Recently it has been falling in its value as result OPEC country finding it difficult to fix the price of barrel of liquid.



Time is just right for the world to create new system to replace the Dollar as trading currency. I think IMF should introduce IMU (International Monetary Unit). IMF doesn’t need to issue any new currency notes, but it will be a Unit that will be used to hold Bank reserves/deposits for international commodity trading. All the world currencies would be pegged to IMU, and may fluctuate according to their global strength.

It would stabilize the global financial system and its value would not depend on the economic conditions of anyone country.

When a depositor needs to withdraw its deposit, IMU would be converted to any currency the depositor requires. IMU’s value would remain stable; there will be no fear of deposits loosing their value.

Its time for global change and time for IMU.

Avtarjeet Dhanjal