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Reserve Currency

A reserve currency is a currency that is held in by central-banks as part of their foreign exchange reserves. The reserve currency is used for international transaction between nation states.

Historical world reserve currencies include:

  1. Spanish Silver Dollar
  2. Dutch Guilder
  3. British Pound
  4. United States Dollar

References

  • Larue, Louis. 2020. ‘“A Conceptual Framework for Classifying Currencies”.’ International Journal of Community Currency Research 24 (1): 45–60.
  • Hockett, Robert C. 2019. ‘Money’s Past Is Fintech’s Future: Wildcat Crypto, the Digital Dollar, and Citizen Central Banking’.
  • Eich, Stefan. 2018. ‘The Currency of Politics’. The Political Theory of Money from Aristotle to Keynes.
  • Varoufakis, Yanis. 2021. ‘What Is Money, Really? And Why Bitcoin Is Not the Answer (Even If Blockchain Is Brilliant & Potentially Helpful in Democratising Money)’. Yanis Varoufakis (blog). 2 August 2021. https://www.yanisvaroufakis.eu/2021/08/02/what-is-money/.
  • Steele, Graham. 2021. ‘The Miner of Last Resort: Digital Currency, Shadow Money and the Role of the Central Bank’. Technology and Government, Emerald Studies in Media and Communications, Forthcoming.