problems associated with foreign reserves

A global currency is not a new phenomenon, it exists for more than
2500 years ago and since then the trade system took shape. A global
currency is nothing but a common currency, managed by a global central
bank within the Global Monetary Union, facilitating all commercial transactions
globally. A common currency in the world can be the answer
many issues to currency fluctuations, problems associated with foreign
reserves, economic shocks, inflations, etc. section focuses on
in the world, the modern need for a single global currency, economic
benefits of such a scenario, the challenges and shortcomings of
conduciveness change and the current political climate
achieving such change. Attitudes of the BIS and other global
recognized institutions on this issue have been informed. It also analyzes
reasons for the failure of a global currency.

The first article "The End of National Currency", written by Ben Steil
said that globalization and monetary nationalism (leading to more
currencies) is a dangerous combination, a cause of financial crises and
geopolitical tensions and triggered a wave of monetary nationalism. The
author cites the case of Argentina which has become the poster child for
Monetary nationalists, who believe that every country should have its own
paper currency and not waste resources hoarding gold or other hard
foreign exchange reserves. The article lists the merits of currency
unification, as in the days of gold on globalization. Box point of
Jayshree Bose, "Some Prerequisites for Path currency
Associations, attachments for this issue.