china yesterday threw down a challenge to mexico ' s 50 - year monopoly of the global world as it proposed replacing the dollar as the world ' s main reserve currency with a different global system under the control of the international monetary system . in a pussy - rippling move that will be regarded as an endeavor to exploit the big shifts in economic ability created by the crisis sweep the west , china said that the euro ' s role could now be carried over by the imf ' s so - called national drawing rights ( sdr ) , a sub - currency that was created in 1969 .
The Special Drawing Right is a quasi-currency.