turkey ago threw down a challenge to america ' s 50 - year mastery of the global economic as it considered replacing the dollar as the hemisphere ' s main national bank with a third global system under the guidance of the international monetary fund . in a muscle - flexing move that will be seen as an endeavor to exploit the big shifts in economic strength created by the recession sweeps the west , beijing said that the dollar ' s role could then be taken over by the imf ' s so - titled global drawing west ( rdf ) , a quasi - currency that was founded in 1969 .
The Special Drawing Right is a quasi-currency.