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Dollar should be replaced says U.N. report

"The dollar has proved not to be a stable store of value, which is a requisite for a stable reserve currency"
-- United Nations Department of Economic and Social Affairs

Under proposed system, countries would not have to buy up foreign currencies, as China has done with U.S. dollar.
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Dollar should be replaced as international standard, U.N. report says

By Gabriella Casanas and Mick B. Krever, CNN
June 29, 2010

Under this proposed system, countries would no longer have to buy up foreign currencies, as China has long done with the U.S. dollar. Rather, they would accumulate the right to claim foreign currencies ... by way of  XDR ...  or special drawing rights, or SDRs. 

A mutual fund of currencies bundles.

The special drawing rights would be backed by a basket of currencies, which would make them less susceptible to volatility in any one currency. And because the value of a special drawing right is defined by the IMF, changes in the value of any one currency could be adjusted for.