“Keep the exchange rates of major currencies relatively stable,” China says

World powers continue raising questions around the international reserve currency and on Wednesday Chinese Foreign Minister Yang Jiechi noted that the nations need to understand that the top reserve currencies should be kept stable.

"Countries across the world have suffered heavy losses from the ongoing global financial crisis and economic recession," Yang told a U.N. General Assembly meeting on the economic crisis and its impact on the developing world.

"One important consensus we have reached upon reflection is that it is important to keep the exchange rates of major currencies relatively stable and promote a diversified and rational international monetary system," he said.

Earlier in March China proposed that the International Monetary Fund to assign more power to Special Drawing Rights, or SDRs, so that they could play a role as a future reserve currency. China thinks that it would lessen the reliance on the U.S. dollar as the world's top reserve unit.

Meantime Russia last week caused US dollar to weaken after it indicated there was a need for a global reserve currency other than the greenback.