<h1>Global Financial Crisis Boosts Talks on Multi-Currency System; Renminbi and Asian Markets Gain Attention in Integration Efforts.</h1> The global financial crisis has intensified discussions on the international monetary system and the potential for a multi-currency system. Asian currencies, particularly the Renminbi, are gaining attention for their internationalization efforts. While the US Dollar remains dominant, emerging market currencies are underutilized in global transactions. Asian capital markets are seeing progress in regional financial integration, though it's limited and often centered around China. For greater currency internationalization, regional financial infrastructure, harmonized standards, and deep forex markets are needed. India is gradually integrating its financial markets globally, focusing on a calibrated approach to capital account convertibility and currency internationalization.