Rome, July 10 (Prensa Latina) China has called on the group of eight industrialised nations (G8) to take steps to steady the exchange rate.

It also proposed the creation of a new international reserve currency to replace the dollar.

Chinese government advisor Dai Bingguo said on the second day of the G8 Summit in the Italian city of A'quila Thursday that the monetary regime needs to be strengthened to steady the exchange rate.

The US has opposed the suggestion.

However, in March this year, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn described as legitimate the proposals about a new international reserve currency and even considered a debate on the subject in the near future.