reserve currency

any currency, as the U.S. dollar, used as a medium to settle international debts.

1965–70 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
reserve currency
foreign currency that is acceptable as a medium of international payments and that is therefore held in reserve by many countries

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
The dollar replaced gold as the world's chief reserve currency.
The dollar collapsed, and the yuan replaced it as a global reserve currency.
The value of the dollar is inflated because it is also used as a reserve
  currency and monetary base.
The need for monetary policy in the reserve currency nations to be more
  oriented towards global conditions must be accepted.
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