Astana. July 1. Kazakhstan Today - Instability of dollar necessitates development of a multi polar financial system. The President of Kazakhstan Nursultan Nazarbayev expressed this opinion during the plenary 17th annual session of OSCE Parliamentary Assembly on Sunday, the agency reports. The leader of the state noted that "significant devaluation of US dollar, in particular, as compared to currencies of China, Japan and Europe has led to shaking of its position as a world reserve currency." "It forces many to look at global financial mechanisms differently and include the issue of multi polar financial system into the agenda," he said. N. Nazarbayev noted that Russia plans to make by 2020 ruble a regional reserve currency." "The Arabian world, Latin America, Southeast Asia have similar ideas," he specified.