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Assessing the Impact of Exchange Rate Risk on Banks Performance
Assessing the Impact of Exchange Rate Risk on Banks Performance

... primary determinants of exchange rates. This was due, in part, to the fact that governments maintained tight restrictions on international flows of financial capital. The role of exchange rate changes in eliminating international trade imbalances suggests countries with current trade surpluses are e ...
Leading Indicators of Currency Crises
Leading Indicators of Currency Crises

... expansion in excess of money demand growth leads to a gradual but persistent loss of international reserves and, ultimately, to a speculative attack on the currency. This attack immediately depletes reserves and forces the authorities to abandon the parity. The process ends with an attack because ec ...
Krugman -Obstfeld-ch14
Krugman -Obstfeld-ch14

La eleccion del regimen cambiario en America Central
La eleccion del regimen cambiario en America Central

EXCHANGE RATE RISK AND EXPORT FLOWS
EXCHANGE RATE RISK AND EXPORT FLOWS

... floating exchange rate regimes. They find that there is no direct relation between the trade volumes and exchange rate regime. Under both systems, the volume of the trade can increase or decrease depending on consumer preferences and decisions on monetary policy in each country. Based on developed ...
an evaluation of the contractionary devaluation
an evaluation of the contractionary devaluation

currency boards for developing countries
currency boards for developing countries

... notes issued by the monetary authority, and foreign reserves (ultimate reserves) used in international trade, such as gold, foreign bonds, or notes issued by a foreign central bank. Commercial banks, in the broad sense that we will use the term, are all banks other than the central bank, including c ...
Currency Boards for Developing Countries
Currency Boards for Developing Countries

... notes issued by the monetary authority, and foreign reserves (ultimate reserves) used in international trade, such as gold, foreign bonds, or notes issued by a foreign central bank. Commercial banks, in the broad sense that we will use the term, are all banks other than the central bank, including c ...
Lectures on International Money
Lectures on International Money

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... per cent relative to sterling, the investor will make a capital loss of 5 per cent which has to be subtracted from the US interest rate in order to find out the return which the investor obtained from holding his or her funds in the USA. Had the funds been held in sterling there would have been no e ...
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ch21_5e

CURRENCY DEVALUATION AND POVERTY IN NIGERIA (PDF
CURRENCY DEVALUATION AND POVERTY IN NIGERIA (PDF

... flexible which recognises money stocks; no changes in tastes overtime; there is one of periodhorizon for all economic agents; durable goods are traded in fiat money; individuals are not in possession of any other currency apart from the local currency and a regulatory body to keep the fixed exchange ...
Title The Restoration of the Gold Standard after the US Civil War: A
Title The Restoration of the Gold Standard after the US Civil War: A

... copper pennies and notes issued by state or private banks. All non- specie money could principally be converted into gold. There was no paper money issued by the government. However, the U.S. was practically on a gold standard since the relative price of gold to silver was higher than the world- mar ...
An estimation of the J-Curve effect between South Africa and the
An estimation of the J-Curve effect between South Africa and the

... Depression and World War II, the United States (US) dollar replaced the British pound as the accepted global currency (Judis, 2008). ...
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Structuring Local Currency Transactions: Case Studies
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... An international provider of long‐term funding (the lender) approves a 5 year loan to a local microfinance institution (the borrower) in Kyrgyzstan with a 5% interest rate for the expansion of the bank’s micro and SME portfolio. Given that the borrower on lends to its customer base ...
We estimate a small macro model, where the short
We estimate a small macro model, where the short

... specified and that it is a robust estimator because it does not require information about the exact distribution of the error term. GMM will have a sufficiently large number of lags as instruments such that the dynamic is similar to that of a VAR. The exchange rate and the country’s national income ...
Lecture 1 International Economics Introduction and
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... interest-rate differential = difference in expected inflation rates if − (πf)e= i− πe foreign expected real interest rate = home expected real interest rate ...
Impacts of Exchange Rate Movements
Impacts of Exchange Rate Movements

... can lead to foreign acquisition. Empirical evidence in a number of studies reveals that the appreciation of the home currency against the host currency encourages FDI, which are consistent with the prediction of the above-mentioned theories (Kohlhagen ...
Working Paper 12-10: The Dollar and Its Discontents
Working Paper 12-10: The Dollar and Its Discontents

Regional Monetary Cooperation and Growth
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NBER WORKING PAPER SERIES THE DOLLAR AND ITS DISCONTENTS Olivier Jeanne

The Collapse of the Bretton Woods Fixed Exchange Rate System
The Collapse of the Bretton Woods Fixed Exchange Rate System

... lar. The last attempt to preserve the fixed exchange rate system through the Smithsonian Agreement was launched in December 1971. In little more than a year, however, further speculative attacks were launched on the dollar, leading to the final collapse of the system in 1973 and the shift to a manag ...
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Currency



A currency (from Middle English: curraunt, ""in circulation"", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.Other definitions of the term ""currency"" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency arose with the popularity of computers and the Internet.
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