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Currency Board |
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Currency boardAn extreme form of pegged exchange rate in which management of both the exchange rate and the money supply are taken away from the central bank and given to an agency with instructions to back every unit of circulating domestic currency with a specified amount of foreign currency. Operates similar to the gold standard.Currency BoardEntity charged with maintaining the value of a local currency with respect to some other specified currency.Currency Board Similar MatchesCurrency futures contractCurrency futures contractContract specifying a standard volume of a particular currency to be exchanged on a specific settlement date. Over-valued currencyOver-valued currencyThe situation of a currency whose value on the exchange market is higher than is believed to be sustainable. This may be due to a pegged or managed rate that is above the market-clearing rate, or, under a floating rate, it may be due to speculative capital inflows. Contrasts with under-valued currency. CurrencyCurrency1. The money used by a country; e.g., the national currency of Japan is the yen. 2. The physical embodiment of money, in the forms of paper bills or notes, and metal coins. Multicurrency clauseMulticurrency clauseSuch a clause on a Euro loan permits the borrower to switch from one currency to another currency on a rollover date. Currency no longer issuedCurrency no longer issuedOld and new series gold and silver certificates, Federal Reserve notes, national bank notes, and 1890 Series Treasury notes. Further SuggestionsCurrency blocCurrency in circulation Currency swings Common currency Foreign currency futures contract Foreign currency translation Soft currency Currency call option Composite currency Currency risk Currency diversification Currency depreciation Currency basket Currency selection Under-valued currency Eurocurrency deposit Intervention currency Currency Asian Currency Units (ACU) Foreign currency option Currency in circulation Moscow Interbank Currency Exchange (MICEX) currency loan Currency depreciation Currency swap |
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