Download or read book Introduction of a new national currency written by Fondo Monetario Internacional and published by . This book was released on 1993 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introduction of a New National Currency written by Mr.Richard K. Abrams and published by International Monetary Fund. This book was released on 1993-06 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last few years, a number of countries in the Former Soviet Union and Eastern Europe have become independent or regained their independence. Many have chosen to issue their own currencies and more are likely to do so. This paper draws on these and earlier experiences in order to summarize the main policy and institutional arrangements necessary for the introduction of a new currency and to discuss the key features of, and procedures for, the conversion. The paper is designed as a working document for those involved with currency reforms to help ensure that all the necessary steps are taken prior to, during, and immediately after the introduction of a new currency. The body of the paper is in four parts. First, the main macroeconomic and operational measures required to prepare for the orderly transition to the new currency are discussed, including decisions regarding the choice of exchange regime, the issuance of coupons and the costs and benefits of currency reforms. The next section covers issues relating to the production of the new currency bank notes. Next, the main features and terms of the conversion are discussed, as well as certain special issues such as speculative inflows and the treatment of banks’ customers and old currency contracts. The last section covers the operation of the foreign exchange market and maintenance of exchange rate stability in the period immediately following the introduction of the new currency. The appendix covers the technical aspects of currency handling, accounting and management.
Download or read book Introduction of a New National Currency written by Richard Abrams and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last few years, a number of countries in the Former Soviet Union and Eastern Europe have become independent or regained their independence. Many have chosen to issue their own currencies and more are likely to do so. This paper draws on these and earlier experiences in order to summarize the main policy and institutional arrangements necessary for the introduction of a new currency and to discuss the key features of, and procedures for, the conversion.The paper is designed as a working document for those involved with currency reforms to help ensure that all the necessary steps are taken prior to, during, and immediately after the introduction of a new currency. The body of the paper is in four parts. First, the main macroeconomic and operational measures required to prepare for the orderly transition to the new currency are discussed, including decisions regarding the choice of exchange regime, the issuance of coupons and the costs and benefits of currency reforms. The next section covers issues relating to the production of the new currency bank notes. Next, the main features and terms of the conversion are discussed, as well as certain special issues such as speculative inflows and the treatment of banks` customers and old currency contracts. The last section covers the operation of the foreign exchange market and maintenance of exchange rate stability in the period immediately following the introduction of the new currency. The appendix covers the technical aspects of currency handling, accounting and management.
Download or read book The Rise of Digital Money written by Mr.Tobias Adrian and published by International Monetary Fund. This book was released on 2019-07-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.
Download or read book The Rise of Public and Private Digital Money written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-29 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision.
Download or read book Virtual Currencies and Beyond written by Mr.Dong He and published by International Monetary Fund. This book was released on 2016-01-20 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book Parallel Currency Markets in Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.
Download or read book Where Does Money Come From written by Josh Ryan-Collins and published by . This book was released on 2014-01-31 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
Download or read book How Global Currencies Work written by Barry Eichengreen and published by Princeton University Press. This book was released on 2019-02-26 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.
Download or read book The Future of Money written by Eswar S. Prasad and published by Harvard University Press. This book was released on 2021-09-28 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
Download or read book Currency Features for Visually Impaired People written by National Research Council and published by National Academies Press. This book was released on 1995-02-18 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Committee on Currency Features for the Visually Impaired evaluated features that could be incorporated in the production of U.S. banknotes that would enable blind and visually disabled people to more easily determine the denomination of a banknote. This volume describes several features and the assessment methodology used to determine which features could be recommended for inclusion in the short term, which could be recommended for research and possible inclusion in future currency redesigns, and which features were impractical for use in U.S. banknotes. Also included is an outline of the various types of visual disabilities that impair an individual's ability to denominate banknotes. Recommended features and areas of research are described in detail. Banknote and other security document producers, and people interested in addressing needs and opportunities for visually disabled people in the United States will find this book useful.
Download or read book The Geography of Money written by Benjamin J. Cohen and published by Cornell University Press. This book was released on 2018-10-18 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The traditional assumption holds that the territory of money coincides precisely with the political frontiers of each nation state: France has the franc, the United Kingdom has the pound, the United States has the dollar. But the disparity between that simple mental landscape and the actual organization of currency spaces has grown in recent years, as territorial boundaries of individual states limit currency circulation less and less. Many currencies are used outside their "home" country for transactions either between nations or within foreign states. In this book, Benjamin J. Cohen asks what this new geography of money reveals about financial and political power. Cohen shows how recent changes in the geography of money challenge state sovereignty. He examines the role of money and the scope of cross-border currency competition in today's world. Drawing on new work in geography and network theory to explain the new spatial organization of monetary relations, Cohen suggests that international relations, political as well as economic, are being dramatically reshaped by the increasing interpenetration of national monetary spaces. This process, he explains, generates tensions and insecurities as well as opportunities for cooperation.
Download or read book General Principles for International Remittance Services written by Group of Ten. Committee on Payment and Settlement Systems and published by . This book was released on 2007 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money in the Dutch Republic written by Sebastian Felten and published by Cambridge University Press. This book was released on 2022-03-10 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Dutch Republic was an important hub in the early modern world-economy, a place where hundreds of monies were used alongside each other. Sebastian Felten explores regional, European and global circuits of exchange by analysing everyday practices in Dutch cities and villages in the period 1600-1850. He reveals how for peasants and craftsmen, stewards and churchmen, merchants and metallurgists, money was an everyday social technology that helped them to carve out a livelihood. With vivid examples of accounting and assaying practices, Felten offers a key to understanding the internal logic of early modern money. This book uses new archival evidence and an approach informed by the history of technology to show how plural currencies gave early modern users considerable agency. It explores how the move to uniform national currency limited this agency in the nineteenth century and thus helps us make sense of the new plurality of payments systems today.
Download or read book History of Money and Banking in the United States The Colonial Era to World War II A written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on 2002 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Brief History of the Gold Standard GS in the United States written by Craig K. Elwell and published by DIANE Publishing. This book was released on 2011-10 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. monetary system is based on paper money backed by the full faith and credit of the fed. gov't. The currency is neither valued in, backed by, nor officially convertible into gold or silver. Through much of its history, however, the U.S. was on a metallic standard of one sort or another. On occasion, there are calls to return to such a system. Such calls are usually accompanied by claims that gold or silver backing has provided considerable economic benefits in the past. This report reviews the history of the GS in the U.S. It clarifies the dates during which the GS was used, the type of GS in operation at the various times, and the statutory changes used to alter the GS and eventually end it. It is not a discussion of the merits of the GS. A print on demand oub.
