Concept
United States dollar
Related concepts (95)
Eurozone
The euro area, commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 20 eurozone members are: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Money creation
Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region, is increased. In most modern economies, money creation is controlled by the central banks. Money issued by central banks is termed base money. Central banks can increase the quantity of base money directly, by engaging in open market operations. However, the majority of the money supply is created by the commercial banking system in the form of bank deposits.
Euro
The euro (symbol: €; currency code: EUR) is the official currency of 20 of the member states of the European Union (EU). This group of states is officially known as the euro area or, commonly, the eurozone, and includes about 344 million citizens . The euro is divided into 100 euro cents. The currency is also used officially by the institutions of the European Union, by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo.
Lender of last resort
In public finance, a lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market when other facilities or such sources have been exhausted. It is, in effect, a government guarantee to provide liquidity to financial institutions. Since the beginning of the 20th century, most central banks have been providers of lender of last resort facilities, and their functions usually also include ensuring liquidity in the financial market in general.
Speculative attack
In economics, a speculative attack is a precipitous selling of untrustworthy assets by previously inactive speculators and the corresponding acquisition of some valuable assets (currencies, gold). The first model of a speculative attack was contained in a 1975 discussion paper on the gold market by Stephen Salant and Dale Henderson at the Federal Reserve Board. Paul Krugman, who visited the Board as a graduate student intern, soon adapted their mechanism to explain speculative attacks in the foreign exchange market.
Presidency of George Washington
The presidency of George Washington began on April 30, 1789, when Washington was inaugurated as the first president of the United States, and ended on March 4, 1797. Washington took office after the 1788–1789 presidential election, the nation's first quadrennial presidential election, in which he was elected unanimously. Washington was re-elected unanimously in the 1792 presidential election, and chose to retire after two terms. He was succeeded by his vice president, John Adams of the Federalist Party.
Associated Press
The Associated Press (AP) is an American not-for-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association, and produces news reports that are distributed to its members, U.S. newspapers and broadcasters. Since the award was established in 1917, the AP has earned 58 Pulitzer Prizes, including 35 for photography. It is also known for publishing the widely used AP Stylebook.
Portuguese escudo
The Portuguese escudo was the currency of Portugal from May 22, 1911, until the introduction of the euro on January 1, 2002. The escudo was subdivided into 100 centavos. The word escudo derives from the scutum shield. Amounts in escudos were written as escudos centavos with the cifrão as the decimal separator (for example: means , means ). Because of the conversion rate of 1,000 réis = , three decimal places were initially used ( = ). The currency replaced by the escudo in 1911 was denominated in Portuguese reals (plural: réis) and milréis worth 1,000 réis.
French franc
The franc (fræŋk; franc français, fʁɑ̃ fʁɑ̃sɛ; sign: F or Fr), also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced (in decimal form) in 1795. After two centuries of inflation, it was redenominated in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc.
Exchange rate regime
An exchange rate regime is a way a monetary authority of a country or currency union manages the currency about other currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors, such as economic scale and openness, inflation rate, the elasticity of the labor market, financial market development, and capital mobility. There are two major regime types: Floating (or flexible) exchange rate regime exist where exchange rates are determined solely by market forces and often manipulated by open-market operations.