Dollar signThe dollar sign, also known as peso sign, is a currency symbol consisting of a capital "S" crossed with one or two vertical strokes (ordependingontypeface),usedtoindicatetheunitofvariouscurrenciesaroundtheworld,includingmostcurrenciesdenominated"peso"and"dollar".Theexplicitlydouble−barredsigniscalledcifra~oinPortuguese.Thesignisalsousedinseveralcompoundcurrencysymbols,suchastheBrazilianreal(R) and the United States dollar (US$): in local use, the nationality prefix is usually omitted. DevaluationIn macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a revaluation. A monetary authority (e.g.
One country, two systems"One country, two systems" is a constitutional principle of the People's Republic of China (PRC) describing the governance of the special administrative regions of Hong Kong and Macau. The constitutional principle was formulated in the early 1980s during negotiations over Hong Kong between China and the United Kingdom. It provided that there would be only one China, but that these regions could retain their own economic and administrative systems, while the rest of mainland China uses the socialism with Chinese characteristics system.
RenminbiThe renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China. It is the 5th most traded currency as of April 2022. The yuan ( or ) is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao (), and the jiao is further subdivided into 10 fen (). The renminbi is issued by the People's Bank of China, the monetary authority of China.
Far EastIn European terminology, the Far East is the geographical region that encompasses the easternmost portion of the Asian continent, including East, North and Southeast Asia. South Asia is sometimes also included in the definition of the term. The term first came into use in European geopolitical discourse in the 15th century, particularly the British, denoting the Far East as the "farthest" of the three "Easts", beyond the Near East and the Middle East. Likewise, during the Qing dynasty of the 19th and early 20th centuries, the term "Tàixī (泰西)" – i.
PennyA penny is a coin (: pennies) or a unit of currency (: pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. Presently, it is the formal name of the British penny ( () p) and the de facto name of the American one-cent coin (abbr. ¢) as well as the informal Irish designation of the 1 cent euro coin (abbr. c).
CurrencyA currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies.
Silver standardThe silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years.
Internationalization of the renminbiSince the late-2000s, the People's Republic of China (PRC) has sought to internationalize its official currency, the Renminbi (RMB). RMB internationalization accelerated in 2009 when China established the dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity. The RMB was the 8th-most-traded currency in the world in 2013 and the 7th-most-traded in early 2014. By the end of 2014, RMB ranked 5th as the most traded currency, according to SWIFT's report, at 2.
