query: what is australian currency?

title: Currency pair

text: a dot or a dash. A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR/USD. The quotation "EUR/USD 1.2500" means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency(counter currency). This means that 1 Euro can be exchangeable to 1.25 US Dollars. The most traded currency pairs in the world are called the "Majors". They involve the currencies euro, US dollar, Japanese yen, pound sterling, Australian dollar, Canadian dollar, and the Swiss franc. Currency quotations use the abbreviations for currencies

title: Commodity currency

text: Commodity currency A commodity currency is a name given to some currencies that co-move with the world prices of primary commodity products, due to these countries' heavy dependency on the export of certain raw materials for income. Commodity currencies are most popular in developing countries (eg. Burundi, Tanzania, Papua New Guinea). However developed countries like Canada and Australia can also have this type of currency. For example, the Canadian Dollar grows stronger, the higher the price of soybeans and oil because these are Canada's two major commodities. In the foreign exchange market, commodity currencies generally refer to the Australian dollar,

title: Synthetic currency pair

text: market. Currencies backed by economically and politically stable nations or unions such as USD and EUR are traded actively. Also, the more liquid the currency, the more demand there is for that currency. For example, United States dollar is world's most actively traded currency due to the size and strength of the United States economy and global acceptance of USD. The eight most traded currencies (in no specific order) are: the U.S. dollar (USD), the Canadian dollar (CAD), the euro (EUR), the British pound (GBP), the Swiss franc (CHF), the New Zealand dollar (NZD), the Australian dollar (AUD) and the

title: Currency substitution

text: financial assets denominated in a foreign currency. It can also occur as a gradual conversion to full currency substitution, for example, Argentina and Peru were both in the process of converting to the U.S. dollar during the 1990s. "Dollarization", when referring to currency substitution, does not necessarily involve use of the United States dollar. The currencies that have been used as substitutes have been the US dollar, the euro, and the Australian dollar. After the gold standard was abandoned at the outbreak of World War I and the Bretton Woods Conference following World War II, some countries sought exchange rate

title: Power reverse dual-currency note

text: the hedger would need to pay a higher swap rate as FX spot goes up, and receive a lower swap rate as FX spot goes down. This is an example of how the hedger of a PRDC note is short cross gamma. This was the main driver behind the increased market volatility in FX skew, long dated FX volatility, long dated Japanese Yen and Australian dollar interest rate, especially during the last quarter of 2008. Power reverse dual-currency note A "dual-currency note" (DC) pays coupons in the investor's domestic currency with the notional in the issuer’s domestic currency. A "reverse

title: Australian dollar

text: In 2016, the Australian dollar was the fifth most traded currency in the world, accounting for 6.9% of the world's daily share (down from 8.6% in 2013). It trades in the world foreign exchange markets behind the US dollar, the euro, the yen and the pound sterling. The Australian dollar is popular with currency traders, because of the comparatively high interest rates in Australia, the relative freedom of the foreign exchange market from government intervention, the general stability of Australia's economy and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the

title: Australian dollar

text: an international award for 'Best Silver Coin 2006' for its Silver Kangaroo coin design. In early 2015 the Reserve Bank of Australia announced that a tactile feature will be added to all new notes. The tactile feature is an embossed feature to assist the vision-impaired in identifying the denomination. A similar feature is used on the Canadian currency. Other main currencies Australian dollar The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including its external territories Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati,

title: Hard currency

text: against other currencies. Such softness is typically the result of political or fiscal instability within the associated country. The paper currencies of some developed countries have earned recognition as hard currencies at various times, including the United States dollar, Euro, Swiss franc, British pound sterling, Japanese yen, and to a lesser extent, the Canadian dollar and Australian dollar. As times change, a currency that is considered weak at one time may become stronger, or vice versa. However, countries that consistently run large trade surpluses tend to have hard currencies. One barometer of hard currencies is how they are favored within

title: Reserve currency

text: In the economy of the Americas, the Canadian dollar plays a similar role to that played by the Australian dollar (AUD) in the Asia-Pacific region. The Canadian dollar (as a regional reserve currency for banking) has been an important part of the British, French and Dutch Caribbean states' economies and finance systems since the 1950s. The Canadian dollar is also held by many central banks in Central America and South America. It is held in Latin America because of remittances and international trade in the region. Because Canada’s primary foreign-trade relationship is with the United States, Canadian consumers, economists, and

title: Currency Press

text: Currency Press Currency Press is Australia's only specialist performing arts publisher and its oldest independent publisher still active. Their list includes plays and screenplays, professional handbooks, biographies, cultural histories, critical studies and reference works. Currency Press was founded by Katharine Brisbane, then national theatre critic for "The Australian" newspaper, and her husband Philip Parsons, a lecturer in Drama at the University of New South Wales. After Philip's death in 1993, Katharine remained at the helm of the company until she retired as Publisher in December 2001 to devote her energies to Currency House, a non-profit association dedicated to the Australian

title: Currency Creek Arboretum

text: Currency Creek Arboretum The Currency Creek Arboretum (CCA; or Currency Creek Arboretum Eucalypt Research Centre) is located in the Australian state of South Australia near the small town of Currency Creek and south of the state capital of Adelaide. CCA is a specialist Eucalypt arboretum and research centre, composed solely of Australian native plants. Privately owned and operated, CCA is open by appointment only and does not charge entry fees. Run by volunteers, there is no paid staff. Dr. Dean Nicolle began looking for land between Mount Compass and Strathalbyn in 1990 to create an arboretum. The specific soil type

title: Currency Creek Arboretum

text: eucalypt conservation, cultivation, ecology, physiology, systematics, and taxonomy. Additional research consists of the cut flower industry and honey production, as well as tree use, such as firewood, shade, and windbreaks. Currency Creek Arboretum The Currency Creek Arboretum (CCA; or Currency Creek Arboretum Eucalypt Research Centre) is located in the Australian state of South Australia near the small town of Currency Creek and south of the state capital of Adelaide. CCA is a specialist Eucalypt arboretum and research centre, composed solely of Australian native plants. Privately owned and operated, CCA is open by appointment only and does not charge entry fees.

title: Currency

text: Currency A currency (from , "in circulation", from ), 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, US dollars, British pounds, Australian dollars, European euros and Russian ruble are examples of currency. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the

title: Currency board

text: Helena continue to operate currency boards, backing their locally printed currency notes with pound sterling reserves. A gold standard is a special case of a currency board where the value of the national currency is linked to the value of gold instead of a foreign currency. For a precise definition of what constitutes a currency board, including past examples, see: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate

title: What Is History?

text: and were instead products of their own places and times, which in turn decided what "facts of the past" they determined into "facts of history". British historian Richard J. Evans said "What Is History?" caused a revolution in British historiography in the 1960s. Australian historian Keith Windschuttle, a critic of Carr, said "What Is History?" is one of the most influential books written about historiography, and that very few historians working in the English language since the 1960s had not read it. What Is History? What Is History? is a study that was written by the English historian E. H.

title: Currency Press

text: performing arts. In 2011, Currency Press received the Dorothy Crawford Award for Outstanding Contribution to the Profession at the AWGIE Awards. Currency Press Currency Press is Australia's only specialist performing arts publisher and its oldest independent publisher still active. Their list includes plays and screenplays, professional handbooks, biographies, cultural histories, critical studies and reference works. Currency Press was founded by Katharine Brisbane, then national theatre critic for "The Australian" newspaper, and her husband Philip Parsons, a lecturer in Drama at the University of New South Wales. After Philip's death in 1993, Katharine remained at the helm of the company until

title: Currency House

text: Currency House Currency House Incorporated is an independent not-for-profit organisation based in New South Wales, Australia. Founded in 2000 by Katharine Brisbane, the organisation seeks to advocate for and support the performing arts in Australia. In addition to supporting the local community with pesticide public service announcements, Currency House's activities include the publication of "Platform Papers", a quarterly series of essays; the publication of books and other materials related to Australian culture; and organising public forums and other events. First published in 2004, "Platform Papers" is a quarterly series of essays focused on the performing arts that is intended to

title: Currency analytics

text: to forecasted cash flows and don’t allow hedging economic risk. Currency analytics allow companies to mitigate cash flow risk by uncovering accounting exposures to match the economic exposures so the company can hedge the accounting exposure as a proxy. Currency analytics enable what/if scenario analysis so companies can model how volatility in particular currencies could impact their revenue and expenses in the future. Currency analytics Companies that do business in more than one currency are exposed to exchange rate risk – that is, changes in the value of one currency versus another. Exchange rate risk (also known as foreign exchange

title: Currency Act

text: the debt from King William’s War. Other colonies quickly followed suit, and by 1715 ten of the thirteen had resorted to the issuance of paper currency. Economist Stanley Finkelstein highlights the advantage of paper currency, “that unless it is backed by specie it is cost free currency.” The paper currency depreciated quickly because the colonies printed more than what was taxed out of circulation. By 1740, Rhode Island bills of exchange were only four percent of face value and those of Massachusetts were eleven percent. The money supply was growing at a much faster rate than that of the overall

title: Currency union

text: Currency union A currency union (also known as monetary union) involves two or more states sharing the same currency without them necessarily having any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market). Three types of currency unions exist: The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency. Note: Every customs and monetary union and economic and monetary union also has a currency union. Additionally the autonomous and dependent territories,

title: What Bird is That?

text: Edition What Bird is That?" was published by Australia's Heritage Publishing in 2011, the latest release of Cayley’s “big bird book” complete with Lindsey’s revisions. It is 832 pages, features 769 birds and includes all 460 of Cayley’s full-colour paintings, many showing groups of related birds. New to this edition was an accompanying e-book "What Bird Call is That?", which identifies and illustrates 101 birds from "What Bird is That?", as well as providing sound files of each featured bird’s distinctive call. The sound files were provided by David Stewart. "What Bird is That?" plays a central role in Australian

title: What Is Life

text: performance of "What Is Life" that was "greeted with a reception that matched anything the New York audience at the Bangla Desh concerts expressed". English born Australian pop singer Olivia Newton-John recorded "What Is Life", along with a version of Harrison's "All Things Must Pass" track "Behind That Locked Door", for her 1972 album "Olivia". The song was arranged and produced by Bruce Welch of the Shadows and John Farrar, who was Newton-John's regular producer and collaborator during the 1970s. Released as a single in some countries, this version reached the UK top 20 in March 1972, peaking at number

title: Currency Creek wine region

text: Currency Creek wine region Currency Creek wine region is a wine region in South Australia that is located on the west side of Lake Alexandrina between Milang, the Murray Mouth, Port Elliot and just south of Ashbourne. The region received appellation as an Australian Geographical Indication (AGI) in 2001 and as of 2014, has a total planted area of and is represented by at least four wineries. The Currency Creek wine region is one of five wine zones forming the Fleurieu zone which located to the immediate south of Adelaide city centre in South Australia. The Currency Creek wine region

title: What Bird is That?

text: author Nick Earls' 1999 young adult novel "48 Shades of Brown". The 48 shades refers to the number of distinct browns used by Cayley to describe bird plumage colours. What Bird is That? What Bird is That? A Guide to the Birds of Australia is a book first published in 1931 by Angus & Robertson in Sydney. Authored and illustrated by Neville William Cayley, it was Australia’s first fully illustrated national field guide to birds, a function it served alone for nearly 40 years. In 1960 it was rated the all-time best seller in Australian natural history. "What Bird Is

title: What Bird is That?

text: What Bird is That? What Bird is That? A Guide to the Birds of Australia is a book first published in 1931 by Angus & Robertson in Sydney. Authored and illustrated by Neville William Cayley, it was Australia’s first fully illustrated national field guide to birds, a function it served alone for nearly 40 years. In 1960 it was rated the all-time best seller in Australian natural history. "What Bird Is That?" was originally published in octavo format (239 x 158 mm), containing 340 pages bound in green buckram, with a dust jacket illustrated with a painting of a laughing

title: Currency swap

text: who will pass it on to the American company so it can pay its U.S. bondholders. At maturity, the American company will pay £100 million to the swap bank who will pass it on to the British company so it can pay its British bondholders. It is well recognized that traditional "textbook" theory does not price cross currency (basis) swaps correctly, because it assumes the funding cost in each currency to be equal to its floating rate, thus always giving a zero cross currency spread. This is clearly contrary to what is observed in the market. In reality, market participants

title: Currency-counting machine

text: Currency-counting machine A currency-counting machine is a machine that counts money—either stacks of banknotes or loose collections of coins. Counters may be purely mechanical or use electronic components. The machines typically provide a total count of all money, or count off specific batch sizes for wrapping and storage. Currency counters are commonly used in vending machines to determine what amount of money has been deposited by customers. In some modern automated teller machines, currency counters allow for cash deposits without envelopes, since they can identify which bills have been inserted instead of just how many. The user is given the

title: Currency

text: a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast. It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the

title: Digital currency

text: addition, over 90 central banks are engaged in DLT discussions, including implications of a central bank issued digital currency. In March 2018, the Marshall Islands became the first country to issue their own cryptocurrency and certify it as legal tender; the currency is called the "sovereign". Canada The Bank of Canada have explored the possibility of creating a version of its currency on the blockchain. The Bank of Canada teamed up with the nation’s five largest banks — and the blockchain consulting firm R3 — for what was known as Project Jasper. In a simulation run in 2016, the central

title: Currency

text: 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 political jurisdictions. Others are simply traded for their economic

title: Currency Creek Game Reserve

text: spp herbland. The game reserve is classified as an IUCN Category VI protected area. In 1980, it was listed on the now-defunct Register of the National Estate. Currency Creek Game Reserve Currency Creek Game Reserve is a protected area in the Australian state of South Australia located on the south-western side of Lake Alexandrina in the gazetted localities of Currency Creek and Goolwa North about north-east of Goolwa. The game reserve occupies land in sections 309 and 458 in the cadastral unit of the Hundred of Nangkita and section 425 in the Hundred of Goolwa. It was proclaimed on 19

title: Private currency

text: for private currencies. Now, s. 44(1) of the Australian "Reserve Bank Act 1959", prohibits this practice. In 1976, Wickrema Weerasooria published an article which suggested that the issuing of bank cheques violated this section, though some banks responded that since bank cheques were printed with the words "not negotiable" on them, the cheques were not intended for circulation and thus did not violate the statute. In Hong Kong, although the government issues currency, bank-issued private currency is the dominant medium of exchange. Most automated teller machines dispense private Hong Kong bank notes. In Scotland, the Bank of Scotland, Clydesdale Bank,

title: Currency Creek Game Reserve

text: Currency Creek Game Reserve Currency Creek Game Reserve is a protected area in the Australian state of South Australia located on the south-western side of Lake Alexandrina in the gazetted localities of Currency Creek and Goolwa North about north-east of Goolwa. The game reserve occupies land in sections 309 and 458 in the cadastral unit of the Hundred of Nangkita and section 425 in the Hundred of Goolwa. It was proclaimed on 19 June 1975 under the "National Parks and Wildlife Act 1972" in respect to sections 309 and 425. Section 458 was added on 27 May 1976. In 1980,

title: Currency Act

text: than what was taxed out of circulation, the currency depreciated in relation to the British pound sterling. The resultant inflation was harmful to merchants in Great Britain, who were forced to accept the depreciated currency from colonists for payment of debts. The Act limited the future issue of bills of credit to certain circumstances. It allowed the existing bills to be used as legal tender for public debts (i.e. paying taxes), but disallowed their use for private debts (e.g. for paying merchants). The Currency Act 1764 (4 Geo. III c. 34) extended the 1751 Act to all of the British

title: Currency pair

text: Currency pair A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency, quote currency or currency and the currency that is quoted in relation is called the base currency or transaction currency. Currency pairs are generally written by concatenating the ISO currency codes (ISO 4217) of the base currency and the counter currency, and then separating the two codes with a slash. Alternatively the slash may be omitted, or replaced by either

title: What Is the What

text: What Is the What What Is the What: The Autobiography of Valentino Achak Deng is a 2006 novel written by Dave Eggers. It is based on the life of Valentino Achak Deng, a Sudanese child refugee who immigrated to the United States under the Lost Boys of Sudan program. It was a finalist for the National Book Award. As a boy, Achak is separated from his family during the Second Sudanese Civil War when the Arab militia, referred to as "murahaleen" (which is Arabic for the deported), wipes out his Dinka village, Marial Bai. During the assault, he loses sight

title: What Is the What

text: That Happens Will Happen Today". Tom Tykwer plans to adapt the novel into a film. In 2009, the novel received the Prix Médicis étranger in France. What Is the What What Is the What: The Autobiography of Valentino Achak Deng is a 2006 novel written by Dave Eggers. It is based on the life of Valentino Achak Deng, a Sudanese child refugee who immigrated to the United States under the Lost Boys of Sudan program. It was a finalist for the National Book Award. As a boy, Achak is separated from his family during the Second Sudanese Civil War when

title: International Convention for the Suppression of Counterfeiting Currency

text: International Convention for the Suppression of Counterfeiting Currency The International Convention for the Suppression of Counterfeiting Currency () is a 1929 League of Nations treaty whereby states agree to criminalise acts of currency counterfeiting. It remains the principal international agreement on currency counterfeiting. States that ratify the Convention agree to criminalise the creation, use, and exportation or importation of counterfeit currency. Under the agreement, no distinction is to be made as to what currency is the subject of the crime. Under the treaty, currency counterfeiting is an extraditable offence. States also agree to establish a central office that will forward

title: Currency Creek wine region

text: while white wines varietals account for of plantings. The total 2014 vintage is reported as consisting of of crushed red grapes valued at A$4,876,849and of crushed white grapes valued at A$698,672. As of 2014, the region is reported as having four wineries. Currency Creek wine region Currency Creek wine region is a wine region in South Australia that is located on the west side of Lake Alexandrina between Milang, the Murray Mouth, Port Elliot and just south of Ashbourne. The region received appellation as an Australian Geographical Indication (AGI) in 2001 and as of 2014, has a total planted area

title: Currency substitution

text: currency substitution by adopting the US dollar as legal tender in 1904. This type of currency substitution is also known as de jure currency substitution. Currency substitution can be used semiofficially (or officially bimonetary systems), where the foreign currency is legal tender alongside the domestic currency. In literature, there is a set of related definitions of currency substitution such as external liability currency substitution, domestic liability currency substitution, banking sector's liability currency substitution or deposit currency substitution, and credit dollarlization. External liability currency substitution measures total external debt (private and public) denominated in foreign currencies of the economy. Deposit currency

title: Currency analytics

text: Currency analytics Companies that do business in more than one currency are exposed to exchange rate risk – that is, changes in the value of one currency versus another. Exchange rate risk (also known as foreign exchange risk, FX risk, or currency risk) is especially high in periods of high currency volatility. Currency analytics are technology tools that enable global companies to manage the risk associated with currency volatility. Currency analytics often involve automation that helps companies access and validate currency exposure data and make decisions that mitigate currency risk. Currency volatility can impact a company’s balance sheet and/or cash

title: Currency substitution

text: the share of all foreign currency deposits held by domestic residents at home and abroad in their total monetary assets. Unofficial currency substitution or de facto currency substitution is the most common type of currency substitution. Unofficial currency substitution occurs when residents of a country choose to hold a significant share of their financial assets in foreign currency, even though the foreign currency is not legal tender there. They hold deposits in the foreign currency because of a bad track record of the local currency, or as a hedge against inflation of the domestic currency. Official currency substitution or full

title: Reserve currency

text: Reserve currency A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves. The reserve currency is commonly used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe-haven currency. People who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than people in other nations because they do not need to exchange their currency to do so. By the end of the 20th century,

title: Currency lads and lasses

text: of illegality, inferior quality, and subordination. By analogy, native-born colonials came to be known as "currency", in contrast to the British-born "sterling". The first reference in print to the native-born being called "currency" was in the "Sydney Gazette" of 13 September 1822, in a letter signed by "Lydia Languish" calling for more social events to be organised for "currency lasses". As applied to people rather money, the term originally had derogatory connotations – by the early 1820s, "currency had stuck for male and female native-born and everyone knew what it implied". However, it was soon reclaimed by the native-born as

title: Currency overlay

text: is generally increased by adding currency exposure, yet there is no risk premium earned for that added volatility in the long term. Thus investors with international portfolios often hedge their currency risk, normally using forward currency contracts, currency swaps, currency futures contracts, or currency options. Currency hedging can be done passively or actively. The stream of returns from passive currency overlay is negatively correlated with international equities, has an expected return of zero, and does not employ any capital. The overlay manager uses forward contracts to match the portfolio’s currency exposures in such a way as to insure against exchange

title: Hard currency

text: Hard currency Hard currency, safe-haven currency or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's "hard" status might include the long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank. Safe haven currency is defined as a currency which behaves like a hedge for a reference portfolio of risky assets conditional on movements in global risk aversion. Conversely, a soft currency indicates a currency which is expected to fluctuate erratically or depreciate

title: Local currency

text: Local currency In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. The currency may not be backed by a national government or be legal tender. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database. Some definitions: The

title: Currency substitution

text: displaced by a stable currency. At the beginning of this process, the store-of-value function of the domestic currency is replaced by the foreign currency. Then, the unit-of-account function of the domestic currency is displaced when many prices are quoted in a foreign currency. A prolonged period of high inflation will induce the domestic currency to lose its function as medium of exchange when the public carries out many transactions in foreign currency. Ize and Levy-Yeyati (1998) examine the determinants of deposit and credit currency substitution, concluding that currency substitution is driven by the volatility of inflation and the real exchange

title: Here Is What Is

text: Here Is What Is Here Is What Is is the fifth studio album by Canadian songwriter and record producer Daniel Lanois. It was first released in December 2007 as a high-quality download, and later released on CD on March 18, 2008. The album is the result of the same project that led to the 2007 documentary "Here Is What Is" that premiered at the 2007 Toronto International Film Festival in September. The movie documents the aesthetics and creative process behind Lanois' approach to music making and recording. The album has been presented as a direct soundtrack to this film, and

title: Currency

text: mostly paper, but Australia's Commonwealth Scientific and Industrial Research Organisation developed the world's first polymer currency in the 1980s that went into circulation on the nation's bicentenary in 1988. Now used in some 22 countries (over 40 if counting commemorative issues), polymer currency dramatically improves the life span of banknotes and prevents counterfeiting. Currency use is based on the concept of lex monetae; that a sovereign state decides which currency it shall use. Currently, the International Organization for Standardization has introduced a three-letter system of codes (ISO 4217) to define currency (as opposed to simple names or currency signs), in

title: Currency strength

text: Currency strength Currency strength expresses the value of currency. For economists, it is often calculated as purchasing power, while for financial traders, it can be described as an indicator, reflecting many factors related to the currency; for example, fundamental data, overall economic performance or interest rates. It can also be calculated from currency in relation to other currencies, usually using a pre-defined currency basket. A typical example of this method is the U.S. Dollar Index. The current trend in currency strength indicators is to combine more currency indexes in order to make forex movements easily visible. For the calculation of

title: What Bird is That?

text: according to their usual habitat. The accompanying text included brief notes on distribution, breeding and behaviour. While initial sales were poor, history tells us that Cayley had accurately discerned a market need and successfully responded to it. During WWII sales accelerated and Cayley’s first collection, reprinted time and time again, eventually became a household name among birdwatchers and the book was recognised as an Australian classic. The original sponsorship of "What Bird is That?" proved a great investment for the Gould League, who benefited from the sale of its numerous reprints and revised editions. By 1960, it was rated the

title: Mutilated currency

text: Mutilated currency Mutilated currency is a term used by the United States Bureau of Engraving and Printing (BEP) to describe currency which is damaged to the point where it is difficult to determine the value of the currency, or where it is not clear that at least half of the note is present. Common causes of damage are fire, water, chemicals, explosives, animals or damage from extended burying of the currency. Replacement of mutilated currency is a free public service provided by the Bureau of Engraving and Printing. In general, mutilated U.S. paper currency can be submitted for evaluation. If

title: Dynamic currency conversion

text: to the customer. Opponents of the service believe that customers do not understand DCC, and point out that DCC exchange rate markups are mostly higher than the card issuers' currency conversion fees that DCC avoids, and therefore, in almost all cases, opting for DCC will result in a higher charge to the cardholder. Due to the strategic threat posed by DCC on Visa's core revenues, in 2010 Visa attempted to ban DCC - The Australian federal courts found Visa has acted anti competivley in order to protect its own revenues and was fined $20 million. A dynamic currency conversion service

title: Circulation (currency)

text: Circulation (currency) In monetary economics, circulation is the continuing use of individual units of a currency for transactions. Thus currency in circulation is the total value of currency (coins and paper currency) that has ever been issued minus the amount that has been removed from the economy by the central bank. More broadly, money in circulation is the total money supply of a country, which can be defined in various ways always including currency and also including some types of bank deposits. Standard money is the basic currency circulating within a monetary system. It has legal recognition for prices and

title: Currency board

text: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target. The main qualities of an orthodox currency board are: The currency board in question will no longer issue fiat money but instead will only issue one unit of local currency for each unit (or decided amount) of foreign currency it has in its vault (often a hard currency such as the U.S. dollar or the euro). The surplus on

title: Currency substitution

text: effect of this regulation on the pattern of currency substitution depends on the public's expectations of macroeconomic stability and the sustainability of the foreign exchange regime. Currency substitution Currency substitution or dollarization is the use of a foreign currency in parallel to or instead of the domestic currency. Currency substitution can be full or partial. Most, if not all, full currency substitution has taken place after a major economic crisis, for example, Ecuador and El Salvador in Latin America and Zimbabwe in Africa. Some small economies, for whom it is impractical to maintain an independent currency, use those of their

title: Currency substitution

text: Currency substitution Currency substitution or dollarization is the use of a foreign currency in parallel to or instead of the domestic currency. Currency substitution can be full or partial. Most, if not all, full currency substitution has taken place after a major economic crisis, for example, Ecuador and El Salvador in Latin America and Zimbabwe in Africa. Some small economies, for whom it is impractical to maintain an independent currency, use those of their larger neighbours; for example Liechtenstein uses the Swiss Franc. Partial currency substitution occurs when residents of a country choose to hold a significant share of their

title: Currency strength

text: on moves in correlated instruments (for example CAD/OIL or AUD/GOLD); look for a strong trend in one currency; and observe most of the forex market in one chart. Typical examples of indicators based on currency strength are relative currency strength and absolute currency strength (percentage). Their combination is called the "Forex Flow indicator", because you are able to see the whole currency flow across the forex market. Currency strength Currency strength expresses the value of currency. For economists, it is often calculated as purchasing power, while for financial traders, it can be described as an indicator, reflecting many factors related

title: Khaleeji (currency)

text: union in 2001 and 2003. The terms of what would be called the "GCC Monetary Agreement" followed shortly after that, with the convergence criteria of the single currency being decided in 2005. Oman became the first state to pull out of the union, in 2006, and the UAE, in 2009, the second and so far last state to withdraw from this tentative agreement to create a single Gulf currency. Originally slated for adoption in 2010, Nasser al-Kaud, deputy assistant general for economic affairs at the GCC, admitted on March 24, 2009, that this deadline for establishment of the monetary union

title: Khaleeji (currency)

text: on November 23, 2009, statements by the UAE Central Bank Governor Sultan bin Nasser al-Suweidi stated that the greatest obstacle was the lack of a precursor unit of account. The currency, if adopted, would be the sole legal tender in Saudi Arabia, Kuwait, Bahrain and Qatar. Oman and the UAE have announced that they will not adopt the new currency until further notice. It would be seen as a further step in the expanding remit of what was originally intended as an organization for security cooperation between the GCC states, which then grew into an economic agreement and a customs

title: Currency converter

text: is useful when: Currency converters are often used as a means of checking the relative value of a currency before exchanging it into another currency. This is useful for the traveler because the traveler can check the value of a foreign county’s currency before exchanging money. These programs list the value of a foreign country’s currency relative to the traveler’s own currency. The currency conversion software calculates the rates as decimal point numbers with typically 4 decimals after the comma. Some may calculate the conversion rates with more decimals internally but only 4 are displayed. This is related to precision,

title: I Want to Know What Love Is

text: In 1985, the New Jersey Mass Choir released the Prelude Records album entitled "I Want to Know What Love Is". The album's fifth track, "I Want to Know What Love Is", was released as a single in the gospel music market which garnered several awards within the industry. "I Want to Know What Love Is" was covered by Australian singer Tina Arena and her recording was released as a single in 1998 from her album "In Deep". Arena's version of the song was produced by Foreigner band member Mick Jones, who wrote the song. This version of the song includes

title: Currency strength

text: indexes of this kind, major currencies are usually used because they represent up to 90% of the whole forex market volume. Currency strength is calculated from the U.S. Dollar Index, which is used as a reference for other currency indexes. The basic idea behind indicators is "to buy strong currency and to sell weak currency". If is X/Y currency pair is up trend, you are able to determine whether this happens due to X's strength or Y's weakness. With indicators of this kind one is able to choose the most valuable pair to trade; see the reactions of each currency

title: Mutilated currency

text: not considered mutilated and can be traded in at any bank from where they will eventually be processed out of circulation. Mutilated currency Mutilated currency is a term used by the United States Bureau of Engraving and Printing (BEP) to describe currency which is damaged to the point where it is difficult to determine the value of the currency, or where it is not clear that at least half of the note is present. Common causes of damage are fire, water, chemicals, explosives, animals or damage from extended burying of the currency. Replacement of mutilated currency is a free public

title: Demurrage (currency)

text: Demurrage (currency) Demurrage is the cost associated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money. For commodity money such as gold, demurrage is the cost of storing and securing the gold. For paper currency, it can take the form of a periodic tax, such as a stamp tax, on currency holdings. Demurrage is sometimes cited as economically advantageous, usually in the context of complementary currency systems. While demurrage is a natural feature of private commodity money, it has at various times been deliberately incorporated into currency systems as

title: Currency crisis

text: Currency crisis A currency crisis is a situation in which serious doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate. The crisis is often accompanied by a speculative attack in the foreign exchange market. A currency crisis results from chronic balance of payments deficits, and thus is also called a balance of payments crisis. Often such a crisis culminates in a devaluation of the currency. A currency crisis is a type of financial crisis, and is often associated with a real economic crisis. A currency crisis raises the

title: World currency

text: a single world currency is unnecessary, because the U.S. dollar is providing many of the benefits of a world currency while avoiding some of the costs. If the world does not form an optimum currency area, then it would be economically inefficient for the world to share one currency. In the present world, nations are not able to work together closely enough to be able to produce and support a common currency. There has to be a high level of trust between different countries before a true world currency could be created. A world currency might even undermine national sovereignty

title: Functional currency

text: Functional currency Functional currency refers to the main currency used by a business or unit of a business. It is the monetary unit of account of the principal economic environment in which an economic entity operates. International Accounting Standards (IAS) and U.S. Generally Accepted Accounting Principles (GAAP) provide rules for translation of foreign currency transactions and financial statements. SFAS 52 introduced the concept of functional currency, defined as "the currency of the primary economic environment in which the entity operates; normally, that is, the currency of the environment in which an entity primarily generates and expends cash." Businesses may enter

title: Currency manipulator

text: Currency manipulator Currency manipulator is a popular term used to indicate countries that manipulate the rate of exchange for purposes of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade or simply a country that intervenes in its foreign exchange market. Currency manipulation or currency intervention is a monetary policy operation which occurs when a government or central bank buys or sells foreign currency in exchange for their own domestic currency, generally with the intention of influencing the exchange rate and trade policy. Policymakers may have different reasons for currency manipulation, such as controlling inflation,

title: Foreign currency mortgage

text: Foreign currency mortgage A foreign currency mortgage is a mortgage which is repayable in a currency other than the currency of the country in which the borrower is a resident. Foreign currency mortgages can be used to finance both personal mortgages and corporate mortgages. The interest rate charged on a Foreign currency mortgage is based on the interest rates applicable to the currency in which the mortgage is denominated and not the interest rates applicable to the borrower's own domestic currency. Therefore, a Foreign currency mortgage should only be considered when the interest rate on the foreign currency is significantly

title: Currency

text: of tax evasion. Local currencies can also come into being when there is economic turmoil involving the national currency. An example of this is the Argentinian economic crisis of 2002 in which IOUs issued by local governments quickly took on some of the characteristics of local currencies. One of the best examples of a local currency is the original LETS currency, founded on Vancouver Island in the early 1980s. In 1982, the Canadian Central Bank’s lending rates ran up to 14% which drove chartered bank lending rates as high as 19%. The resulting currency and credit scarcity left island residents

title: Currency converter

text: and sell at a high rate, while a traveler could wait to exchange money at home in a favorable market. 3. Currency Converter Currency converter A currency converter is software code that is designed to convert one currency into another in order to check its corresponding value. The code is generally a part of a web site or it forms a mobile app and it is based on current market or bank exchange rates. In order to convert one currency into another, a user enters an amount of money (e.g. '1000') and chooses the currency he/she wishes to check the

title: Complementary currency

text: Time Banking inventor Edgar S. Cahn, Complementary Currency Resource Center coordinator Stephen DeMeulenaere and many others. Lietaer has argued that the world's national currencies are inadequate for the world's business needs, citing how 87 countries have experienced major currency crashes over a 20-year period, and arguing for complementary currencies as a way to protect against these problems. Lietaer has also spoken at an International Reciprocal Trade Association (IRTA) conference about barter. Others include: Complementary currency A complementary currency is a currency or medium of exchange which is not a national currency, but which is thought of as supplementing or complementing

title: Australian dollar

text: of New South Wales in 1816. After 1901, when the Australian colonies federated into a single Commonwealth, the federal government became responsible for the currency. The Bank Notes Tax Act 1910 effectively brought private and state currencies to an end. In 1913 the first series of Australian notes was issued, based on the old British system of 12 pence to a shilling, 20 shillings to a pound. In 1963, Australia initiated the change to decimal currency. More than 1000 submissions were made about the name of the new currency unit. The Prime Minister of the day, Sir Robert Menzies, proposed

title: Currency

text: with few options other than to create a local currency. The following table are estimates of the 15 most frequently used currencies in world payments from 2012 to 2018 by SWIFT. Related concepts Accounting units Lists Currency A currency (from , "in circulation", from ), 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,

title: (What Is) Love?

text: (What Is) Love? "(What Is) Love?" is a song recorded by American entertainer Jennifer Lopez. Originally entitled "What Is Love?", the song appeared on the soundtrack to "The Back-up Plan" (2010), a film in which Lopez stars. The song was later included on Lopez's seventh studio album "Love?" (2011), as the album's title track. "(What Is) Love?" is a midtempo electropop song written by Diana "Wynter" Gordon, with the song's producer Emile "D'Mile" Dernst II. The song is about "not knowing what love is," according to Gordon. A remix of "(What Is) Love?", entitled "What Is Love? Part II", was

title: Virtual currency

text: to its regulations defining currency as "the coin and paper money of the United States or of any other country that [i] is designated as legal tender and that [ii] circulates and [iii] is customarily used and accepted as a medium of exchange in the country of issuance", also called "real currency" by FinCEN, defined virtual currency as "a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency". In particular, virtual currency does not have legal tender status in any jurisdiction. In 2014, the European Banking Authority defined

title: World currency

text: World currency In the foreign exchange market and international finance, a world currency, supranational currency, or global currency is a currency that is transacted internationally, with no set borders. In the 17th and 18th centuries, the use of silver Spanish dollars or "pieces of eight" spread from the Spanish territories in the Americas westwards to Asia and eastwards to Europe, forming the first worldwide currency. Spain's political supremacy on the world stage, the importance of Spanish commercial routes across the Atlantic and the Pacific, and the coin's quality and purity of silver helped it become internationally accepted for over two

title: Currency swap

text: South Korea imported goods worth $13.2 billion from Indonesia, while its exports reached $11.6 billion. In August 2018, Qatar and Turkey's central banks signed a currency swap agreement to provide liquidity and support for financial stability. Japan and India signed a currency swap agreement worth US$75 billion in October, 2018, which has been one of the largest bilateral currency swap agreements. Currency swap In finance, a currency swap (more typically termed a cross-currency swap (XCS)) is an interest rate derivative (IRD). In particular it is a linear IRD and one of the most liquid, benchmark products spanning multiple currencies simultaneously.

title: Currency substitution

text: in a context of stable macroeconomic fundamentals and long-standing unofficial currency substitution. The eurozone adopted the euro (€) as its common currency and sole legal tender in 1999, which might be considered a variety of full-commitment regime similar to full currency substitution despite some evident differences from other currency substitutions. For more on dollarisation, cf. Fields, David, and Matías Vernengo. "Dollarization." The Wiley-Blackwell Encyclopedia of Globalization (2013). There are two common indicators of currency substitution. The first measure is the share of foreign currency deposits (FCD) in the domestic banking system in the broad money including FCD. The second is

title: Currency manipulator

text: 2% of GDP spent buying foreign assets to depress the value of its currency.” This shows that from an international perspective (instead of a U.S. perspective), China has not been the major currency manipulator since 2009. Currency manipulator Currency manipulator is a popular term used to indicate countries that manipulate the rate of exchange for purposes of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade or simply a country that intervenes in its foreign exchange market. Currency manipulation or currency intervention is a monetary policy operation which occurs when a government or central bank

title: Currency swap

text: have different levels of access to funds in different currencies and therefore their funding costs are not always equal to LIBOR. An approach to work around this is to select one currency as the funding currency (e.g. USD), and select one curve in this currency as the discount curve (e.g. USD interest rate swap curve against 3M LIBOR). Cashflows in the funding currency are discounted on this curve. Cashflows in any other currency are first swapped into the funding currency via a cross currency swap and then discounted. XCSs expose users to many different types of financial risk. Predominantly they

title: Currency substitution

text: currency substitution happens when a country adopts a foreign currency as its sole legal tender, and ceases to issue the domestic currency. Another effect of a country adopting a foreign currency as its own is that the country gives up all power to vary its exchange rate. There are a small number of countries adopting a foreign currency as legal tender. Full currency substitution has mostly occurred in Latin America, the Caribbean and the Pacific, as many countries in those regions see the United States Dollar as a stable currency compared to the national one. For example, Panama underwent full

title: Here Is What Is

text: some of the tracks ("Beauty" and "Chest of Drawers") are conversations with Brian Eno. All songs written by Daniel Lanois unless otherwise noted. "Where Will I Be" is a new version of a song which had been previously released on Emmylou Harris' album "Wrecking Ball" in 1995. "Lovechild" and "Sacred And Secular" tracks incorporates, respectively, the pedal steel guitar melody used in "Carla", on Belladonna album, and the pedal steel guitar melody used in "Transmitter", on Shine album. Here Is What Is Here Is What Is is the fifth studio album by Canadian songwriter and record producer Daniel Lanois. It

title: Emissions Reduction Currency System

text: aid society within the community and we would like to make them a tool for deepening interpersonal relationships and trust." http://www.qoin.org/what-we-do/past-projects/kyoto4all/ Kyoto4All was a 2006 report written by Peter van Luttervelt, David Beatty and Edgar Kampers for the Dutch Ministry of Environment (then named VROM). The study described a series of monetary models to connect citizens-consumers to the climate change targets of the post-Kyoto period. The Maia Maia Emissions Reduction Currency System, is a scheme developed in Western Australia. The system currency is known as a "boya", named after the indigenous Nyungar people's word for rock trading tokens used by

title: Absolute currency strength

text: strength. Shorter or longer timeframes are used for alternately shorter or longer outlooks. Extreme high and low percentage values occur less frequently but indicate stronger momentum of currency. ACS is in most cases used as support indicator for Relative currency strength indicator. But it can be used by itself for currency trading. One can use Absolute currency strength for pattern trading as well. Combination of RCS and ACS indicators gives entry and exit signals for currency trading. Indicator basic idea is "buy strong currency and sell weak currency". If is X/Y currency pair in uptrend, it shows if it is

title: Virtual currency

text: and (2) that persons may obtain by their own computing or manufacturing effort". Rather than relying on confidence in a central authority, it depends instead on a distributed system of trust. Digital currency is a particular form of currency that is electronically transferred and stored, i.e., distinct from physical currency, such as coins or banknotes. According to the European Central Bank, virtual currencies are "generally digital", although their enduring precursor, the coupon, for example, is physical. A cryptocurrency is a digital currency using cryptography to secure transactions and to control the creation of new currency units. Since not all virtual

title: Currency converter

text: Currency converter A currency converter is software code that is designed to convert one currency into another in order to check its corresponding value. The code is generally a part of a web site or it forms a mobile app and it is based on current market or bank exchange rates. In order to convert one currency into another, a user enters an amount of money (e.g. '1000') and chooses the currency he/she wishes to check the monetary value of (e.g. 'United States Dollar'). After that, the user selects one, or sometimes several other currencies, he/she would like to see

title: Ora (currency)

text: Efficient Group, a South African financial services company, is currently tasked with developing the digital currency in order to reduce costs that are incurred by printing notes. Ora (currency) The Ora (symbol:Φ, ) is the local currency of Orania, an Afrikaner enclave in South Africa. It is pegged at par with the South African rand. The name, recalling that of the town where it circulates, derives from Latin "aurum", meaning "gold". The currency is not sanctioned by the South African Reserve Bank. The first notes were issued in April 2004 to provide an internal currency for Orania as part of

title: Private currency

text: Private currency A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies the minting of metal coins intended to be used as currency may even be a criminal act such as in the United States (18 U.S. Code § 486). Digital cryptocurrency is sometimes treated differently; for example, this is legal in the United States but illegal in a few countries (mainly in West

title: Complementary currency

text: Complementary currency A complementary currency is a currency or medium of exchange which is not a national currency, but which is thought of as supplementing or complementing national currencies. Complementary currencies are usually not legal tender and their use is based on agreement between the parties exchanging the currency. According to Jérôme Blanc of Laboratoire d'Économie de la Firme et des Institutions, complementary currencies aim to protect, stimulate or orientate the economy. They may also be used to advance particular social, environmental, or political goals. When speaking about complementary currencies, a number of overlapping and often interchangeable terms are in

title: Currency crisis

text: crisis as a 'balance of payments crisis' are changing the meaning of the term. Currency crisis A currency crisis is a situation in which serious doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate. The crisis is often accompanied by a speculative attack in the foreign exchange market. A currency crisis results from chronic balance of payments deficits, and thus is also called a balance of payments crisis. Often such a crisis culminates in a devaluation of the currency. A currency crisis is a type of financial crisis,

title: Currency

text: 5 khoums, while the Malagasy ariary is theoretically divided into 5 iraimbilanja. In these countries, words like "dollar" or "pound" "were simply names for given weights of gold." Due to inflation khoums and iraimbilanja have in practice fallen into disuse. (See non-decimal currencies for other historic currencies with non-decimal divisions.) Convertibility of a currency determines the ability of an individual, corporate or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. Based on the above restrictions or free and readily conversion features, currencies are classified as: In economics, a local currency

title: Synthetic currency pair

text: Synthetic currency pair In foreign exchange market, synthetic currency pair or synthetic cross currency pair is an artificial currency pair which generally is not available in market but one needs to trade across those pairs. One highly traded currency, usually United States dollar, which trades with the target currencies, is taken as intermediary currency and offsetting positions are taken on target currencies. The use of synthetic cross currency pairs has become less common with wide availability of most common currency pairs in the market. There are many official currencies worldwide but not all currencies are traded actively in the forex

title: Currency strength index

text: Currency strength index Currency strength index expresses the index value of currency. For economists, it is often calculated as purchasing power, while for financial traders, it can be described as an indicator, reflecting many factors related to the currency; for example, fundamental data, overall economic performance or interest rates. It can also be calculated from currency in relation to other currencies, usually using a pre-defined currency basket. A typical example of this method is the U.S. Dollar Index. The current trend in currency strength indicators is to combine more currency indexes in order to make forex movements easily visible. For

title: Currency swap

text: Currency swap In finance, a currency swap (more typically termed a cross-currency swap (XCS)) is an interest rate derivative (IRD). In particular it is a linear IRD and one of the most liquid, benchmark products spanning multiple currencies simultaneously. It has pricing associations with interest rate swaps (IRSs), foreign exchange (FX) rates, and FX swaps (FXSs). A cross-currency swap's (XCS's) effective description is a derivative contract, agreed between two counterparties, which specifies the nature of an exchange of payments benchmarked against two interest rate indexes denominated in two different currencies. It also specifies an initial exchange of notional currency in

title: PLENTY (currency)

text: PLENTY (currency) The PLENTY (Piedmont Local Economy Tender) is a local currency used and accepted by some businesses in Pittsboro, North Carolina. The currency is managed by the PLENTY Currency Cooperative Corporation and is backed by Capital Bank Financial with United States dollars. , 10 PLENTYs may be purchased for US$10. PLENTYs can be traded for goods or services, or exchanged for United States dollars at businesses that accept them. PLENTY are offered in 50, 20, 10, 5 and 1 denomination bills and feature the phrase "In Each Other We Trust." The logo and currency were designed by artist Emma

title: Currency substitution

text: currency will be satisfied in the holding of foreign currency assets abroad and outside the domestic banking system. This demand often puts pressure on the parallel market of foreign currency and on the country's international reserves. Evidence for this pattern is given in the absence of currency substitution during the pre-reform period in most transition economies, because of constricted controls on foreign exchange and the banking system. In contrary, by facilitating the domestic holding of foreign currency, a country might mitigate the shift of assets abroad and strengthen its external reserves in exchange for a currency substitution process. However, the

title: Reserve currency

text: and long-term international objectives when a national currency also serves as a world reserve currency. The IMF regularly publishes the aggregated "Currency Composition of Foreign Exchange Reserves" (COFER). The reserves of the individual reporting countries and institutions are confidential. Thus the following table is a limited view about the global currency reserves that only deals with allocated reserves: Economists debate whether a single reserve currency will always dominate the global economy. Many have recently argued that one currency will almost always dominate due to network externalities (sometimes called "the network effect"), especially in the field of invoicing trade and denominating