The country's current foreign-exchange system, which involves a fixed "official" exchange rate that makes the currency, the kyat, more than 100 times as valuable against the dollar as the black-market rate, is so confusing that many foreign companies have refused to re-enter the country even if Western leaders ease sanctions against Myanmar, the country also known as Burma, as expected later this year.

WSJ: Myanmar Announces Currency Reform

As a consequence, their proposed solutions do not address the underlying instability of the current system of floating paper currencies that bob about on foreign exchange markets whipped this way and that by forces that have little, if any correlation to the so-called underlying fundamentals.

FORBES: An International Gold Standard Beats The Rule Of The Governing Elite

The Moscow Exchange was created in 2011 from the merger of the Moscow Interbank Currency Exchange and the Russian Trading System, and only adopted its current name last year.

BBC: Moscow Exchange plans share flotation

The yuan hit a high against the U.S. dollar under the current system Monday, after the central bank guided the currency to its strongest level via a reference exchange rate.

WSJ: U.K. Banks Sell $245 Million Dim Sum Bonds in Singapore