He said that foreign pressure would not force China to move faster to free its exchange rate.

ECONOMIST: Economics focus

Smaller countries would then be free to fix their exchange rate to any one of the gold backed currencies.

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

As soon as possible, they need to free prices, including the exchange rate, even though in the short-term devaluation means inflation and falling living standards.

ECONOMIST: Argentina's economy

It also managed to narrow the gap between the official exchange rate and the price of the dollar in the free market.

ECONOMIST: Venezuela's economy

More than a year ago Hanke explained that Brazil's Plano Real, which pegged its currency to the dollar, dangerously quashed free market forces by giving the central bank the power to set both the exchange rate and monetary policies.

FORBES: Follow Through

After watching the currency free-fall for several days, the Central Bank of Iceland stepped in Tuesday to fix the exchange rate of the krona at 175 a level equal to 131 krona against the euro.

NPR: Iceland Shivers From Financial Crisis

In a bid to offset the impact of sterling's rise and remain competitive with duty-free shops abroad, Heathrow's shops are offering travellers who pay in various foreign currencies a more favourable exchange rate than the current market rate.

ECONOMIST: Midsummer madness