Like any fixed exchange-rate system, a currency board offers the prospect of a stable exchange rate, which can promote both trade and investment.
Stable exchange rates will be a hard habit to ditch, because having currencies linked to the dollar played a big part in the region's phenomenal decade-long boom.
He added: "I think that we must, at the international level, argue for a co-ordinated approach that will allow us to have a stable exchange rate... exchange rates should not be subject to moods or speculation, ".
Moreover, the Central Bank is likely to welcome the strengthening of the BRL, as appreciation can help ease some of the building inflationary pressure that higher food prices and a stable exchange rate were allowing to flow through to the economy.
Only the flood of petrodollars coming into the government's coffers is keeping the exchange rate stable.
He should put the ECB's money where his mouth is, selling euros and buying dollars to keep the exchange rate stable.
The central bank steered a careful course between providing liquidity for banks whose deposits were fleeing, and keeping the exchange rate stable.
There was no risk as long as the baht-dollar exchange remained stable.
If, as a result of capital inflows, there is an excess supply of foreign currency, the central bank must buy it and sell yuan to keep the exchange rate stable.
Just as a floating foot and minute would lead to a lot of building and cooking errors, floating money would and does foster a great deal of malinvestment and trade disharmony for turning voluntary, economy-enhancing exchange with stable money as the measuring stick into something where trading partners are increasingly at odds.
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Strong money that is stable in value is much demanded as a ticket used to exchange real wealth, and if the euro had a stable definition, it would quickly trump the dollar.
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Their exchange rate should be stable in relation to the euro.
The stable monetary policy disciplined by fixed exchange rates also minimized the boom and bust business cycle, with its periodic sharp recessions hampering long term growth.
Since all major currencies could be exchanged for gold or other currencies pegged to a currency that follows the gold standard, exchange rates would remain stable without anyone doing anything.
So, if the exchange rate has been remarkably stable, in recent months, you shouldn't necessarily read that as a signal that the euro will get through this intact.
Mr Arditti said the forum was an ideal opportunity to exchange ideas, and promote a stable environment for businesses to invest in the island.
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Nor did delegates even think of trying to create a new gold-based, Bretton Woods-like monetary system that would keep currency exchange rates of trading nations strong and stable.
" Speaking via satellite from Washington to the International Monetary Conference in Barcelona, Spain, Bernanke also noted that even though the foreign exchange value of the dollar has been relatively stable in recent months, "the possibility that commodity prices will continue to rise is an important risk to the inflation forecast.
Under such a scenario, money would only be effective insofar as it would be stable in value so that the producer of bread could confidently exchange biscuits for the future bottles of wine produced by the other inhabitant.
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By removing the need to accumulate vast foreign-exchange reserves, greater currency flexibility would also create a more stable global monetary system.
Chris Towner, of foreign currency exchange brokers HiFX, notes that the UK is on a stable outlook from Moody's, meaning there are unlikely to be any further shocks for the currency in the near future.
Why then does he expect a system of fixed exchange rates absent at least one link to gold somewhere in the system would be anymore stable or durable?
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The Chinese government says it will move towards a more flexible exchange rate in the medium term, but for the moment it wants to keep the yuan stable in order to support broader economic stability.
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