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Currency Board |
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Currency Board Entity charged with maintaining the value of a local currency with respect to some other specified currency. Currency Board An agency of a government that determines the value of the domestic currency. Specifically, the currency board decides whether to peg the currency to another or to allow it to float. Theoretically, it may also peg the currency to the value of some commodity, such as gold, but that is exceedingly rare. In most developed countries, central banks perform the duties of currency boards. As separate entities, they are found mainly in developing countries. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Some have proposed a rigid peg to the dollar, as via a currency board or outright dollarization (see Steve H. The working of the Malayan Currency Board and the implications of the currency board system As part of the preparations for independence, the Iraq Currency Board opened in April 1932. |
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