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.
References in periodicals archive ?
In 1980, the UAE Central Bank came into existence, replacing the Currency Board.
The Currency Board Account shows that the Monetary Base at the end of September 2017 was HK$1,680.
The date also marks the formation of United Arab Emirates Currency Board which issued the new notes bearing various local environmental landmarks and geographical boundaries of the UAE.
It is time to set up a fiscal council rather than a currency board, says economist Marjan Petreski, according to whom establishing a council would help overcome the political crisis.
Bahrain's national currency identity was established when the Bahraini Currency Board was founded in accordance with the provisions of Decree 6/1964 (Finance) with the power to issue and regulate the Bahraini currency and grant banking licenses.
A current account surplus is accompanied by a high level of foreign reserves, which provide stability to its existing currency board regime," Fitch said.
Parliament also voted to appoint Kalin Hristov for a second six-year term as deputy in charge of the currency board arrangement, and the bank's chief legal adviser, Nina Stoyanova, as head of banking policy and accountancy.
Also, there are 27 countries that have a currency linked to the euro, often via a currency board.
The automaker is taking this step because delays in getting dollars from the state currency board, Cadivi, have created a shortage of materials.
Coinage gold is part of the international reserves of Bulgaria, which ensure the currency board and the fixed exchange rate of the Lev to the euro.
In superb condition the note features the White Tower at Ramleh and the signatures of Sir Percy Ezechiel, Sir John Caulcutt and Roland Vanables Members of the Palestine Currency Board.
In my experience, as someone who has been involved in stopping 10 of the 57 known hyperinflations, there are two sure-fire ways: instituting a currency board or adopting a foreign currency (dollarization).