International Corporate Finance Xin Chen Associate Professor Antai College of Economics and Management
1 International Corporate Finance Xin Chen Associate Professor Antai College of Economics and Management
Chapter 3 The international monetary system 2
2 Chapter 3 The international monetary system
China.Takes Aim at Dollar BEIJING -China called for the creation of a new currency to eventually replace the dollar as the world's standard,proposing a sweeping overhaul of global finance that reflects developing nations' growing unhappiness with the U.S.role in the world economy. The unusual proposal,made by central bank governor Zhou Xiaochuan in an essay released Monday in Beijing,is part of China's increasingly assertive approach to shaping the global response to the financial crisis. http://online.wsj.com/article/SB123780272456212885.html
China Takes Aim at Dollar BEIJING -- China called for the creation of a new currency to eventually replace the dollar as the world's standard, proposing a sweeping overhaul of global finance that reflects developing nations' growing unhappiness with the U.S. role in the world economy. The unusual proposal, made by central bank governor Zhou Xiaochuan in an essay released Monday in Beijing, is part of China's increasingly assertive approach to shaping the global response to the financial crisis. http://online.wsj.com/article/SB123780272456212885.html
Special Drawing Rights (SDRs) The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries'official reserves.Its value is based on a basket of four key international currencies,and SDRs can be exchanged for freely usable currencies.With a general SDR allocation taking effect on August 28 and a special allocation on September 9,2009,the amount of SDRs will increase from SDR 21.4 billion to SDR 204.1 billion (currently equivalent to about $317 billion)
Special Drawing Rights (SDRs) The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies. With a general SDR allocation taking effect on August 28 and a special allocation on September 9, 2009, the amount of SDRs will increase from SDR 21.4 billion to SDR 204.1 billion (currently equivalent to about $317 billion)
Currency terminology A foreign currency exchange rate,or exchange rate,is the price of one country's currency in units of another currency For instance,an exchange rate of 5 Danish kroner to the US dollar implies that for 5 Danish kroner one can get 1 US dollar 5
5 Currency terminology A foreign currency exchange rate, or exchange rate, is the price of one country’s currency in units of another currency For instance, an exchange rate of 5 Danish kroner to the US dollar implies that for 5 Danish kroner one can get 1 US dollar