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Topic: Currency band

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	Foreign exchange market - Wikipedia, the free encyclopedia
		However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices.
		Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed.
		It is possible for investors to speculate on currency fluctuations and realize profits by parking funds in one currency, and after it appreciates in value, switching to another.
	en.wikipedia.org /wiki/Currency_market (1144 words)

	Exchange rate regime - Wikipedia, the free encyclopedia
		Crawling bands: the rate is allowed to fluctuate in a band around a central value, which is adjusted periodically.
		Pegged with horizontal bands: The currency is allowed to fluctuate in a fixed band (bigger than 1%) around a central rate.
		In case of a separate currency, also known as a currency board arrangement, the domestic currency is backed one to one by foreign reserves.
	en.wikipedia.org /wiki/Exchange_rate_regime (237 words)

	Currency band - Wikipedia, the free encyclopedia
		The currency band is a system of exchange rates by which a floating currency is backed by hard money.
		A country selects a range, or "band", of values at which to set their currency, and returns to a fixed exchange rate if the value of their currency shifts outside of this band.
		For example, Exchange rate of the renminbi of the mainland of the People's Republic of China is based upon a currency band.
	en.wikipedia.org /wiki/Currency_band (142 words)

	POS Ribbon & Inking System - cash register supplies and POS supplies (Site not responding. Last check: 2007-10-21)
		Currency Band, Saw-Tooth, ABA bleached kraft $2000 Violet Pre-Glued
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	www.posribbonandinkingsystems.com /generic30.html (110 words)

	MONEY MARKET RESPONDS WELL TO EXPANDED (Site not responding. Last check: 2007-10-21)
		Hungary’s currency was stabilised in March of 1995, when a policy of crawling peg devaluation was introduced as part of a package of austerity measures dubbed the “Bokros Package” after Lajos Bokros, who introduced it as minister of finance.
		He did point out that when the band was only ±2.25pc, the forint was stuck at the top edge, meaning that it would have gone up in value had that been allowed.
		In practice, increasing the band means that the forint, which was equivalent to about EUR 270 in March, may now move freely within a band equating it to anywhere from EUR 230 to EUR 310.
	home.btconnect.com /hungarytrade/itd2/moneymar.htm (1012 words)

	Policy Brief 99-3: Crawling Bands or Monitoring Bands: How to Manage Exchange Rates in a World of Capital Mobility
		A "crawling band" involves a central bank undertaking a public obligation to maintain its country’s exchange rate within a wide, publicly-announced, band around a parity that is periodically adjusted in relatively small steps in a way intended to keep the band in line with the fundamentals.
		A crawling band is defined as existing when a) the width of the band is at least + or - 5% and b) the band is adjusted in small steps with a view to keeping it in line with the fundamentals (a requirement that excludes inter alia the ERM and Mexico).
		The key difference between a crawling band and a monitoring band is that the latter does not involve an obligation to defend the edge of the band.
	www.iie.com /publications/pb/pb99-3.htm (7208 words)

	BOI - Foreign currency exchange rates in Israel
		The other was a change in the parameters of the crawling exchange-rate band, with the slope of the lower limit of the band being reduced from 4 percent to 2 percent.
		The representative rate of any currency is an indicator of the exchange rate prevailing in the market(4); it is based on an average of buying and selling prices published by banks, and does not necessarily reflect rates at which transactions were carried out.
		The number of units of each currency in the basket is determined according to its share in trade during the previous calendar year and to international cross rates at the time the basket's composition is being fixed.
	www.bankisrael.gov.il /deptdata/mth/98eng.htm (3324 words)

	Articles - Exchange rate (Site not responding. Last check: 2007-10-21)
		Quotes using a country's home currency as the unit currency are known as indirect quotation or quality terms quotation and are used in British newspapers and are also common in Australia, New Zealand and Canada.
		If the value of the currency is "pegged" its value is maintained by the government in question at a fixed rate relative to the other currency.
		A currency will tend to lose value, relative to other currencies, if the country's level of inflation is relatively higher, if the country's level of output is expected to decline, or if a country is troubled by political uncertainty.
	www.lastring.com /articles/Exchange_rates (960 words)

	Op-ed: Two-Stage Currency Reform For China
		It would also increase the odds that Japan and emerging economies elsewhere in Asia would be willing to allow their exchange rates to appreciate, reducing the burden on the euro contributing to the needed downward adjustment of the dollar and limiting the deterioration in China's competitiveness.
		The key to reconciling China's desire for exchange-rate stability with the need for the yuan to play its proper role in global balance of payments adjustment is to recognize that a fixed rate for the yuan need not be at the present parity.
		The currency regime that has served China well in the past is not the currency regime that will serve China best today or in the future.
	www.iie.com /publications/papers/goldstein0903.htm (1245 words)

	Global Economic Forum (Site not responding. Last check: 2007-10-21)
		The new band is 9% weaker than the old one; the slope of the new band continues to be the same as the old one, i.e., 13%.
		The 9% adjustment in the currency's band is approximately the same that was required to eliminate the peso overvaluation (estimated by the central bank using PPP).
		Where an investment is denominated in a currency other than pounds sterling, changes in rates of exchange may have an adverse effect on the value, or price of, or income derived from the investments.
	www.morganstanley.com /GEFdata/digests/19980903-thu.html (4772 words)

	FOREX.com \| Online Currency Trading \| Forex Mini Accounts \| Forex Quotes and Resources
		Under pressure from Asian currencies too, the euro slipped to a two-week low against the yen, at 138.31 yen, because of a news report purporting China may be getting closer to increasing the flexibility of its pegged currency regime.
		The band within which the renminbi exchange rate floats may be expanded to 0.6 percent or 1 percent from the current 0.3 percent," the newspaper said.
		For now, the dollar tends to be boosted by the prospect of steeper rate hikes because this increases the attraction of short-dated dollar deposits to foreign investors.
	www.forex.com /05-03-21.html (596 words)

	The Budapest Sun Online - Story page (Site not responding. Last check: 2007-10-21)
		There was a narrow band within which it could fluctuate and the National Bank of Hungary (MNB) was ready to intervene whenever it threatened to get outside this band.
		In spring 2001, in preparation of the total convertibility of the forint (total liberalization of financial markets), the band was widened.
		The row between the national bank and the ministry of finance seems to be a natural issue: the government wants to spend and the central bank wants to maintain the value of the currency and curb inflation.
	www.budapestsun.com /full_story.asp?ArticleId={BC9B13DDA53341FE883A3AE641EC6764}&From=News (1393 words)

	China widens yuan trading band on non-dollar currencies (Site not responding. Last check: 2007-10-21)
		China's central bank has widened the yuan's trading band in its new currency basket on the eve of the G7 meeting in a move seen as deflecting US criticism that it is footdragging on currency reform.
		The adjustment allows for the yuan to fluctuate against non-dollar currencies such as the euro and the yen by three percent either side of the midpoint but maintains the yuan-dollar band unchanged at 0.3 percent.
		The United States described China's move to widen its currency band for non-dollar currencies as a "technical step" that needed to be monitored.
	www.turkishpress.com /news.asp?id=71802 (830 words)

	[No title]
		Most currencies were allowed to fluctuate above or below their central rate by 2.25 percent although the original band for the Italian lira and the bands for the Spanish peseta and the Portuguese escudo allow for fluctuations of 6 percent in either direction from the central parity.
		A common currency also forces countries to give up their independence with regards to monetary policy (at least those countries which are not at the "center" of the system).
		The level of foreign currency reserves to which a central bank has access affects its ability to defend its currency; the larger the stock of reserves, the better positioned a central bank to defend its currency.
	www2.hawaii.edu /~gangnes/imch20.doc (2450 words)

	Print Article: Singapore targets stronger dollar to counter inflation (Site not responding. Last check: 2007-10-21)
		Singapore's central bank said it was shifting policy to seek a "modest and gradual appreciation" of the currency as a growing economy stokes inflation.
		It is a process emulated by several Asian countries which have been happy to see their currencies depreciate in line with the US dollar, thus ensuring their exports stay buoyant.
		The monetary authority is keeping the width of the currency band unchanged.
	www.smh.com.au /cgi-bin/common/popupPrintArticle.pl?path=/articles/2004/04/12/1081621896319.html (458 words)

	United Press International - Business & Economics - Brazil currency drops on trade band talk
		On top of that, news surfaced over the weekend that Argentine officials would push their Brazilian counterparts to create a common trading band for the peso and the real, a first step toward the creation of a common currency for the Mercosur trading bloc.
		"Now is the time to seriously propose a (trading) band in which the real and the peso would float," said Martin Redrado, Argentina's vice minister of foreign relations, in an interview published this weekend in the La Nacion newspaper.
		The currency plummeted on fears that Lula's government would swing sharply left, and lead to macroeconomic disaster.
	www.upi.com /view.cfm?StoryID=20030505-054103-6337r (960 words)

	Ukraine holds steady amid financial crisis (09/06/98) (Site not responding. Last check: 2007-10-21)
		President Kuchma also said the change to the hryvnia's trading band, or currency corridor, will be made as soon as the International Monetary Fund decides on a three-year $2.2 billion Extended Fund Facility loan.
		Yuschenko said the currency reserves of the central bank fell to a meager $800 million from $1.1 billion on August 21.
		The trade band was set at 1.80-2.25 hryvnia per dollar until the end of this year, to protect investors against currency risk.
	www.ukrweekly.com /Archive/1998/369801.shtml (640 words)

	Weekend: Life is good on the beach
		Ruppert Blaize and his band Hard Currency provide the calypso, reggae and Top 40 at the Adam's Mark tiki bar.
		The band now includes John Hall on bass, Eric Peters on keyboards and Julian Riffin on guitar.
		"Bands are like chameleons, and they change every two or three years, so it's expected," Blaize said.
	www.sptimes.com /News/020101/news_pf/Weekend/Life_is_good_on_the_b.shtml (571 words)

	The Real Reasons for the Upcoming War With Iraq: A Macroeconomic and Geo-strategic Analysis of the Unspoken Truth (by ...
		The dollar, now a fiat currency, is at a 16-year trade-weighted high despite record US current-account deficits and the status of the US as the leading debtor nation.
		To prevent speculative and manipulative attacks on their currencies, the world's central banks must acquire and hold dollar reserves in corresponding amounts to their currencies in circulation.
		So long as this remained the case, the euro was unlikely to become the major reserve currency: there is not a lot of point in stockpiling euros if every time you need to buy oil you have to change them into dollars.
	www.mediamonitors.net /williamclark1.html (11118 words)

	[No title]
		This says that, as a result of high mobility of capital in modern times, only free floating and currency union are viable choices.
		Transparency; facilitiation of cooperation; evidence to the effect that explicit bands have some effect in anchoring exchange rate expectations (Svensson) and in reducing volatility (Rose).
		Governments may wish to use fiscal and monetary policies to appreciate their currencies at given output levels, raising domestic absorption and dampening (temporarily) inflationary pressures - competitive appreciation, in other words.
	www.sussex.ac.uk /Units/economics/ma_int2/topic4.doc (1391 words)

	Business Report - China to expand currency trading band (Site not responding. Last check: 2007-10-21)
		The yuan is now linked to a trade-weighted basket of major currencies after a 2.1 percent revaluation of the yuan to 8.11 per dollar in July.
		The currency can fluctuate against the dollar by 0.3 percent above or below its previous close, and can move 1.5 percent against other currencies in the basket, including the euro and the yen.
		Concerning the composition of the yuan's currency basket, Ma only added that the formula was "complicated," taking into account the nation's external trade and debt position, as well as other macro-economic factors such as the M2 money supply figures.
	www.busrep.co.za /index.php?fArticleId=2870593 (868 words)

	A to F
		We show that this mechanism can generate self-fulfilling currency crises, the outcome of which depends on the level of sacrifice that the government is ready to endure and the evolution of domestic economic conditions.
		For the long-term member currencies (French franc, peseta, Danish krone and escudo), the existing 15% bands are found to be unnecessarily wide: narrower 3.5% bands would capture at least 95% of expected exchange rate realisations over a three-month horizon.
		For Denmark, France and Ireland, credibility seems to be increasing up to the currency crisis period and for Belgium and Holland credibility increased early in the period and remained high during the rest of the period.
	www.tri.org.au /af.html (9141 words)

	GN Online: China 'showing willingness to broaden currency band'
		China has shown a willingness to broaden the currency band for its yuan during the meetings of the IMF and World Bank here, according to Canadian Finance Minister John Manley.
		The state of the Chinese currency has been a vexing issue for the global monetary system, with countries such as the US calling on China to adopt a free float at the earliest.
		On whether any measure of progress was made on getting trade issues back on the rails, especially after the disastrous Cancun summit, at the Dubai 2003 meetings, Manley said: "Finance ministers provide the bigger vision and have to be advocates for freer trade, while trade issues get to be bogged down in details.
	www.gulf-news.com /Articles/news.asp?ArticleID=98347 (576 words)

	Colombia bows to pressure to float peso
		the currency had moved within set limits against the dollar since 1994.
		bands that surrounded its peso early this month.
		currency is considered massively overvalued, is now alone in maintaining a
	www.latinamericanstudies.org /colombia/peso.htm (523 words)

	BOI - Foreign-Currency Exchange Rates in Israel 1999
		The representative rate of any currency is an indicator of the exchange rate prevailing in the market(6); it is based on an average of buying and selling prices published by banks, and does not necessarily reflect rates at which transactions were carried out.
		The Bank also continues to publish exchange rates against the currencies of the EMU member countries(9).
		Since the inception of the basket, the parameters of the exchange-rate regime (today - the exchange rate band) have been set in terms of the basket rather than in terms of a specific currency.
	www.bankisrael.gov.il /deptdata/mth/skira99/99eng.htm (1561 words)

	Currency Convertions? - TShirtsville's cool Currency Convertions? Hoodies, shirts and tees.
		Our customers often ask us to convert our prices into their local currency. In response to this, we offer a currency conversion tool that helps you estimate what our prices are in your local currency.
		All of your credit/debit card transactions will be charged in United Kingdom pounds sterling. The final currency conversions that appear on your bank/credit card statements are the sole responsibility of your bank or credit card issuer.
		We find that most, if not all of the worlds Banks will convert the amount you spend into your local currency before debiting your account, but we cannot speak for all Banks of course :-)
	www.tshirtsville.com /acatalog/currency_convertions.html (209 words)

	IMF approves $2.226 billion loan, releases first tranche to Ukraine (09/13/98)
		NBU Chairman Viktor Yuschenko had predicted two weeks ago that if Russia's financial crisis continued and the hryvnia continued to take a beating, the band within which the hryvnia could fluctuate would have to be loosened.
		On September 4 the NBU announced that a new currency band had been established, allowing the hryvnia to float between 2.5 hrv and 3.5 hrv to the dollar.
		Ukraine has spent millions in foreign currency trying to keep the hryvnia stable as first the Asian crisis and now the Russian emergency have made it tumble in value.
	www.ukrweekly.com /Archive/1998/379801.shtml (907 words)

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