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Topic: Linked the peso to the US dollar


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In the News (Thu 4 Dec 08)

  
  United States dollar - Wikipedia, the free encyclopedia
Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity.
U.S. dollar banknotes are printed by the Bureau of Engraving and Printing, and, since 1914, have been issued by the Federal Reserve.
The U.S. dollar broke almost all expectations in 2005 (some analysts previewed the dollar dropping as far as $1.60 per Euro), finished the year with a significant double-digit recovery against the EU Euro and Japanese Yen.
en.wikipedia.org /wiki/United_States_dollar   (2700 words)

  
 Hong Kong dollar - Wikipedia, the free encyclopedia
A further aim of allowing the Hong Kong Dollar to trade in a range is to avoid the HK dollar being used as a proxy for speculative bets on a Yuan (Renminbi) revaluation.
The basic unit of the Hong Kong dollar is dollar (圓 for a formal form; 蚊 in spoken Cantonese, perhaps a transliteration of the first syllable of "money", but some suggest that the character is the corruption of 緡; also 元 for a less formal form).
With the release of one-dollar note pursuant to the One-Dollar Currency Note Ordinance of 1935, the Government acknowledged the Hong Kong Dollar as the local monetary unit.
en.wikipedia.org /wiki/Hong_Kong_dollar   (1816 words)

  
 United States dollar   (Site not responding. Last check: 2007-10-25)
Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto legal capacity.
The sizes of the dime, quarter, and half dollar are holdovers from before 1964, when they were made from 90% silver; their sizes thus depended upon the amount of silver which cost their respective values, and helps explain why the dime is the smallest of the coins.
The dollar was unanimously chosen as the monetary unit for the United States on July 6, 1785.
united-states-dollar.ask.dyndns.dk   (4479 words)

  
 About IPD || Advisory Board   (Site not responding. Last check: 2007-10-25)
Dollarization is the process by which a country abandons its own currency and adopts the currency of a more stable country as its legal tender.
Though the concept was coined in reference to the US dollar, the conversion to any foreign, stable currency—the European euro, the Japanese yen, the German mark, for example—is usually known as dollarization.
The US dollar is the most trusted currency in the world and any country that adopts it also adopts the monetary policy of the Federal Reserve Board.
www2.gsb.columbia.edu /ipd/j_dollarization_bk.html   (2395 words)

  
 Wikinfo | United States dollar   (Site not responding. Last check: 2007-10-25)
From 1792 to 1873 the U.S. dollar was freely backed by both gold and silver at a ratio of 15:1 under a system known as bimetallism.
The dollar is also used as the standard unit of currency in international markets for commodities such as gold and oil.
The name for the United States dollar comes from the Spanish dollar (which itself derived from the thaler) which was the silver coin widely circulated in the United States during the time of the American Revolutionary War.
www.wikinfo.org /wiki.php?title=United_States_dollar   (2018 words)

  
 United States dollar   (Site not responding. Last check: 2007-10-25)
The dollar is also used as the unit of currency in international markets for such as gold and oil.
The name for the United States dollar from the Spanish dollar (which itself derived from the thaler) which was the silver coin widely in the United States during the time the American Revolutionary War.
Perhaps the most widely explanation according to the U.S. Bureau of Engraving and Printing is that it is the result the evolution of the Mexican or Spanish for pesos or piastres or pieces of eight.
www.freeglossary.com /US_dollar   (3537 words)

  
 Chapter 13
In 1990's the astral was replaced by the peso and the peso was pegged to the US dollar at a rate of 1 peso = $1.
When Argentina linked the peso the US dollar, the country adopted a currency whose exchange rate bore little relation to its own economic conditions.
The government was unable to maintain the "pegged" value of the peso to the $1 and eventually was forced to let the value of the peso float.
www-biz.aum.edu /jclark/3520/Chapter13.htm   (2469 words)

  
 baby dollar dvd million   (Site not responding. Last check: 2007-10-25)
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dollar.super-invests.com   (453 words)

  
 Peso slides back to P56:$1 on high dollar demand   (Site not responding. Last check: 2007-10-25)
THE PESO slipped back to 56 to the dollar level Thursday on strong demand for greenbacks by corporate buyers hedging their requirements ahead of the May 10 presidential election, and on short-covering by banks amid weakening regional currencies, dealers said.
The peso traded between 55.760 and 56.000 to the dollar and closed at its intra-day low, which is also its weakest finish in more than three weeks.
Dealers said the peso's slide was in line with the weakening of regional currencies, including the yen, amid concerns that the Chinese government may adopt a tighter monetary policy to cool its overheating economy.
money.inq7.net /topstories/view_topstories.php?yyyy=2004&mon=04&dd=30&file=1   (535 words)

  
 Library of Congress / Federal Research Division / Country Studies / Area Handbook Series/ Uruguay / Glossary
The term peso is often used as a short form to refer to the Uruguayan new peso in the post-1975 era.
The Uruguayan new peso was introduced in 1975 to replace the old peso at the rate of 1,000 old pesos for each new peso.
So extreme has the devaluation of the peso been that in 1991 Uruguayan authorities began to consider introducing another new peso, equal in value to 1,000 units of the existing new peso.
lcweb2.loc.gov /frd/cs/uruguay/uy_glos.html   (1121 words)

  
 One-NA-Dollar.htm
The adoption of the US Currency would finally force a re-alignment of taxation in Canada to remain competitive and not rely on the time-honoured tradition of devaluing the dollar as we have become less competitive year after year in the face of higher and higher taxation and a growing debtload.
The Cdn Dollar may have surprising days of strength but the direction is down and will remain down until our tax structure is changed...no doubt after much more pain.
Chris Ragan took issue with the banker's view, arguing that the low value of the Canadian dollar was mostly a result of a decline in world commodity prices and that, since Canada is a commodity exporter, such a price decline represents a negative demand shock for Canada.
www.geocities.com /davidnicholson_99/One-NA-dollar.htm   (2477 words)

  
 [No title]
A currency board under the Argentinean Model This option is one which has been suggested in a number of articles and the examples quoted are Argentina which is linked to the US Dollar and Lithuania and Estonia which are linked to the Deutsche Mark.
Because the Peso would be fully linked to the Dollar there would be no need for a Central Bank, except to issue local currency in proportion to the reserves that it held.
Another possibility under this model would be the establishment of the type of ERM under which a central parity is established against the US Dollar or the US and Canadian Dollars and the currency is allowed to vary between limits around this central parity rate.
www.tcd.ie /Economics/staff/dmcleese/Web/HW/CH21/OPTIONS.DOC   (1238 words)

  
 Sun.Star Network Online - Peso drops to new low of 55.92 v. US dollar
The peso plunged to a record low of 55.92 to the dollar in early trade, but recovered to levels above 55.80 as the market realized the new ratings were better than a feared two-notch downgrade, analysts said.
Reacting to the peso's fall, Philexport-Cebu president Allan Suarez said no one was taking care of the economy while the country's leaders were engaged in politicking ahead of the May elections.
On the fiscal problems of government, Co said that on the revenue side, the Customs and internal revenue bureaus were meeting their targets, but there was still the expenditure side to consider.
www.sunstar.com.ph /static/net/2004/01/28/peso.drops.to.new.low.of.55.92.v..us.dollar.html   (512 words)

  
 ecocol   (Site not responding. Last check: 2007-10-25)
The most recent crisis from 2000 onwards, was probably one of the worst even in this chequered history, coming as it did after nearly a decade of sluggish growth brought on by the deflationary policy induced by the currency board arrangement (which linked the Argentine peso to the US dollar).
The obsession with inflation control (after the experience of stagflation in the 1980s) led to the arrangement whereby the Argentine peso was linked to the dollar and monetary policy was made very tight to ensure this parity.
Continued stagnant growth over the 1990s led to the build-up of public debt despite officially deflationary and conservative macroeconomic policies, and by the end of the 1990s it was evident that the peso-dollar link could not be sustained.
www.ganashakti.com /old/2005/050418/column.htm   (1028 words)

  
 Walter Lippmann: Notes on Fidel Castro's March 17, 2005 speech
The US State Department and the media which cooperate with it did their best in this regard by making a statement (the US government made a statement, the US media wrote long articles about the Cuban opposition, though they had to admit that the opposition is sharply divided among themselves.
Convertible pesos, which are pegged on the island as equivalent to the United States dollar, have long been referred to in Cuban slang as "chavitos".
In light of Cuba's recent rejection of the US dollar as legal tender in Cuba, Fidel Castro then opined on the disasters that have become nations whose economies have been artificially linked to the dollar, such as Argentina, or have taken the dollar as their main currency, such as Ecuador.
www.walterlippmann.com /wl-03-18-2005.html   (5401 words)

  
 americas.org - Peso’s Value Linked To Euro   (Site not responding. Last check: 2007-10-25)
Argentine economy minister Domingo Cavallo shook financial markets with a surprise June 15 announcement that the country would modify the strict pegging of the peso to the U.S. dollar that Cavallo himself introduced 10 years earlier when he was economy minister in the 1989–1999 government of former President Carlos Saúl Menem.
The new policy will maintain the convertibility of the peso to the dollar in domestic transactions, but for foreign trade the peso will be pegged to an average of the dollar and the European Union (EU) currency, the euro.
The Chilean peso, which was already declining, fell some more after Cavallo’s announcement; it is now down more than 8 percent since the beginning of the year.
www.americas.org /item_6988   (454 words)

  
 Dollar Hedge Sandwich International Investing Spotting Trends
This message looks at a MultiCurrency Sandwich portfolio that hedges the value of US dollar and suits those who believe that the greenback may maintain its value versus other currencies, but want protection in case it does not.
Less belief in the greenback (than in the dollar long portfolio) means that weightings in the British pound, Hungarian florin, and euro are increased.
Weightings in the dollar linked Mexican peso and US dollar denominated bonds are reduced.
www.spottingtrends.com /currency/currency_trends_3.htm   (292 words)

  
 CID at Harvard University :: ARGENTINA'S PESO, AND CONFIDENCE, HIT NO QUICK ARGENTINE FIX IS SEEN, Boston Globe, ...
If people are paid in pesos that are suddenly worth 50 percent less, but still have to repay loans in dollars, their debt payments have essentially doubled overnight.
Argentina linked its currency to the dollar in 1991, hoping to end decades of hyperinflation and the resulting boom-and-bust swings in the economy.
Rodriguez Saa, a member of the Peronist party, is expected to declare a moratorium on repaying the country's debts and vowed to try to keep a key economic law pegging the Argentine peso to the US dollar - something a majority of Argentines support.
www.cid.harvard.edu /cidinthenews/articles/Globe_122301.html   (1051 words)

  
 Free Life 31, June 1999
The alternatives to central banking which Dr Schuler discusses include foreign currency (formerly used in several independent nations as well as colonies), and a number of systems in which the domestic currency is linked to a foreign anchor currency at a fixed exchange rate.
Estonia followed in 1992 by replacing the Soviet rouble with the kroon, which was linked to the Deutschemark.
Both countries succeeded in stopping hyperinflation, and their example inspired Lithuania to link its currency to the US dollar in 1994.
www.seangabb.co.uk /freelife/flhtm/fl31moor.htm   (1003 words)

  
 US Dollar Exchange Rate Canadian Exchange Rate Updates - Foreign Exchange Forex Update
Follow these links to see the latest US exchange rate and Canadian exchange rate.
The Swiss Franc continued its safe haven status rally and the Euro made a push to new highs as pundits were surprised by the rise in the U.S. unemployment rate.
The Mexican Peso remains weak because of its close link to the US.
cambridgefx.com /Canada-US/currency/foreign-exchange-update_130103.html   (339 words)

  
 DCR Assigns 'BBB+' Rating to Colombia's Dollar-Linked TES Program
The TES notes are payable in domestic currency (peso) and, therefore, their credit profile is akin to that of the Republic's local currency long-term debt rating, currently at 'A-' (Single-A-Minus).
Interest and principal payments on the notes are, however, linked to the peso-U.S. dollar exchange rate, which in DCR's opinion, limits the rating on this particular instrument to the assigned 'BBB+' (Triple-B-Plus).
The issuance of the TES is part of a government strategy to cement foreign confidence in the economy, stabilize the peso and attain a target inflation rate of 15 percent by yearend 1999.
www.prnewswire.com /cgi-bin/stories.pl?ACCT=105&STORY=/www/story/07-23-1999/0000988312   (478 words)

  
 Argentina , IMF aid
The devaluation in Brazil, Argentina's principal trading partner, and the fact that the peso is linked to the US dollar, caused a loss of competitiveness.
In 1991, it implemented radical monetary reforms which pegged the peso to the US dollar and limited the growth in the monetary base by law to the growth in reserves.
Growth in 2000 was a disappointing 0.8%, as both domestic and foreign investors remained skeptical of the government's ability to pay debts and maintain its fixed exchange rate with the US dollar.
www.eastwest.be /IMF_argentina.html   (529 words)

  
 MercoPress - Falklands-Malvinas & South Atlantic News
US dollar at its highest in Chilean pesos in a year
The exchange rate of the U.S. dollar in Chile closed on Monday at $548 pesos to the greenback, its highest value since August 29, 2005 and a three peso gain over last Friday’s exchange rate.
The dollar’s improved value could be linked to rumors that Hydro Québec, a North American energy producer, may purchase foreign currency to repatriate their profits from their recent sale of Chile Transelec shares.
feeds.hondurasnews.net /?rid=3dc3ba61eafdf8a5&cat=92f7eb9092aef884&f=1   (720 words)

  
 LiveDeliberately.org
So, linking the peso to the dollar was like tieing a rope from a bicycle to the fender of an old slow car going about your speed.
Today one peso is worth about 1/3rd of the dollar and their economy is slowly coming back.
There is much to love about the US in Christmas season, but the advertising for the consumer culture rachets up to a fever pitch starting the moment they take down Halloween decorations all the way through New Years.
www.livedeliberately.org /LDBlogArchive/2006_01_01_livedeliberately_archive.html   (5210 words)

  
 SourceMex - Economic News & Analysis on Mexico; October 7, 1998
CEESP argues that a link to the US dollar would reduce Mexico's inflation and interest rates to US levels and enhance Mexico's attractiveness to foreign investors.
Some private economists have also opposed any plan to eliminate the peso or peg the Mexican currency to the US dollar on a one-to-one basis similar to the prevailing system in Argentina.
The US newspaper said the Secretaria de Hacienda y Credito Publico (SHCP) and the Banco de Mexico had scheduled a series of meetings with private economists and other financial experts to float the idea of a US-Mexico currency link.
ssdc.ucsd.edu /news/smex/h98/smex.19981007.html   (3102 words)

  
 US-RP military exercises start amid tight security - Nov. 03, 2003
The US troops would be restricted to camp because of the potential threat from Muslim militants linked to the al-Qaeda network and local communist insurgents, said Colonel Steven Busby, co-director of the two-week maneuvers.
The US Marines were here for training and there would "no liberty" for them during their stay in the country, Busby told reporters after the opening ceremonies at this ex-US airbase north of Manila.
Colonel Flaviano Valduheza of the Philippine air force, the co-director of the exercise, said that US and Filipino troops would be sharing tactics, techniques, and procedures and would jointly operate US and Philippine military aircraft and equipment.
www.inq7.net /brk/2003/nov/03/brkpol_10-1.htm   (358 words)

  
 The Decline and Fall of the US Dollar
The countries who still had not converted their dollars to gold ended up with a treasury full of worthless paper, now called "Eurodollars." These dollars are still floating around the world and are currently contributing to the lower value of the dollar since they are in the millions.
This action signaled to the world that the dollar was "low enough." Between 1985 and September 1986, the dollar plunged 40% against the yen and deutsche mark.
Once the dollar was severed from gold and all currencies allowed to float, there developed a situation whereby international currency traders started "playing" the currencies against each other based on good or bad economic or political news.
www.ninehundred.net /~jveon/95NEWS.html   (4977 words)

  
 Fathom :: The Source for Online Learning
Because the business cycle is different, GDP is different; in the US it's going very well, in Europe you may be going into a recession, and Greenspan is doing something different than the chairman of the Bundesbank was doing in the past.
Argentina has a so-called currency board, so there is actually a one-to-one exchange rate between the Argentinean peso and the US dollar.
No, you have to be careful with that, because obviously the currency board will ensure that there's a one-to-one relation between the Argentinean peso and the dollar as long as the currency board holds up.
www.fathom.com /feature/121920   (2071 words)

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