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News and Articles on Floating Exchange Rate System
Public Information Notice: IMF Executive Board Concludes 2004 Article IV Consultation with Kenya Jun 16, 2009
Directors agreed that the current managed floating exchange rate system has served Kenya well in responding to external shocks, and should be maintained. A few Directors saw scope for increased flexibility in this regard. (IMF News)
Yuan in the ascendancy May 29, 2009
That marked the beginning of the present floating exchange rate system for major currencies, with the US dollar - since then a fiat currency - serving as the world's premier reserve asset and settlement currency. The value of the SDR was redefined as a basket of four currencies, which today consists of the US dollar (44%), euro (34%), Japanese yen (11%) and British pound sterling (11%). (Asia Times Online)
A brief history of gold prices Feb 25, 2009
- March 1973 - Most major countries adopt floating exchange rate system. - May 1973 - U.S. devalues dollar to $42. (Globe and Mail -- Business)
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