Currency swaps, Managerial Economics

Currency Swaps

If the currency of one country is not convertible, the central banks o f the two countries can exchange their currencies, and the country with the non-convertible currency can use the convertible currency of the other country.  These are called currency swaps.  The country with the non-convertible currency will later purchase back its own currency using gold or convertible currency.

Posted Date: 11/30/2012 5:28:16 AM | Location : United States

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