Currency Conversion Manual
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Currency and Coin Management
The George Washington University WASHINGTON DC IBI - INSTITUTE OF BRAZILIAN BUSINESS AND PUBLIC MANAGEMENT ISSUES The Minerva Program Fall 2004 CURRENCY AND COIN MANAGEMENT: A COMPARISON OF AMERICAN AND BRAZILIAN MODELS Author: Francisco José Baptista Campos Advisor: Prof. William Handorf Washington, DC – December 2004 AKNOWLEDGMENTS ? to Dr. Gilberto Paim and the Instituto Cultural Minerva for the opportunity to participate in the Minerva Program; ? to the Central Bank of Brazil for having allowed my participation; ? to Professor James Ferrer Jr., Ph.D., and his staff, for supporting me at the several events of this Program; ? to Professor William Handorf, Ph.D., for the suggestions and advices on this paper; ? to Mr. José dos Santos Barbosa, Head of the Currency Management Department, and other Central Bank of Brazil officials, for the information on Brazilian currency and coin management; ? to the Federal Reserve Bank of Richmond and, in particular, to Mr. William Tignanelli and Miss Amy L. Eschman, who provided me precious information about US currency and coin management; ? to Mr. Peter Roehrich, GWU undergraduate finance student, for sharing data about US crrency and coin management; and, ? to Professor César Augusto Vieira de Queiroz, Ph.D., and his family, for their hospitality during my stay in Washington, DC. 2 ? TABLE OF CONTENTS I – Introduction 1.1. Objectives of this paper 1.2. A brief view of US and Brazilian currency and coin II – The currency and coin service structures in the USA and in Brazil 2.1. The US currency management structure 2.1.1. The legal basis 2.1.2. The Federal Reserve (Fed) and the Reserve Banks 2.1.3. -
Code List 11 Invoice Currency
Code list 11 Invoice currency Alphabetical order Code Code Alfa Alfa Country / region Country / region A BTN Bhutan ngultrum BOB Bolivian boliviano AFN Afghan new afghani BAM Bosnian mark ALL Albanian lek BWP Botswanan pula DZD Algerian dinar BRL Brazilian real USD American dollar BND Bruneian dollar AOA Angolan kwanza BGN Bulgarian lev ARS Argentinian peso BIF Burundi franc AMD Armenian dram AWG Aruban guilder AUD Australian dollar C AZN Azerbaijani new manat KHR Cambodian riel CAD Canadian dollar B CVE Cape Verdean KYD Caymanian dollar BSD Bahamian dollar XAF CFA franc of Central-African countries BHD Bahraini dinar XOF CFA franc of West-African countries BBD Barbadian dollar XPF CFP franc of Oceania BZD Belizian dollar CLP Chilean peso BYR Belorussian rouble CNY Chinese yuan renminbi BDT Bengali taka COP Colombian peso BMD Bermuda dollar KMF Comoran franc Code Code Alfa Alfa Country / region Country / region CDF Congolian franc CRC Costa Rican colon FKP Falkland Islands pound HRK Croatian kuna FJD Fijian dollar CUC Cuban peso CZK Czech crown G D GMD Gambian dalasi GEL Georgian lari DKK Danish crown GHS Ghanaian cedi DJF Djiboutian franc GIP Gibraltar pound DOP Dominican peso GTQ Guatemalan quetzal GNF Guinean franc GYD Guyanese dollar E XCD East-Caribbean dollar H EGP Egyptian pound GBP English pound HTG Haitian gourde ERN Eritrean nafka HNL Honduran lempira ETB Ethiopian birr HKD Hong Kong dollar EUR Euro HUF Hungarian forint F I Code Code Alfa Alfa Country / region Country / region ISK Icelandic crown LAK Laotian kip INR Indian rupiah -
Monetary and Fiscal Policies of Brazil, 1953-1963
MONETARY AND FISCAL POLICIES OF BRAZIL 1953-1963 By JAMES HENDERSON DUKES A DISSEHTATION PRESENTED TO THE GRADUATE COUNCIL OF THE UNH'ERSITY OF FLORIDA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF DOCTOR OF PHILOSOPHY UNIVERSITY OF FLORIDA 1968 Copyright by James Oaxidarson Dukes 1966 ACKNOWLEDGMENTS Aa most of the nacessax*y Information for this dissertation perfoz*oe comes from a foreign country, 1 find that there are several persons or organizations that should be thanked for their assistance. Without the aid x»ecelved, much of the resesu*ch material used would have been neither primary nor current. First, I would like to thank the Library of Congress for the extensive use of their facilities. Also very im- portant were the assistance of the staffs of the Brazilian Qnbassies in v/ashlngton, D. C., and in Tegucigalpa, Honduras, and the use of the library of the International Monetary Fund in Washington, D. C. I am indeed thankful for the assistance given me by Gertrude Heare of the TJhited States Department of Commerce in allowing me to borrow ’’the only available copy" of the 1964*’1966 development plan, which was replete with pertinent statistics and projections. And finally, I must show more than appreciation for the tremendous amount of assistance from my wife in the fora of preliminary and final typing, editing, and en- couragement throughout the whole period, from research to completion of the work. iii TABLE OF CONTENTS INTRODUCTION 1 PART I. INSTITUTIONAL STRUCTURE Chapter 1. THE BANKING SYSTEM I 5 2. THE TAX SYSTEM 3 . -
The Lira: Back in the Zone Panel Was Frequently Below the Lower Edge of the Band
February 1997 I,Trends MA~Y It: were frequently realigned. The forward rate in the top The Lira: Back in the Zone panel was frequently below the lower edge of the band. Thus, these narrow target zones were not seen After more than four years, the Italian lira returned as credible by the market. Since reentry, however, the to the Exchange Rate Mechanism (ERM) of the forward rate, as shown in the lower panel, is well European Union (EU) on November 25, 1996. A within the target zone, indicating that market partici- speculative attack had forced the withdrawal of the pants expect the lira to remain within the target lira from the ERM on September 17, 1992. The zones. Thus, the current wide bands appear to be ERM commits member countries to maintain their more credible than the narrower bands of the earlier exchange rates within bilateral bands or target zones period. against all the other currencies. The lira is allowed to Christopher J. Neely fluctuate within margins of 15 percent on both sides of the mid-point of the target zone, known as the central parity, which is 1.0101 DM per 1000 lire for Target Zone, Spot and 1-year Forward Rate the bilateral band with Germany. Although target zones are said to offer the advantages of more stable DM per 1000 Lira exchange rates and greater inflation credibility, the 2.4 primary motivation of the Italian government for rejoining the ERM is the requirement that the lira Target Zone 2.0 remain within the target zone for at least two years before Italy can join the European Monetary Union Spot Rate (EMU). -
The Historical Origins of the Safe Haven Status of the Swiss Franc1
Aussenwirtschaft 67.2 The historical origins of the safe haven status of the Swiss franc1 Ernst Baltensperger and Peter Kugler University of Berne; University of Basel An empirical analysis of international interest rates and of the behavior of the exchange rate of the Swiss franc since 1850 leads to the conclusion that World War I marks the origin of the strong currency and safe haven status of the Swiss franc. Before World War I, interest rates point to a weakness of the Swiss currency against the pound, the guilder and French franc (from 1881 to 1913) that is shared with the German mark. Thereafter, we see the pattern of the Swiss interest rate island develop and become especially pronounced during the Bretton Woods years. Deviations from metallic parities confirm these findings. For the period after World War I, we establish a strong and stable real and nominal trend appreciation against the pound and the dollar that reflects, to a sizeable extent, inflation differentials. JEL codes: N23 Key words: Swiss franc, safe haven, Swiss interest island, deviation from metallic parity, real and nominal appreciation 1 Introduction The Swiss franc is commonly considered a “strong” currency that serves as a “safe haven” in crisis periods. This raises the question of when the Swiss franc took on this property. Is it associated with the flexible exchange rate regime in place since 1973, or was it already in existence before then? Was the Swiss franc a “weak” currency even in the first decades after its creation in 1850? In order to analyze these questions, we need a definition of a strong currency and its properties. -
Optimal Currency Shares in International Reserves: the Impact of the Euro and the Prospects for the Dollar
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Papaioannou, Elias; Portes, Richard; Siourounis, Gregorios Working Paper Optimal currency shares in international reserves: the impact of the euro and the prospects for the dollar ECB Working Paper, No. 694 Provided in Cooperation with: European Central Bank (ECB) Suggested Citation: Papaioannou, Elias; Portes, Richard; Siourounis, Gregorios (2006) : Optimal currency shares in international reserves: the impact of the euro and the prospects for the dollar, ECB Working Paper, No. 694, European Central Bank (ECB), Frankfurt a. M. This Version is available at: http://hdl.handle.net/10419/153128 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an -
Silicomanganese from Brazil, the People's Republic of China, Ukraine, and Venezuela
Silicomanganese from Brazil, the People's Republic of China, Ukraine, and Venezuela Investigations Nos. 731-TA-671-67 4 (Final) Publication 2836 December 1994 U.S. International Trade Commission Washington, DC 20436 U.S. International Trade Commission COMMISSIONERS Peter S. Watson, Chairman Janet A. Nuzum, Vice Chairman David B. Rohr Don E. Newquist Carol T. Crawford Lynn M. Bragg Robert A. Rogowsky Director of Operations Staff assigned: Douglas Corkran, Investigator Charles Yost, Industry Analyst Cindy Cohen, Economist John Ascienzo, Accountant Shara Aranoff, Attorney George Deyman, Supervisory Investigator Address all communications to Secretary to the Commission United States International Trade Commission Washington, DC 20436 U.S. International Trade Commission Washington, DC 20436 Silicomanganese from Brazil, the People's Republic of China, Ukraine, and Venezuela Publication 2836 December 1994 CONTENTS Part I: Determinations and views of the Commission . 1-1 Determinations . 1-3 Views of Commissioner David B. Rohr and Commissioner Don E. Newquist. 1-5 Views of Chairman Peter S. Watson, Vice Chairman Janet A. Nuzum, Commissioner Carol T. Crawford and Commissioner Lynn M. Bragg . 1-19 Views of Chairman Peter S. Watson, Commissioner Carol T. Crawford and Commissioner Lynn M. Bragg on cumulation . 1-29 Views of Chairman Peter S. Watson, Commissioner Carol T. Crawford and Commissioner Lynn M. Bragg regarding no material injury by reason of LTFV imports from Brazil, China, and Ukraine . 1-37 Views of Chairman Peter S. Watson, Commissioner Carol T. Crawford and Commissioner Lynn M. Bragg on no material injury by reason of L TFV imports from Venezuela . 1-47 Views of Chairman Peter S. -
Interview with Director of the Italian State Mint November 14, 2011 by Michael Alexander 2 Comments
Interview with Director of the Italian State Mint November 14, 2011 By Michael Alexander 2 Comments Classic numismatic design has its roots in the ancient states of Athens and Rome. Today, this unparalleled tradition continues in the modern city of Rome at the Instituto Poligrafico Zecca dello Stato (IZPS), the Italian State Mint. As Italy celebrates 150 years of Unification in 2011, Michael Alexander of the London Banknote and Monetary Research Centre speaks to Angelo Rossi, Director of the IPZS about its past present and what’s in store for this prime producer of classical European coinage. For many world coin collectors, the coinage of the many Italian states before unification and those of Italy are considered among some of the most beautifully designed with classic renditions of historic persons, legendary and allegorical figures. Italy’s longest serving head of state, king, Victor Emanuel III (reigned 1900 – 1946) took a particular interest in the coinage of a unified Italy as he was a keen life-long coin collector. The former king’s collection was world renowned for including some of the most extraordinary rarities, (including some of the coins issued under his reign with his portrait) and much of it is on display in the Roman Museum to delight dedicated numismatists. Italian coinage has continued to carry on the long established tradition of classically designed small works of art which can be seen throughout their designs. Should you find yourself in Europe’s Eternal City, I can heartily recommend a visit to the Roman Museum as well as the Temple where the first Mint is said to have existed, a veritable plethora of homage to our beloved activity. -
Differentiation in the Special Treatment of Developing Countries
SLICING UP THE DEVELOPING WORLD: DIFFERENTIATION IN THE SPECIAL TREATMENT OF DEVELOPING COUNTRIES Djalita Fialho The Science and Technology Foundation of the Ministry of Science, Technology and Higher Education of Portugal funded this PhD (SFRH/ BD/60826/2009). This dissertation is part of the Research Programme of CERES Research School for Resource Studies for Development © Djalita Nadine Fialho de Oliveira Ramos 2015 Cover design: graphic design by Érico Veríssimo All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the author. Printed in The Netherlands. ISBN 978-94-91478-32-1 Printed by: Ipskamp Drukkers B.V. Josink Maatweg 43 7545 PS Enschede The Netherlands Tel: 0031-(0)53 482 62 62 SLICING UP THE DEVELOPING WORLD: Differentiation in the special treatment of developing countries Het opdelen van de derde wereld: Differentiatie in de speciale behandeling van ontwikkelingslanden Thesis to obtain the degree of Doctor from the Erasmus University Rotterdam by command of the Rector Magnificus Prof. dr Huibert A. P. Pols and in accordance with the decision of the Doctorate Board The public defence shall be held on 19 June at 16.00 hrs by Djalita Nadine Fialho de Oliveira Ramos born in Praia, Cape Verde Doctoral Committee Promotor Prof. dr. Peter A. G. van Bergeijk Other Members Prof. dr. R. E. van der Hoeven Prof. dr. W. Hout Prof. dr. R. S. Gowricharn, Tilburg University Copromotor Dr S. A. Newman, Senior Lecturer, University of the West of England To my mother, Fatú, and her caring and selfless nature Contents List of Tables, Figures and Appendices ix Acronyms xii Preface and Acknowledgments xiv Abstract xviii Samenvatting xxi Introduction 1.1. -
The Future of the Euro: the Options for Finland
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Kanniainen, Vesa Article The Future of the Euro: The Options for Finland CESifo Forum Provided in Cooperation with: Ifo Institute – Leibniz Institute for Economic Research at the University of Munich Suggested Citation: Kanniainen, Vesa (2014) : The Future of the Euro: The Options for Finland, CESifo Forum, ISSN 2190-717X, ifo Institut - Leibniz-Institut für Wirtschaftsforschung an der Universität München, München, Vol. 15, Iss. 3, pp. 56-64 This Version is available at: http://hdl.handle.net/10419/166578 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Special The think tank held that the foreseen political union THE FUTURE OF THE EURO: including the banking union and fiscal union will push THE OPTIONS FOR FINLAND the eurozone towards a sort of practical federal state, referred to as the ‘weak federation’. -
Q3-Q4/16 – Two Centuries of Currency Policy in Austria
Two centuries of currency policy in Austria This paper is devoted to currency policies in Austria over the last 200 years, attempting to Heinz Handler1 sketch historical developments and uncover regularities and interconnections with macroeco- nomic variables. While during the 19th century the exchange rate resembled a kind of technical relation, since World War I (WW I) it has evolved as a policy instrument with the main objec- tives of controlling inflation and fostering productivity. During most of the 200-year period, Austrian currencies were subject to fixed exchange rates, in the form of silver and gold standards in the 19th century, as a gold-exchange standard and hard currency policy in much of the 20th century, and with the euro as the single currency in the early 21st century. Given Austria’s euro area membership, national exchange rate policy has been relinquished in favor of a common currency which itself is floating vis-à-vis third currencies. Austria’s predilection for keeping exchange rates stable is due not least to the country’s transformation from one of Europe’s few great powers (up to WW I) to a small open economy closely tied to the large German economy. JEL classification: E58, F31, N13, N14, N23, N24 Keywords: currency history, exchange rate policy, central bank, Austria When the privilegirte oesterreichische versus flexible exchange rates. During National-Bank (now Oesterreichische most of the period considered here, Nationalbank – OeNB)2 was chartered Austrian currencies were subject to in 1816, the currency systems of major fixed exchange rates, in the form of sil- nations were not standardized by any ver and gold standards in the 19th cen- formal agreement, although in practice tury, as a gold-exchange standard in a sort of specie standard prevailed. -
GENERAL CONFERENCE Industrial Development Board
Distr. GENERAL GC.8/15 IDB.21/30 31 August 1999 United Nations Industrial Development Organization ORIGINAL: ENGLISH GENERAL CONFERENCE Eighth session Vienna, 29 November - 3 December 1999 Item 11 (g) of the provisional agenda Industrial Development Board Resumed twenty-first session Vienna, 29 November 1999 Agenda item 4 (j) IMPLICATIONS OF THE EURO FOR UNIDO Report by the Director-General Reports on the budgetary, operational and financial aspects of the adoption of a single-currency system of assessment based on the euro, in compliance with decision IDB.21/Dec.8. CONTENTS Paragraphs Page Introduction .................................................................. 1 - 3 2 Chapter I. THE EURO............................................................ 4 - 7 2 II. ACTION TAKEN BY UNIDO ............................................ 8 - 9 2 III. SPLIT-CURRENCY SYSTEM OF ASSESSMENT ............................ 10 - 15 3 IV. OTHER ORGANIZATIONS .............................................. 16 - 17 4 V. THE ISSUE............................................................ 18 - 39 4 A. Replace schillings with euros under the split-currency system ................. 19 - 22 4 B. Introduce a euro-based single-currency system ............................ 23 - 39 5 VI. CONCLUSION......................................................... 40 8 VII. ACTION REQUIRED OF THE BOARD .................................... 41 8 Annexes I. Summary of major budgetary, operational and financial implications ................................... 9 II. Other organizations........................................................................