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Economy Of Oceania
The economy of Oceania comprises more than 14 separate countries and their associated economies. On a total scale, Oceania has approximately 34,700,201 inhabitants who are spread among 30,000 islands in the South Pacific bordered between Asia and the Americas. This region has a diverse mix of economies from the highly developed and globally competitive financial markets of Australia and New Zealand to the much less developed economies that belong to many of its island neighbours. Regional variation ''to be completed'' Trade blocs The smallest Pacific nations rely on trade with Australia, New Zealand and the United States for exporting goods and for accessing other products. Australia and New Zealand's trading arrangements are known as Closer Economic Relations. Australia and New Zealand, along with other countries, are members of Asia-Pacific Economic Cooperation (APEC) and the East Asia Summit (EAS), which may become trade blocs in the future particularly EAS. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP (PPP)
GDP (PPP) means gross domestic product based on purchasing power parity. This article includes a list of countries by their forecast estimated GDP (PPP). Countries are sorted by GDP (PPP) forecast estimates from financial and statistical institutions that calculate using market or government official exchange rates. The data given on this page are based on the international dollar, a standardized unit used by economists. Certain regions that are not widely considered countries such as the European Union and Hong Kong also show up in the list if they are distinct jurisdiction areas or economic entities. GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita income. It is however limited wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Exchange Rate
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike in a floating (flexible) exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CFP Franc
The CFP franc ( French: , called the ''franc'' in everyday use) is the currency used in the French overseas collectivities (, or COM) of French Polynesia, New Caledonia, and Wallis and Futuna. The initials ''CFP'' originally stood for ('French colonies of the Pacific'). This was later changed to ('Pacific Financial Community') and then to its present term, ('Pacific Franc Exchange'). Its ISO 4217 currency code is ''XPF''. The CFP franc is subdivided into 100 centimes. History 1945–1949 The CFP franc was created in December 1945, together with the CFA franc, used in Africa. The reason for the creation of these francs was the weakness of the French franc immediately after the Second World War. When France ratified the Bretton Woods Agreement in December 1945, the French franc was devalued in order to set a fixed exchange rate with the US dollar. New currencies were created in the French colonies to spare them the strong devaluation of December 1945. René Pleven, the F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of Fiji
The Reserve Bank of Fiji (RBF) is the central bank of the Pacific island country of Fiji. The responsibilities of the RBF include issue of currency, control of money supply, currency exchange, monetary stability, promotion of sound finances, and fostering economic development. The Bank is the only institution that is permitted to issue Fijian dollars and put them into circulation. It is also responsible for setting the overnight policy rate, the main policy or bank rate for Fiji. History In 1914 the then colonial Government establishing the Currency Board with the sole right to issue notes and coins in the then Colony of Fiji. After independence from Britain in 1970, a new institution was created in 1973, the ''Central Monetary Authority'' (CMA) which took over the issuing of currency and also took on an expanded remit. The CMA was tasked with regulating the issue of currency and the supply, availability and international exchange of money; promoting monetary stability; pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fijian Dollar
The Fijian dollar (currency sign: FJ$, Dollar sign, $; ISO 4217, currency code: FJD) has been the currency of Fiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the dollar sign $, or alternatively FJ$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cent (currency), cents. History Decimalisation origins Fiji followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimalisation, decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the United States dollar, US dollar than it did to the pound sterling. Second dollar (1969–present) The dollar was reintroduced on 15 January 1969, replacing the Fijian pound at a rate of 1 pound = 2 dollars, or 10 shillings = FJ$1. Despite Fiji having been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Chile
The Central Bank of Chile ( es, Banco Central de Chile) is the central bank of Chile. It was established in 1925 and is incorporated into the current Chilean Constitution as an autonomous institution of constitutional rank. Its monetary policy is currently guided by an inflation targeting regime. History Starting in the mid-19th century, private banks started to thrive in Chile, spurring growing concerns over the control of payment methods and persistent inflation. To this end, the government hired a mission led by economics professor Edwin Kemmerer of Princeton University and based the nascent central bank's structure in one of the mission proposals. In August 1925, the Central Bank of Chile (CBoC) was created through Decree Law 486, which also established the bank's monopoly for issuing bank notes under a gold standard regime. A degree of independence to avoid capture by the public or private sectors was implicit in its ten-member board structure. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Easter Island
Easter Island ( rap, Rapa Nui; es, Isla de Pascua) is an island and special territory of Chile in the southeastern Pacific Ocean, at the southeasternmost point of the Polynesian Triangle in Oceania. The island is most famous for its nearly 1,000 extant monumental statues, called ''moai'', which were created by the early Rapa Nui people. In 1995, UNESCO named Easter Island a World Heritage Site, with much of the island protected within Rapa Nui National Park. Experts disagree on when the island's Polynesian inhabitants first reached the island. While many in the research community cited evidence that they arrived around the year 800, there is compelling evidence presented in a 2007 study that places their arrival closer to 1200. The inhabitants created a thriving and industrious culture, as evidenced by the island's numerous enormous stone ''moai'' and other artifacts. However, land clearing for cultivation and the introduction of the Polynesian rat led to gradual deforest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of New Zealand
The Reserve Bank of New Zealand (RBNZ, mi, Te Pūtea Matua) is the central bank of New Zealand. It was established in 1934 and is constituted under the Reserve Bank of New Zealand Act 1989. The governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank's current Governor is Adrian Orr. Employees of the bank operate under the framework of a managerial hierarchy. The Reserve Bank of New Zealand does not offer financial services to the public nor does it offer deposit insurance, and its website refers people to other financial institutions. Ownership The Reserve Bank has been wholly owned by the New Zealand Government since 1936. The Reserve Bank is established by an Act of Parliament (the Reserve Bank of New Zealand Act 1989) and it has statutory independence. The Reserve Bank is accountable to Parliament and provides an annual dividend to the Government. Monetary policy Primary Functions The Reserve Bank's primary functio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Dollar
The New Zealand dollar ( mi, tāra o Aotearoa; sign: $, NZ$; code: NZD) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign ($). "$NZ" or "NZ$" are sometimes used when necessary to distinguish it from other dollar-denominated currencies. Introduced in 1967, the dollar is subdivided into 100 cents. Altogether it has five coins and five banknotes with the smallest being the 10-cent coin; smaller denominations have been discontinued due to inflation and production costs. In the context of currency trading, the New Zealand dollar is sometimes informally called the "Kiwi" or "Kiwi dollar", since the flightless bird, the Kiwi (bird), kiwi, is depicted on its New Zealand one-dollar coin, one-dollar coin. It is the tenth most traded currency in the world, representing 2.1% of global foreign exchange marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of Australia
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the ''Reserve Bank Act 1959'' removed the central banking functions from the Commonwealth Bank. The bank's main policy role is to control inflation levels within a target range of 2-3%, by controlling the unemployment rate according to the NAIRU, via controlling the official cash rate. The NAIRU was implemented in most Western nations after 1975, and has been maintained at a target of 5-6% unemployment. The average unemployment rate in Australia between the end of the second world war and the implementation of the NAIRU was consistently between 1-2%. Since the implementation of the NAIRU, the average unemployment rate in Australia has been close to 6%. The RBA also provides services to the Government of Australia and services to other central banks and official institutions. The RBA currently comprises the Payments System Board, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Dollar
The Australian dollar (sign: $; code: AUD) is the currency of Australia, including its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. It is legal tender in Australia.''Reserve Bank Act 1959'', s.36(1) an ''Currency Act 1965'', s.16 Within Australia, it is almost always abbreviated with the ($), with A$ or AU$ sometimes used to distinguish it from other |
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