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Single South American Currency
The single South American currency was a hypothetical united currency for South America. It was proposed by the leaders of several countries, and would have been issued by the Bank of the South to the members of the Union of South American Nations. A name for the currency was not defined, but several have been proposed, such as ''Condor'', American ''Peso'', ''Latino'', ''Pacha'', ''Sucre'', ''Colombo'', ''Peso-Real'', ''Sur'', among others. The Bank of the South establishes monetary policy and finance development projects; one of the objectives of the monetary union is the establishment of a single currency in South America. |
Currency Union
A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market). There are three types of currency unions: * ''Informal'' – unilateral adoption of a foreign currency. * ''Formal'' – adoption of foreign currency by virtue of bilateral or multilateral agreement with the monetary authority, sometimes supplemented by issue of local currency in currency peg regime. * ''Formal with common policy'' – establishment by multiple countries of a common monetary policy and monetary authority for their common currency. The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency. Advantages and disadvantages Implementing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
North American Monetary Union
The North American monetary union is a theoretical economic and monetary union of three North American countries: Canada, Mexico, and the United States. Implementation would involve the three countries giving up their current currency units (the U.S. dollar, the Canadian dollar, and the Mexican peso) and adopting a new one, created specifically for this purpose (some versions of the theory assume only the United States and Canada would be included). The hypothetical currency for the union is most often referred to as the amero. The concept is modeled on the common European Union currency (the euro). Support Canada One argument is that it would save up to $3 billion in currency transactions. The same authors also stated that Canada's GDP could rise by up to 33% in a 20-year period given the adoption of a single currency. The idea of a common currency has historically been unpopular in English-speaking Canada, in comparison to the French-speaking province of Quebec where i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Khaleeji (currency)
The Khaleeji () was a proposed name for a common currency of the member states of the Gulf Cooperation Council (GCC). Proposed name The term 'Khaleeji' is Arabic for "of the Gulf", and is traditionally associated with Eastern Arabia's Gulf states. The proposed name was turned down in late 2009, and no official name was later agreed prior to the withdrawal of an agreement for a GCC common currency. Although the name "Dinar" (, from Latin, denarius) has been suggested since it is already used in the Arab world. Backing Since Islamic economic jurisprudence prohibits interest, or 'riba,' there was speculation that the future GCC currency would be backed by gold. However, senior figures in the GCC administration have stated that the currency may be linked to the US Dollar or would tie-up with a basket of currencies in which the US Dollar would have a lion's share. The currencies of Saudi Arabia, the UAE, Qatar, Oman, and Bahrain are pegged to the US Dollar. Kuwait's Dinar is pegged ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 1 euro cent coin, euro cents. The currency is also used officially by the institutions of the European Union, by International status and usage of the euro, four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. The euro is used by 350 million people in Europe and additionally, over 200 million people worldwide use currencies pegged to the euro. It is the second-largest reserve currency as well as the second-most traded currency in the world after the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Eco (currency)
The eco is the name for the proposed common currency of the Economic Community of West African States (ECOWAS). Plans originally called for the West African Monetary Zone (WAMZ) states to introduce the currency first, which would eventually be merged with the Euro-pegged CFA franc which is used by the French-speaking West African region within the West African Economic and Monetary Union (UEMOA). This will also enable the UEMOA states to gain complete fiscal and monetary independence from France. The UEMOA states have alternatively proposed to reform the CFA franc into the eco first, which could then be extended to all ECOWAS states. The Eco has been pushed back several times since the launch of the ECOWAS single currency project, with the fifth launch deadline set for July 2027. Ten criteria For the Eco to be implemented, ten convergence criteria, set out by the West African Monetary Institute (WAMI), must be met. These criteria are divided into four primary and six sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Eastern Caribbean Dollar
The Eastern Caribbean dollar (currency symbol, symbol: EC$; ISO 4217, code: XCD) is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign ''$'' or, alternatively, ''EC$'' to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cent (currency), cents. It has been Fixed exchange rate system, pegged to the United States dollar since 7 July 1976, at the exchange rate of = .70. Circulation Six of the states using the EC$ are independent states: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The other two, Anguilla and Montserrat, are British Overseas Territories. These states are all members of the Eastern Caribbean Currency Union. Other associate members of the OECS do not use the Eastern Car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
CFP Franc
The CFP franc (French language, French: , called the ''franc'' in everyday use) is the currency used in the France, French overseas collectivity, overseas collectivities (, or COM) of French Polynesia, New Caledonia, and Wallis and Futuna. The initials ''CFP'' originally stood for () but since 2022 is officially (). Its ISO 4217 currency code is ''XPF''. The CFP franc is subdivided into 100 centimes, although there are no centime denominations. The currency is issued by ''Institut d'émission d'outre-mer'' (IEOM). History 1945–1949 The CFP franc was created in December 1945, together with the CFA franc, used in Africa, because of the weakness of the French franc immediately after the World War II, Second World War. When France ratified the Bretton Woods system, Bretton Woods Agreement in December 1945, the French franc was devalued in order to set a fixed exchange rate with the United States dollar, US dollar. New currencies were created in the French colonies to spare ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
CFA Franc
CFA franc (, ) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for , i.e. "African Financial Community" in English), used in eight West African countries, and the Central African CFA franc (where "CFA" stands for , i.e. "Financial Cooperation in Central Africa" in English), used in six Central African countries. The ISO currency codes are XOF for the West African CFA franc and XAF for the Central African CFA franc. Although the two currencies are commonly called ''CFA franc'' and (currently) have the same value, they are not interchangeable. It is therefore not a common monetary zone but two juxtaposed zones. Both CFA francs have a fixed exchange rate (peg) to the euro guaranteed by France: €1 = F.CFA 655.957 exactly. To ensure this convertibility guarantee, member countries were required to deposit half of their foreign exchange reserves with the French Treasury, but this ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Caribbean Guilder
The Caribbean guilder (code: XCG; abbreviation: Cg; ; ) is a currency of Curaçao and Sint Maarten, two constituent countries of the Kingdom of the Netherlands. It is divided into 100 cents (). Introduced on 31 March 2025, it co-circulates alongside its predecessor, the Netherlands Antillean guilder (ANG), which will cease to be legal tender on 1 July 2025. In November 2020, it was announced that the Caribbean guilder would come into circulation the following year, but it was delayed several times. The cost of the design and production of the Caribbean guilder will be approximately 15 million ANG and cash payments in ANG will be accepted for three months following the introduction of the new currency. ANG will be exchangeable at par at commercial banks for the new currency for one year following introduction, and thereafter for 29 years at the Central Bank of Curaçao and Sint Maarten. Naming The Caribbean guilder uses the ISO 4217 code of XCG, with the initial X used for s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
African Monetary Union
The African Monetary Union (AMU) is the proposed creation of an economic and monetary union for the countries of the African Union, administered by the African Central Bank. Such a union would call for the creation of a new unified currency, similar to the euro; the hypothetical currency is sometimes referred to as the afro or afriq. The single African currency is to be composed of currency units made up of regional union reserve bank currency units of which are made up country specific currencies ( The Arab Maghreb Union (AMU) - Northern Afriq, Southern African Development Community (SADC) - Southern Afriq, Economic Community of West African States (ECOWAS) - Western Afriq or ECO, East African Community (EAC) - Eastern Afriq, Common Market for Eastern and Southern Africa (COMESA) - Central Afriq etc.). The Abuja Treaty, an international agreement signed on June 3, 1991, in Abuja, Nigeria, created the African Economic Community, and called for an African Central Bank to fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
South America
South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a considerably smaller portion in the Northern Hemisphere. It can also be described as the southern Subregion#Americas, subregion of the Americas. South America is bordered on the west by the Pacific Ocean, on the north and east by the Atlantic Ocean, and to the south by the Drake Passage; North America and the Caribbean Sea lie to the northwest. The continent includes twelve sovereign states: Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay, and Venezuela; two dependent territory, dependent territories: the Falkland Islands and South Georgia and the South Sandwich Islands; and one administrative division, internal territory: French Guiana. The Dutch Caribbean ABC islands (Leeward Antilles), ABC islands (Aruba, Bonaire, and Curaçao) and Trinidad and Tobago are geologically located on the South-American continental shel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
List Of Proposed Currencies
This is a list of proposed currencies. Currencies are listed by their latest significant proposal. 19th century * Perun, planned to be introduced by Petar II Petrović-Njegoš in Montenegro * Romanat 20th century * ANCAP * Bancor, an international currency proposed by John Maynard Keynes at the Bretton Woods Conference * Gaucho, between Argentina and Brazil * Metica, in Mozambique * Terra 2000s * Amero, in a currency union for North America consisting of the United States, Canada, and Mexico * CARICOM currency, for Caribbean states (except the Bahamas) * Khaleeji, for the Gulf Cooperation Council * SUCRE, as part of the Bolivarian Alternative for the Americas 2010s * Afro, proposed currency for the African Union to be issued by the African Central Bank, expected to be introduced in the 2020s * Asian Currency Unit, proposed for the ASEAN +3 or the East Asian Community (including the ASEAN member-states, China, South Korea, and Japan) * Caribbean guilder, to replace ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
