US dollar up against 9 currencies year to date.
- Thread starter Debaser82
- Start date
Currencies that have been pegged / anchored to the dollar are quickly replacing with a basket of currencies.
Fijian Dollar anchored to the dollar in 1976... Now pegged to a basket of currencies (AUD, NZ and others)
Argentina in 1992 pegged 1 peso = 1 dollar and our 2001 hick up caused them a financial crisis. In 2002 they abandoned the dollar as its anchor.
Since then they've amassed 270 Trillion dollars from exports - roughly 1/3 of their reserves remain pegged to the dollar.
Their government publicly acknowledged a strategy of keeping the exchange rate between 2.90 to 3.10 pesos per U.S. dollar, in order to maintain the competitiveness of exports and encourage import substitution by local industries.
Fijian Dollar anchored to the dollar in 1976... Now pegged to a basket of currencies (AUD, NZ and others)
Argentina in 1992 pegged 1 peso = 1 dollar and our 2001 hick up caused them a financial crisis. In 2002 they abandoned the dollar as its anchor.
Since then they've amassed 270 Trillion dollars from exports - roughly 1/3 of their reserves remain pegged to the dollar.
Their government publicly acknowledged a strategy of keeping the exchange rate between 2.90 to 3.10 pesos per U.S. dollar, in order to maintain the competitiveness of exports and encourage import substitution by local industries.