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Exchange rate regimes: gold standard, fixed and flexible exchange rate (ECO)
 
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Subject : Economic Paper :Advanced Macroeconomics
Views: 15633 Vidya-mitra
The Gold Standard: How Does it Work? Do We Need It?
 
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The Gold Standard: How Does it Work? Do We Need It? 🌟SPECIAL OFFERS: ► Free 30 day Audible Trial & Get 2 Free Audiobooks: https://amzn.to/2Iu08SE ...OR: 🌟 try Audiobooks.com 🎧for FREE! : http://affiliates.audiobooks.com/tracking/scripts/click.php?a_aid=5b8c26085f4b8 The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. There are distinct kinds of gold standard. First, the gold specie standard is a system in which the monetary unit is associated with circulating gold coins, or with the unit of value defined in terms of one particular circulating gold coin in conjunction with subsidiary coinage made from a less valuable metal. Similarly, the gold exchange standard typically does not involve the circulation of gold coins, instead using notes or coins made of silver or other metals, but where the authorities guarantee a fixed exchange rate with another country that is on the gold standard. This creates a de facto gold standard, in that the value of the silver coins has a fixed external value in terms of gold that is independent of the inherent silver value. Finally, the gold bullion standard is a system in which gold coins do not circulate, but in which the authorities have agreed to sell gold bullion on demand at a fixed price in exchange for the circulating currency. No country currently uses the gold standard as the basis of its monetary system, although several hold substantial gold reserves. (from Wikipedia) There are strong arguments for and against the gold standard. Others say that neither the Federal Reserve OR the gold standard should exist, and that instead, the U.S. Treasury itself should control the currency supply by issuing a Greenback currency (rather than the PRIVATE Federal Reserve Bank). This position's case has been well made in the documentary film "The Secret of Oz" by Bill Still. Watch "The Secret of Oz" for free on Bill Still's channel: http://www.youtube.com/watch?v=swkq2E8mswI&feature=plcp SUBSCRIBE to Bright Enlightenment: http://www.youtube.com/BrightEnlightenment Join the club: http://www.facebook.com/BrightEnlightenment What do you think? Federal Reserve? Gold Standard? U.S. Treasury Greenbacks? Leave a comments, thoughts, and opinions in the comments!
Views: 108677 Bright Enlightenment
BoP adjustment under Gold Standard and under Fixed Exchange rate
 
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Subject:Economics Paper: International economics
Views: 320 Vidya-mitra
Fixed Exchange Rate System
 
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Fixed Exchange Rate System watch more videos at https://www.tutorialspoint.com/videotutorials/index.htm Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited
What is the Gold Standard? - Learn Liberty
 
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Before 1974, U.S. dollars were backed by gold. This meant that the federal government could not print more money than it could redeem for gold. Learn more: http://bit.ly/1HVAtKP. While this constrained the federal government, it also provided citizens with a relatively stable purchasing power for goods and services. Today's paper currency has no intrinsic value. It is not based on the value of gold or anything else. Under a gold standard, inflation was really limited. With floating value, or fiat, currency, however, some countries have seen inflation reach extremely high levels—sometimes enough to lead to economic collapse. Gold standards have historically provided more stable currencies with lower inflation than fiat currency. Should the United States return to a gold standard? SUBSCRIBE: http://bit.ly/1HVAtKP FOLLOW US: - Website: https://www.learnliberty.org/ - Facebook: https://www.facebook.com/LearnLiberty - Twitter: https://twitter.com/LearnLiberty - Google +: http://bit.ly/1hi66Zz LEARN LIBERTY Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://bit.ly/1UleLbP
Views: 283541 Learn Liberty
MMT:  A Gold Standard Or Fixed Exchange Rate Reduces Domestic Policy Space
 
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Professor L. Randall Wray on why a fixed exchange rate regime (such as a gold standard) reduces domestic policy space. This is because the government must operate its budget and the economy in such a way as to ensure that it grows the amount of reserves it has, or at minimum maintains it. In an exchange rate peg, the government makes purchases in the market using its own currency and the foreign currency in order to manipulate the price away from its market value. Therefore, the government must ensure that it has the foreign currency it's pegged to. Foreign currency comes into the country when the country exports (sells goods in exchange for foreign currency), and so the country must export more than it imports. The way to do this is with austerity, to keep domestic wages low so your citizens can't import, or to limit imports by law. With a gold standard, the government must ensure that it has a steady supply of gold to meet conversion demand. So, if the government allowed the money supply to increase (like by deficit spending) this would increase the demand for conversion, and eat into the government's gold supply. To combat this, the government can sell bonds (and allow the market determine the interest rate) to lock that money up so its citizens don't convert. In both cases, the amount the government can spend is limited. In a fixed currency exchange rate, too much spending will promote employment, cause wages to rise, leading to rising imports, and decreasing the government's foreign currency reserve. In a gold standard, the government must issue bonds when it deficit spends, and must let the market determine the interest rate, potentially leading to a runaway deficit and forced default. But on a floating exchange rate, neither of these can happen: the government can determine how much to spend and what interest rates should be, without fear of defaulting on any promises. See the whole video here: https://www.youtube.com/watch?v=-KRi9nF8BiA Follow Deficit Owls on Facebook and Twitter: https://www.facebook.com/DeficitOwls/ https://twitter.com/DeficitOwls
Views: 1097 Deficit Owls
The Gold Standard Explained in One Minute
 
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A one minute video about the monetary role of gold. As of 1971, the precious metal stopped having such a role altogether and it's interesting to analyze how and why that happened. Through this video, I did just that. Please like, comment and subscribe if you've enjoyed the video. And, of course, a share on Facebook and/or Twitter would be highly appreciated. This channel is still in its infancy, so every bit of help counts. To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message. Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to [email protected], any and all support is greatly appreciated! Oh and I've also started playing around with Patreon, my link is: https://www.patreon.com/oneminuteeconomics Interested in reading a good book? My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below: Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942 iBooks (Apple) - https://itun.es/us/wYSveb.l Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0 My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below. Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970 iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265 Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty Last but not least, if you'd like to follow me on social media, use one of the links below: https://www.facebook.com/oneminuteeconomics https://twitter.com/andreipolgar https://ro.linkedin.com/in/andrei-polgar-9a11a561
Views: 105012 One Minute Economics
Floating vs. Fixed Exchange Rates- Macroeconomics 5.4
 
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Float it or fix it? Mr. Clifford expalins the difference between floating and fixed exchange rates and how countries peg the value of their currency to another currency. Make sure to watch this video first: https://www.youtube.com/watch?v=9DVYVfI81R8
Views: 270544 Jacob Clifford
The Bretton Woods Monetary System (1944 - 1971) Explained in One Minute
 
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After World War 2, it was clear the world needed a new financial system and as such, 44 countries sent delegates to Bretton Woods, New Hampshire to work on just that. The Bretton Woods system lasted from 1944 to 1971, when Nixon ended it and thereby put the final nail in the coffin of not just the Bretton Woods monetary system but also to gold's monetary role. If you've enjoyed the video, please like and comment. To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message. Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to [email protected], any and all support is greatly appreciated! Oh and I've also started playing around with Patreon, my link is: https://www.patreon.com/oneminuteeconomics Interested in reading a good book? My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below: Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942 iBooks (Apple) - https://itun.es/us/wYSveb.l Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0 My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below. Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970 iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265 Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty Last but not least, if you'd like to follow me on social media, use one of the links below: https://www.facebook.com/oneminuteeconomics https://twitter.com/andreipolgar https://ro.linkedin.com/in/andrei-polgar-9a11a561
Views: 125553 One Minute Economics
Nixon Ends Bretton Woods International Monetary System
 
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On August 15, 1971, President Nixon announced on TV 3 dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system. And he imposed a temporary surcharge (tariff) on all imports. The Bretton Woods system was created towards the end of World War II and involved fixed exchange rates with the U.S. dollar as the key currency - but also a role for gold linked to the dollar at $35/ounce. The system began to falter in the 1960s because of an excess of dollars flowing out of the U.S. which foreign central banks had to absorb. A run on gold in 1968 was stemmed by a patch on Bretton Woods known as the two-tier gold system. All of this was ended unilaterally by the Nixon decision. After a brief attempt to create a modified fixed exchange rate system, the world moved to flexible rates.
Views: 328333 danieljbmitchell
How Bretton-Woods Fell Apart
 
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Professor Perry Mehrling discussing the structure and fall of the Bretton-Woods international monetary system. In this system, the dollar was pegged to gold at $35 per ounce, then all other national currencies were pegged to the dollar at fixed exchanges rates. Then SDRs (Special Drawing Rights) could also be used to settle international payments. This system was put into place in 1946 until it fell apart in 1971. The reason it fell apart was because the supply of international dollars was growing faster than the supply of gold. This happened because of US trade deficits, but also because they lent dollars into existence to foreign nations to finance development. But as the supply of dollars started to get much larger than the stock of gold that the US held, it started to put pressure on the dollar exchange rate with gold. We could have revalued gold, but we didn't until it was too late. When countries started demanding payments in gold instead of dollars, Nixon chose to end convertibility into gold. This ended the Bretton-Woods system, and began the era of floating exchange rates, which we still are in today. This was a monumental moment for the world, because on a floating exchange rate, a government is capable of pursuing full employment through a Job Guarantee policy (more on that here: https://www.youtube.com/watch?v=KSw0ROvM6QM&t=344s&index=1&list=PLZJAgo9FgHWZHiVWJyW2KzOWsIresj_N2). Watch the whole lecture here: https://www.coursera.org/learn/money-banking/lecture/iMZY8/the-dollar-system Take the whole course here: https://www.coursera.org/learn/money-banking/home/welcome Follow Deficit Owls on Facebook and Twitter: https://www.facebook.com/DeficitOwls/ https://twitter.com/DeficitOwls
Views: 18922 Deficit Owls
Fixed Exchange rate & Floating Exchange Rate ? Hindi / Urdu
 
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This Video Give the basic concept of Fixed Exchange rate VS Floating Exchange Rate in Hindi / Urdu For More Informational & Educational Video Visit ZPZ Education Channel & Subscribe Must ZPZ Education For More Latest or new Videos. ZPZ Education Channel Link: www.youtube.com/channel/UCwFzeQDf9cGm_ZeTXV_t5SA
Views: 1999 ZPZ Education
Fixed and Floating Exchange Rates
 
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Fixed and Floating Exchange Rates - A look at the difference between fixed and floating exchange rates, specifically looking at how fixed exchange rate regimes are managed
Views: 73515 EconplusDal
How Exchange Rates Work
 
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● We explain topics simply. So Subscribe if you want to learn while being entertained. ✔ Please like the video and comment if you enjoyed - it helps a lot! ▶ If you want a question answered then ask in the comments and we may make a video about it! About the video: You may have traveled a lot and wondered why you get more of one currency when you exchange it for another. If so, you have witnessed exchange rates in action, but do you know how they work? Watch the video to find out what exchange rates are, how to convert between them and the different systems which determine a currencies exchange rate. Historically the gold standard system had been used, which fixed currency to a select value of gold, held in a vault. The three main systems are the floating, managed and fixed exchange rate systems. The floating system has minimal government intervention, using supply and demand to determine the exchange rate. The managed exchange rate is allowed to be within a permitted band and a fixed exchange rate is usually pegged to a currency with the interest of being competitive in the international market. The video explains this in more detail and with helpful picture to guide you through the subject.
Views: 365256 SimplyExplain
Fixed vs Floating Exchange Rates (Arguments For and Against)
 
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Fixed vs Floating Exchange Rates (Arguments For and Against) - The arguments for and against a fixed and floating exchange rate
Views: 54770 EconplusDal
Fixed exchange rates
 
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In this video you will learn how fixed exchange rate systems work, their advantages and disadvantages and what is meant by devaluation and revaluation.
Views: 4604 EnhanceTuition
Money and Banking - Lecture 31 HD
 
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modern monetary system, post-Bretton Woods, Bretton Woods II, petrodollar system, fixed-exchange rate system, flexible exchange rate system, inflation tax, imperial tax, dollar diversification, financial crisis, the oil weapon, the gold weapon, dollarization, currency substitution, currency peg, hard peg, currency board, currency union,
Views: 598 Krassimir Petrov
Floating and Fixed Exchange Rates
 
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This revision video looks at fixed, managed floating and fixed exchange rates and considers some of the advantages / drawbacks of each choice of currency system. A Level Economics Revision Flashcards These superb packs of revision flashcards contain everything you need to cover for AQA & Edexcel A Level Economics A 20% discount is automatically applied if you order 4 or more flashcard packs in the same order! https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards CONNECT WITH TUTOR2U ECONOMICS Web: https://www.tutor2u.net/economics Twitter: tutor2u Economics: https://twitter.com/tutor2uEcon Twitter: Geoff Riley https://twitter.com/tutor2uGeoff Facebook: https://www.facebook.com/tutor2u Instagram: https://www.instagram.com/tutor2uecon/ MORE HELP WITH A LEVEL & IB ECONOMICS Online webinars: https://www.tutor2u.net/economics/events/students/online Revision Workshops: https://www.tutor2u.net/economics/events/students/face-to-face Study Notes on every Topic: https://www.tutor2u.net/economics/reference/study-notes Key topics: https://www.tutor2u.net/economics/topics - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 27003 tutor2u
Fixed exchange-rate system
 
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A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate. A fixed exchange rate is usually used in order to stabilize the value of a currency by directly fixing its value in a predetermined ratio to a different, more stable or more internationally prevalent currency, to which the value is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, the way floating currencies will do. This makes trade and investments between the two currency areas easier and more predictable, and is especially useful for small economies in which external trade forms a large part of their GDP. A fixed exchange-rate system can also be used as a means to control the behavior of a currency, such as by limiting rates of inflation. However, in doing so, the pegged currency is then controlled by its reference value. As such, when the reference value rises or falls, it then follows that the value(s) of any currencies pegged to it will also rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy in order to achieve macroeconomic stability. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 1058 Audiopedia
Fixed Exchange Rate
 
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See more videos at: http://talkboard.com.au/ In this video, we look at the central government can fix the value of the currency either above or below the fundamental value.
Views: 13372 talkboard.com.au
Fixed Exchange Rate - By 2thepoint
 
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2thepoint Youtube Channel Covers UPSC /Civils/IAS /IPS /IFS Preparation Videos, UPSC Material, IAS Material, Banking Material, Indian Economy, International Relations, Indian Polity, Geography, Indian Art and Culture UPSC Videos, Civil Service Preparation Strategy. Also Visit: Website: https://www.2thepoint.in/ Facebook: https://www.facebook.com/2thepoint.in/
Views: 158 2thepoint
Gold is Turkey’s Only Hope At Saving The Lira - Expert
 
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The only chance that Turkey has to stabilize the lira and stop further depreciation is to establish a currency board and anchor the lira to another reserve, like gold, said Steve Hanke, professor of Applied Economics at the Johns Hopkins University and senior fellow at the Cato Institute. “Under a currency board arrangement that was gold-based, the lira would trade at a fixed exchange rate to gold, be freely convertible, and it would be fully backed 100% by gold. So, the lira would literally be as as good as gold,” Hanke told Kitco News. Hanke noted that under this arrangement, inflation in Turkey would “collapse,” from 100% on an annual basis down to “almost nothing, overnight,” further stabilizing the lira. He added that this currency board arrangement is Turkey’s only option at preventing further lira depreciation at this point, as by definition, capital controls under a currency board with a fixed currency is not possible, and raising interest rates would also not be economically sound policy given the high inflation rate. “There’s no way that the lira will stabilize with the current system that they have. The inflation rate, as I measure it, is around 100% in Turkey right now, on an annual basis, and that implies that to get a real yield that’s positive, you’d have to have interest rates over 100% and that of course, that will kill the Turkish economy,” he said. Hanke added that Turkey is no stranger to lira collapses, as their currency has witnessed similar rapid depreciation in the past. “They’re slow learners,” he said. _________________________________________________________________ Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions. Subscribe to our channel to stay up to date on the latest insights moving the metals markets. For more breaking news, visit http://www.kitco.com/ Follow us on social media: Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs Twitter - https://twitter.com/kitconewsnow Google+: https://plus.google.com/u/0/116266490328854474588 StockTwits - https://stocktwits.com/kitconews Live gold price and charts: http://www.kitco.com/gold-price-today-usa/ Live silver price and charts: http://www.kitco.com/silver-price-today-usa/ Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/ Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
Views: 53800 Kitco NEWS
#72, Foreign exchange rate (Class 12 macroeconomics)
 
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Class 12 macroeconomics ..... Foreign exchange rate.... Foreign exchange.... Types of foreign exchange rate ..... Depreciation and appreciation of currency.... Contact for my book 7690041256 Economics on your tips video 72 Our books are now available on Amazon Special Combo - Economics on your tips Micro + Macro http://amzn.in/d/eSxj5Ui Economics on your tips Macroeconomics http://amzn.in/d/2AMX85O Economics on your tips Microeconomics http://amzn.in/d/cZykZVK Official series of playlists UG courses ( bcom, bba, bca, ba, honours) – https://www.youtube.com/playlist?list=PLgC10_Xv-BGirAqOr-hU8e-N_Nz0UpgJ- Micro economics complete course – https://www.youtube.com/playlist?list=PLgC10_Xv-BGg5n3YU6oEV7_HIzBuEbbOz Macro economics complete course- https://www.youtube.com/playlist?list=PLgC10_Xv-BGg2ORORpILqiDR1gyH3MkXw Statistics complete course- https://www.youtube.com/playlist?list=PLgC10_Xv-BGjrAkDyeMioJ7DEexAEeVdt National income – https://www.youtube.com/playlist?list=PLgC10_Xv-BGjpE-1V4uz_0wvvbZQnSsj_ In order to promote us and help us grow Paytm on - 7690041256
Views: 353752 Economics on your tips
Chinese Gold Standard Would be "Game Changer” - Bloomberg Intelligence | Kitco News
 
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Could gold, the world's longest running currency be used to create a new order in global currencies? The Chinese central bank is said to be considering backing its yuan with the yellow metal. This move, says Ken Hoffman, Global Head of Metals and Mining Research for Bloomberg Intelligence, would be a "game changer." Why would China consider such a move? Hoffman explains that Chinese policy makers are already trying to establish the yuan as a reserve currency, and backing it with gold would help attract foreign capital inflows. China is expected to receive approval from its central bank for a yuan-denominated gold fix, with a potential for an announcement as early as next week. Hoffman explains that a gold standard would not necessarily create a big constraint to the Chinese central bank, as many believe. “It could be at any price they fix. There’s a lot of things that they can do to make this work,” he says. Hoffman estimates that to create an exchange rate of one ounce of gold for every $64,000, the country would need about 10,000 metric tons of the metal. "That’s nine times the nation’s official holdings and about 6 percent of all the bullion ever mined globally," Hoffman says. Moving to a gold standard may also be a question of power for China. Hoffman says that when the U.S. adopted a gold standard after World War II, it emerged as the main power in the International Monetary Fund. In 1971, the U.S. ended the use of the gold standard and rendered the dollar a fiat currency. If China decides to go into some form of a gold standard, Hoffman says it would make the rest of the world view the metal as a currency again. “If they go for it, we’d be talking about fireworks,” he says. Kitco News, June 25, 2015. Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: www.kitco.com/newsletter Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com -- Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews --- Kitco News on Facebook: http://facebook.com/kitconews --- Kitco News on Google+: http://google.com/+kitco --- Kitco News on StockTwits: http://stocktwits.com/kitconews
Views: 42356 Kitco NEWS
#27 Foreign exchange Rate part-2 class 12 macroeconomics | Determination of Flexible exchange rate
 
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Hello friends.... Foreign exchange rate class 12 economics.... Fixed exchange rate system class 12 economics... Flexible exchange rate system of foreign exchange.. Determination of flexible exchange rate ..... Process of determination of flexible exchange rate.... Managed floating class 12 macroeconomics.... Gold system of exchange rate.... Bretton wood system of exchange rate... Exchange rate mechanism class 12 Exchange rate management..... Foreign exchange rate part-1 class 12 macroeconomics https://youtu.be/fn_cwPphjFE *********************************************** Contact me at Whatsapp-8802919803 Email me- [email protected] **************************************************
Views: 678 Azam classes
The Determinants of Exchange Rates in a Floating Exchange Rate System
 
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To understand how a country's currency might appreciate or depreciate, you must understand the variable that can affect demand or supply for the currency on the forex market. This lesson will introduce a useful acronym (TIPSY) for remembering the determinants of exchange rates, and evaluate the advantages and disadvantages of floating exchange rate systems. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 27075 Jason Welker
Barry Eichengreen: Pegged exchange rates
 
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Barry Eichengreen, an economist, compares the problems of the gold standard to those of the European Monetary System and the Eurozone. From The Economy, published free online by The CORE Project (http://core-econ.org).
Views: 2977 CORE team
Exchange Rates Unit:  Fixed Exchange Rate System
 
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Your IB Economics Course Companion! This is video 3 of 10 videos in “The Exchange Rates Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkH_sdGVbD8ADVwIApVuVIMe As a teacher of IB Economics in Santiago, Chile, these videos were created to help Standard Level students navigate their way through their two-year course of study. I have made these videos public in the hope that they might be helpful to other economics students around the world. It is important to note that I use Jocelyn Blink and Ian Dorton's "IB Economics Course Companion" as the primary text in class. As a result, many of these videos use this text as source material. I have found it to be an excellent resource for students. Another source you may find helpful is Jason Welker’s site www.econclassroom.com. Welker’s site and course companions are excellent and have served as another source for these videos. Thank you Jocelyn, Ian, and Jason. I hope you find these videos helpful to your study of IB Economics and please let me know if you have any suggestions to improve them. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/
Views: 9869 Econ Course Companion
#26 Foreign exchange Rate part-1 class 12 macroeconomic | Foreign exchange management l #Azamclasses
 
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Hello friends.... Foreign exchange rate class 12 economics.... Fixed exchange rate system class 12 economics... Flexible exchange rate system of foreign exchange.. Managed floating class 12 macroeconomics.... Gold system of exchange rate.... Bretton wood system of exchange rate... Exchange rate mechanism class 12 Exchange rate management..... *********************************************** Contact me at Whatsapp-8802919803 Email me- [email protected] **************************************************
Views: 1136 Azam classes
Pt7. How did the Gold Standard benefit world trade?
 
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We look at how the Gold Standard and therefore by definition, fixed exchange rates, made trading more convenient by eliminating any risk of exchange rate volatility.
Views: 2567 Symmetricinfo
What is Gold Standard?
 
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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Gold Standard” The gold standard is a monetary system in which a country backs its currency with a reserve of gold, and allows currency holders to exchange their notes and coins for gold. For many years up to 1914, most of the world's leading currencies had their exchange rate determined by the gold standard. The economic disruption resulting from the first world war led the combatants to abandon the link to gold. The UK (with others) returned to the gold standard in 1925, before quitting it for good in 1931. The widespread use of the gold standard ended during 1930-33 as a result of global depression and large cuts in international lending. The United States left the gold standard in 1933 and partially returned to it in 1934. After the second world war, a limited form of gold standard continued but only directly applied to the dollar; other major currencies had their exchange rates fixed to the dollar under the Bretton woods arrangements. The dollar was finally cut loose from the gold standard in 1971. By Barry Norman, Investors Trading Academy - ITA
A Gold Standard Is Extremely Wasteful
 
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Warren Mosler, on with Steve Grumbine at Real Progressives, discussing the gold standard. The fundamental problem with a gold standard, and any fixed exchange rate regime, is that it limits the economy. The government might not be able to spend (or lend) because doing so would cause it to run out of gold; if the banks clear payments in gold, then they might not be able to lend to fulfill investment desires because they'd run out of gold. This is why, whenever government needs to 'step on the gas' of the economy, and move the economy to full employment to fulfill some purpose like to win a war, they go off the gold standard. But in additional, as Mosler points out, maintaining the gold standard is extremely wasteful. Labor and resources get devoted to digging up, processing, purifying, transporting, and storing gold which serve no other public or private purpose. When the gold standard gets dropped, all of this can be re-allocated towards more pressing public purpose, or simply for the private sector to use as it sees fit. In addition, a gold standard destabilizes the domestic price level, and links output, employment, and the price level to the rate of discovery of gold. If the price of gold is fixed, then if the relative value of gold changes (because more has been dug up or found or something), then all the other prices in the economy must move to reflect that, because the price of gold is fixed. And, discovering extra gold will tend to ramp up the economy, while not discovering enough gold will cause recessions, since the money supply doesn't keep up with the needs of the economy. The whole thing is totally arbitrary. Watch the whole video here: https://www.youtube.com/watch?v=1RJP52bwmcw Follow Deficit Owls on Facebook and Twitter: https://www.facebook.com/DeficitOwls/ https://twitter.com/DeficitOwls And follow our sister page, Modern Money Memes: https://www.facebook.com/ModernMoneyMeme/ https://twitter.com/ModernMoneyMeme
Views: 1039 Deficit Owls
Gold Standard - Grisham Bhatia
 
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Video on gold standard - the monetary system prevalent before the Great Depression.
Views: 900 Grisham Bhatia
Should We Return to the Gold Standard? Money, History, & the Economy (2013)
 
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In 1944 in Bretton Woods, New Hampshire, representatives from 44 nations met to develop a new international monetary system that came to be known as the Bretton Woods system. Conference members had hoped that this new system would “ensure exchange rate stability, prevent competitive devaluations, and promote economic growth."[1] It was not until 1958 that the Bretton Woods System became fully operational. Countries now settled their international accounts in dollars that could be converted to gold at a fixed exchange rate of $35 per ounce, which was redeemable by the U.S. government. Thus, the United States was committed to backing every dollar overseas with gold. Other currencies were fixed to the dollar, and the dollar was pegged to gold. For the first years after World War II, the Bretton Woods system worked well. With the Marshall Plan, Japan and Europe were rebuilding from the war, and countries outside the US wanted dollars to spend on American goods — cars, steel, machinery, etc. Because the U.S. owned over half the world's official gold reserves — 574 million ounces at the end of World War II — the system appeared secure.[2] However, from 1950 to 1969, as Germany and Japan recovered, the US share of the world's economic output dropped significantly, from 35% to 27%. Furthermore, a negative balance of payments, growing public debt incurred by the Vietnam War, and monetary inflation by the Federal Reserve caused the dollar to become increasingly overvalued in the 1960s.[2] In France, the Bretton Woods System was called "America's exorbitant privilege"[3] as it resulted in an "asymmetric financial system" where non-US citizens "see themselves supporting American living standards and subsidizing American multinationals". As American economist Barry Eichengreen summarized: "It costs only a few cents for the Bureau of Engraving and Printing to produce a $100 bill, but other countries had to pony up $100 of actual goods in order to obtain one".[4] In February 1965 President Charles de Gaulle announced his intention to exchange its U.S. dollar reserves for gold at the official exchange rate.[5] By 1966, non-US central banks held $14 billion, while the United States had only $13.2 billion in gold reserve. Of those reserves, only $3.2 billion was able to cover foreign holdings as the rest was covering domestic holdings.[6] By 1971, the money supply had increased by 10%.[7] In May 1971, West Germany left the Bretton Woods system, unwilling to revalue the Deutsche Mark.[8] In the following three months, this move strengthened its economy. Simultaneously, the dollar dropped 7.5% against the Deutsche Mark.[8] Other nations began to demand redemption of their dollars for gold. Switzerland redeemed $50 million in July.[8] France acquired $191 million in gold.[8] On August 5, 1971, the United States Congress released a report recommending devaluation of the dollar, in an effort to protect the dollar against "foreign price-gougers".[8] On August 9, 1971, as the dollar dropped in value against European currencies, Switzerland left the Bretton Woods system.[8] The pressure began to intensify on the United States to leave Bretton Woods. The Nixon Shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct convertibility of the United States dollar to gold. While Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange, the suspension of one of its key components effectively rendered the Bretton Woods system inoperative. While Nixon publicly stated his intention to resume direct convertibility of the dollar after reforms to the Bretton Woods system had been implemented, all attempts at reform proved unsuccessful. By 1973, the Bretton Woods system was replaced de facto by a regime based on freely floating fiat currencies that remains in place to the present day. https://en.wikipedia.org/wiki/Nixon_Shock
Views: 2686 Way Back
L3/P5: IMF, SDR, Quota reform & Gold standard Exchange rate
 
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Language: Hindi, Topics Covered: 1. Bretton Woods conference and the origin of International monetary fund 2. IMF: structure and functions 3. What is gold standard exchange rate regime? Why did it fail? 4. What are special drawing rights (SDRs)? 5. Value of individual SDR and its utility 6. Criticism against IMF and the need for need for reforms in it? 7. IMF Reforms: (1) Quota reforms (2) governance structure reforms 8. BRICS Bank vs AIIB (Self study) Powerpoint available at http://Mrunal.org/download Exam-Utility: UPSC CSAT, CDS, CAPF, Bank, RBI, IBPS, SSC and other competitive exams, IIM, XLRI, MBA interviews and GDPI Venue: Sardar Patel Institute of Public Administration (SPIPA), Satellite, Ahmedabad, Gujarat,India
Views: 188311 Mrunal Patel
Fixed and Floating Exchange Rates
 
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​This is a video recording of a revision webinar looking at the economics of floating, managed floating and fixed exchange rates. ​​ - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 6357 tutor2u
Effect of Exchange Rate on Domestic Gold Prices  - Jayant Manglik - Religare Online
 
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Effect of Exchange Rate on Domestic Gold Prices. Jayant Manglik, President of Retail Distribution at Religare Securities Limited, answers this question in video. Visit www.religareonline.com to know more.
Views: 490 Religare
Fixed Exchange Rate and Flexible Exchange Rate | International Trade & Balance of Payment Economics
 
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To watch all videos on International Trade & Balance of Payment, visit playlist: https://www.youtube.com/playlist?list=PLU2YP04_LRDukL62h5xlImJ_RNOarY745 Fixed Exchange Rate and Flexible Exchange Rate | International Trade & Balance of Payment | Economics Videos | Mathur Sir Classes #InternationalTrade #BalanceofPayment #Economics #bcom #CA #CS #bba #MathurSirClasses If you like this video and wish to support this EDUCATION channel, please contribute via, * Paytm a/c : 9830489610 * Paypal a/c : www.paypal.me/mathursirclasses [Every contribution is helpful] Thanks & All the Best WE NEED YOUR SUPPORT TO GROW UP..SO HELP US!! Hope you guys like this one. If you do, please hit Like!!! Please Share it with your friends! Thank You! Please SUBSCRIBE for more videos. Video Recording and Editing by - Gyankaksh Educational Institute (9051378712) https://www.youtube.com/channel/UCFzUEzxnRDsbWIA5rnappwQ
Views: 919 Mathur Sir Classes
Origins of Money - First Form of Quantitative Easing and the Gold Standard Part 3
 
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Origins of Money - First Form of Quantitative Easing and the Gold Standard Part 3 http://www.financial-spread-betting.com/academy/bitcoin.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Coin clipping - First form of Quantitive Easing (QE) - Many rulers would clip gold/silver coins - Smelt down and redeem value of shavings - “cry down” the assigned value of a specific coin - Ruler could recant promise to pay IOU at a certain rate to clear their debts - Subjects would have to come up with more money to pay their debts - From mid-20th century onwards – because precious metal wears down easily coins have been created with steel or copper-nickel alloy Kreditivsedlar - Europe's first banknotes (1661) Stockholms Banco - Began to make out credit notes in round denominations which were freely transferable and backed by the promise of future payment in precious metal - These banknotes became very popular very quickly, simply because they were much easier to carry than precious metal - A note could be sent in an envelope - previously the large coins had to be transported by horse and cart Bank of England (1694) - Setup by William III to finance The Royal Navy for war against France - Privately owned bank Lent £1.2 million (large sum for the time) - Issue banknotes against coinage - Banknotes became the de facto currency as acceptance of payment for taxation The Gold Standard Era (18th – 20th Century) A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. - gold specie standard - the monetary unit is associated with the value of circulating gold coins - gold bullion standard - gold coins do not circulate, but the authorities agree to sell gold bullion on demand at a fixed price in exchange for the circulating currency. - gold exchange standard - government guarantees a fixed exchange rate to the currency of another country that uses a gold standard (specie or bullion) Arguments for the Gold Standard - Kept inflation down - Fixed international exchange rates and reduced uncertainty in international trade - Ensures governments live within their means – cannot spend beyond their value of gold reserves Arguments against the Gold Standard Protected savings of the wealthy Lead to people hoarding money in times of crisis Shut down credit growth Generated bankruptcies Led to unemployment
Views: 219 UKspreadbetting
How rupee-dollar rates are determined? Hindi Video
 
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In this short animation video, we have explained that how currency exchange rate of Indian Rupees is determined with other foreign currencies? To watch more amazing video of general knowledge in Hindi visit our website http://netpill.in -~-~~-~~~-~~-~- Watch our new video "Historical story of Padmavati :: Conflict of two Emperors" https://www.youtube.com/watch?v=23G5Hb9lyZ8 -~-~~-~~~-~~-~-
Views: 439735 Netpill
Pt6. What restrictions did the Gold Standard impose on member countries?
 
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This video discusses why being on the Gold Standard implies that a country has a fixed currency exchange rate with another country on the Gold Standard. We also discuss how the fixed exchange rate means that interest rates between two countries have to be similar to prevent a flow of gold from one country to the other. This makes it difficult for a country to have an independent monetary policy.
Views: 3264 Symmetricinfo
Fixed vs Floating Exchange Rates
 
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AEI scholar Derek Scissors defines and compares fixed vs. floating exchange rates as part of this Tax Foundation University lecture series on the economics of trade.
Views: 1983 TaxFoundation
BES171/Money#2: Limited vs Unlimited Legal Tenders, Fiat & Fiduciary Money, Gold standard,
 
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- So far we learned about the first two stages of money's evolution i.e. commodity money and metallic money. But metallic money was bulky to transport, so people started using bill of exchange and paper-currency as a substitutes for full bodied coins. This gave birth to two types of fiduciary money i.e. 1) legal tenders and 2) non-legal tenders. - Legal tenders can't be refused but there are caveats, accordingly they're subdivided into two parts 1) limited legal tenders such as coins which can't be used beyond a level for debt-settlement; and 2) unlimited legal tenders e.g. currency. While in theory Indian currency is unlimited legal tender but government can put reasonable restriction on it. e.g. in the latest budget 2017, the Finance Bill section 269ST prohibits cash transaction of rupee 3 lakh and above. - When fiat money is backed by gold or silver standard, it's called "representative money", and when central bank promises "to pay bearer the sum of this many rupees", currency becomes an "anonymous bearer bond with zero interest". - Over the years, India has followed three currency standards 1) fixed exchange rate 2) minimum foreign reserve system 3) managed paper currency standard. - In India, two entities issue fiat money 1) Government of India under the coinage act 1909 they issued all coins and Rs.1 note; while 2) RBI Act 1934 empowers RBI to issue the remaining bank notes and RBI central board is empowered to make recommendation to government of India to withdraw any notes from circulation. This is called "Demonetization" and was done thrice in India after independence. - After the demonetization of Rs.500 and Rs.1000 notes on 8/11/2016, Government of India issued Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 to curtail the liability of RBI regarding note exchange and at the same time make it punishable to hold old currency notes beyond a limit of 10-25. In the Budget 2017, same ordinance was put tabeled as a bill. - The controversy regarding fake Rs.10 coins. - What is bank money, how is it generated, what are its advantages? Powerpoints available under Mrunal.org/download - Faculty Name: You know who - Powerpoint available at http://Mrunal.org/download goto Mediafire folder - "Powerpoint" -"1_Economy_Mrunal" - there goto "BES17_Budget_Eco_Survey" and you'll find the powerpoints. - Exam-Utility: UPSC IAS IPS Civil service exam, Prelims, CSAT, Mains, Staff selection SSC-CGL, IBPS, SBI, RBI and other banking exams; LIC, EPFO, FCI & other PSU exams; CDS, CAPF and other defense services exams; GPSC, MPPCS, RPSC & other State PCS services exams with Indian Economy, Budget, Banking, Public Finance in its syllabus- with descriptive questions and answer writing.
Views: 295074 Mrunal Patel
L3 P5  IMF, SDR, Quota reform & Gold standard Exchange rate
 
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Views: 26 VIKAS NEHRA
Dollar($) के सामने Rupee की कीमत कैसे और कौन तय करता है? How are Rupee-Dollar rates determined?
 
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Why Indian RUPEE is falling against US dollar? and why prices of petrol & diesel is also increase? Link : https://www.youtube.com/watch?v=OTJfM8r_q3A In the past few days, a shocking news came to India's economy when the price of rupee reached level 73 against the dollar. This was the biggest drop in rupees in the history of India. how dollar's value is determined by the rupee and who decides it? important to know the history of Indian Rupee, what happened in history with Indian Rupee. So today the rupee value is around 72 in front of $1, the price of $1 was equal to one rupee in 1947. And then what has happened is that in the last 70 years rupee is more than the dollar Continued decreasing. Is there any reason for the cost of the currency because the price of the currency of the country is more or less? Now borrowed the loan, due to this, the Indian government had to reduce the cost of the rupee for the first time. The main reason for the rupee's fall was the promotion of foreign investment, as well as promoting exports. So that the foreign reserve could be increased. After independence, India adopted the fixed exchange rate system. Under the system, the government had decided that what would be the cost of Indian rupee against the dollar? Because of this, the price of Rupee has been around Rs 4.79 against the dollar since 1948. In the year 1971, the link of Indian Rupee was abolished with British pound and rupee was paired with a straight dollar. After that, till 1975, the dollar reached 8 rupees against the dollar and in the year 1985, the price of $1 was up to 12 rupees. Then came, the year 1991, The slow pace of inflation and development had broken the back of Indian economy. And India's foreign exchange was almost over, the government had to devalue the rupee again to keep the reserves of the foreign reserves alive. Because of that, in 1991, the price of one dollar reached 17 rupees. After which the government adopted Flexible Exchange Rate policy instead of the fixed exchange rate in 1993. That is, the price of the dollar was now going to decide the market, which was earlier decided by the government. But in this new system, some power was given in the hands of the RBI to stabilize the dollar rate. After this policy, the price of the rupee declined significantly. Now, instead of 1 dollar, 31 rupees would have to be repaid. After this gradually the strength of the remaining rupees was reduced, and by the year 2010, it had crossed 45 rupees. and by the year 2013, the price of one dollar had crossed 63 rupees and in spite of all the efforts of the RBI on the Modi government in 2018, the price of $1 has reached 73 rupees. Actually, the value of money depends on many things such as inflation, employment, interest rate, growth rate, trade deficit, volatility of equity markets, foreign currency reserves and so many other factors, which make rupee weak and strong Are there. whole game is foreign reserve, that is foreign currency. The foreign reserve is connected by import and export. The country which buys more import means that it buys more things from outside, its foreign reserves are lower, due to which the currency value decreases. And the same country exports more, that means, sending out more things outside, there is more foreign currency in the country, which increases the foreign reserve, which also increases the value of the currency of that country. But in this, the government has to make a balance, because if the currency of a country is strong then the external country will buy less from it. Which reduces exports. interest rate of RBI. If the interest rate on the deposit is high, people from foreign countries will invest more. And if the same interest rate is low, then there will be a decrease in foreign investment. Talking about today, the first reason for the rupee weakness is the rising prices of crude oil. Because of which the government has to pay more in foreign currency, which is decreasing the foreign reserve. The second reason is the trade deficit. Which is estimated to increase by 2.5% by 2019, the trade deficit decreases in foreign reserves, and the rupee fall in price To know more about what is a trade deficit, you must definitely see the main reason for the fall of Indian rupees; in that we have talked about it. And the dollar's rising demand in the international market is also an important reason for the rupee weakening, now what the Modi government does to stop it, we will be able to see it all in the coming time. Countries such as Russia, Russia and Iran have started taking some steps to curb the dollar, in which they are planning to use gold instead of dollars in imports export. But what is the future of rupees?