IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-26356-1_4.html
   My bibliography  Save this book chapter

The Foreign Exchange Market, Exchange Rate Determination and Exchange Rate Systems

In: An Introduction to International Money and Finance

Author

Listed:
  • Ramesh F. Ramsaran

    (University of the West Indies)

Abstract

There are almost as many currencies in the world as there are countries. Not all the latter, however, are independent and, therefore, not all are members of the United Nations, or the International Monetary Fund which had a membership of 181 at the end of April 1996. Two examples of countries which are not independent but have their own currencies are Hong Kong and the Cayman Islands.1 At the same time there are several independent states that use the same currency. For example, the CFA franc is issued by the Central Bank of West African States (BCEAO) and is the common currency in Benin, Burkina Faso, Côte D’Ivoire, Mali, Niger, Senegal, and Togo. The Eastern Caribbean dollar which is issued by the Eastern Caribbean Central Bank is used in Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St Kitts-Nevis, St Lucia and St Vincent and the Grenadines. Anguilla and Montserrat are not independent states. In certain countries (for example, Panama and the Bahamas) the US dollar circulates side by side with the local medium.

Suggested Citation

  • Ramesh F. Ramsaran, 1988. "The Foreign Exchange Market, Exchange Rate Determination and Exchange Rate Systems," Palgrave Macmillan Books, in: An Introduction to International Money and Finance, chapter 4, pages 91-126, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26356-1_4
    DOI: 10.1007/978-1-349-26356-1_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-26356-1_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.