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Special drawing rights (SDRs, code XDR) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). [1] SDRs are units of account for the IMF, and not a currency per se. [2] They represent a claim to currency held by IMF member countries for which they may be exchanged. [3]
The Texas dollar was the currency of the Republic of Texas. Several forms of currency were issued, but an ongoing economic depression made it difficult for the government to provide effective backing. [1] The republic accepted the standard gold and silver coins of the United States, but never minted its own coins. [2]
In the absence of an international mechanism tying the dollar to gold via fixed exchange rates, the dollar became a pure fiat currency and as such fell to its free market exchange price versus gold. Consequently, the price of gold rose from $35/ounce (1.125 $/g) in 1969 to almost $500 (29 $/g) in 1980.
In October 1863, Confederate States Senator Louis Wigfall of Texas said that a Confederate soldier received $11 per month in pay, which was worth the same as $1 had been worth at the beginning of the war. [4] In September 1864, one Confederate dollar was worth the same as three cents of United States currency. [5]
Due to the fixed metallic content of the gold franc, its exchange rate with the Swiss franc would have gone up and down according to market supply and demand, like any other free-floating currency. The gold franc was intended to become a safe-haven currency, to divert international capital flows in times of financial crises away from the Swiss ...
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A history of the greenbacks: with special reference to the economic consequences of their issue: 1862–65. University of Chicago Press. Oberholtzer, Ellis Paxson (1904). Abraham Lincoln. Philadelphia: George W. Jacobs. Vol.I Vol.II; Oberholtzer, Ellis Paxson (1907). Jay Cooke: Financier of the Civil War. Philadelphia: George W. Jacobs. Vol.I ...
Temu, the fast-growing Chinese e-commerce platform selling $4 home decor and $10 shirts, is successfully taking on U.S. dollar stores including industry leader Dollar General, according to the ...