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The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.
GBP/USD exchange rate. The 1976 sterling crisis was a currency crisis in the United Kingdom. Inflation (at close to 25% in 1975, causing high bond yields and borrowing costs), a balance-of-payments deficit, a public-spending deficit, and the 1973 oil crisis were contributors.
[11] According to Central Intelligence Agency , "budget surplus (+) or deficit (-) records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit).
Governments often take on the role of fending off such attacks by satisfying the excess demand for a given currency using the country's own currency reserves or its foreign reserves (usually in the United States dollar, Euro or Pound sterling).
R0–R160,000 18% of every Rand R160,001–R250,000 R28,800 plus 25% of the amount above R160,000 R250,001–R346,000 R51,300 plus 30% of the amount above R250,000 R346,001–R484,000 R80,100 plus 35% of the amount above R346,000 R484,001–R617,000 R128,400 plus 38% of the amount above R484,000 R617,001 and over
A 25 paisa coin is called chavanni (equal to 4 annas) and 50 paisa is athanni (8 annas). However, in recent years, due to inflation, the use of these small value coins has declined, and so has the use of these slang terms. For larger amounts, 1 lakh = 100,000 and 1 crore = 10,000,000 (or in the Indian convention, 1,00,000 and 1,00,00,000 ...
The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).
In 1815, at the end of the Napoleonic Wars, British government debt reached a peak of more than 200% of GDP, [17] nearly 887 million pounds sterling. [18] The debt was paid off over 90 years by running primary budget surpluses (that is, revenues were greater than spending after payment of interest). [11]