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Inflation in 1965 was 635%. In late 1965, the 'new rupiah' was brought in, at 1 new rupiah to 1,000 old rupiah. The official exchange rate was set initially at Rp0.25 to US$1 as of 13 December 1965, a rate that did not represent reality, as the multiple exchange-rate system remained in place for the time being.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
With the unwilling ex-governor replaced, the official exchange rate was devalued on 1 August 1959 by 75% from 11.4 to 45 to the US$ (the unofficial rate was around half of that, and it had been 3.8 to the dollar in 1949). In addition, the 500 Rp and 1000 Rp notes were devalued 90% on 24 August 1959 to 50 and 100 Rp.
Fixed currency (alphabetical order) Anchor currency Rate (anchor / fixed) Abkhazian apsar: Russian ruble: 0.1 Alderney pound (only coins) [1]: Pound sterling: 1 Aruban florin
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
Currency quotations use the abbreviations for currencies that are prescribed by the International Organization for Standardization (ISO) in standard ISO 4217.The major currencies and their designation in the foreign exchange market are the US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF).
In many countries there is a distinction between the official exchange rate for permitted transactions within the country, and a parallel exchange rate (or black market, grey, unregulated, unofficial, etc. exchange rate) that responds to excess demand for foreign currency at the official exchange rate.
A currency [a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1] [2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3]
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