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| Irredeemable Currency De-tooths Savers Now, we want to make a theoretical argument that rates in an irredeemable currency are arbitrary (we promise to return to the topic of capital destruction soon). Consider a real good such as beef. If a disease suddenly strikes down 20% of the cattle, this will reduce the supply of beef. Assuming all else is ...
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| Chinese currency now tradeable at Bank Windhoek Bank Windhoek announced this week that all its branches countrywide will start buying and selling Chinese yuan (CNY) notes. Yuan notes will be traded in addition to the current range of foreign currency notes which are exchanged at 0% commission. The Bank will accept denominations of 10, 20, ...
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| Economy Japan39s currency is the Japanese yen which comes in It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. By February 2002, the yen has dropped to a low of ¥134 to US$1. The yen is the official currency of Japan. That is only fitting, as Japan is one of the largest economies in the world, with one of the ...
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