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The bank has set aside $20m to pay Zimbabwean dollar currency holders.
(Latin American drug lords hoard high-denomination dollar currency; Russian beeznessmen do the same with big euro notes).
In 2006, the U.S. Treasury Department estimated that somewhere around $50 billion in dollar currency is held in Argentina.
For Americans, the attraction is the cost; though the rand has strengthened against the dollar, currency exchange rates still keep prices down for American buyers.
The devaluation in Turkey, which sent the exchange value of the lira down more than 25percentt, contributed to further weakness in the euro against the dollar, currency analysts said.
His comments marked a slight strengthening of his recent language on the dollar and could resonate with gulf oil producing states that are struggling with soaring inflation and might be re-evaluating their dollar currency pegs.
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12 Dollar currencies.
dollar currencies.
A dynamically weighted petro-dollar currency basket is proposed based on the five currency claims (US dollar, Euro, British pound, Japanese yen and Swiss franc) and their varying proportions of foreign exchange reserves held by central banks.
Mr. Lowe also said a 30 billion-dollar currency swap agreement established last year would be available to all authorized deposit-taking institutions in Australia.
The major currencies US dollar index is compared against the proposed petro-dollar index to reveal an average US$8.1 billion annual gain in favor of the petro-dollar currency basket, offering OPEC members a revenue stream of diversified and highly liquid currencies to transition away from complete dependence on the US dollar crude oil pricing.
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