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The Indian Government has sold 20 tons of gold on the international market to meet a foreign exchange crisis.
Still, the lengthy creation process, inflation in Turkey and the country's currency exchange crisis made pricing his watches very complicated.
A foreign exchange crisis is rooted in the issuance of foreign-currency denominated debt by either a sovereign or a country's private sector (or both).
But by October 1985, when Vice President Bush drove the first model off the assembly line, the country was in a foreign exchange crisis.
The Shanghai stock exchange crisis, which has seen the Chinese authorities dealing with equities as if they were adversaries to be battered into submission, shows the same obtuseness in a different area.
If Argentina were to try to resolve its situation by dollarizing, as some have suggested, it would be following in the footsteps of Ecuador, which decided in the midst of a severe exchange crisis early in the year to adopt the American currency as its own, in place of the sucre.
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When the dollar was convertible into gold at a fixed rate, the U.S. was also susceptible to foreign exchange crises.
A series of economic and exchange crises a decade ago, however, made the cost of running Embraer so onerous that the military was forced to retrench.
From 1955 onward, however the British economy was bedevilled by a series of exchange crises which seemed to show that sterling could only be defended in a period of fixed exchange rates through strict control of the money supply.
Although many developing countries experienced periods of relatively rapid economic growth at the macro level under these policies, by the late 1970s and early 1980s unsustainable fiscal and current account deficits, hyperinflation, external debt problems and foreign exchange crises signalled the need for policy reform.
The government faced immediate financing problems and the threat of a full-blown foreign-exchange crisis.
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