The deal, however, was thought to be contingent on how much credit the banks would be willing to extend to Korea Micron, and at what exchange rate.
You have to consider who else might accept Litecoin if you want to spend it, or who would trade you dollars for it (and at what exchange rate and transaction fee).
No decision has been reached on what exchange rate or rates between the West's mark and the East's will be used when the two nations move to a single currency and unified monetary policy, said Dieter Vogel, a Government spokesman.
What exchange rates in fact reflect is the fundamental desire of markets to speculate.
Ms Rey points out that prices of risky assets, such as equities and corporate bonds, move in lockstep across the global economy, regardless of what exchange-rate regime is in place.
Governments instead face a dilemma, or an "irreconcilable duo": free capital flows may inevitably mean a loss of monetary-policy independence.Ms Rey points out that prices of risky assets, such as equities and corporate bonds, move in lockstep across the global economy, regardless of what exchange-rate regime is in place.
"After he becomes president, there'll be advisers at his side to explain to him what the exchange rate is, what capital flows are, what macroeconomic policy is".
"You can call him at three in the morning and he will remember what price he paid for a painting, what currency he used and what the exchange rate was at the time".
Find out if you need a visa to stay past a certain length, find out what type of power adapters the country uses (I bought a WORLD TRAVELER KIT! from Wal-Mart the day before leaving for like $20 and it works great), find out what the currency is and what the exchange rate is (from me, one Euro buys about $1.50, so if a beer costs €3, I know I'm actually paying $4.50), etc.
Essentially, it tells you what the exchange rate it cooked up is, but not what the real one is.
Money was transferred would get stuck, frozen for months, and then you'd have to negotiate what the exchange rate should be … Things were changing every week, and even people in the biennial didn't know how to handle it.
