Professor Ted Azarmi's Forum

Guest


Author Topic: World currencies  (Read 21717 times)

Offline simonevogelgsang

  • Super Hero
  • ****************
  • Posts: 17
Re: Homework
« Reply #30 on: June 23, 2009, 08:40:53 pm »
Please find my homework attached.
It covers the following countries:
Kazakhstan
Kenya
Kuwait.
Best regards.
Simone Vogelgsang

Offline Alena Hörger

  • Senator Member
  • *************
  • Posts: 13
Re: Homework
« Reply #31 on: June 23, 2009, 08:49:54 pm »
My homework covers
Kyrgyzstan
Laos
Latvia

Best Regards

Alena Hörger
« Last Edit: June 24, 2009, 03:32:57 pm by Alena Hörger »

Offline florian totzauer

  • President Member
  • **************
  • Posts: 14
Re: Homework
« Reply #32 on: June 23, 2009, 09:28:55 pm »
I finished working on:

Lebanon
Liberia
Lithuania

Kind regards
Florian Totzauer
« Last Edit: June 24, 2009, 06:37:01 pm by florian totzauer »

Offline Winge

  • President Member
  • **************
  • Posts: 14
Re: Homework
« Reply #33 on: June 24, 2009, 10:04:59 am »
I am currently working on Macedonia, Madagascar, Malaysia

Offline bbruggem

  • Hero
  • ***************
  • Posts: 15
Re: Homework
« Reply #34 on: June 24, 2009, 12:05:27 pm »
I'm currently working on Mauritius, Mongolia and Morocco.

Offline OliverK

  • Senior Board Member
  • ***********
  • Posts: 11
Re: Homework
« Reply #35 on: June 24, 2009, 01:10:27 pm »
Mayotte, Mexico, Micronesia -- homework will follow soon

Offline Matylda

  • Super Hero
  • ****************
  • Posts: 27
Re: Homework
« Reply #36 on: June 24, 2009, 02:49:25 pm »
My homework will cover Midway Islands, Moldova, Monaco.

Best regards.

I just noticed Midway Islands are a part of the U.S., so I will add Mongolia to my list.
« Last Edit: June 24, 2009, 03:44:38 pm by Matylda »

Offline Hendrik Sill

  • Super Hero
  • ****************
  • Posts: 27
Re: Homework
« Reply #37 on: June 24, 2009, 03:48:54 pm »
I will write about the currencies of Mozambique, Namibia and Nauru.

edit: Nauru uses AUSD. So I will choose Nepal as the third country.


1) Introduction and History

a) Mozambique Metical

The Mozambique metical (plural meticais), denoted by MZM, is the official currency of Mozambique. Split into 100 centavos, the MZM has been used as the Mozambique currency since 1980 and has been through extreme devaluation over the decades. This currency is the least valued currency unit ever since the revaluation of the Romanian leu on July 1st, 2005. The MZM holds this title at about 25.55 MZM per USD.

First metical (MZM)

The metical (MZM) replaced the escudo in 1980 at par. It was divided into 100 centavos. The metical underwent severe inflation. After the revaluation of the Romanian leu, the metical briefly became the least valued currency unit, at a value of about 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005.

Second metical (MZN)

On 1 July 2006, Mozambique redenominated the metical at a rate of 1000:1 (i.e., taking three zeros off). The new ISO 4217 code is MZN. The new currency is locally abbreviated as MTn. New coins and banknotes were introduced on 1 July, 2006 and the transitional period during which both old and new meticais can be used lasted until 31 December 2006.

Old meticais are to be redeemed by the Bank of Mozambique for a period of six years, until 31 December 2012.

b) Namibian Dollar (NAD)

The Namibian Dollar, denoted by NAD, is the legal tender of Namibia that was adopted in 1993, three years after the nation first gained independence. The country formerly used the South African Rand, a legacy of their South African rule. The Rand is still legal tender in Namibia, as the Namibian Dollar is pegged to the South African Rand. The Bank of Namibia used its first banknotes on September 15, 1993 and in December 1993, the Bank issued its first national coins.

Coins in circulation include the 5 cent, 10 cent, 50 cent, $1 and $5 coins. Banknotes in circulation include the $10, $20, $50, $100, and $200 notes.

The dollar replaced the South African rand, which had been the country's currency while it was under South African rule as South-West Africa 1920-1990. The rand is still legal tender, as the Namibian dollar is linked to the South African rand and can be exchanged on a one-to-one basis locally. Namibia was also part of the Common Monetary Area from independence in 1990 until introduction of the dollar in 1993.

In 1990, moves were under way to replace the rand with a new Namibian currency. The name kalahar was proposed, as the Kalahari Desert is located in eastern Namibia. The name of Namibia's central bank was going to be known as the Namibia Reserve Bank. Denominations of this planned currency included 2, 5, 10, and 20 kalahar. (Note: There were two different designs for the 20 kalahar specimen notes.) However, these plans came to nothing, but some specimen notes were printed in a range of denominations.[citation needed]

The Bank of Namibia issued the first banknotes on 15 September 1993, and during December of that year, also issued the first national coins.

c) Nepalese Rupee(NPR)

The Nepalese Rupee, also denoted by NPR, is the official currency used in Nepal. The NPR is tied to the Indian Rupee (INR), being 5/8 its value.

The rupee was introduced in 1932, replacing the silver mohar at a rate of 2 mohar = 1 rupee. Initially, the rupee was called the mohru in Nepalese. Its value was pegged to the Indian rupee in 1993 at a rate of 1.6 Nepalese rupees = 1 Indian rupee.


2. Questions

Is there a currency peg? Is there a fixed or a floating exchange rate?

a) The currency is not pegged to any other currency. So there is a floating exchange rate.

b) Yes, the NAD is pegged to the South African Rand. So there is no floating exchange rate.

c) Yes, NPR is pegged to Indian rupee. Thus there is a fixed exchange rate.


Is it convertible?

a) The MZN is not convertible. Exchanging foreign currencies into MZN and vice versa is only possible in Mozambique.

b) The NAD is not convertible. It can only regionally be exchanged into South African rand.

c)According to gocurrency.com only 15 per cent of the money left unused shown on foreign exchange encashment receipts
can be exchanged back into another currency. This implies the currency is not convertible.

Are there forward markets/ future markets or options for this currency?

a) No information concerning these markets could be found using Google. Thus such markets most likely do not exist for this currency.

b)According to http://www.nedbanknamibia.com/content/business/InternationalBanking/forward.asp there is a forward market for NAD.

c) No information concerning these markets could be found using Google. Thus such markets most likely do not exist for this currency.

Is there a black market for the currency?

a) According to gocurrency.com there is.

b) Yes, there is.

c) Yes, there is.

Is there a managed float? Does the government intervene in the market by buying and selling
the currency or through setting restrictions? Is there a currency board?

a) According to http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/1999/12/30/000094946_99121005350963/Rendered/INDEX/multi_page.txt there is an independent float.

b & c) There is no managed float or a currency board for the NAD and the NRP , since both of them are pegged to another currency.

« Last Edit: June 24, 2009, 07:52:57 pm by Hendrik Sill »

Offline BeateBraun

  • President Member
  • **************
  • Posts: 14
Re: Homework
« Reply #38 on: June 24, 2009, 06:33:30 pm »
My homework will cover Nepal, New Zealand and the Netherlands.

Kind regards, Beate Braun
« Last Edit: July 01, 2009, 07:49:05 pm by BeateBraun »

Offline DanielGebauer

  • President Member
  • **************
  • Posts: 14
Re: Homework
« Reply #39 on: June 24, 2009, 07:56:42 pm »
Please find my solution attached.

I took the following currencies:
- North Korean won
- South Korean won
- South African rand


Best regards,

Daniel Gebauer

Offline ElisabethBohnert

  • Super Hero
  • ****************
  • Posts: 17
Re: Homework
« Reply #40 on: June 24, 2009, 08:05:55 pm »
Hey!
My homework will cover the Netherlands Antilles, Nicaragua and Nigeria.

Best regards, Eli

Offline jensonpoon

  • Silver Member
  • *****
  • Posts: 5
Re: Homework
« Reply #41 on: June 24, 2009, 08:13:31 pm »
Dear all,

As I am coming from Hong Kong, I would like to show you more about the currency of my place.

Best,
Chun Jenson Poon

Offline martina.weisser

  • President Member
  • **************
  • Posts: 14
Re: Homework
« Reply #42 on: June 24, 2009, 08:18:14 pm »
Please find my homework attached,
best regards
Martina Weisser

Offline Arrow

  • Super Hero
  • ****************
  • Posts: 18
« Last Edit: June 24, 2009, 11:42:05 pm by Arrow »

Offline ElisabethBohnert

  • Super Hero
  • ****************
  • Posts: 17
Re: Homework
« Reply #44 on: June 24, 2009, 10:38:25 pm »
Hey!
So, here is my homework on currencies in the Netherlands Antilles, Nicarague and Nigeria.
See you tomorrow,
Eli