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Groshovo-credit systems for foreign banks - Ivanov VM
3.3. Jamaica exchange system
Konturi novii currency system, yaka functііonuє і rozvivaєtsya s blіtovіy ekonomіtsі doninі, buli viznachenі na naradі predstavnykіv kraїn - sobstv IMF, scho vіdbulasya in m. Kingstoni na Jamaici u sichnі 1976 p.
Kingstonskoy pleasing zapovedkuvala Jamayskoi currency system. The system has begun to function in accordance with the requirements of the ratificates designated by the participating states in the quarter of 1978. An ambiguous principle of the Jamaican currency system is being introduced .
1. The breakdown of the demonetization of gold in the sphere of foreign currency transactions was voiced: the official gold parity, the official price for gold and the financial scale of gold (gold prices) of the national groschyny odityts; Znyato be-yaki omegzhennya yogo private vicaristani. Міжнародний валюний фон припинив publikіkuvati dany pro zoloty vmist zakremih currencies. Unilead tsih dіy gold has been rewritten for zvichayny product, the price of yakogo at paperovih (credit) pennies viznachaetsya on the market zgіdno z popitom і propositsієyu. New international markets of gold were formed in New York, Chicago, Tokyo and other centers of trade. Tues, otrimavi dozvіl zdіysnjuvati on the market vіlnі opytії z kupіvlі-sale of gold, the central banks більшості країн At the end of the day yogi was stuffed from his reserves. Having absorbed the status of the pennies, gold and gold have been adorned with the goods (strategic goods), which can be exchanged in any way with the method of stabilization of the balance of payments for the sale of foreign currency.
2. It was decided to rewrite the cross-border in 1969. Міжнародну платіжну одницю СПЗ on the main reserve asset that is the international source of finance and payment. To talk about those, the system "gold - dollar - national currency", on which the Bretton Woods good was grounded, the system "SPZ - national currency" was transformed from a new one. In tzi structures SPZ otrimuvala status of alternatives is not less than gold, but dolar yak of the international groschen. Spolka SDZ yak mizhnarodnu rozraunkovu oditnitsu, yakіy viznachavsya currencies rate natsionalnyh groschen, rozrahovuvali zolotym ekvivalennom. Prote in the 70th rock singles SPZ iz with gold pohnistyu vtracheno. Сьогодні СПЗ vysnachayut on the basis of koshika currencies kraїn, part of yakih in the sphere of international trade naiwischa. Beginning from 1981 p. To the warehouse of the so-called standard koshik enter the currency: the US dollar - 42%, the Himalayan mark - 19, the French franc, and the pound sterling - by 13%. The real practice of foreign currency invoices, loans to customers in the Kynststones region, did not confirm the possibility of a temporary increase in the value of the position of the key foreign currency. Moreover, після 1981 р. Admiznistratsii US President R. Reagan vdalosya zdіysniti stabіlіzatsіynі zahodi, scho spirival zmіtsnennju mіzharbolicheskih posolіy dolar.
Roshraunok vartosty odnitsy SDZ is indicated in Table. 1.
Table 1
Vartіst odnitsy SDR for 3 chernivnya 1993 p. *
Currency | The currency component of the SDP kosha |
Exchange rate |
Equivalent to US Dollars |
1 |
2 |
3 |
4 |
Німецька марка |
1.4530 |
1,68820 |
0,268333 |
French franc |
0.8000 |
5,68900 |
0.140622 |
Japanese єна |
31,800 |
105,95,000 |
0.3300142 |
Pound Sterling |
0.0812 |
1,50870 |
0.122506 |
US Dollar |
0.5720 |
1,00,000 |
0.572000 |
SDR |
1,403603 |
Primitka. 1 SDR = 1.403603 dollars. USA; 1 dollar. United States = 0.712452 SDR.
Exchange rates for Count 3 are displayed in the oddities of currency for $ 1, for the pound sterling rulings, the course is given at US dolars. In the graph 4, eqvivalenti is imposed at the US dollar of the currency components in graph 2, which is posted to the customs offices of the exchange rates from graph 3 (the graph 2 is attached to graph 3, the margin of the pound sterling is multiplied by the margin of the pound sterling). Усі обмінні курси it is directed for giving for 12 years on Лондонській валюній біржі.
Tomu in the currency exchange system of the dolar is involved in the real basis of the monetary and financial mechanism. American currency service is close to 2/3 of the international roses. I will look at the possible situation, but the Jamaica system functions according to the principles of non-papermo-currency (yak tse perebachalosya by the way), but the Piperovo-Dolar currency standard.
3. An important knowledge of the mechanics of the new system is the request for "floating" foreign exchange rates for national hryshovi oditnits. Such a system has two protracted aspects. Z of one side, you have to change your currency, fix it, you can react effectively to post-win money in the national currencies, in order to increase the amount of money you pay to your balance of zakrem. On the back of the side, the collation of foreign exchange rates, to shatter the stability of trading zv'yazyv, breeds speculative operations. At zyomu zv'yazku Kynststonskyu zadobacheno zaberezhenna elementiv regulyuvannya sistemi kapitalnyh spivvidnoshen zavdyaki zdіysnennuu vidpovidnih operatsiy on the currency market.
Слід ураховувати також, що в режимеі безпосередніх співвідношень ("плавання") functціонують валюти лише провідних країн - USA, Japan, Nimeccini, Canada, Great Britain, France. The increase in the currencies of the rest of the world, the zakrema is economically weak, and brought to the international rozraunkovyh oditnyk abo the currencies. So, before the American dollar, currencies close to 40 kraisn, the French franc - 13, to the SDR - currency 8 krayn.
Економічні показники провідних країн світу it is induced at tab. 2.
Table 2
Economist displays of the IMF member states in 1994
Krayina | GDP, billions of dollars. |
Export, billions of dollars. |
Currency reserves, billion SDRs |
USA |
6649.8 |
512.6 |
28.2 |
Japan |
4590,0 |
397.0 |
78.9 |
Nimecina |
2046.0 |
429.7 |
49.5 |
France |
1328.5 |
235.9 |
16.1 |
Great Britain |
1019.5 |
204.9 |
26.4 |
Formulation of the institutional structures and principles of the functioning of the Jamaican currency systems has not been completed. Їх коргують, наповнють новим змістом відповідно до змін у міжнародних економічних відносинах.
One of the special features of the Jamaican currency systems is in the same vein, it was rooted in the principles of centrist centrism, the abolition of monetary "pluralism", the combo of interdependence at the borders of the regional systems of local (regional) currency structures. Pidporyadkovochis zagalnim principles, IMO viznachayutsya IMF, regionalnyi korotnіi structurii vodnochas rozvivayutsya і na vlasnih funktsionalnykh ambush.
The european currency system , which is perishable in the first few years, is the result of a waterwatch by one of the most important technical tools of the European integration. Vona has passed through the band.
On the first stage of the exchange of land, the landscapes of the Zahidniye Europé region were folded on the backyard basis. On підставі цих ugod zdіysnyuvayasya vzasmne regulyuvannya plazhinyh balance sheets, bezgotivkovi rozraunki, obovvjazkovyi zalik vzaimnih vimog і zobov'zan ', пільгове кредитування. So, the simplification of 1947-1950 pp. Boule laid ponad 400 currency-klіringovyh ugod, on the yak came maje dvі tretyni vnutrishnyoevropeyskogo tovaroobminu.
We set in, the prevailing stage of foreign currency invoices was the function of 1950-1958 rr. The European Payments Union (ЄPS), which was rooted in the bagatelined claying base. Цей союз об'єднував 17 країн Західної Європи. Roshraunki yogo mezhah zdіysnyuvayasya for допомогою мовної грошинвої одниці - епуніта, яка за золотим вмістом прирівнювалась до 1 дол. Tsya Odednitsa became the prototype of the european currency exchange.
Pіпписання in 1957 р. Romskoї ugodi about utovorennya Європейської Економічної Співдружності (ЄЕС) зачаткувало the offensive stage at rozvitku foreign currency відносин. 31 січня 1959 р. Почав функціонувати Європейський валюний союз (ЄВС), у якому продовжували співробітництво усі 17 країн, що came in before the colossal ЄПС. Zgodom zі structuriki ЄВС виокремився Currency union ukraine - uchasnits Спільного ринку. The program of the law of the whole union of the boule is rooted in a special comission, yaku ocholuvav colstion premier-minist Luxemburg P. Werner. Після прийняття 1971 р. Цієї програми Радою Міністрів ЄВС of designations the document dіstav name "Plan of Verne-ra", realizatsiya yakogo small important znachenie znachennu at rozvitku is not deprived європейських, but thе svіtvіih currency відносин.
The new stage of the european monetary integration in the transformation of the European currency union with the european currency system.
The essence of the proclamation of the proclamations proclaimed the realization of the proposals for the head of the Comission of the European Union (ЄС) J. Delors, who was seized from 1989. Rado ЄC distali name "Plan of Delors . " Він perebachav waltz transformatsiyu Єvropeyskoy currency system in the european currency union - not just gliboku khirvodnu integratsіyu, and utoporonya spilnogo for kraine - members of the European Central Bank and vice versa in the national pennies oditnits odnoi currency of spivovaristva.
An important subordination on the shlyah realizatsii "Plan Delors" became pidisannya in the lyutomu 1992 p. In Maastrichti (Niederlandi) Maastrichtsky Cape, yaka designated the scientific and legal foundation for planting the plant.
Ugodoyu okreslo osnovlenno peredumovi utovorennya ЄВС : здійснення країнами ЄС повної немеженоено конвертованості національних валют, повної лібералізації руху капіталів, інтеграції bankівських та інших фінансових ринків, жорсткої фіксації (без бы-яких радичних предпощень) Currency exchange rates.
The main stages of the establishment of the WS are known.
The main feature of the first stage, which ended on the ear of the year 1994, was the ratification of the Maastrichtian territory by all-krajinami-participants; Пона лібералізація у межах ЄС міграції капіталу; Здійснення системи заходів, спрямованих на наближення tempів інфляції до рівня країн, які мають найсприятливіші для цього показники; Shortage of budget deficit.
On another stage, during the spring of 1994, it was decided to create the main organization of the vikonavchy structure. Tse etap looked at the outgoing to the complete completion of the process of becoming ЄВС. On the other side of the stage, it was necessary to formulate a system of central banks for the visas of the Federal Reserve System of the United States - "Evrofed". Її functіії полягали у посиленні координації грошово-кредитної політики, здійсненні control over rozvitkom sistemi ЕКЮ.
Perekhіd to the third stage of the formation ЄВС згідно з Maastrichtskoyu to be buried in the step of the real zbylzhennya kraїn-uchasnits for a complex of singing shows, and for the sake:
• Enflation can intervene riven, which is існує у трьох країнах-members з найстабільнішими цінами (щонайбільше на 1,5%);
• the rozmіr budget deficit is not guilty of overhauling 3% of the gross domestic product (GDP) of the country;
• riven the interest rates for loans in advance, can intermittently increase the number of tax-deductible points in the rates ЄС шонайбільше by 2%;
• the collation of exchange rates of national currencies (for devaluation devaluation in the case of two rocks) is allowed in the interventions, for ЄС (± 2,25).
The third stage of the ЄВС міг стппочатися вже 1 січня 1997 р. For the purpose of pre-signing the necessary economic convergence (досягнення певних критеріїв) як мінімум сімома країнами-членов. On the contrary, the rewind is automatically automated 1 June 1999.
Participants ЄВС became країни, економіка яких відповідає зазначеним критеріям. Reshta kraїn, scho not priedennali up to ЄVS at the moment yogo zaprjannya, mozhut zrobiti tse nislya perevyrki for convergentsiyu (Table 3).
Table 3
Criteria for convergence for the European Monetary Union, 1996 p.
Krayina | Norm інфляції |
Interest rate |
Deficit to the budget |
Kvota zaborgovostnosti |
Critical Corrections |
3.8 (1.5) * |
10.0 |
- 3.0 |
60.0 |
Belgium |
2.5 (1.9) |
8.5 |
- 4.2 (- 4.5) |
134.0 (134.5) |
Nimecina |
2.8 (2.2) |
7.5 |
- 1.7 (-3.1) |
58.0 (59.2) |
Data |
3.0 |
10.5 |
- 2.5 (- 2.0) |
84.0 (73.5) |
Фінляндія |
3.0 (1.7) |
11.5 |
- 3.3 |
88.0 |
France |
2.0 |
8.5 |
- 4.2 (-5.0) |
54.0 (51.5) |
Gretsia |
8.0 |
15.5 |
- 10.1 |
120.0 |
Great Britain |
3.5 |
10.0 |
- 3.0 |
55.0 |
Ірландія |
3.5 (2.6) |
10.0 |
- 2.0 (- 2.5) |
83.0 (86.0) |
Італія |
5.0 |
13.5 |
- 8.0 |
126.0 |
Luxembourg |
2.5 (2.2) |
8.5 |
1.0 (1.5) |
8.0 (5.0) |
Niederlandi |
2.5 (2.1) |
8.0 |
3.0 (3.0) |
80.0 (78.5) |
Austria |
2.5 (2.4) |
7.5 |
- 4.5 (- 5.5) |
67.0 (67.5) |
Portugal |
4,5 |
10.5 |
- 5.5 |
83.0 |
Shvetsia |
3.0 |
10.5 |
- 9.5 |
115.0 |
Expansion |
4,5 |
11.5 |
- 5.2 |
70.0 |
* In the arms - vikonannya kriteriїv from 1995 p.
Більшість країн ЄС мали змогу виконати критерії стабільності грошей та ставки процентов. Як свідчать дані tab. 3, Німеччина, Франція, Австрія, країни Бенілюкс і Данія найближче підійшли до виконання маастрихтських критеріїв. In інших країнах ЄС, for виняток predictions for the Great Britain, parametres сутєво відхиляються від встановленийх at Maastricht.
The third stage is the European Central Bank (ECB). For the currencies of the kraine - members ЄВС it is fixed фіксований the rate yak odnієї to іnshої, so і to євро, який не підлягає перегляду.
Проте запровадження з 1 січня 1999 р. Novosti zagalnoevropeyskoy groshovoi odinnitsi europe gave birth to a bagato nepohruzum. Napriklad, vidbulasya rizka, nichim not obvgruntovana devalvatsiya european currencies that American dollar. І хоча у готівковому вигляді євро з'явиться лише through two rock (yogi left vikoristovuyot tilki at bezgotіvkovyh rozraunkkah), proizvazhenzhenya euro has quickened the lines of banking operations, changed vitrati to convert currencies і zdeshevalo bankівські послуги. Tse vigidno nasampered klієntam.
Shcho before the European currencies, then he did not zagrozu, the main was the gas of the reformers in the grosgovy system Є Є пи пи -. Exchange rates for євро розпочнеться 1 січня 2002 р. І trivatime 6 міс., Але конвертувати безготівкові кошти в євро mozhna vzhe syogodni, prichomu absolutely безкоштовно.
At the kursi of the American dollar and the brand of the brand, it is possible to inflate the psychology of the Gromadyans, but all the innovations, especially in the sphere of economy.
Отже, аналіз інтеграційних процесів у областиі валюних відносин країн ЄС svidchit pro їh bagatospectnost і trivalіst u chasі. The currency union was established for the sake of completing the full-scale complex of the fringe economy, integration of the territory of the Crimea, Rimskyu please. Urauuvannya chygo fact of the principle of meaning for viznachennya mozhnostey і shlyahіv vzemodії Ukraіnі z functionalnyhnymi structures ЄVS. Undistinguishably, the fundamentals of peredvorennya not tilki on rivnі suto currency, and th zagalom at sistemy zagalnoekonomichnyh vidosin.
ЄEuropean currency union means a fundamental change in the currency exchange systems. Із провадженням євро зможе утворитися друга провідна міжнародна валюта. For umov її стабільності American Dolar, scho panuє on svitovomu currency rinku, matim seryoznogo rival.
Controlling food
1. Roshrauvannya obmіnogo currency exchange rate national paperovih groschen at period dії gold standard.
2. Split gold standard for the development of international trade vedosin.
3. Істотні обмеження системи gold standard.
4. Rozrahuvannya obmіnogo currency exchange rate in period gold-standard standard.
5. The basic position of the Bretton Woods system.
6. The primary principle of the Jamaican currency system.
Test of evil for self-control
1. Етипи еволюції валютної системи:
A) gold standard (1867 rivers, Paris);
B) gold standard (1922, Genoa);
C) gold and gold standard (1944, Bretton Woods);
D) Jamaican currency system (1976 p., Kingston);
Д) усі відповіді правильні;
E) the right things, c), d).
2. Retailers with pennies and credit systems rozvineny kraine at the XX century. Include:
A) until 1914 p. - gold standard;
B) 1922-1930. - gold-plated gold standard;
C) currency blocks (1931-1939).
D) gold and gold standard (1944-1976 rubles);
E) Jamaican currency system (since 1976);
Е) усі відповіді правильні;
Є) the right ones і Відповіді а), б), в), д).
3. Stadії інтеграції у грошово-крединій сферыі under the ЄВС:
A) mitniy, ekonomichny and the exchange of currencies;
B) Banking associations, economical and currency unions;
C) kliringovy, mitniy and the exchange of currencies;
D) вроvorinok, klіringoviy, mitniy, ekonomichny and that of the currency unions.
4. The credit of the international credit and the credit-credit policy:
А) зв'язок із зовнішньою торгівлею;
B) the regularity of the economical zrostania of the zagal river of vibrobitvita;
C) the dissolution of the economy;
Г) рівень зайнятості;
Д) забезпечення стабільності цін;
Е) усі відповіді правильні;
)) The right ones і see відповіді б), г), д).
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