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Penny-credit systems and foreign countries - Ivanov V.M.

6.2. Features of the development of the currency system

Ля Inflationary currency пов for the long period has become one of the main factors in lowering the exchange rate. They’ve exchanged glances periodically. So, 1 dol. The USA was born in 1945. 15 Onam, 1947 - 50, 1948 p. - 270 us. At the quarter 1949 p. installed ний a single exchange rate: 360 =н = 1 USD. (zberіgavsya until 1971 p.). As a rule, a single exchange rate until the dollar has been reached by piece of currencies, then you have to see the real exchange rate of these currencies, in 60 rocks you can keep the lower rate of exchange, the decrease in the rate of exchange is lower, more.

At zvyazku with the crisis of Dolar, the Japanese detachment was seized from the sickle 1971 p. floating course єni. For example, 1971 p. I’m better at the older period Bulo revaluated, in a fierce 1973 p. carried out by a friend revaluation. In the minds of the crisis of the currency system of the 1970s and 1980s, the Japanese currency rate was swinging.

Recovering from the 70s rock ’course, they’ve moved from 315 заn for dolar from 1971 to 195 долn for 1978 p. At 1979 p. vin dropping to 240 заn for dolar and in the farther buv unstable. Z 1984 p. the course is again based on a shvidko pіdvishchuvatisya - from 252 єn for dolar to 130,2 єni at sichnі 1988 p.

On the first course, they have tried the trials of structurally changing the economy of Japan on an advanced technological basis, the increased competitiveness of Japanese exported goods, and the better stability. It’s also possible to change the course to the United States with the policy of Washington, which is tied to a piece by piece lower exchange rate of the dollar: this way the US administration has expanded the cost of the US export whole.

Revenues from foreign trade outweighed the negative balance behind the main items of the balance of payments. Gold and foreign currency reserves reached 1978. 33 billion dollars

In 80 countries, the competitiveness of Japanese goods was not significantly increased due to the progress in science and technology progress and lower material and labor productivity, and the result of commodity dumping. In addition to this, in the period of gold and foreign currency reserves, it is shvidko zbilshyusya, especially since 1986 p. (in the city of 1987, the stench became 76.2 billion dollars), we will transfer it for the balance of the trade surplus. Suchasna єna є one з of reserve currencies, yak until 1997 p. Bula Nastabilnіshoy in Asia.

In the minds of the piling up of great foreign exchange reserves and currency reserves, there are Japanese reserves and reserves for foreign exchange expansion. Won є the largest lender at svіtі. Yaponіsya forceu зав zvnіshnyoekonomіchnu сп expansion with the envious course of dolar schodo єni. Zdіsnyuєtsya a step forward іntensifіkatsіya structurally awaken economies on the basis of vіkoristannya novіnnіh access to science-and-technology progress.

However, the expansion of Japan to the USA and the territory of Western Europe.

The traditional strategies of the participation of the country in the international cooperation with the “Robiti are more beautiful than those who want to rob goodness” called for the problems of the reporting countries of Japan with foreign countries. We have effectively spoken about the same new stage of development of the international economy and the development of access to Japan. The International Economy has become one of the main minds of the Republic of Moldova for the crisis of 1991-1993 pp.

A significant increase in the presence of the state thanks in the 90s of supra-juvenile rock to the wider participation of Japan in the international economic relations. A part of the country has grown up near the exclusive export, especially in the export capital, she has gone from the middle of the 90s on the first place at the front of the street for the oath of the generous foreign direct investment and the other for the sum of the money.

For example, 90s rock trivia process of formulating and closing new schemes of Japan with foreign countries in financial spheres. The view, reorientation to domestic consumption has made sense for winter export and export capital: export of goods has been repaired, and export of capital has become shorter. The basis of the whole was the more active balance of the current accounts of the balance of payments and the re-creation of Japan on the most profitable investor. Schob short the active balance of $ 11 billion, the Ministry of Transport, for example, praised the program to bring since 1995. The number of Japanese tourists, as a rule for the cordon, up to 10 million.

Roszhanemo rozpodіl Japanese investment for regions . Statistics for the “most popular” region for investment є Pivn America. Great structural benefits are in capital, some are in the Asian region: less is investment, more and more is needed. A part of the investment in Latin America and Africa is more likely to take place, and more expensively, you should not be afraid to invest in Zaіdnu Europe. At 90 years of age, there is direct investment in industrialized regions of the country.

From now on, foreign capital investment in Japan became one of the channels of the transformation of the international community, and they began to establish a new model of economic growth and a higher exchange rate from 1990-1996 pp.

Zhovtnі-listopadі 1997 p. financial-currency and financial crisis shook, yak osopilo bagato Krai Pivdenno-Shіdnoї Azії і Japan. The crisis has arisen in the business capital for the cordon, the znetsnennі national currencies, the low rate of corporate and sovereign greenhouses.

In such a situation, the Bank of Japan has the initiative to conduct large-scale foreign currency interventions, so that they can be converted into foreign exchange reserves of foreign exchange reserves and the currency will be converted to foreign currency. At 1997 p. истna vistoyala, ale її stabіlіzatsіya valued 79 billion dollars. (є by 3% devaluation).

Із січень 1998 р. the course of "catastrophic pada". її factuality devalvatsіya stvoryuє real zagrozu collapse orієntovanoї on eksport Economy kraїn Pіvdenno-Shіdnoї Azії and takozh (i tse Main) zagrozu masovogo naplivu yaponskih tovarіv US Rinko i Zahіdnoї Єvropi (yak vіdomo, devalvatsіya natsіonalnoї currency vigіdna for eksporterіv, oskіlki Veda to zdeshevlennya , and from then on, to the competitive competitiveness of the commodities on the individual markets). Zim itself is explained in the course of the United States Government. Japan credit for $ 100 billion. for the renewal of the course.

The oversight of GDP in 1998 having gone up by 2.8%, the oversight of commercial fishing was 5%, the unemployment rate was growing up to 4.4%. The economic situation in the country, especially in the financial sector, is accelerating. Trivaє bankіvska crisis. Bank of Japan went into currency interventions, but didn’t go down against the dollar. Currency and financial crisis 1997-1998 pp. has become a proponent of the cyclical crisis of supraobility.