query: the brunei national dollar ( bnd ) is pegged at the same value to which currency

pos: Brunei dollar As such, the Brunei dollar is accepted in Singapore as "customary tender"; likewise, the Singapore dollar is accepted for payments in Brunei. Early currency in Brunei included cowrie shells. Brunei is also famous for its bronze teapots, which were used as currency in barter trade along the coast of northern Borneo. Brunei issued tin coins denominated in pitis in AH1285 (AD1868). These were followed by a one cent coin in AH1304 (AD1888). This cent was one hundredth of a Straits dollar. As a protectorate of Britain in the early 20th century, Brunei used the Straits dollar from 1906, the Malayan

pos: Brunei dollar Brunei dollar The Brunei dollar (Malay: "ringgit Brunei", currency code: "BND"), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 "sen" (Malay) or "cents" (English). The Brunei dollar is issued by the Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam). The name is the same in Malaysian ringgit, but the MYR has its own name. Under a Currency Interchangeability Agreement in 1967, the Brunei dollar is interchangeable with the Singapore dollar at par.

pos: Malaysian ringgit sterling area and its demise in 1972. The new currency was not affected but earlier notes of the Malaya and British Borneo dollar were still pegged at 8.57 dollars per 1 pound; consequently these notes were reduced in value to 85 cents per dollar. Despite the emergence of new currencies in Malaysia, Singapore and Brunei, the Interchangeability Agreement which the three countries adhered to as original members of the currency union meant the Malaysian dollar was exchangeable at par with the Singapore dollar and Brunei dollar. This ended on 8 May 1973, when the Malaysian government withdrew from the agreement.

pos: Singapore issues exist with Malaysia and Indonesia, and both have banned the sale of marine sand to Singapore over disputes about Singapore's land reclamation. Some previous disputes, such as the Pedra Branca dispute, have been resolved by the International Court of Justice. Piracy in the Strait of Malacca has been a cause of concern for all three countries. Close economic ties exist with Brunei, and the two share a pegged currency value, through a Currency Interchangeability Agreement between the two countries which makes both Brunei dollar and Singapore dollar banknotes and coins legal tender in either country. The first diplomatic contact

pos: Singapore dollar Currency, Singapore, on 7 April 1967 and issued its first coins and notes. Nevertheless, the Singapore dollar was exchangeable at par with the Malaysian ringgit until 1973, and interchangeability with the Brunei dollar is still maintained. Initially, the Singapore dollar was pegged to the pound sterling at a rate of two shillings and four pence to the dollar, or S$60 = £7, working out to 8.57 dollars to the pound sterling. This peg lasted until the demise of the Sterling Area due to the Nixon Shock in the early 1970s, after which the Singaporean dollar was linked to the US

pos: Malaya and British Borneo dollar agreement between those governments and the State of Brunei for the establishment of a Board of Commissioners of Currency to be the sole issuing authority in British Malaya and British Borneo. This agreement became effective on 1 January 1952. The Board consisted of five members: On 12 June 1967, the currency union came to an end and Malaysia, Singapore and Brunei each began issuing their own currencies: the Malaysian dollar, Singapore dollar and Brunei dollar. The currencies of the three countries were interchangeable at par value under the Interchangeability Agreement until 8 May 1973 when the Malaysian government decided to

pos: Brunei–Singapore relations Brunei the same year. Several memoranda of understanding have been signed and there is a Currency Interchangeability Agreement between the two countries which makes both Brunei dollar and Singapore dollar banknotes and coins legal tender in either country, though Brunei Dollar coins are often not accepted in Singapore shops. The Singapore Armed Forces (SAF) has trained many Bruneian soldiers for a period of time. In return Brunei allows Singaporean troops to use their jungles for training. Brunei and Singapore began Exercise Airguard in 1994, which involves joint training between the Royal Brunei Air Force and the Republic of Singapore Air

pos: Singapore dollar Singapore dollar The Singapore dollar (sign: S$; code: SGD) is the official currency of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore issues the banknotes and coins of the Singapore dollar. As of 2016, the Singapore dollar is the twelfth-most traded currency in the world by value. Apart from its use in Singapore, the Singapore dollar is also accepted as customary tender in Brunei according to the Currency Interchangeability Agreement between the Monetary Authority of Singapore and the

pos: Brunei dollar dollar from 1939 and the Malaya and British Borneo dollar from 1953 until 1967, when it began issuing its own currency. The Brunei dollar replaced the Malaya and British Borneo dollar in 1967 after the formation of Malaysia and the independence of Singapore. Until 23 June 1973, the Malaysian ringgit was exchangeable at par with the Singapore dollar and Brunei dollar. The Monetary Authority of Singapore and the Brunei Currency and Monetary Board (now the Authoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam) still maintain the exchangeability of their two currencies. The dollar is accepted as "customary tender" in

pos: Singapore dollar both the Monetary Authority of Brunei Darussalam and the Monetary Authority of Singapore issued $50 polymer banknotes to commemorate that event. Singapore dollar The Singapore dollar (sign: S$; code: SGD) is the official currency of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore issues the banknotes and coins of the Singapore dollar. As of 2016, the Singapore dollar is the twelfth-most traded currency in the world by value. Apart from its use in Singapore, the Singapore dollar is

pos: Legal tender May 1985. However, no-one is obliged to accept more than 25 coins of each denomination (of which currently 1, 5, 10 and 20 NOK denominations are in common circulation). Singapore and Brunei have a Currency Interchangeability Agreement since 12 June 1967. Under the agreement, Singapore dollar and Brunei dollar are exchangeable at par without charge in both countries. As such, the currency of one country is accepted in the other country as "customary tender". The Swiss franc is the only legal tender in Switzerland. Any payment consisting of up to 100 Swiss coins is legal tender; banknotes are legal tender

pos: Foreign relations of Brunei Begawan. Relations between the two countries has been established since 2 October 1991. Brunei maintains an embassy in Moscow, the Russian embassy in Brunei was established in March 2010. The official relations between the two countries has been established since 1984. Brunei and Singapore agreed to have Singapore train its armed forces with Brunei. Like Brunei, Singapore is a full member of the Commonwealth of Nations. Brunei and Singapore have a currency agreement that the currencies of both countries can be used in either of the two countries. The Brunei dollar and the Singapore dollar are maintained at par. In

neg: Brunei dollar $100 note of this series has won a gold medal award for its security features in the 22nd National Print Award in Australia in May 2005. The S$10,000 and B$10,000 notes are the world's most valuable banknotes, worth USD 8000 as of September 2014 (that are officially in circulation). They are worth eight times as much as the next most valuable, the 1000 Swiss franc note (USD 1063). the ten dollar note all colours and value are worth 1000,000 Brunei dollar The Brunei dollar (Malay: "ringgit Brunei", currency code: "BND"), has been the currency of the Sultanate of Brunei since

neg: Federated Malay States was established in 1906 and headed by the Judicial Commissioner, in whom supreme judicial authority was vested. The title of Judicial Commissioner was changed to Chief Judge in 1925. From the earlier period of the federation the currency in used was the Straits dollar issued by the Board of Commissioners of Currency. As the currency depreciated over time, it was pegged at two shillings four sterling pence in 1906. In 1939, the British government introduced a new currency, Malayan dollar ("ringgit" in Malay) for used in Malaya and Brunei replacing the Straits dollar at par value. It had the smallest

neg: Belize dollar Belize dollar The Belize dollar is the official currency in Belize (currency code "BZD"). It is normally abbreviated with the dollar sign "$", or alternatively "BZ$" to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. The official value is pegged at 2 BZ$ = 1 US$. The first dollars to circulate in British Honduras were Spanish dollars, some of which were counterstamped with the monogram of a crowned –G-R– (Latin<nowiki>:</nowiki> Georgius Rex, "".) They circulated between 1765 and 1825 at a value of 6 shillings 8 pence. i.e. one third of a pound sterling. In 1825,

neg: Transnistrian ruble rubles. The new notes have the same themes but a new design. The currency is "de facto" pegged to the United States dollar. The central bank determines each work day whether or not it is appropriate to devalue the currency against the U.S. dollar. As of 5 June 2018 On 11 February 2009 the exchange rate was set to 9 rubles per dollar. It was changed to 9.40 rubles on 5 March 2010, 9.80 on 24 September 2010, and 10.20 on 14 December 2010. By 2013, the value of the ruble had dropped to 11.10 rubles per dollar. This was

neg: Cayman Islands dollar dollar has been pegged to the United States dollar at 1 Cayman Islands dollar = 1.2 U.S. dollars since 1 April 1974, when the Currency Law of 1974 was enacted. In 1983, the 1974 law was repealed and replaced by the Currency Law Revised, which itself was replaced in 1997 by section 22 of the Monetary Authority Law. Under section 22 of the 2013 revision of the Monetary Authority Law, the value of the Cayman dollar in United States Dollars is determined by the Governor. In 1972, coins in denominations of 1¢, 5¢, 10¢ and 25¢ were introduced. The 1¢

neg: Economy of New Zealand a 20% devaluation of the New Zealand dollar, which led to the 1984 New Zealand constitutional crisis due to Muldoon's refusal to devalue, worsening the currency crisis further. As a result, the dollar was floated on 4 March 1985, allowing for the value of the dollar to change with the market. Prior to the dollar being floated, the dollar was pegged against a basket of currencies. Financial markets were deregulated and tariffs on imported goods lowered and phased out. At the same time subsidies to many industries, notably agriculture, were removed or significantly reduced. Income and company taxes were reduced

neg: Liberian dollar Liberian dollar The dollar (currency code "LRD") has been the currency of Liberia since 1943. It was also the country's currency between 1847 and 1907. It is normally abbreviated with the dollar sign $, or alternatively L$ or LD$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. The first Liberian dollar was issued in 1847. It was pegged to the US dollar at par and circulated alongside the US dollar until 1907, when Liberia adopted the British West African pound, which was pegged to sterling. In 1847, copper 1 and 2 cents coins were issued

neg: National Center for Foreign Commerce currency pegged to a higher rate against the dollar than the market value. Since 2003, this has created a scarcity of foreign currency, as confidence in the bolivar declined, and foreign exchange, especially the U.S. dollar, was in greater demand. According to the Bank for International Settlements, "The Central Bank of Venezuela (BCV) fixed a monthly allocation of foreign currency to be administered by CADIVI, purchases foreign currency from residents, and sells foreign currency to the public and private sectors subject to approval from CADIVI." Under Venezuelan law PDVSA must sell its foreign exchange to the Central Bank, thereby providing

neg: 1973 oil crisis abandoned the Gold Exchange Standard whereby the value of the dollar had been pegged to the price of gold and all other currencies were pegged to the dollar, whose value was left to "float" (rise and fall according to market demand). Shortly thereafter, Britain followed, floating the pound sterling. The other industrialized nations followed suit with their respective currencies. Anticipating that currency values would fluctuate unpredictably for a time, the industrialized nations increased their reserves (by expanding their money supplies) in amounts far greater than before. The result was a depreciation of the dollar and other industrialized nations' currencies. Because

neg: Fixed exchange-rate system the currency it is pegged to, in which case the value of that currency will fall. Another, less used means of maintaining a fixed exchange rate is by simply making it illegal to trade currency at any other rate. This is difficult to enforce and often leads to a black market in foreign currency. Nonetheless, some countries are highly successful at using this method due to government monopolies over all money conversion. This was the method employed by the Chinese government to maintain a currency peg or tightly banded float against the US dollar. China buys an average of one

neg: Coins of the Brunei dollar Coins of the Brunei dollar The coins of the Brunei dollar are part of the physical form of current Brunei currency, the Brunei dollar. They have changed through time along with Brunei itself. A British protectorate from 1888 until 1983, it is currently an independent member of the Commonwealth of Nations. The decision was taken to adopt a native Bruneian currency called the Brunei dollar (or "ringgit Brunei" in Malay), which is divided into 100 cents (or "sen" in Malay). The portrait of the then Sultan, Omar Ali Saifuddin III (ruled 1950–1967), is depicted on the obverse. The reverse of

neg: Brunei pitis Brunei pitis The pitis was a currency of Brunei last issued in 1868 which circulated into the 20th century. It is also referred to as the "picil" by Antonio Pigafetta and some variants of it were referred to as the "kue" and the "paku" (). It was later replaced by the Straits dollar in Brunei, which is valued at 4000 pitis or 800 paku and at par with the Spanish dollar. Before the introduction of coins to Brunei, Cowrie shells were used as bartering currency in purchasing small items. Brunei is also famous for its bronze teapots, which were used

neg: Swiss franc in which they agreed to value their national currencies to a standard of 4.5 grams of silver or 0.290322 grams of gold. Even after the monetary union faded away in the 1920s and officially ended in 1927, the Swiss franc remained on that standard until 1936, when it suffered its sole devaluation, on 27 September during the Great Depression. The currency was devalued by 30% following the devaluations of the British pound, U.S. dollar and French franc. In 1945, Switzerland joined the Bretton Woods system and pegged the franc to the US dollar at a rate of $1 = 4.30521

neg: Thai baht baht in 1923. During World War II, the baht was fixed at a value of one Japanese yen. From 1956 until 1973, the baht was pegged to the U.S. dollar at an exchange rate of 20.8 baht = one dollar and at 20 baht = 1 dollar until 1978. A strengthening US economy caused Thailand to re-peg its currency at 25 to the dollar from 1984 until 2 July 1997, when the country was affected by the 1997 Asian financial crisis. The baht was floated and halved in value, reaching its lowest rate of 56 to the dollar in January

neg: Monetary Authority of Brunei Darussalam Monetary Authority of Brunei Darussalam The Monetary Authority of Brunei Darussalam (, abbreviated as "") is the central bank of Brunei. It was established under the Autoriti Monetari Brunei Darussalam Order, 2010, and began operations on January 1, 2011. It succeeded the Brunei Currency and Monetary Board. The Brunei Currency Board was established on June 12, 1967, and the introduction of the Brunei Dollar as the new currency of Brunei in replacing the Malaya and British Borneo dollar after the Currency Union Agreement between Malaysia, Singapore and Brunei was terminated and all three countries issued their own currencies which continued

neg: Vanuatu vatu 10,000 vatu notes. Local residents sometimes refer to a notional dollar, equal to 100 vatu, without specifying which country's currency they have in mind. This stems from the period 1966–1973, when the New Hebrides franc was pegged to the Australian dollar at a rate of 100 francs = 1 dollar. Although no relationship currently exists, it simplifies thinking in the larger numbers which a low-value unit causes. For example, the Government's budget of 6,000,000,000VT is in fact only about US$50,000,000. The concept of this notional "dollar" was supported by the size of the former 100 vatu coin: at 23 mm,

neg: International use of the U.S. dollar adopted managed floats against a basket of currencies. Kuwait did likewise on May 20, 2007, and Syria did likewise in July 2007. However, after three years of slow appreciation, the Chinese yuan has been "de facto" re-pegged to the dollar since July 2008 at a value of ¥6.83/USD; although no official announcement had been made, the yuan has remained around that value within a narrow band since then, similar to the Hong Kong dollar. Several countries use a crawling peg model, wherein currency is devalued at a fixed rate relative to the dollar. For example, the Nicaraguan córdoba is devalued

neg: Straits dollar Malay States and Brunei. Legislation was enacted by the Straits Settlements Currency Ordinance (No. 23) of 1938, and ratified by the various states during 1939 and the Malayan dollar became legal tender in the Straits Settlements. Straits dollar The Straits dollar was the currency of the Straits Settlements from 1898 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Kingdom of Sarawak, Brunei, and British North Borneo. In the early nineteenth century, the most common currency used in the East Indies was the Spanish dollar, including issues both from Spain

neg: Gibraltar pound Gibraltar pound The Gibraltar pound (currency sign: £; banking code: GIP) is the currency of Gibraltar. It is pegged to – and exchangeable with – the British pound sterling at par value. Gibraltar pound coins are minted notes printed by the Government of Gibraltar. Until 1872, the currency situation in Gibraltar was complicated, with a system based on the real being employed which encompassed British, Spanish and Gibraltarian coins. From 1825, the real (actually the Spanish "real de plata") was tied to the pound at the rate of 1 Spanish dollar to 4 shillings 4 pence (equivalent to 21.67 pence

neg: Kiribati dollar Kiribati dollar The dollar is the currency of Kiribati. It is pegged at 1:1 ratio to the Australian dollar. Coins were issued in 1979 and circulate alongside banknotes and coins of the Australian dollar. Before independence, Australian coins were used in Kiribati ( then called the Gilbert Islands ) from 1966 until 1979. Previous to Australia's introduction of the dollar, the Australian pound was chiefly used throughout the islands, though Gilbert and Ellice Islands banknotes issued in the 1940s were also in use and were redeemable for Pound Sterling at face value. During Japanese occupation of the islands during World

neg: Haitian gourde franc did not last but, in 1912, the gourde was pegged to the US dollar at a value of 5 gourdes to the US dollar. Although this peg was abandoned in 1989 and the currency now floats, because of the old link, five gourdes is often referred to as a "Haitian dollar". Likewise, 5 centimes is a "Haitian penny". Indeed, in many places, prices are given not in gourdes, but rather in "Haitian dollars", which must be multiplied by five to convert to gourdes. The 1881 issue of coins consisted of denominations of 1, 2, 10, 20, and 50 centimes

neg: 1997 Asian financial crisis been pegged in 1994 to the U.S. dollar at a ratio of 8.3 RMB to the dollar. Having largely kept itself above the fray throughout 1997–1998, there was heavy speculation in the Western press that China would soon be forced to devalue its currency to protect the competitiveness of its exports vis-a-vis those of the ASEAN nations, whose exports became cheaper relative to China's. However, the RMB's non-convertibility protected its value from currency speculators, and the decision was made to maintain the peg of the currency, thereby improving the country's standing within Asia. The currency peg was partly scrapped in

neg: Khaleeji (currency) due to a dinar being used during the time of the life of Mohammed. Since Islamic economic jurisprudence prohibits interest, or 'riba,' there was speculation that the future GCC currency would be backed by gold. However, senior figures in the GCC administration have stated that the currency may be linked to the US Dollar or would tie-up with a basket of currencies in which the US Dollar would have a lion's share. The currencies of Saudi Arabia, the UAE, Qatar, Oman, and Bahrain are pegged to the US Dollar. Kuwait's Dinar is pegged to a basket of currencies including the

neg: Korean currency its introduction, it was pegged to the United States dollar at 1 dollar = 60 hwan, but toward the end of its life it was devaluated at 1 dollar = 1250 hwan. In 1962, the won was reintroduced at the rate of 1 won = 10 hwan. The 10 and 50 hwan coins were kept in circulation until March 21, 1975. After the devaluation of the hwan, the won was reintroduced as South Korea's currency on June 10, 1962. At the time the South Korean currency was still pegged to the US dollar. It stayed so until December 24, 1997,

neg: Economy of Malaysia due to the 1997 Asian financial crisis in which the central bank imposed capital controls on the currency, due to speculative short-selling of the ringgit. As a part of series of capital controls, the currency was pegged between September 1998 to 21 July 2005 at MYR 3.80 to the dollar after the value of the ringgit dropped from MYR 2.50 per USD to, at one point, MYR 4.80 per USD. In recent years, Bank Negara Malaysia has begun to relax certain rules to the capital controls although the currency itself is still not traded internationally yet. According to the Bank

neg: Fear of floating when defending the currency could be very costly and government does not have sufficient international foreign reserve to fight with speculators. That is why large exchange rate changes are often observed despite of "fear of floating." One typical example is Thailand in 1998 Asian financial crisis. The baht was pegged at 25 to the US dollar before the crisis. During the crisis, the slowdown in export growth caused Thailand to abandon the dollar peg and devalue its currency in order to promote exports. The baht devalued rapidly and lost more than half of its value. In January 1998, the baht

neg: Singapore dollar Autoriti Monetari Brunei Darussalam (Monetary Authority of Brunei Darussalam). Likewise, the Brunei dollar is also customarily accepted in Singapore. Between 1845 and 1939, Singapore used the Straits dollar. This was replaced by the Malayan dollar, and, from 1953, the Malaya and British Borneo dollar, which were issued by the Board of Commissioners of Currency, Malaya and British Borneo. Singapore continued to use the common currency upon joining Malaysia in 1963, but only two years after Singapore's expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down. Singapore established the Board of Commissioners of

neg: Dutch guilder or 7.78 Euros in December 2017. Overall, the guilder remained a very stable currency and was also the third highest-valued currency unit in Europe in the interwar period (after the British Pound Sterling and the Irish pound, which, at this time, were pegged to each other at par). Following the German occupation, on 10 May 1940, the guilder was pegged to the Reichsmark at a rate of 1 guilder = 1.5 Reichsmark. This rate was reduced to 1.327 on 17 July of the same year. The liberating Allied forces set an exchange rate of 2.652 guilders = 1 U.S. dollar,

neg: Brunei dollar in 1887. It was made from copper. With the introduction of the Straits Settlements currency, the previously used coins were taken out of circulation. They were, however still used with certain exchange rates. The Straits dollar was introduced in Brunei in 1906. It was later replaced by the Malayan dollar which was introduced to British colonies and Brunei in 1939. It replaced the Straits dollar at par with a 1:1 exchange rate. The Malayan dollar was issued by the Board of Commissioners of Currency in Malaya. The board stopped issuing the Malayan dollar during the Japanese invasion during World War

neg: Australian dollar circulation from 20 September 2017, and a new $50 note has been released starting from 18 October 2018. In 1966, when the dollar was introduced, the international currency relationships were maintained under the Bretton Woods system, a fixed exchange rate system using a U.S. dollar standard. The Australian dollar, however, was effectively pegged to the British pound at an equivalent value of approximately 1 gram of gold. The highest valuation of the Australian dollar relative to the U.S. dollar was during the period of the peg to the U.S. dollar. On 9 September 1973, the peg was adjusted to US$1.4875,

neg: International use of the U.S. dollar also been linked since 1983 at HK$7.8/USD, and pataca of Macau, pegged to Hong Kong dollar at MOP1.03/HKD, indirectly linked to the U.S. dollar at roughly MOP8/USD. Several oil-producing Arab countries on the Persian Gulf, including Saudi Arabia, peg their currencies to the dollar, since the dollar is the currency used in the international oil trade. The People's Republic of China's renminbi was informally and controversially pegged to the dollar in the mid-1990s at ¥ 8.28/USD. Likewise, Malaysia pegged its ringgit at RM3.8/USD in September 1998, after the financial crisis. On July 21, 2005, both countries removed their pegs and

neg: Mauritian dollar were struck for Mauritius, the British West Indies, and Sierra Leone. The dollar was the currency of Mauritius until 1877. Initially, it was made up of Spanish dollars, with paper money and new coins being issued in the 1820s (see Anchor coinage). The dollar was initially pegged at a value of 2 Indian rupees, then at 4 shillings sterling. In 1822, coins for 25 and 50 sous were issued due to the continued use of the French colonial livre. The dollar circulated alongside sterling and the Indian rupee. An unofficial exchange rate of 2 rupees to the dollar was used,

neg: Japanese government-issued dollar in Malaya and Borneo Malaya, North Borneo, Sarawak and Brunei. The new currency in Malaya and Singapore were issued with the same value as the Malayan dollar, and first entered circulation in 1942. As with other currencies issued by Japan in occupied territories, local residents were forced to adopt this type of currency, while existing coins were allowed until a shortage of coins required the Japanese administration release issued notes for cents. Although new coins bearing the name "Malaysia" and dated under the Japanese calendar were planned by the Osaka Mint for the region, these never made it past the concept stage and only

neg: Turkish lira the Democrat Party after World War II. After periods of the lira pegged to the British pound and the French franc, a peg of 2.8 Turkish lira = 1 U.S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 Turkish lira = 1 dollar. From 1970, a series of hard, then soft pegs to the dollar operated as the value of the Turkish lira began to fall. The "Guinness Book of Records" ranked the Turkish lira as the world's least valuable currency in 1995 and 1996, and again from 1999 to 2004. The

neg: Fixed exchange-rate system As such, when the reference value rises or falls, it then follows that the value(s) of any currencies pegged to it will also rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy to achieve macroeconomic stability. In a fixed exchange-rate system, a country’s central

neg: BerkShares Co.. BerkShares are pegged with an exchange rate to the US dollar, but the Schumacher Center has discussed the possibility of pegging its value to a basket of local goods in order to insulate the local economy against volatility in the US economy. BerkShares are a local currency designed and issued for the Berkshire region of Massachusetts. According to the BerkShares website, residents purchase BerkShares at 95 cents (USD) per BerkShare from one of sixteen branches of four local participating banks. Businesses then accept BerkShares at full dollar value, differentiating the business as one supporting the BerkShares values of local

neg: History of the Canadian dollar Canada might give its dollar exactly the same value as the United States dollar, but in the meantime, the pre-Confederation values for currency were maintained. The dollars circulating in Ontario, Quebec and New Brunswick continued to circulate at the same value, while the Nova Scotia dollars continued to circulate in Nova Scotia at their higher, pre-Confederation value. This situation continued for three more years, until Parliament passed the "Uniform Currency Act". It provided that Nova Scotia would now use the same dollar as the rest of Canada, based on the pre-Confederation dollar. The value of the dollar continued to be

neg: South Korean won (1945–53) won was pegged to the Japanese yen at a rate of "1 won = 1 yen". In October of the same year the anchor currency was changed to the US dollar at a rate of "15 won = 1 dollar". Toward the end of the Korean War the won was devalued at "6000 won = 1 dollar". Following that the hwan was introduced as the new currency at a rate of "1 hwan = 100 won". The 1 jeon coin was the only coin in circulation in South Korea at the time. It was not issued by the Bank of

neg: International use of the U.S. dollar at an approximate 2:1 ratio. The Netherlands Antillean guilder (and its successor the Caribbean guilder) and the Aruban florin are pegged to the dollar at a fixed rate of 1:1.79. The East Caribbean dollar is pegged to the dollar at a fixed rate of 2.7:1, and is used by all of the countries and territories of the OECS other than the British Virgin Islands. In Lebanon, one dollar is equal to 1500 Lebanese pound, and is used interchangeably with local currency as de facto legal tender. The exchange rate between the Hong Kong dollar and the United States dollar has

neg: Australian dollar the decision had been a "terrible mistake" and it would need to be revisited. On 18 September Holt advised Parliament that the name was to be the "dollar", of 100 cents. The Australian pound, introduced in 1910 and officially distinct in value from the pound sterling since devaluation in 1931, was replaced by the dollar on 14 February 1966. The rate of conversion for the new decimal currency was two dollars per Australian pound, or ten Australian shillings per dollar. The exchange rate was pegged to the pound sterling at a rate of $1 = 8 shillings ($2.50 = UK

neg: Inflation of other methods and policies have been proposed and used to control inflation. Under a fixed exchange rate currency regime, a country's currency is tied in value to another single currency or to a basket of other currencies (or sometimes to another measure of value, such as gold). A fixed exchange rate is usually used to stabilize the value of a currency, vis-a-vis the currency it is pegged to. It can also be used as a means to control inflation. However, as the value of the reference currency rises and falls, so does the currency pegged to it. This essentially

neg: Currency sign (typography) same code point for different national currency symbols can be problematic in international communication. If, for example, an amount of £100 is written in an e-mail or on a website, and the software does not make sure that the same character set is used at both ends, it could be interpreted e.g. as ¥100, which is a much lower value than £100. Likely, this sign was intended to mark the position of the national currency symbol into the national variants of ASCII (7-bit, 95 printable characters available), where a specific national body was reluctant to accept the dollar sign ($)

neg: Straits dollar Straits dollar The Straits dollar was the currency of the Straits Settlements from 1898 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Kingdom of Sarawak, Brunei, and British North Borneo. In the early nineteenth century, the most common currency used in the East Indies was the Spanish dollar, including issues both from Spain and from the new world Spanish colonies, most significantly Mexico. Locally issued coinages included the Kelantan and Trengganu keping, and the Penang dollar. In 1837, the Indian rupee was made the sole official currency in the

neg: World currency pound sterling. The transition between pound sterling and United States dollar and its impact for central banks was described recently. In the period following the Bretton Woods Conference of 1944, exchange rates around the world were pegged to the United States dollar, which could be exchanged for a fixed amount of gold. This reinforced the dominance of the US dollar as a global currency. Since the collapse of the fixed exchange rate regime and the gold standard and the institution of floating exchange rates following the Smithsonian Agreement in 1971, most currencies around the world have no longer been pegged

neg: Djiboutian franc tokens were issued between 1919 and 1922. In 1948, the first coins were issued specifically for use in Djibouti, in the name of the "Côte Française des Somalis". In 1949, an independent Djiboutian franc came into being when the local currency was pegged to the US dollar at a rate of 214.392 francs = 1 dollar. This was the value which the French franc had had under the Bretton Woods system until a few months before. Consequently, the Djiboutian economy was not affected by the further devaluations of the French franc. In 1952, the Public Treasury took over the production

neg: Christopher Ironside coins, indicated in brackets above). The Brunei Currency Board was established in 1967 and introduced the Brunei dollar as the new currency of Brunei, replacing the Malaya and British Borneo dollar after the Currency Union Agreement between Malaysia, Singapore and Brunei was terminated and all three countries issued their own currencies. The Brunei dollar was divided into 100 cents (or sen in Malay), with a portrait of Sultan Omar Ali Saifuddien III on the obverse. The reverses of the coins were designed by Christopher Ironside. Description These coins were struck as: In 1968, the House of Representatives unanimously approved the

neg: Bonaire and the Netherlands. In 2011 the BES Islands replaced their currency, the Netherlands Antillean guilder (: ANG, symbol: ƒ), with the US dollar rather than replacing it with the euro which is used in the European Netherlands. The decision was based primarily on the needs for tourism and trade. Most countries and territories in the Caribbean use the dollar as their currency or have a currency linked to the dollar as legal tender. The guilder has been pegged to the US dollar for decades with an exchange rate of ƒ1.79 = US$1.00. Adopting the dollar put an end to the

neg: Bretton Woods system could exchange dollars for gold. Bretton Woods established a system of payments based on the dollar, which defined all currencies in relation to the dollar, itself convertible into gold, and above all, "as good as gold" for trade. U.S. currency was now effectively the world currency, the standard to which every other currency was pegged. As the world's key currency, most international transactions were denominated in U.S. dollars. The U.S. dollar was the currency with the most purchasing power and it was the only currency that was backed by gold. Additionally, all European nations that had been involved in World

neg: Cuban convertible peso Cuban convertible peso The convertible peso (sometimes given as "CUC$" and informally called a "cuc" or a "chavito") is one of two official currencies in Cuba, the other being the Cuban peso. It has been in limited use since 1994, when its value was pegged 1:1 to the United States dollar. On 8 November 2004, the U.S. dollar ceased to be accepted in Cuban retail outlets and left the convertible peso as the only currency in circulation in many Cuban businesses. Officially exchangeable only within the country, its value was increased to US$1.08 in April 2005, but reverted to US$1.00

neg: Macau the unit of currency is the pataca, which is currently pegged to the Hong Kong dollar at a rate of HK$1 = MOP1.03. The name pataca is a Portuguese word which was applied to the Mexican dollars that were the main circulating coin in the wider region in the second half of the 19th century. In 1894, the pataca was introduced in both Macau and Portuguese Timor as a unit of account for the Mexican dollar and the other silver dollar coins in circulation. However, the pataca was not the official currency when it was first enacted. In 1901, it

neg: Straits dollar pegged at two shillings four pence sterling in 1906. The Straits dollar was replaced at par by the Malayan dollar in 1939. To this day, Brunei and Singapore still use the successor to this unit, but Malaysia broke away in 1973. The first coins issued for the Straits Settlements in 1845 were , and 1 cent denominations in copper. They were issued by the East India Company and did not bear any indication of where they were to be used. A second issue of the same denominations was produced in 1862 by the government of British India. These bore the

neg: History of Chinese currency known as fabi (, pinyin: "fǎbì") or "legal tender". Customs gold units (, pinyin: "guānjīnyuán") were issued by the Central Bank of China to facilitate payment of duties on imported goods. Unlike the national currency which suffered from hyperinflation, the CGUs were pegged to the U.S. dollar at 1 CGU = US$0.40. Unfortunately, the peg was removed in 1935 and the bank allowed CGUs to be released for general use. Already awash with excessive paper currency, the CGUs only added to rampant hyperinflation. After the defeat of Japan in 1945, the Central Bank of China issued a separate currency in

neg: Malaysian ringgit to the US dollar immediately after China's announcement of the end of the renminbi peg to the US dollar. According to Bank Negara, Malaysia allows the ringgit to operate in a managed float against several major currencies. This has resulted in the value of the ringgit rising closer to its perceived market value, although Bank Negara has intervened in financial markets to maintain stability in the trading level of the ringgit, a task made easier by the fact that the ringgit was pegged and has remained non-tradeable outside Malaysia since 1998. Following the end of the currency peg, the ringgit

neg: Telecommunications in Brunei could be better Brunei has fast connection speeds to servers in SEA but speeds are however slow to servers located outside of SEA and Asia. People have cable internet through Telbru and their ftth system actually have somewhat good internet. Brunei's Internet service is monopolized by Telekom Brunei. ADSL speeds were ranging from 512 kbit/s to the maximum speed of 1 Mbit/s through ADSL2+ broadband. 1 Mbit/s was introduced in 2006 and priced at BND$128 per month (Equivalent to Singapore currency). It is known that the Brunei's broadband ranging from 512 kbit/s to 1 Mbit/s is one of the most

neg: Malayan dollar Malayan dollar The Malayan dollar (Malay: ringgit, Jawi: رڠڬيت) was the currency of the British colonies and protectorates in Malaya and Brunei until 1953. It was introduced in 1939, replacing the Straits dollar at par, with 1 dollar = two shillings four pence sterling (60 dollars = 7 pounds). The Malayan dollar was issued by the Board of Commissioners of Currency, Malaya, with a hiatus during the Japanese occupation (1942–1945). The Board of Commissioners of Currency, Malaya, came into being in October 1938 following the Blackett Report which recommended that the sole power of issuing currency for the various Malay

neg: Cook Islands dollar Cook Islands dollar The dollar is the currency of the Cook Islands. The dollar is subdivided into 100 "cents", although some 50 cent coins carry the denomination as "50 "tene"". Until 1967, the New Zealand pound was used on the Cook Islands, when it was replaced by the New Zealand dollar. In 1972, coins were issued specifically for the Cook Islands, with banknotes appearing in 1987. The Cook Islands dollar is pegged at par to the New Zealand dollar. The currency of New Zealand and the Cook Islands circulate concurrently within the country. Coins have been struck on different occasions

neg: Kiribati dollar at first, but 20, 50, and 100 dollars were later sent for use. This continued to be the official currency after the breakup of the joint Gilbert and Ellice colonies and following independence of the Gilberts and annexed territories as Kiribati. The 1 dollar notes circulated alongside a local coin. The 1 and 2 dollar notes were later withdrawn in favour of Kiribati- and Australian-issued coins. Kiribati dollar The dollar is the currency of Kiribati. It is pegged at 1:1 ratio to the Australian dollar. Coins were issued in 1979 and circulate alongside banknotes and coins of the Australian dollar.

neg: Tourism in Brunei Tourism in Brunei Tourism in Brunei is governed by the Ministry of Primary Resources and Tourism, which is planning to diversify Brunei's tourism to include adventure tourism, ecotourism and Islamic tourism. The Brunei dollar is one of strongest currencies in the Association of Southeast Asian Nations (ASEAN) region, a factor discouraging tourists in the region from visiting Brunei. One Brunei dollar is equal to around 9,740 Indonesian rupiah, 2.8 Malaysian ringgit, 32.9 Philippine peso and 25.5 Thai baht. According to some travel agencies, because of Brunei's strong currency tour packages are expensive compared with those of other countries in the

neg: Coins of the Brunei dollar Sultan's title. Brunei became a fully independent member of the Commonwealth of Nations on January 1, 1984. An entirely new portrait depicting the Sultan facing forward was adopted. The title of the Sultan is now given as "SULTAN HAJI HASSANAL BOLKIAH". Coins of the Brunei dollar The coins of the Brunei dollar are part of the physical form of current Brunei currency, the Brunei dollar. They have changed through time along with Brunei itself. A British protectorate from 1888 until 1983, it is currently an independent member of the Commonwealth of Nations. The decision was taken to adopt a native

neg: Alexander Lukashenko of the population (of 6.86 million eligible workers), a decrease from 1995, when unemployment was 2.9% with a working-eligible population of 5.24 million. The per-capita Gross national income rose from US$1,423 in 1993 to US$5,830 at the end of 2011. One major economic issue Lukashenko faced throughout his presidency was the value of the Belarusian ruble. For a time it was pegged to major foreign currencies, such as the euro, US dollar and the Russian ruble in order to maintain the stability of the Belarusian ruble. Yet, the currency has experienced free fall and also several rounds of devaluation. A

neg: Money supply H.K. dollar = 1 U.S. dollar. This was revised to 5.085 H.K. dollar = 1 U.S. dollar in 1973. Between 1974 and 1983 the Hong Kong dollar floated. On 17 October 1983 the currency was pegged at a rate of 7.8 H.K. dollar = 1 U.S. dollar, through the currency board system. As of 18 May 2005, in addition to the lower guaranteed limit, a new upper guaranteed limit was set for the Hong Kong dollar at 7.75 to the American dollar. The lower limit was lowered from 7.80 to 7.85 (by 100 pips per week from 23 May to

neg: Economy of Bulgaria Economic Studies at the Bulgarian Academy of Sciences, the average salary in Bulgaria is only a quarter (1/4) of the average salary in the EU, and should be two times higher when the labour productivity is calculated in the formula. Bulgaria's unit of currency is the lev (pl., leva). In October 2006, the U.S. dollar was worth 1.57 leva. In 1999 the value of the lev was pegged to that of the German Deutschmark, which was replaced by the euro in 2001. Following the Bulgaria's admission to the EU, the lev is scheduled to be replaced by the euro. In

neg: Brazilian real (old) silver 1$200 real coin was set at 415 grains (26.89 grams) of .917 silver. In 1846, a gold standard was established with the "mil réis" set at 822.076 mg gold, a 37.5% debasement from the previous standard. After the establishment of the Republic in 1889, the value of the currency fell, with a peg of 180 mg of gold for the one thousand réis set in 1926. This was abandoned in 1933 when the mil réis was pegged to the U.S. dollar at a rate of 12$500 réis = 1 dollar. A further devaluation occurred in 1939, when it was

neg: Currency band Currency band A currency band is a range of values for the exchange rate for a country’s currency which the country’s central bank acts to keep the exchange rate within. The central bank selects a range, or "band", of values at which to set their currency, and will intervene in the market or return to a fixed exchange rate if the value of their currency shifts outside this band. This allows for some revaluation, but tends to stabilize the currency's value within the band. In this sense, it is a compromise between a fixed (or "pegged") exchange rate and a

neg: Pound sterling began to issue paper money. The pound Scots once had much the same value as the pound sterling, but it suffered far higher devaluation until in the 17th century it was pegged to sterling at a value of 12 pounds Scots = 1 pound sterling. In 1707, the Kingdom of England and the Kingdom of Scotland merged to form the Kingdom of Great Britain. In accordance with the Treaty of Union, the currency of Great Britain was sterling, with the pound Scots soon being replaced by sterling at the pegged value. In 1801, Great Britain and the Kingdom of Ireland

neg: Offshoring This trend later shifted to China, which offered cheap prices through very low wage rates, few workers' rights laws, a fixed currency pegged to the US dollar, (currently fixed to a basket of economies) cheap loans, cheap land, and factories for new companies, few environmental regulations, and huge economies of scale based on cities with populations over a million workers dedicated to producing a single kind of product. However, many companies are reluctant to move high value-added production of leading-edge products to China because of lax enforcement of intellectual property laws. NAFTA has increased the velocity at which physical restructuring

neg: George Blowers country's currency from the British West African pound (pegged to the Pound Sterling) to the Liberian dollar (pegged to the US dollar). The Smithsonian Institution's 1940 National Zoological Park expedition to Monrovia met with Blowers and he presented his household pets, a red forest duiker, a civet cat and a linsang, to them for use as zoo exhibits. British Foreign Office staff writing to Anthony Eden in March 1942 noted that Blowers adhered strictly to the American policy of neutrality, opposing attempts to enforce British control of capital in Liberia. Blowers, who could speak German, was known to have transferred

neg: World currency Currency). Some of the world's currencies are still pegged to the dollar. Some countries, such as Ecuador, El Salvador, and Panama, have gone even further and eliminated their own currency (see dollarization) in favor of the United States dollar. Only two serious challengers to the status of the United States dollar as a world currency have arisen. During the 1980s, the Japanese yen became increasingly used as an international currency, but that usage diminished with the Japanese recession in the 1990s. More recently, the euro has increasingly competed with the United States dollar in international finance. The euro inherited its

neg: Hong Kong dollar September 1945, all military yen notes used in Japanese colonies were declared void by the Japanese Ministry of Finance. In 1967, when sterling was devalued, the dollar's peg to the pound was increased from 1s 3d to 1s d ($14.5455 = £1) although this did not entirely offset the devaluation. In 1972, the Hong Kong dollar was pegged to the U.S. dollar at a rate of HK$5.65 = US$1. This was revised to HK$5.085 = US$1 in 1973. Between 1974 and 1983, the Hong Kong dollar floated. On 17 October 1983, the currency was pegged at a rate of HK$7.8

neg: Economy of Europe value to the euro. In some of these countries, there is a fixed exchange rate between the national currency and the euro and in this case the currency is actually a submultiple of the euro. In other countries, the national currency's value fluctuates within a band (generally 15%) around a set rate. Currencies pegged to the euro include the currencies of Bulgaria, Bosnia and Herzegovina and Cape Verde. Denmark has a foreign exchange band tied to the euro. The CIS is also planning to introduce a single currency among its members. Below is a list of the central banks and

neg: Brunei dollar Singapore according to the Currency Interchangeability Agreement, although it is not legal tender there. Coins were used in Brunei from the 10th century. The Straits dollar was also used in Brunei from 1906. Due to the close ties between China and Brunei, the first type of coins used in Brunei were Chinese coins. This was initially called ‘Pitis’. They were later known as ‘Kue’ when local ‘Pitis’ were introduced. The local ‘Pitis’ coins had ‘Sultanate of Brunei’ stamped in front of the coin and the royal umbrella was imprinted at the back. These were issued from the 16th to the

neg: Eritrean nakfa Eritrean nakfa The nakfa (ISO 4217 code: "ERN") is the currency of Eritrea and was introduced on 8 November 1997 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, site of the first major victory of the Eritrean War of Independence. The nakfa is divided into 100 cents. The nakfa is pegged to the US dollar at a fixed rate of USD$1 = ERN15. Prior to that it was officially pegged at USD$1 = ERN13.50, however black market rates available on the streets typically offered a rate of 32 nakfas per

neg: History of Chinese currency at 1 silver yuan = NT$3. An amendment was passed in 2000 to make the New Taiwan dollar the official legal currency of the Republic of China. The Bank of Taiwan was originally established by the Japanese in 1899 whilst Taiwan was under Japanese administration. The bank issued Taiwanese yen which were pegged to the Japanese yen. After the retrocession of Taiwan to the Republic of China, the new Bank of Taiwan was allowed to continue issuing its own currency. Called the "Taiwan dollar", it replaced the Taiwanese yen at par. This was an attempt by the Kuomintang to prevent

neg: Aruban florin Aruban florin The florin (sign: Afl.; code: AWG) is the currency of Aruba. It is subdivided into 100 cents. The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par. Although the Aruban florin is pegged to the United States dollar at the rate of 1.79 florin per USD, the commonly used street value is at 1.75 florin per USD. In 1986, coins were introduced in denominations of 5, 10, 25 and 50 cents, 1 and florin. Later, the 5 florin banknote was replaced by a square coin and the florin coin was removed from circulation. The 5

neg: British currency in the Middle East the Palestine pound continued to circulate there until 1950. In the Gaza Strip, the Palestine pound circulated until April 1951, when it was replaced by the Egyptian pound, three years after the Egyptian army took control of the territory. At the outbreak of the Second World War, the sterling area was formed as an emergency measure in order to protect the external value of the pound sterling, mainly against the US dollar. All the territories mentioned above joined the sterling area since their respective pounds, dinars, shillings, or rupees were pegged at a fixed value to the pound sterling. The

neg: Fixed exchange-rate system is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike flexible exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of their GDP. A fixed exchange-rate system can also be used to control the behavior of a currency, such as by limiting rates of inflation. However, in doing so, the pegged currency is then controlled by its reference value.

neg: Barbadian dollar dollar in Barbados. The present dollar was created after the establishment of the Central Bank of Barbados (CBB), which was founded by an Act of parliament in May, 1972. The Barbados dollar replaced the East Caribbean dollar at par in 1973. Since 5 July 1975, the Barbados dollar has been pegged to the US dollar at US$1 = Bds$2. Most people in Barbados will accept USD at the fixed rate. Exchanging money at the airport yields however a lower rate (US$1 = Bds$1.98 + a service fee when buying Bds). For a wider outline of the history of currency in

neg: Fixed exchange-rate system Fixed exchange-rate system A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed against either the value of another single currency to a basket of other currencies or to another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate. A fixed exchange rate is typically used to stabilize the value of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the value

neg: New Zealand dollar million new banknotes were printed and 165 million new coins were minted for the changeover. The New Zealand dollar was initially pegged to the US dollar at US$1.43 = NZ$1. This rate changed on 21 November of the same year to US$1.12 = NZ$1 after the devaluation of the British pound (see Bretton Woods system), although New Zealand devalued more than the UK. In 1971 the US devalued its dollar relative to gold, leading New Zealand on 23 December to peg its dollar at US$1.216 with a 4.5% fluctuation range, keeping the same gold value. From 9 July 1973 to

neg: International status and usage of the euro of Malta have been denominated in euros, although the Order's official currency remains the Maltese scudo. The Maltese scudo itself is pegged to the euro and is only recognised as legal tender within the Order. The euro is a major global reserve currency, sharing that status with the US dollar (USD), which continues to be the primary reserve of most commercial and central banks. Since its introduction, the euro has been the second most widely held international reserve currency after the US dollar. The euro inherited this status from the German mark, and since its introduction, it has increased its

neg: Malaya and British Borneo dollar Malaya and British Borneo dollar The Malaya and British Borneo dollar (known as the ringgit in Malay, Jawi: رڠڬيت) was the currency of Malaya, Singapore, Sarawak, North Borneo, Brunei and Riau archipelago from 1953 to 1967 and was the successor of the Malayan dollar and Sarawak dollar, replacing them at par. The currency was issued by the Board of Commissioners of Currency, Malaya and British Borneo. Prior to 1952, the board was known as the Board of Commissioners of Currency, Malaya. The Malaya and British Borneo dollar was used in Malaya after independence in 1957, and in Malaysia after its

neg: Fixed exchange-rate system bank typically uses an open market mechanism and is committed at all times to buy and/or sell its currency at a fixed price in order to maintain its pegged ratio and, hence, the stable value of its currency in relation to the reference to which it is pegged. To maintain a desired exchange rate, the central bank during the devaluation of the domestic money, sells its foreign money in the reserves and buys back the domestic money. This creates an artificial demand for the domestic money, which increases its exchange rate. In case of an undesired appreciation of the domestic

neg: Miri, Malaysia the neighbouring country of Brunei because of a discrepancy in currency exchange rate (100 Brunei dollar to 250 Malaysian ringgit), cheaper items, and a variety of resorts here in Miri for recreational activities. Bintang Plaza and Boulevard Shopping Mall are the two major shopping destinations for Brunei people. As of 2014, Miri visitor movement along Kuala Baram-Kuala Belait checkpoint (Sungai Tujoh, along the Sarawak-Brunei border) reached a total of 2.9 million people in one year. Miri is also an eco-tourism gateway to four national parks and a marine national park. The education sector is another income generator for Miri. Curtin

neg: International use of the U.S. dollar Zimbabwean Bond Coins was put into circulation on 18 December 2014 in 1, 5, 10, and 25 cent denominations. A 50 cent Bond Coin was released in March 2015. These coins are pegged at the same rate as American coins. Some other countries link their currency to U.S. dollar at a fixed exchange rate. The local currencies of Bermuda and the Bahamas can be freely exchanged at a 1:1 ratio for USD. Argentina used a fixed 1:1 exchange rate between the Argentine peso and the U.S. dollar from 1991 until 2002. The currencies of Barbados and Belize are similarly convertible

neg: Bermudian pound area based exchange control laws, hence excluding Bermuda from its sterling area membership privileges. Bermuda responded on 30 June 1972 by amending its own exchange control laws accordingly, such as to impose exchange control restrictions in relation to Bermuda only. At the same time, Bermuda realigned its dollar back to one-to-one with the US dollar and formally pegged it to the US dollar at that rate. As far as United Kingdom law was concerned, Bermuda still remained a member of the overseas sterling area until exchange controls were abolished altogether in 1979. For a history of currency in the British

neg: Renminbi currency value was introduced in October 1949 after the Communists took power on the Chinese mainland and established the People's Republic of China. Since the Chinese economic reforms of 1978, China has become the world's biggest exporter, second largest economy and biggest manufacturer in the world. For most of its early history, the "renminbi" was pegged to the U.S. dollar at ¥2.46 per USD (note: during the 1970s it was revalued until it reached ¥1.50 per USD in 1980). Its value gradually declined as China embarked on a new economic course during Deng Xiaoping's leadership and transformed into a more market-based capitalistic

neg: Paraguayan guaraní Paraguayan guaraní The guaraní (, plural: "guaraníes"; sign: ₲; code: PYG) is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use. The currency sign is . The law creating the guaraní was passed on 5 October 1943, and replaced the peso at a rate of 1 guaraní = 100 pesos. Guaraníes were first issued in 1944. Between 1960 and 1985, the guaraní was pegged to the United States dollar at 126 PYG to US$1. In 1944, aluminum-bronze coins were introduced in denominations of 1, 5, 10,

neg: Exchange-rate regime Exchange-rate regime An exchange-rate regime is the way an authority manages its currency in relation to other currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors, such as economic scale and openness, inflation rate, elasticity of labor market, financial market development, capital mobility and etc. There are two major regime types: "fixed (or pegged) exchange rate" regimes，where the currency is tied to another currency, mostly reserve currencies such as the U.S. dollar or the euro or a basket of currencies; "floating (or flexible) exchange