GMS 724 Chapter Notes - Chapter 9: Purchasing Power Parity, Fisher Hypothesis, Market Trend
31 Mar 2015
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Document Summary
29 countries signed imf agreement (now 187 as of 2011) Promote international monetary cooperation and exchange rate stability. Provide resources to help members in balance-of-payments difficulties or to assist with poverty reductions for each currency initially quoted in terms of gold and u. s. dollar. The bretton woods agreement established a par value, or benchmark value. The imf quota the sum of the total assessment to each country becomes a pool of. The imf today money that the imf can draw on to lend to other countries. The imf lends money to countries to help ease balance-of-payments difficulties. The sdr (special drawing rights) is an international reserve asset given to each country. Currencies making up the sdr basket are the u. s. dollar, the euro, the japanese yen, and. Played an important role in the greek financial market: greece adopted the euro.
