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13 Cards in this Set
- Front
- Back
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appreciate
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to increase in value, especially referring to foreign currency
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balance of payment
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a record of payments that one country makes to and receives from all other foreign countries
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depreciate
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to decrease in value, especially referring to foreign currency
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devalue
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a lowering of the agreed upon value of a country's money, in a system of fixed exchange rates
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euro
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currency of the European Monetary Union introduced in January 1999
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European Monetary System (EMS)
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a quasi fixed exchange rate system amont several European countries established in 1979
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European Monetary Union
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the formal union of European countries to form a common market for goods and services
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fixed exchange rate
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an international financial system in which rates of exchange between the values of different countries' currencies are maintained at agreed upon levels
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floating exchange rate
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an international financial system in which rates of exchange between the values of different countries' currencies fluctuate according to supply and demand in the marketplace
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foreign exchange rate
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the value of a unit of one nation's money in terms of another nation's money
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international monetary fund (IMF)
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an international organization set up in 1944 to supervise exchange rates and to promote orderly international financial conditions
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international reserve
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reserves held by one country usually in the form of gold or in the money of another country
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managed floating
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the international financial system currently in use, in which major nations intervene to influence foreign exchange rates by buying and selling currencies
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