Since the beginning of the Syrian uprising in mid-March 2011, the value of the Syrian pound (SYP) has nearly constantly fallen, while the difference between its official rate and black market rate has continually increased. In the last months of 2019, the Lebanese financial crisis played a role ...
This paper first documents the foreign currency exposures of Switzerland in the 2002-2012 period. We find that the large scale of the Swiss international balance sheet means that movements in the Swiss Franc generate large cross-border valuation effects. Second, we examine the Swiss Franc holdin...
We investigate whether the role of national currencies as international reserves was fundamentally altered by the shift from fixed to flexible exchange rates (what we call the “upheaval hypothesis”), a view that gained adherents following the collapse of the Bretton Woods System. We extend stand...
The paper analyses different aspects of the role that the euro is currently playing in sub- Saharan Africa (SSA) and in the CFA franc zone of West and Central Africa. As similar contributions on the role of the euro in other global regions, the paper served as background information for the anal...
Dans l’optique d’élargir sa gamme d’instruments de financement – principalement les prêts libellés en monnaies fortes et les interventions en capital, la FEMIP étudie la possibilité de fournir des prêts en monnaie nationale. De tels prêts constitueraient un bon outil pour le financement direct d...
In December 2005, the Council adapted the provisions governing the introduction and the use of the euro in order to update them for the future enlargement of the euro area. Building on the provisions governing the initial establishment of the euro area, the revised rules now allow for two new ch...
Le 1er janvier 1999. l'UEM (l'Union économique et monétaire) est entrée en vigueur dans onze États membres et l'euro est devenu la monnaie nationale de chacun d'eux. Pendant une période transitoire allant jusqu'au 31 décembre 2001, et bien que les anciennes devises nationales aient cessé d'exist...
Την 1η Ιανουαρίου 1999, ημερομηνία έναρξης της ΟΝΕ (Οικονομική και Νομισματική Ένωση), το ευρώ έγινε το εθνικό νόμισμα για καθένα από τα έντεκα κράτη μέλη που συμμετέχουν σ' αυτή. Καθ' όλη τη διάρκεια της μεταβατικής περιόδου ως την 31η Δεκεμβρίου 2001, και μολονότι τα παλιά εθνικά νομίσματα δεν...
