gold-exchange standard


gold-exchange standard
/gohld"iks chaynj'/
a monetary system in one country in which currency is maintained at a par with that of another country that is on the gold standard.

* * *

▪ monetary system
      monetary system under which a nation's currency may be converted into bills of exchange drawn on a country whose currency is convertible into gold at a stable rate of exchange. A nation on the gold-exchange standard is thus able to keep its currency at parity with gold without having to maintain as large a gold reserve as is required under the gold standard.

      The gold-exchange standard came into prominence after World War I because of an inadequate supply of gold for reserve purposes. British sterling and the U.S. dollar have been the most widely recognized reserve currencies. The requirement of a fixed rate of exchange for the reserve currency has the effect of limiting the freedom of the reserve-currency country's monetary policy to solve domestic economic problems. The use of gold reserves is now limited almost exclusively to the settlement of international transactions, on rare occasions.

* * *


Universalium. 2010.

Look at other dictionaries:

  • Gold exchange standard — Le Gold Exchange Standard, étalon de change or en français, est une organisation du système international des changes qui limite la conversion en or des monnaies pour la compensation des soldes de balances de paiement. Il tente d instaurer un… …   Wikipédia en Français

  • Gold exchange standard — ● Gold exchange standard Expression anglaise signifiant étalon de change or …   Encyclopédie Universelle

  • Gold Exchange Standard — Le Gold Exchange Standard, étalon de change or en français, est une organisation du système international des changes qui limite la conversion en or des monnaies pour la compensation des soldes de balances de paiement. Il tente d instaurer un… …   Wikipédia en Français

  • gold-exchange standard — noun : a monetary standard under which gold does not circulate domestically and international debts are settled primarily in currency of nations that maintain a gold and especially a gold bullion standard * * * /gohld iks chaynj / a monetary… …   Useful english dictionary

  • gold-exchange standard — /ˈgoʊld əkstʃeɪndʒ ˌstændəd/ (say gohld uhkschaynj .standuhd) noun a monetary system whose monetary unit is kept at a fixed relation with that of a country on the gold standard by dealings in foreign exchange by the central authority, the money… …   Australian English dictionary

  • Gold exchange standard — A system of fixing exchange rates adopted in the Bretton Woods agreement. It involved the U.S. pegging the dollar to gold and other countries pegging their currencies to the dollar. The New York Times Financial Glossary …   Financial and business terms

  • gold exchange standard — A fixed exchange rate system adopted in the Bretton Woods agreement . It required the U.S. to peg the dollar to gold and other countries to peg their currencies to the dollar. Bloomberg Financial Dictionary …   Financial and business terms

  • Gold Bullion Standard — Le Gold Bullion Standard est une particularité du Gold Exchange Standard, système monétaire international mis en place au lendemain de la Première Guerre mondiale pour succéder au Gold Standard. Le terme Bullion signifie en français lingot. Avec… …   Wikipédia en Français

  • gold bullion standard — noun : a gold standard under which the coinage and circulation of gold is usually prohibited but the shipment of gold in international transactions is permitted and a gold bullion reserve is maintained as a support for the currency * * * a gold… …   Useful english dictionary

  • gold bullion standard — a gold standard in which gold is not coined but may be purchased at a fixed price for foreign exchange. [1930 35] * * * …   Universalium


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.