Currency board arrangements may be coming back into fashion. What recent successes have countries had with currency boards and in what circumstances are they most likely to be effective? Currency ...

Bulgaria has gotten the all-clear from two key European Union institutions to adopt the euro in January 2026. The bloc’s ...

The currency board was installed on July 1 ... This would be in exchange for an unclear and potentially unstable arrangement that Bulgaria cannot control and cannot opt-out of.

Currency Board Arrangements A monetary regime based on an explicit legislative commitment to exchange domestic currency for a specified foreign currency at a fixed exchange rate, combined with ...

Like currency board arrangements, the Convertibility System maintained a fixed exchange rate between the peso and its anchor currency, the U.S. dollar. That nominal anchor crushed hyperinflation ...

This Economic Letter is based on a presentation Mark Spiegel prepared for a panel on “Optimal Currency Arrangements for Emerging Market Economies: The Experience of Latin America and Asia,” organized ...

Under a currency-board arrangement, there are no capital controls. The domestic currency, which is issued by a currency board, is backed 100 percent with anchor currency reserves, so the local ...

At its center is a currency crisis. It erupted in October 2019, when the “financial engineering” scheme employed by the Banque du Liban, the Lebanese central bank, finally collapsed.

When the future of Hong Kong was hanging in the balance during Sino-British handover talks, the city’s currency lost around a third of its value against the dollar in just 12 months. The Hong ...

Singapore had a smaller gross domestic (GDP) than Rhodesia in 1966. In 1966, it opted for a currency board arrangement instead of a central bank. Under this arrangement, the economy grew from a ...