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Showing posts with label currency. Show all posts
Showing posts with label currency. Show all posts

Monday, January 31, 2011

Palestinians intend to create their own currency this year

BETHLEHEM (Ma'an) -- The Palestine Monetary Authority will in the coming months set the framework for issuing a new currency, a Palestinian Authority official said Saturday.  
“This year will be one of deciding on the monetary regime for the Palestinian state,” Ramallah Gov. Jihad Al-Wazir told Bloomberg news.   
Before the Palestine Pound can be issued, a fully independent central bank must be established and the financial system needs to be strong enough to maintain its own currency, Al-Wazir was quoted as saying.  
“Dollarisation is one option, as well as a fixed-exchange peg or an exchange-control regime,” he said.
“From a pure economic perspective if you ask us, considering the structure of trade, a peg to the shekel is the most obvious choice, but that is a political issue,” he noted, according to the report.  
“We want to make sure, and I am confident we will, that once we cross the line into statehood the Palestinian economy and institutions that have been developed will be able to insure that this will be a robust economy.”  
The Palestine Pound has not been used since 1948, the year Israel was established.

Monday, December 27, 2010

Canadians no longer to have "money to burn" in 2011, it'll be "money to melt"

QMI News Agency reports that in late 2011, The Bank of Canada will be switching from cotton/paper to plastic-based money.

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