Convertibility and System of Paper Money
Numizmatikai Kozlony CII-CIII, No. 1, pp. 83-88, 2004
7 Pages Posted: 11 Sep 2008
Date Written: September, 10 2008
The paper discusses the phenomenon of modern convertibility in paper currency system. Unlike the period of metal (mint) value and traditional convertibility, convertibility today has different aspects and dimensions. Furthermore, it is regulated by the International Monetary Fund, but it depends also on the recognition in bilateral and multilateral relations between states. A proclamation of convertibility and tying this to the name of a national currency (Bosnia and Herzegovina) is another recent precedent.
Note: Downloadable document is in Hungarian.
Keywords: convertibility, paper money, current money
JEL Classification: E5
Suggested Citation: Suggested Citation