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26 relations: Black Wednesday, Central bank, Cornering the market, Currency, Currency crisis, Currency transaction tax, Economics, European Exchange Rate Mechanism, European Union, Financial transaction tax, Fixed exchange-rate system, Floating exchange rate, Foreign exchange market, Foreign-exchange reserves, George Soros, Hong Kong dollar, Paul Krugman, Pound sterling, Short (finance), Spahn tax, Speculation, Stephen Salant, Tobin tax, United States dollar, War chest, 1997 Asian financial crisis.
Black Wednesday
Black Wednesday occurred in the United Kingdom on 16 September 1992, when John Major's Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM.
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Central bank
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.
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Cornering the market
In finance, cornering the market consists of obtaining sufficient control of a particular stock, commodity, or other asset in an attempt to manipulate the market price.
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Currency
A currency (from curraunt, "in circulation", from currens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.
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Currency crisis
A currency crisis is a situation in which serious doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate.
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Currency transaction tax
A currency transaction tax is a tax placed on the use of currency for various types of transactions.
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Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services.
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European Exchange Rate Mechanism
The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 March 1979, as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single currency, the euro, which took place on 1 January 1999.
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European Union
The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.
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Financial transaction tax
A financial transaction tax is a levy on a specific type of financial transaction for a particular purpose.
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Fixed exchange-rate system
A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold.
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Floating exchange rate
A floating exchange rate (also called a fluctuating or flexible exchange rate) is a type of exchange-rate regime in which a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms.
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Foreign exchange market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies.
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Foreign-exchange reserves
Foreign-exchange reserves (also called forex reserves or FX reserves) is money or other assets held by a central bank or other monetary authority so that it can pay if need be its liabilities, such as the currency issued by the central bank, as well as the various bank reserves deposited with the central bank by the government and other financial institutions.
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George Soros
George Soros, Hon (Soros György,; born György Schwartz; August 12, 1930) is a Hungarian-American investor, business magnate, philanthropist, political activist and author.
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Hong Kong dollar
The Hong Kong dollar (sign: HK$; code: HKD) is the official currency of Hong Kong.
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Paul Krugman
Paul Robin Krugman (born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.
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Pound sterling
The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as Sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha.
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Short (finance)
In finance, a short sale (also known as a short, shorting, or going short) is the sale of an asset (securities or other financial instrument) that the seller does not own.
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Spahn tax
A Spahn tax is a type of currency transaction tax that is meant to be used for the purpose of controlling exchange-rate volatility.
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Speculation
Speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable at a future date.
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Stephen Salant
Stephen W. Salant (born c. 1945) is an economist who has done extensive research in applied microeconomics (mostly in the fields of natural resources and industrial organization).
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Tobin tax
A Tobin tax, suggested by Nobel Memorial Prize in Economic Sciences Laureate economist James Tobin, was originally defined as a tax on all spot conversions of one currency into another.
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United States dollar
The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution since 1792.
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War chest
A war chest is a metaphor for any collection of tools or money intended to be used in a challenging or dangerous situation.
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1997 Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.
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References
[1] https://en.wikipedia.org/wiki/Speculative_attack
