Floating Currencies, SDR's and Gold Further Legal Developments

This paper examines legal developments in area of floating currencies, special drawing rights, and gold in the IMF. It highlights that the breakdown of the par value system of the original Articles of the IMF and the failure of the IMF's efforts to substitute a comparable system based on centra...

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Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1977, 1977
Series:Pamphlet Series
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:This paper examines legal developments in area of floating currencies, special drawing rights, and gold in the IMF. It highlights that the breakdown of the par value system of the original Articles of the IMF and the failure of the IMF's efforts to substitute a comparable system based on central rates are producing widespread effects in international and domestic law. The floating of sterling has been an impetus to the reversal of the ancient rule that English courts can give monetary judgments only in sterling. It has also influenced the choice of the exchange rate on the day when payment is actually made
Physical Description:116 p.
ISBN:9781451958195
1451958196