Most slowly depreciated their currencies, rather than adopt the floating currencies advocated today ( or the fixed-currency regime used by Argentina ).
32.
Similar scenes played out in other major cities as the country made the wrenching shift from a fixed to a free-floating currency.
33.
Inflation was low during the markka's independent existence as a floating currency ( 1992 1999 ) : 1.3 % annually on average.
34.
The talks will center on technical issues related to laying the groundwork for China's shift to a floating currency, the Treasury Department said.
35.
The market found relief in the Argentine peso's surprising move into stronger territory in its first two days as a freely floating currency.
36.
But many Argentines fear the value of the free-floating currency, backed by little more than a pledge of state support, will quickly depreciate.
37.
Brazil's free-floating currency, the real, last year temporarily lost more than 30 percent of its value, partly driven down by worries about Argentina.
38.
What we are trying to do is have this dialogue and show support as they move " to a freely floating currency system.
39.
When it does, the peg often overvalues the local currency relative to what its market value would be if it were a floating currency.
40.
Russia's fall makes clear that capitalism _ floating currencies, open borders and free markets _ cannot exist without institutions to support it, Garten said.
