代写范文

留学资讯

写作技巧

论文代写专题

服务承诺

资金托管
原创保证
实力保障
24小时客服
使命必达

51Due提供Essay,Paper,Report,Assignment等学科作业的代写与辅导,同时涵盖Personal Statement,转学申请等留学文书代写。

51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标

私人订制你的未来职场 世界名企,高端行业岗位等 在新的起点上实现更高水平的发展

积累工作经验
多元化文化交流
专业实操技能
建立人际资源圈

Research on currency

2020-02-25 来源: 51Due教员组 类别: Essay范文


众所周知,英国是历史上侵略过许多国家的强大首都之一。通过侵略和殖民主义,英国积累了许多财富。在这种情况下,英国的经济在世界上占有一席之地,许多国家开始在经济、文化、金融等领域与英国建立起某种关系。在这种关系中,货币英镑被用于国家间的经济贸易。因此,有必要对货币史进行研究。首先是了解英镑历史。

 

As is known to all, Britain was one of the powerful capital countries which had invaded many countries in history. Through invasion and colonialism, Britain accumulated much wealth. Under this condition, its economy took one place in the world and many countries began to build some relationship with Britain in the field of economy, culture, finance and so on. Among the relationship, the currency pound was used in the economic trade among the countries. So it is necessary to do some research on currency history. The first step is to learn about pound history.

Pound was published by Bank of England in the year 1694 which was the currency of England. Its auxiliary currency was shilling and penny. At first, 1 pound was equal to 20 shillings. And 1 shilling was equal to 12 pennies. On 15th February 1971, a new currency system was built. The auxiliary currency was changed into new penny. 1 pound was equal to 100 new pennies. England adopted gold currency standard system in the year 1821. Then pound became the standard currency of England. 1 pound contained 7.32238 grams gold. When the First World War broke out in the year 1914, the English government abolished gold currency standard system. Under this condition, gold coin was banned to circulate in the economic market and gold exchange was banned as well. On the 13th May 1925, England started to carry out gold piece currency standard system. However, it was abolished due to the world economy depression on the 21st September 1931. Then pound became paper currency which could not be exchanged. But considering the need of foreign exchange, England ruled that 1 pound contained 3.58134 grams gold. (Feavearyear, 19-42) Up to the middle of 20 century, pound was always the world payment and reserve currency. After the First World War, the currency domination of pound started to lose. Dollar became the world currency instead of pound. During the Second World War, England carried out serious foreign exchange rules and set 1 pound was equal to 4.03 dollars. On the 15th July 1947, England announced pound could be exchanged freely. Due to much loss in the foreign currency, pound was depreciated by 30.5 percentages and 1 pound was equal to 2.80 dollars. On the 18th November 1967, pound was depreciated again and 1 pound only contained 2.13281 grams gold. On the day 15th August 1971, dollar adopted float exchange rate. Pound started to exchange with dollar with fixed gold containment. On the 18th December in the same year, dollar was depreciated and 1 pound was equal to 2.6643 dollars. When it was up to the day 19th March 1973, the 8 western European countries established cooperated float exchange group. However, England did not participated in it and continued to adopt sole float exchange rate. In this situation, the places using pound decreased and many countries and places adopted dollar as the main world currency. On the day 8th October 1990, pound became one of the European currency system and its exchange rate to other currencies was about 6 percentages. But England announced pound separated from the European currency system on the day 16th September in 1992. At that time, dollar had been used in the world. But pound became discarded.

After talking about pound, let us throw our sights on dollar. When it comes to the dollar internationalism, America should thanked to the First World War, which did not break out in America. At that time, many people lost confidence for the European economy and they became to pay attention to America by investment. America did not suffer from the world war, so its economy developed fast and the potential economic market attracted many investors from other countries. The same situation happened in the Second Word War, America did not suffer from the war and got lots of wealth from the war. This accelerated its currency circulation in the international trades. Then America took the place of England. Through the “Rent Pill” from 1941 to 1945, America provided many products and service whose value was about 47 billion dollars for its allied countries. (Nussbaum, 3) Then much gold circulated to America which made dollar act as the world currency. Up till now, dollar also plays an important role in the international economic market.

The paper has talked two currencies pound and dollar above. Besides, we should learn some concepts in the currency. Among the concepts, “monetary union” should be known by the readers. Monetary union refers to that one country uses the same currency with its close country including the unified currency (such as European currency) and dollar. (De Grauwe, 3) Dollar makes one country lose the profits from casting currency. What is worse, it has one country lose the sovereign rights of currency. It is one seriously extreme way in the fixed exchange rate. Monetary union was built in order to prevent currency crisis. (Bayoumi, 256) The positive effect brought by monetary union can be analyzed from three parts. Firstly, it can accelerate the pace of economy and improve the economic structure. Secondly, it can prevent the currency crisis by building the same funds. Thirdly, it can reduce investment risks from hot money. However, every coin has two sides, so does monetary union. It has some negative effects on its member countries. Firstly, it will make the member countries lose currency rules. Many countries will be controlled by the unified funds. Secondly, due to the same currency, if one country break out currency crisis, the other countries will be affected immediately.  

To sum up, some powerful countries should promote its currency circulation in the international trades just like RenMinBi. Under that condition, the currency risk will be lower. 

51due为留学生提供最好的作业代写服务,亲们可以进入主页了解和获取更多代写范文提供作业代写服务,详情可以咨询我们的客服QQ:800020041。

上一篇:Will RenMinBi become currency 下一篇:classic style