Sterling crisis may refer to:
Leonard James Callaghan, Baron Callaghan of Cardiff,, commonly known as Jim Callaghan, was a British politician who served as Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980. Callaghan is the only person to have held all four Great Offices of State, having served as Chancellor of the Exchequer from 1964 to 1967, Home Secretary from 1967 to 1970 and Foreign Secretary from 1974 to 1976. He was a Member of Parliament (MP) from 1945 to 1987.
Black Wednesday occurred on 16 September 1992 when the UK Government was forced to withdraw sterling from the European Exchange Rate Mechanism (ERM), following a failed attempt to keep its exchange rate above the lower limit required for the ERM participation. At that time, the United Kingdom held the Presidency of the Council of the European Union.
The Hong Kong dollar is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.
The Belize dollar is the official currency in Belize. It is normally abbreviated with the dollar sign $, or alternatively BZ$ to distinguish it from other dollar-denominated currencies.
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a revaluation. A monetary authority maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate.
The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.
Australia suffered badly during the period of the Great Depression of the 1930s. The Depression began with the Wall Street Crash of 1929 and rapidly spread worldwide. As in other nations, Australia suffered years of high unemployment, poverty, low profits, deflation, plunging incomes, and lost opportunities for economic growth and personal advancement.
The history of the rupee traces back to ancient Indian subcontinent. The mention of rūpya by Pāṇini is seemingly the earliest reference in a text about coins. The term in Indian subcontinent was used for referring to a coin.
The sterling area was a group of countries that either pegged their currencies to sterling, or actually used sterling as their own currency.
The dollar was the currency of the colony of Newfoundland and, later, the Dominion of Newfoundland, from 1865 until 1949, when Newfoundland became a province of Canada. It was subdivided into 100 cents.
The pound was the currency of Bermuda until 1970. It was equivalent to sterling, alongside which it circulated, and was similarly divided into 20 shillings each of 12 pence. Bermuda decimalised in 1970, replacing the pound with the Bermudian dollar at a rate of $1 = 8s.4d., equal to the US dollar.
The 2008 Latvian financial crisis, which stemmed from the global financial crisis of 2008–2009, was a major economic and political crisis in Latvia. The crisis was generated when an easy credit market burst, resulting in an unemployment crisis, along with the bankruptcy of many companies. Since 2010, economic activity has recovered and Latvia's economic growth rate was the fastest among the EU member states in the first three quarters of 2012.
The gold bloc were seven countries led by France that stuck to the gold standard monetary policy during the Great Depression, even though many other countries abandoned it. In addition to France, the gold bloc included Belgium, Luxembourg, the Netherlands, Italy, Poland, and Switzerland.
Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies. As the exchange rate of a country's currency falls, exports become more competitive in other countries, and imports into the country become more and more expensive. Both effects benefit the domestic industry, and thus employment, which receives a boost in demand from both domestic and foreign markets. However, the price increases for import goods are unpopular as they harm citizens' purchasing power; and when all countries adopt a similar strategy, it can lead to a general decline in international trade, harming all countries.
Internal devaluation is an economic and social policy option whose aim is to restore the international competitiveness of some country mainly by reducing its labour costs – either wages or the indirect costs of employers. Sometimes internal devaluation is considered as alternative to 'standard' external devaluation when nominal exchange rates are fixed, although social implications and speed of economic recovery can significantly differ between the two options. While proponents usually blame fiscal profligacy or loss of competitiveness as the reason for a need to devalue internally, critics oftentimes view macroeconomic imbalances and the absence of a fiscal transfer mechanism within a currency union as culprits.
In the United Kingdom, the green pound was the common name for an exchange rate that was used to calculate the value of financial support within the European Union's Common Agricultural Policy until 1999.
The Euro Currency Index (EUR_I) represents the arithmetic ratio of four major currencies against the Euro: the American dollar, British sterling, the Japanese yen and the Swiss franc. All ratios are expressed in units of currency per Euro. The index was launched in 2004 by the exchange portal Stooq.com. Underlying are 100 points on 4 January 1971. Before the introduction of the European single currency on 1 January 1999 an exchange rate of 1 euro = DM 1.95583 was calculated.
The 1967 Penang Hartal riot happened on November 24, 1967 in response to the devaluation of the Malayan dollar against the British pound sterling and the newly established Malaysian dollar.
The devaluation of sterling in 1949 was a major currency crisis in the United Kingdom that led to a 30.5% devaluation of sterling from $4.04 per pound to $2.80. Although the devaluation was made in the United Kingdom, over 19 countries had currencies pegged to sterling and also devalued.
The 1967 sterling devaluation was a devaluation of sterling from $2.80 to $2.40 per pound on 18 November 1967. It ended a long sterling crisis that had started in 1964 with the election of Labour in the 1964 United Kingdom general election, but originated in the balance of payments crises of the preceding Conservative government.