Exchange Rates (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
ShowHide
Practise the questions
10 questions from this quiz
What type of exchange rate system does Australia currently operate?
What type of exchange rate system does Australia currently operate?
Floating exchange rate
When did Australia adopt its current floating exchange rate system?
When did Australia adopt its current floating exchange rate system?
December 1983
Who determines the exchange rate under a fixed exchange rate system?
Who determines the exchange rate under a fixed exchange rate system?
Government or central bank
What must a central bank hold to maintain a fixed exchange rate?
What must a central bank hold to maintain a fixed exchange rate?
Foreign currencies and/or gold reserves
At what time did the RBA set the daily peg under the managed flexible peg system?
At what time did the RBA set the daily peg under the managed flexible peg system?
9:00 am
When did Australia use the managed flexible peg system?
When did Australia use the managed flexible peg system?
November 1976 to December 1983
What does devaluation mean in a fixed exchange rate system?
What does devaluation mean in a fixed exchange rate system?
Government lowers the exchange rate
What is the trading band width in China's crawling peg system?
What is the trading band width in China's crawling peg system?
2% in either direction
How much did China's foreign reserves grow from the early 2000s?
How much did China's foreign reserves grow from the early 2000s?
From 150 billion to over 3.2 trillion
What was China's fixed exchange rate from 1994 to 2005?
What was China's fixed exchange rate from 1994 to 2005?
8.27 yuan per US dollar