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Saturday, January 22, 2011

IB Glossary

Eurobonds
A bond placed in countries other that the one in whose currency the bond is denominated.
Eurocurrency
Any currency banked outside of its country of origin.
European Monetary System (EMS)
EU system designed to create a zone of monetary stability in Europe, control inflation, and coordinate exchange rate policies of EU countries.
European Union (EU)
An economic group of 15 European nations: Austria, Belgium, Great Britain, Denmark, Finland, France, Germany, Greece, the Netherlands, Ireland, Italy, Luxembourg, Portugal, Spain and Sweden.
Exchange rate
The rate at which one currency is converted into another.