Quotes & Sayings About Exchange Rates

He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less that the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state's means of exchange. — Robert A. Heinlein

It is impossible indeed not to look with considerable uneasiness at the type of the "modern economist" as he developed after Keynes' revolutionary book, whom Keynes himself regarded with alarm at the end of his days. It is the type of man who is obsessed by one thing, i.e. "effective demand," which he thinks must be kept up at whatever cost,
while he forgets the working of the mechanism of prices, wages, interest and exchange rates. — Wilhelm Ropke

The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange rate through a currency board, but no central bank, or a central bank plus truly floating exchange rates; either of those is a tenable arrangement. But a pegged exchange rate with a central bank is a recipe for trouble. — Milton Friedman

We believe in fair exchange rates and Japan doesn't practice that. They have massive U.S. dollar reserves, and they use them to intervene regularly. — Rick Wagoner

We have a thousand machines for making war but none for making peace. We have computers and iPhone apps that can make millions out of a tiny change in exchange rates, but none that can rescue the poorest countries from their plight. We know how to make Internet pornography, but not how to repair marriages. The very objectivity or neutrality of scientific knowledge as commonly conceived has played into the hands of the gods we secretly worship. — N. T. Wright

To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government. — Amity Shlaes

There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like a safe haven if international exchange rates break down. — Michael Hudson

Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates. — Steve Hanke

To achieve a more balanced international system over time, countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals. — Ben Bernanke

These are good days for him: every day a fight he can win. "Still serving your Hebrew God, I see," remarks Sir Thomas More. "I mean, your idol Usury." But when More, a scholar revered through Europe, wakes up in Chelsea to the prospect of morning prayers in Latin, he wakes up to a creator who speaks the swift patois of the markets; when More is settling in for a session of self-scourging, he and Rafe are sprinting to Lombard Street to get the day's exchange rates. — Hilary Mantel

Although floating and fixed rates appear dissimilar, they are members of the same freemarket family. Both operate without exchange controls and are free-market mechanisms for balance-of-payment adjustments. — Steve Hanke

Our research led on to other things, such as the fact that exchange rates are not lognormally distributed. — John Hull

The whole idea of having a free trade area when you have gyrating exchange rates doesn't make sense at all. It just spoils the effect of any kind of free trade agreement. — Robert Mundell

The Book of Chuang Tzu is like a travelogue. As such, it meanders between continents, pauses to discuss diet, gives exchange rates, breaks off to speculate, offers a bus timetable, tells an amusing incident, quotes from poetry, relates a story, cites scripture. To try and make it read like a novel or a philosophical handbook is simply to ask it, this travelogue of life, to do something it was never designed to do. And always listen out for the mocking laughter of Chuang Tzu. — Zhuangzi

The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many. — Milton Friedman

Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important. — Robert Gilpin

Oil production affects gender relations by reducing the presence of women in the labor force. The failure of women to join the nonagricultural labor force has profound social consequences: it leads to higher fertility rates, less education for girls, and less female influence within the family. It also has far-reaching political consequences: when fewer women work outside the home, they are less likely to exchange information and overcome collective action problems; less likely to mobilize politically, and to lobby for expanded rights; and less likely to gain representation in government. This leaves oil-producing states with atypically strong patriarchal cultures and political institutions — Michael L. Ross

Whatever the trend in exchange rates or whatever the external factors, a manufacturing company is always faced with the mission of transforming itself into a company that can produce higher value-added to absorb the increase in the cost of living in the country it's operating in. — Fujio Mitarai

Every telecomm company is as big a corporate welfare bum as you could ask for. Try to imagine what it would cost at market rates to go around to every house in every town in every country and pay for the right to block traffic and dig up roads and erect poles and string wires and pierce every home with cabling. The regulatory fiat that allows these companies to get their networks up and running is worth hundreds of billions, if not trillions, of dollars.
If phone companies want to operate in the "free market," then let them: the FCC could give them 60 days to get all their rotten copper out of our dirt, or we'll buy it from them at the going scrappage rates. Then, let's hold an auction for the right to be the next big telecomm company, on one condition: in exchange for using the public's rights-of-way, you have to agree to connect us to the people we want to talk to, and vice-versa, as quickly and efficiently as you can. — Cory Doctorow

Time is priceless. Spend it with people you have high value and energy exchange rates with. — Amy Jo Martin

Regulators in Britain, America and Switzerland fined six banks - HSBC, Royal Bank of Scotland, UBS, Bank of America, JPMorgan Chase and Citigroup - a total of $4.3 billion for manipulating foreign exchange markets. Britain's Financial Conduct Authority said that traders at the banks had colluded to rig important benchmark exchange rates between 2008 and 2013. — Anonymous

Even in recent times, the empirical evidence does not support the claim that trade liberalization or incentive neutrality leads to faster growth. It is true that higher manufacturing growth rates have been typically associated with higher export growth rates (mostly in countries where export and import shares to GDP grew), but there is no statistical relation between either of these growth rates or degree of trade restrictions. Rather, almost all of successful export-oriented growth has come with selective trade and industrialization policies. In this regard, stable exchange rates and national price levels seem to be considerably more important than import policy in producing successful export-oriented growth — Anwar Shaikh

Even if index numbers cannot fulfill the demands that theory has to make, they can still, in spite of their fundamental shortcomings and the inexactness of the methods by which they are actually determined, perform useful workaday services for the politician. If we have no other aim in view than the comparison of points of time that lie close to one another, then the errors that are involved in every method of calculating numbers may be so far ignored as to allow us to draw certain rough conclusions from them. Thus, for example, it becomes possible to a certain extent to span the temporal gap that lies, in a period of variation in the value of money, between movements of Stock Exchange rates and movements of the purchasing power that is expressed in the prices of commodities. — Ludwig Von Mises

That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake. — Paul Volcker

We still tell each other that we are lucky to be alive, when our being alive has almost nothing to do with luck, but with geography, pigmentation, and international exchange rates. — Joseph O'Connor