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What are the reasons for virtual currency pegging to us dollar

Publish: 2021-04-24 04:59:29
1. When you compare it to other globally traded assets, we are likely to think that its market value is still small.
2. Virtual currency, like bitbox, is not the same as real currency.
3. Euro, Australian dollar, Canadian dollar, Japanese yen, Swiss franc and British pound are the six direct currencies, which are directly linked to the US dollar. For foreign exchange investment, domestic trade settlement index series can be considered. In fact, the US index and euro have just changed their names.
4. I don't know what you mean by "hook"
almost all currencies in the world have a conversion rate to the US dollar, and the exchange rates between the two non US dollar currencies are calculated by their respective conversion rates to the US dollar. So it can be said that all currencies are pegged to the US dollar
as for whether the specific exchange rate policy is closely linked to the US dollar, several major currencies, free floating or managed floating, it depends on the policies of each country
5. 70% of the world's currencies are linked to the US dollar
Hong Kong dollar, Japanese yen and euro are all linked
6. Although the U.S. dollar is devaluing, the U.S. dollar's dominant position as a global settlement currency is still unshakable. 70% of the settlement is made in U.S. dollars. As the base currency of international settlement, other currencies can't delay the relationship with U.S. dollars. This is the wisdom of Americans!
7. The world's currencies are basically pegged to the US dollar
8.

In the era of gold standard, countries determine their exchange rate by the gold content of their currencies, which is called pegging to gold. The link between the currency and gold is based on the free circulation of gold. During the first World War, the Warring States terminated gold exports one after another, and their currencies devalued sharply. They could no longer exchange gold at a fixed rate. At this time, the currency was actually decoupled from gold< According to the Bretton Woods Agreement of 1944, the currencies of member countries of the International Monetary Fund should be exchanged with gold or US dollar at a fixed exchange rate, that is, linked to gold or US dollar. This agreement established the international monetary status of the US dollar, and the monetary system of various countries established by this agreement is called the Bretton Woods system. In August 1971, the US dollar stopped its free exchange with gold, and the Bretton Woods system collapsed. Then the currencies of various countries no longer exchanged for us dollar at a fixed exchange rate, that is, they were decoupled from the US dollar
exchange rate linkage means that when the main foreign exchange rates rise or fall, the exchange rate of the domestic currency rises or falls together

9. Malaysia's currency is no longer pegged to the US dollar. Singapore is still pegged to the dollar.
10. All currencies in the world are linked to the US dollar. As the only reserve currency in the world, the US dollar is also the only weathervane and reference. Its function is the same as that of Newton (not the name of a person) in mechanics, as the unit of valuation. For example, how many Newtons of force do you have when you hit it. So. As the only unit of valuation, US dollar is a standard to quantify the value of all commodities. The US dollar is an absolute international reserve and has the pricing power over world goods, such as oil, international assets and gold, which are priced in US dollars. With the pricing power of the world, in a sense, commodities priced in US dollars can be regarded as assets of the United States (including undeveloped oil, gold, etc.). Without a dollar unit of account, it is impossible to quantify the value of all goods
therefore, at present, the currencies of the world will not and cannot be decoupled from the US dollar.
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