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Besides default, perhaps the biggest risk to holders of euro-denominated bonds is currency convertibility. It isn't talked about all that often, but it hangs over the market like a black cloud. The ...

As trade denominated in yuan continues to rise at a phenomenal rate, its significance to global markets is quickly increasing. But even as the IMF considers adding renminbi to the basket of SDR ...

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The idea of a "gold standard" monetary system is pretty simple -- the currency's value is fixed to gold. This is really no different than the dozens of "euro standards" and "dollar standards" already ...

The big bang has arrived for Uzbekistan’s financial system, with the government lifting decades-old currency restrictions that had choked entrepreneurship and enabled the black market to thrive. At ...

Chinese government officials offered assurances on currency convertibility and easier access to its financial markets while simultaneously warning the US government about following through on threats ...

“A freely convertible [currency] must have sound, credible and time-consistent macroeconomic policy,” noted Shri Padmanabhan, executive director of the Reserve Bank of India, recently, in an effort to ...

New York Times subscribers* enjoy full access to TimesMachine—view over 150 years of New York Times journalism, as it originally appeared. *Does not include Games-only or Cooking-only subscribers.

Two years ago, Britain’s Chancellor of the Exchequer Richard A. Butler said he was planning to free the pound sterling and open the way to convertibility of currency among the Western nations. The ...