01675cas a2200241 a 4500 AALejournalIMF001419 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451860108 1018-5941 BD-DhAAL BD-DhAAL Oppers, S. Dual Currency Boards : A Proposal for Currency Stability / S. Oppers. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (22 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper shows that extending the convertibility guarantee of the traditional currency board to a second reserve currency brings about an automatic, market-driven change of the peg when the initial reserve currency appreciates beyond a specified level. The 'dual' currency board thus maintains the advantages of a hard peg, but avoids the economic difficulties associated with the link to an overvalued reserve currency. As an added benefit, the system has the potential to promote global currency stability, with the reserves of the dual currency board country acting as a buffer stock to the exchange cross-rate of the chosen reserve currencies. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2000/199 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/199/001.2000.issue-199-en.xml IMF e-Library