News about dollars: everything changes, everything is still

In two very remote planet points from each other, different events representing global interest occurred in nature. Last week, began his march to the world American banknote new design. Yesterday Hong Kong changed the flag, state affiliation, legal status, own name and name of its currency.

Two events unite two circumstances. First, both of them are somehow touching dollars (though different). Secondly, with dollars (different) as a result of these events, nothing fundamentally new happens.

Grant rose to Franklin’s sizes

The new 50-dollar bill was represented on June 13 of the American Public, and after five days – and Russian. At the same time, the explanatory campaign began everywhere outside the United States, where the lion’s part of the American cash is drawn.

Changing the appearance of this banknote – the second step in the global US government campaign against counterfeiters. A year ago, the most common in the world was subjected to a similar procedure (but not very beloved in America itself) 100-dollar bills.

The unity of the designer solution is a characteristic feature of American money of all denominations. Changes are also sustained in a single style.

Portrait of a grant president swinging with an old 50-dollar for a new one (as a year earlier, the image of Franklin from $ 100 per 100 dollars). Like a colleague in the presidential post, Mr. Grant increased in the sizes, shifted to the left, and on the released field appeared as a watermark.

Other degrees of protection include: a microcompon (the president’s jacket, with a careful consideration under the magnifying glass, it turns out of the words United States of America, and the right and left rim of banknotes on the front side are composed of the nominal value: fifty), protective strip (on clearance it also demonstrates the nominal – USA 50, and in ultraviolet lighting becomes yellow), special typographic paint (digit 50 in the lower right corner of the front side at a right angle seems green, and if you look at it on the side, becomes black).

Changed Banknot Numbering System Changed. Previously, the individual number of each consisted of two letters and eight digits. Now added another letter at the end of the combination. Otherwise, the location of the bill is denotedly (as you know, in the US, money emits not one bank, but thirteen included in the federal backup system). Previously, each of these banks put on "their" Money own print. Now instead of them introduced a single printing of the Fed with an alphanumeric code for the Issuer Bank.

Caring for visually impaired people is manifested on the back of the banknote. There, in the lower right corner, the number 50 is printed by a large clear font on a white field.

All changes formally do not affect the solvency of previously issued bills. The US government traditionally adheres to the rule to recognize all its obligations ever pronounced in cash. The official formula for this account reads: "do not output and do not devalue". Antique banknotes released at the end of the last century printed for use in limited territories of overseas military bases during World War II, as well as large (500-, 1000- and 10.000-dollar) bills introduced shortly after it for interbank settlements, and today are accepted by American banks as legitimate payment.

The function of devaluation for the FTS in this case performs the time (inflation). US $ 50 Now, of course, do not stand and the tenth more thing that they cost in 1945. And the actual seizure of turnover is provided by foreign banks that refer possessors "wrong" Banknotes on the American territory.

SO "old" 50-dollar banknotes released in the 90s (that is, on which a grant is smaller, in the center and without duplicate in the form of a watermark) no problems in Russian banks should be. They still retain their purchasing power. According to the experience of last year’s introduction, new 100-dollars can be expected that both commission "Old grants" on "New" our banks will not enter.

Under the new flag –

The fate of the Hong Kong dollar for the population of the European part of Russia represents academic interest. Operations in this currency are rare. Other business – Russian Far East. Hong Kong – the third foreign trade partner, after Japan and China. Far Eastern readers "I" Hurry to calm down: after July 1, when the British colony passes under the sovereignty of the People’s Republic of China, a lot will change in Hong Kong, but nothing happens to his currency.

She, however, will change its official name. The PRC government again acquired territory intends to call "Special administrative district Siangan". Accordingly, Hong Kong dollars in the terminology of new authorities turn into "Sianghan dollars". Nevertheless, cash banknotes, as before, will bear the inscription HONG KONG. Replacement bills are not planned.

Hong Kong (now Xiangganskaya) currency freely convertible. The feature of the Financial System of Hong Kong (now – Oar Sianggan) is the lack of a central bank. Emissions Banknotes are made by authorized banks (Hong Kong Hoyfen Bank, English Chartered Bank and Chinese Bank of China) on behalf of the Hong Kong government. In order to ensure the stability of the exchange rate of its dollar, the local authorities adhere to a specific order "binding" local currency to the US dollar. The course is HK $ 7.74 for US $ 1. Binding not 100 percent hard. Every day the rate still hesitate a bit. But the oscillations affect only the third and fourth sign after the comma.

The colonial administration of Hong Kong tried to interfere as much as possible in the affairs of financial institutions, and new, approved by the Government of the PRC, the authorities, promise to preserve this tradition. At least 50 years, as recorded in the British-Chinese contract for the transfer of sovereignty.

The British colonial administration in Hong Kong, carrying out strict control over the legality of the financial and credit operations, at the same time allow free currency exchange and free credit operations, reducing to a minimum direct intervention by the authorities. In Hong Kong there is no currency control, capital can be freely imported and exported.

Decisions on the sizes of monetary emissions, in Hong Kong practices, are not published. Bank interest on deposits is established by the Banking Association, taking into account the opinion of the local government.

Article 109 of the Basic Law of the Sianggana says: "The Government of Oar Sianggan takes economic and legislative measures to maintain the status of Siangan as the International Financial Center".

Oar Sianggan will independently develop monetary policy, provide free activities of credit institutions and a credit market, carry out (according to the law) management and control functions.

Sianggana dollar remains legal currency Oar Sianggan and retain its convertibility. The right of monetary emissions from now on belongs to the Government of Oar Shangan.

The binding of the Xianghan dollar to the American. For the release of banknotes in local currency, you must have a 100% reserve fund in American dollars. The Government of Oar Sianggan can entrust the release (one-time or regular) local money to certain banks.

Oar Shangan will not introduce currency control. Currency, Golden, Stock and Technical Functions will continue to function. Freedom of circulation, import and export of capital will be provided.

The Monetary Fund is at the disposal of the Government of Oar Syangan, which with its help stabilizes and regulates the exchange rate of the Xianghan dollar.

After July 1, 1997, due to the preservation of the existing financial and monetary system, Hong Kong (Oar Sianggan) will maintain its position of the International Financial Center, and this provision will strengthen how the Chinese authorities hope.