June 24, 2010
How do you come up with a value for a new currency?
kaya asked:
Imagine I create a new country. How do I assign a value to my currency? Can it be just any arbitrary value? Pretty much what ever is most convenient, without worrying about the rest of the world. Or is there more I have to put into consideration? And how do I determine the exchange rate once that currency has been created?
Imagine I create a new country. How do I assign a value to my currency? Can it be just any arbitrary value? Pretty much what ever is most convenient, without worrying about the rest of the world. Or is there more I have to put into consideration? And how do I determine the exchange rate once that currency has been created?
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