The Currency board reference article from the English Wikipedia on 24-Jul-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

Currency board

A currency board is a system by which a currency is convertible at a fixed exchange rate with another currency.

This can mean that the currency is fully backed by another currency, eg the United States dollar.

When a currency board makes a currency convertible at a fixed exchange rate to some weight of gold then the system is referred to as a gold standard.

See also

Central bank

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