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it is sold when they give the banks and it is bought back from the bank when th money is old,dirty, or torn
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∙ 13y ago
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What describes what is done with foreign currency in the currency exchange market?
Bought and sold using different foreign currencies.
Does the Federal Reserve print money?
Yes the federal Reserve, created in 1913, prints all US currency and coins. Every US dollar in circulation is printed as federal reserve notes which can be seen at the top of every US dollar. The US Treasury is obligated to print money at the demand of the Federal Reserve. When the government needs money, it gives US Treasury bonds to the Federal Reserve and in return, the federal reserve sells the government federal reserve notes with interest. How does the federal Reserve get these Federal Reserve notes? The US Treasury prints them out for the Federal Reserve electronically. These US Treasury bonds are than sold to very wealthy individuals and privant banks.According to the US code-section 411," Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose ofmaking advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose,are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other publicdues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank." (http://codes.lp.findlaw.com/uscode/12/3/XII/411)
In which market is the money bought and sold using other types of money?
The currency exchange market
How can any currency rise in value?
Currencies are bought and sold on the open market - just like other commodities. The more popular a currency is - the higher the selling price will be.
What is convertible currency?
A currency that can be readily bought or sold without government restrictions, in order to purchase another currency. A convertible currency is a liquid instrument when compared to currencies tightly controlled by a central bank or other regulating authority.
Which of following best explains what happens in the currency exchange market?
Money is bought and sold using other types of money
What is the difference between base currency and exchange currency?
Base currency is traditionaly the stronger currency and also the one which is actually bought or sold when we deal in pairs For e.g. if we BUY GBPUSD then we are Buying GBP and Selling USD , Here GBP is the Base currency and USD is the counter currency
When the Fed raised the interest rates between 2004 and 2007 the Federal Reserve?
Correct answer B. sold U.S. government securities, thereby contracting funds to the federal funds market
Where do you sell old currency?
Old paper and coin currency can be sold to currency dealers. Old currency can also be sold online on the website, Ebay.
What is the value of Federal Reserve notes?
Federal Reserve Notes can be spent or exchanged at a bank for their face value regardless of how old they are. None have ever been withdrawn or demonetized. However, older FRN's are often of interest to collectors and could be sold for more than their face value but a dealer or appraiser has to determine that premium.
What is the value of a 1934 100 million dollar Federal Reserve Note?
It's worth a few cents for the paper it's printed on, although it probably sold for $5 to $10 in a gift or novelty shop. The largest circulating denomination of US currency was $10,000, and the largest ever printed was a series of special $100,000 gold certificates used for internal transactions at the Federal Reserve System. Internet rumors to the contrary, there's never been a $1 million bill, let alone a $100 million one.
Is American money worth more than UK money?
no But technically, the US dollar is the more powerful currency. Oil is bought and sold in the $, as is gold and diamonds etc.
