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Question
Which of the following statements is true about a currency board system?
A. Under a strict currency board system, interest rates adjust automatically based on the supply and demand of domestic currency.
B. To convert domestic currency on demand into another currency, a currency board takes grants from the International Monetary Fund.
C. This system is a true fixed exchange rate regime, because the domestic currency is fixed against other currencies.
D. A currency board can issue additional domestic currency even when there are no foreign exchange reserves to back it.
E. A currency board authorizes the government to print money and set interest rates.
Answer
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