Commodity currency is the currency of countries whose export is focused mainly on one type of product , mainly raw materials [1] .
Often, commodity currency refers to the currency of developing countries . According to a study by the International Monetary Fund [2], the share of commodities in exports of such countries significantly exceeds 50% (for example, in some countries south of the Sahara it is: Burundi - 97%, Madagascar - 90%, Zambia - 88%). However, in some developed countries, the share of raw materials in exports is also significant: Australia - 54%, Iceland - 56%.
In the foreign exchange market , commodity currencies include currencies of such countries as Canada ( Canadian dollar ), Australia ( Australian dollar ), New Zealand ( New Zealand dollar ); Brazil ( Brazilian real ), Norway ( Norwegian krone ), Chile ( Chilean peso ), Russia ( Russian ruble ).
Notes
- ↑ Schreiber T. Commodity currency . Date of treatment January 10, 2012. Archived September 10, 2012.
- ↑ Сommodity currencies . International Monetary Fund. Date of treatment January 10, 2012. Archived September 10, 2012.