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A reserve currency is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. [ citation needed ] The reserve currency can be used in international transactions, international investments and all aspects of the global economy.
In December 2019, the South China Morning Post reported that, due to the trade war and the Chinese government's crackdown on shadow banking, Chinese manufacturing investments were expanding at the lowest rate since records began. [267] Economic growth rate for 2019 was 6.1%, the slowest since 1990. [263]
By October 2016, the exchange rate was £1 to €1.12, a fall of 14% since the referendum. By the end of August 2017 sterling was even lower, at £1 to €1.08. [ 127 ] Against the US dollar, meanwhile, sterling fell from £1 to $1.466 to £1 to $1.3694 when the referendum result was first revealed, and down to £1 to $1.2232 by October 2016, a ...
The U.S. unemployment rate peaked at 11.0% in October 2009, the highest rate since 1983 and roughly twice the pre-crisis rate. The average hours per work week declined to 33, the lowest level since the government began collecting the data in 1964. [34] [35] The economic crisis started in the U.S. but spread to the rest of the world. [29]
The unemployment rate was 7.2% in May 2017 while the employment rate was 67.4%, with the workforce consisting of 4,983,000 people while 387,000 are unemployed. [223] [224] Unemployment among youth (aged 24 or younger) in 2012 was 24.2%, making Sweden the OECD country with the highest ratio of youth unemployment versus unemployment in general. [225]
The exchange rate does not put pressure on the industrial sector or inflation (at 4% a year), and does away with the possibility of a liquidity crisis. As a result, the country, after 12 years, has achieved a positive balance in the accounts which measure exports/imports, plus interest payments, services and overseas payment.