Gold Points


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Gold Points

 

the upper and lower limits of the fluctuation of the exchange rate around its gold parity level under the conditions of gold circulation and free movement of gold between countries. The gold points were defined by expenditures connected with the movement of gold between countries (transport and insurance).

The exchange rate of any currency under gold circulation and free import and export of gold could not exceed the upper gold point. Otherwise, the payer would benefit more, even considering the packing, mailing, insurance, and other expenses, by sending the gold to the creditor’s country and exchanging it there for the equivalent in the national currency in which payment was intended; in this way there would be an inflow of gold to the country of the given currency. A fall of the exchange rate of the national currency below the limit of the lower gold point could not occur, since at this limit it would be more beneficial to export gold from the country; that is, there would be an intensive outflow of gold. The lowest rate of exchange of the currency is sometimes called the export gold point, and the highest rate, the import gold point. With the repeal of the gold standard and the introduction of foreign exchange restrictions, the gold points ceased to have practical significance.

M. G. POLIAKOV

References in periodicals archive ?
Regardless of outside support, both Greenpoints and Gold Points officials say that a store manager's level of engagement is crucial to maximizing program success.
Small and medium-size retailers are also seeing good results from loyalty programs that encourage repeat visits to build points and credits, like S&H Greenpoints and the Gold Points Reward Network.
Stressing this point, Gold points out that the growth in single-stream collection "is the number one thing that our company is involved with.
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In addition to a number of frequent flyer partner options, Thrifty also offers loyal customers another option -- Gold Points Rewards.
If financial markets thought that national commitments to convertibility at unchanged prices were credible, the expectation for mint par parity would be for no change and the exchange rate would not be expected to move outside of the established gold points.
The qualifications which I have added to this have been always the same, though the precise details have varied; namely (1) that the parities between national standards and gold should not be rigid, (2) that there should be a wider margin than in the past between the gold points, and (3) that if possible some international control should be formed with a view to regulating the commodity value of gold within certain limits" [1982 (1933), Collected Writings, vol.
Gold points out: "Parents see student competitors executing knee drops and other tricks and want their young contender to do the same.
It was Gregan who put the first Green and Gold points on the board in the 26th minute, when Perry sent a marked kick straight into midfield and the little scrum-half exchanged passes with Horan for a try that Eales just failed to convert.