the last time the price of stamps went up was december 2013.
the last time the price of stamps went up was december 2013.
when was the last time the price of stamps went up?
december 2013
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if foreign or domestic investors believe that the central bank does not hold enough foreign reserves to defend the fixed exchange rate, they will target this nation’s currency for a speculative attack. the investors do this by selling that country’s currency to the central bank at the fixed price in exchange for the central bank’s reserve currency, in an attempt to deplete the central bank’s foreign reserves. once the central bank runs out of foreign reserves, it no longer is able to purchase its currency at the fixed exchange rate and is forced to allow the currency to float. this often leads to the sudden depreciation of the currency. as many large nations have massive amounts of foreign reserves, often referred to as war chests, speculative attacks often target smaller nations with smaller war chests as they are easier to deplete.
speculative attack