De facto currency April 2009. Both South African rand and Botswana pula circulate in Zimbabwe. The small French island of St. Pierre and Miquelon has the Canadian dollar as its de facto currency. Hong Kong Dollar is widely accepted in Macau, even though it hasn't gained any official recognition from Autoridade Monetária de Macau (AMCM) as legal tender in Macau. Currently, Macauese Pacata is pegged to Hong Kong Dollar at 1.029(buy)/1.032(sell). However, many merchants who accept Hong Kong Dollars may now offer to pay the difference between 2 currencies, such practice is often called '不补水' in Chinese. If merchandise priced in Patacas is
Currency war Currency war Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies. As the exchange rate of a country's currency falls, exports become more competitive in other countries, and imports into the country become more and more expensive. Both effects benefit the domestic industry, and thus employment, which receives a boost in demand from both domestic and foreign markets. However, the price increases for import goods (as well as in the