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 second round of quantitative easing though to a lesser extent than the United States; Britain and the Eurozone did not launch an additional QE in 2010. For a widespread currency war to occur a large proportion of significant economies must wish to devalue their currencies at once. This has so far only happened during a global economic downturn. An individual currency devaluation has to involve a corresponding rise in value for at least one other currency. The corresponding rise will generally be spread across all other currencies and so unless the devaluing country has a huge economy and is substantially