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Old 01-20-2013, 05:30 PM
opportunist86 opportunist86 is offline
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Join Date: Feb 2011
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Default Currency and gold reserves

This is a general economic question and not related to Pakistan or any other country's economy.
Is value of currency still depending on amount a gold a country has reserved with bank of England? If no, then how do we define the value of a currency?
If yes, then why are the countries with more amount of gold less developed than those which have less reserves of gold?
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