Abstract
The CMEA countries created their common currency, the transferable rouble, by common decision in 1964. Their primary aim was to establish a common instrument for the settlement of economic relations among themselves. In addition, they created this currency to fulfil the basic functions of world money, at least in the socialist world economy, i.e. it was to be the standard of value, (the numeraire) an instrument for international settlements, and the instrument of accumulation.
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© 1984 Springer Science+Business Media Dordrecht
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Vincze, I. (1984). Present Economic Characteristics of the Common Currency of the CMEA. In: The International Payments and Monetary System in the Integration of the Socialist Countries. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-3370-0_4
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DOI: https://doi.org/10.1007/978-94-017-3370-0_4
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-017-3372-4
Online ISBN: 978-94-017-3370-0
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