US DOLLAR AND EURO AS GLOBAL CURRENCIES
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The paper is aimed at presenting the extent to which dollar and euro fulfil particular functions of world money. At the beginning, the authoress presents theoretical discussion about functions that money should perform in order to be universally used by foreign entities in trade and international finance. Then, the degree to which dollar and euro functioned as world money in the period 1999 - 2007 is subject to verification. Finally, dollar and euro prospects for becoming international currencies are discussed.
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