This chapter explains the development during the nineteenth century of the legal structures behind the international monetary union between the United Kingdom, Australia and New Zealand. It thus illustrates the operation of one part of the international gold standard in regulating currency...

The UK has been a net debtor over the past two decades and the sterling exchange rates are sensitive to any chaos that might occur in the Financial market. This paper examines the importance of the inter-national financial imperfections in the sterling exchange rate dynamics. We build a small...