The purpose of the study is to demonstrate that the reference rate influences significantly the economic evolution of a country or some large areas on which that currency circulates; we mean euro and US dollar. The monetary policy regarding the reference rate influences clearly the economic...

Having as starting point Radu Stoenescu’s book with respect to discount, and the difficulty in defining discount, we pursue to clarify this category and other associated ones, such as reference rate, discount rate, re-discount and its rate, in a historical and actual approach. The purpose is...