Carter bonds
Carter bonds are a series of Treasury bonds issued by the United States in 1978 to prevent a fall of the US Dollar. The name comes from the US President Jimmy Carter. It was enacted under the Exchange Stabilization Fund.[1]
In contrast to typical Treasury bonds, which are denominated in US dollars and so do not expose the US Government to currency risk, Carter bonds were denominated in West German Deutschmarks and Swiss Francs.[2]
References
- ^ "Business: Shrinking Role for U.S. Money". Time Magazine. October 15, 1979.
- ^ "Exchange Stabilization Fund -History". U.S. Department of Treasury.
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