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Onanda Currency Converter

Last update: Wednesday 23rd of May 2012

A very common measure of an investment is called, the Return on Investment (ROI,) Regardless of whether you're investing in currencies, real estate or a business venture this is a very important long term consideration for any currency investor is how are they repatriate there profits into there home countries currency. The New England colonies (Connecticut, Massachusetts Bay, New Hampshire and Rhode Island) accepted each other's paper money as legal tender in their territories. Token coins were also cross-boundary legal tender as were banknotes (1900) recognized by the banks of the member countries. It worked so perfectly that no one wanted to convert the currencies and exchange rates were not available from 1905 to 1924, when Sweden dismantled the Union following Norway's independence. Actually, the countries involved created (though not officially) what amounted to a unified central bank with unified reserves - which extended monetary credit lines to each of the member countries. It worked so perfectly that no one wanted to convert the currencies and exchange rates were not available from 1905 to 1924, when Sweden dismantled the Union following Norway's independence.

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