Editing Currency board (section)

==History==

In [[Colonialism|colonial administration]], currency boards were popular because of the advantages of printing appropriate [[Denomination (currency)|denominations]] for local conditions, and it also benefited the colony with the [[seigniorage]] revenue. The first such case was the [[Board of Commissioners of Currency of Mauritius]], established in 1849. Other notable cases included the [[West African Currency Board]] (est. 1912), [[East African Currency Board]] (est. 1919), and successive boards serving the [[Straits Settlements]] then [[British Malaya]]. 

However, after [[World War II]] many [[Decolonization|independent countries]] preferred to have central banks and independent currencies.<ref>{{Cite web|last=Hawkins|first=John|date=2015|title=History of Economic Thought Concerning Currency Boards|url=https://www.researchgate.net/publication/282613501|url-status=live|access-date=3 December 2021|archive-url=https://web.archive.org/web/20211203211930/https://www.researchgate.net/publication/282613501_History_of_Economic_Thought_Concerning_Currency_Boards |archive-date=2021-12-03 }}</ref>

Currency board arrangements experienced a revival of popularity in the late 20th century following negative experiences with inflation. Unlike in the colonial era, they were typically implemented by existing central banks whose mandate was correspondingly restricted.<ref>{{citation |title=Currency Boards: The Ultimate Fix? |url=https://www.imf.org/external/pubs/ft/wp/wp9808.pdf |publisher=International Monetary Fund |author=Atish R. Ghosh, Anne-Marie Gulde, & Holger C. Wolf |date=January 1998}}</ref>