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In a monetary economy, where the unit of account is unique, a monetary regime may be defined as a set of coordinated official rules of account and payment, which private agents must observe in their relations. When applied to a metallic monetary regime, this definition allows to recognize the influence of foreign exchange on domestic monetary relations. As early as the XVIth century in Europe, metallic and bank mintages are articulated through specific institutional arrangements ; including public rules, banking behaviors and organized market procedures, they determine the stability or instability of domestic and international relations. This fact invites to a comparison with our modern European Monetary System.

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