1.   Markets define things in terms of their exchange value.

2.   Thus the state tells a group of farmers to produce a million tomatoes and then sets the exchange value of those tomatoes.

3.   To start with there is the distinction between exchange value and use value.

4.   Money has no direct value, it has an exchange value.

5.   And that view will almost certainly prevail for a while longer, since the West is apparently committed to sustaining the exchange value of the ruble.

6.   By the same token, the crisis calls into question the wisdom of fixing exchange values.

7.   For the moment, Brazil remains defiant, vowing to defend the exchange value of the real even if it drives the economy into a recession.

8.   He also affirmed that the exchange value of the rupiah would continue to float freely but that the government would take measures to avoid sharp drops or fluctuation.

9.   He said he was not concerned about the recent plunge in the exchange value of the dollar, which could hurt European exports.

10.   In December Mexico devalued, then floated, the peso, and in the last three months, the peso has lost roughly half its international exchange value.