1.   Its currency is pegged to the dollar.

2.   An increase in U.S. rates would force Hong Kong to tighten credit to keep its currency pegged to the dollar.

3.   And if some countries are pegging their currencies to the dollar, then what is the dollar pegged to?

4.   Argentine yields are normally bound to U.S. rates because the currency is pegged to the dollar.

5.   As a result, countries like Thailand, Korea and Indonesia, whose currencies were pegged around the rising dollar, became much less competitive.

6.   Argentine markets are tightly linked to those in the U.S. because the currency is pegged to the dollar.

7.   Because currencies were no longer pegged to the fixed price of gold, it became harder to exchange one currency for another.

8.   A devaluation could be disastrous for Argentina, which has borrowed heavily in dollars in recent decades and which has pegged its currency tightly to the U.S. dollar.

9.   A motion that ousted Bucaram late Thursday also called for an end to higher prices for basic services, and dropping plans to peg the currency to the dollar.

10.   But it still does not walk tall in Switzerland, the Netherlands, Belgium, Luxembourg and France, where currencies are loosely pegged to the German mark.