Our proposal focuses on the Currency Transaction Tax (CTT) and establishes that a trade-off between curbing inflation and generating fiscal revenues is indeed possible. In a first section, we rely on an international political economy approach to retrace the evolution of the political debate at the institutional level and its reflection on the concrete proposals made by economists committed with NGOs. In a second section, we update previous works (Jetin, Bruno 2007) (Jetin, Bruno 2002) to estimate the fiscal revenues of the CTT based on a set of hypotheses and using of the last BIS data on Foreign exchange markets” (BIS 2007). We estimate revenues at the world level and by regions (Europe and Asia), over the period 1989-2007. We use various hypotheses regarding the evolution of the structure of the foreign exchange market and the elasticity of the volume of transactions. We compare our results with other previous estimations.