Overvalued exchange rates, in turn, have attracted more inflows by adding to arbitrage margins created by high interest rates.

In an economy with flexible interest and exchange rates, arbitrage eliminates the exchange rate spread quickly. But, because China s exchange rate and interest rates are inflexible, the CNH CNY spread persists, and arbitragers are able to reap fat profits at the economy s expense.

Results from fluctuations in exchange rates amounted to a net gain of 12,244.

38. The Committee agreed to keep the question of conversion rates under review, including the use of price adjusted rates of exchange (PAREs).

The date of foreign exchange applicable will be specified by the Customs General Administration.

(i) Exchange rates

The 2005 average actual rate was used for Kigali.

This publication includes three types of rates (a) market rates, determined largely by market forces (b) official rates, determined by government authorities and (c) principal rates, where appropriate, including for countries maintaining multiple exchange rate arrangements.

Currency exchange rate

Currency exchange rate

(f) Exchange rate

(c) Principal rates, for countries maintaining multiple exchange rate arrangements.

Exchange rate with Italian lt 1,545 (22 Apr 1997).

exchange rate with Italian lt 1,545 (22 Apr 1997)

Exchange rate with Italian lt 1,545 (22 Apr 1997)

The Exchange Rate Delusion

Loss on exchange

As to the question whether the exchange rate to be applied to the computation of damages should be the one prevailing at the date of the arbitral award or at the time of application for enforcement, the Court ruled that the latter would prevail, even through there would be additional financial benefits to the claimant.

Exchange rate fluctuation

Coverage Report

Rates of exchange 1998 1999

What's the rate of exchange?

Second, conversion rates based on MERs should be used for the 2007 2009 scale, except where excessive fluctuations justified the use of PAREs or other appropriate rates.

Decreases in exchange rates reflect the strengthening of the United States dollar against the schilling.

From the point of market performance, over the past year, the two way floating characteristics of RMB exchange rate is outstanding. The elasticity of exchange is expected to be strengthened and the exchange rate is expected to be generally stable.

The current trend in the United States dollar and euro exchange rates was also not favourable to such a move.

Price adjusted rates of exchange

Fluctuation in the exchange rate.

The equivalent in euros of contributions paid in US is calculated at the most favourable rate of exchange (normally the market buying rate) available to the Tribunal on the date of payment.

With respect to the Austrian schilling, the January through November 1998 average of 12.45 vis à vis the assumption of 12.30 in the initial appropriations results in a reduction of requirements of 1.2 million.

A smooth reduction in global imbalances was important to reduce the risks of abrupt increases in interest rates and further volatility in exchange rates.

The operational rates of exchange shall be those established by the Secretary General and communicated to the Executive Director.

China s Forex Follies

B. Exchange rate fluctuations

a December 1997 rate of exchange.

c November 1998 rate of exchange.

Is that a fair rate of exchange?

In the present report, in estimating the effect of exchange rate changes experienced in 2005, the realized exchange rates from January to November 2005, with the November rate applied to December, have been used.

Effect of changes in rates of exchange and inflation

Effects of changes in rates of exchange and inflation

Investments are recorded at cost using commercial historical exchange rates instead of United Nations operational rates of exchange.

The fixed exchange rate also provided an implicit assurance to market participants, who saw no need to hedge foreign borrowing.

As regards conversion rates, it was assumed that the same types of rate would be used for the annual recalculation as for the initial scale, that is, in most cases, market exchange rates, with alternative rates when the use of market exchange rates caused distortion.

(n) Reserve for exchange rate fluctuations

Examine rate of change of PCGNI in US dollars in nominal terms between two base periods