17. The basis for recosting can be either the average operational rates of exchange experienced so far in the biennium (the averaging method) or the operational rates in effect at the time of recosting (the latest rate).

The rates and standard costs utilized in the recosting include inflation and exchange rates, standard salary costs, common staff costs and vacancy rates.

Costing adjustments include changes in standard costs such as exchange rates, inflation rates or standard salary costs.

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.

For calculating cost changes, up to date rates and standard costs are subsequently applied.

In the present recosting, the latest United Nations operational rates of exchange (those in effect as at December 2005) have been used as the basis for recosting for Arusha and The Hague.

If absolute rate of change of PCGNI X (a predetermined number to be decided by the Committee)

Estimated exchange rates, inflation rates and salary costs were used as provided by the field offices.

Apart from the oligopolistic characteristics of the market, high fees stem from governments' exchange rate restrictions in receiving countries.

Also, money transfer operators usually charge higher fees and offer less favorable exchange rates in transfer operations than commercial banks.

For exchange rate fluctuations, cost adjustments update previous assumptions on the basis of actual monthly operational rates in the country of operation.

(i) Exchange rates

The Rio Group was pleased that the Committee on Contributions had agreed on criteria for deciding when market exchange rates (MERs) should be replaced with other exchange rates and that it had decided that relative price adjusted rates of exchange (PAREs) were, in general, the most technically sound method of adjusting MERs.

Finally, she welcomed the conclusions of the Committee on Contributions on the use of market exchange rates.

The balance of 11.1 million in currency savings applies to other duty stations.

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.

Those additional requirements had been met within the current level of appropriations, in view of the continuing favourable exchange rate performance of the United States dollar.

The application to 1998 and 1999 of the average rate experienced in respect of the Swiss franc through November 1998 of 1.46 to the dollar compared with an assumption of 1.42 in the initial appropriations for both years results in a reduction of requirements by 15.3 million.

Such cost factors include, for example, decisions on staff entitlement and exchange inflation rate movements. Reserve.

Currency exchange rate

Currency exchange rate

(f) Exchange rate

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

He trusted that the Committee on Contributions would, in its calculations, take account of the fact that the Islamic Republic of Iran had used multiple exchange rates prior to 2002 and a unified exchange rate since then.

The exchange rate fluctuation between euro and the United States dollar has been factored into these costs.

5. Revised estimates effect of changes in rates of exchange and inflation recosting

Takes note of the revised estimates arising from recosting due to the effects of changes in the rates of exchange and inflation

Several measures might be envisaged to implement more transparent policies with regard to total fees and transfer conditions including, inter alia, all applied fees, exchange rates and delivery times.

The Exchange Rate Delusion

Loss on exchange

Also, migrants often burden unfavorable exchange rates, which represent an additional and hidden cost.

Cost changes reflect increases or decreases in the cost of a resource input arising from changes in inflation and exchange rates.

The market and the costs of remittances

In the present recosting, the latest United Nations operational rates of exchange (those in effect as at December 2005) have been used as the basis for recosting for all duty stations, with the exception of Santiago, Beirut, Nairobi, Mexico City and Port of Spain, for which using the average actual rates from January to December 2005 yields the lowest estimates.

Takes note of the revised estimates arising from recosting due to the effects of changes in the rates of exchange and inflation

Schedule 1 Rates of exchange and inflation included in the initial appropriation and in the present report by main duty station

(a) Exchange rate the weakening of the United States dollar has resulted in a net adjustment of 4.3 million in local staff costs

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.

Price adjusted rates of exchange