Foreign Currency in a sentence

Although it played a key role in providing foreign currency to the productive sector when it was introduced in June 2020, the foreign currency auction system seems to have lost its significance as it is now providing only 13% of total foreign payments.

Amounts of local currency held are immediately invested to maintain purchasing power * The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency.

Foreign-Currency Debt Not Affected: Fitch downgraded the Long-Term Foreign Currency Issuer Default Ratings (IDR) to ‘C’ from ‘CC’ on Dec. 21, 2022 following the government’s announcement of a suspension of payments on selected external debt.

Including Other revenue and the impact of foreign currency exchange, if recent foreign currency exchange rates hold, FY25 revenue growth on an adjusted basis would be in the range of 3.4% to 4.3%.

Titled, “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks”, the apex bank raised concerns over the growing trend of banks holding large foreign currency positions.

The 2020 second quarter result included lower investment income and foreign currency exchange losses compared to foreign currency exchange gains in the prior year period.

The ratings agency also placed the bank’s long-term foreign and local currency bank deposit ratings of B2, and its foreign currency senior unsecured MTN program rating of (P)B2, under review, with the direction uncertain.

Exporters and other organizations in the economy are holding onto over $1.1 billion in their foreign currency accounts despite calls to liquidate or trade the foreign currency on the interbank market.

He added that the exchange or conversion of the Namibia Dollar into any foreign currency is regulated to control the use of Namibia’s foreign currency reserves in the best interest of the economy.

In this regard, the foreign currency-strapped government, under clause 5 of the Bill, provides the schedule of taxable incomes of locals earning foreign currency wages with the tax threshold set at US$840.

Owing to shortages of foreign currency on the official market, most import-dependent businesses have to rely on the parallel market to source foreign currency.

This follows false reports in some media circles that the police had now been empowered to search anyone and seize any foreign currency they may find following the banning of foreign currency for local transactions.

Tuckshop owners said they had to buy their stock in foreign currency, which sounds as if a lot of it is smuggled, and kombi owners complain that they need to buy spares in foreign currency, again a clear example of illegal behaviour.

Under the restrictions, which were unveiled Sunday, Argentines are limited to buying no more than $10,000 a month in foreign currency while corporations require authorization to buy any foreign currency that is not for international trade.

In the face of the prevailing liquidity challenges and shortage of foreign currency, the President challenged the Ministry of Industry, Commerce and Enterprise Development to be export oriented for the country to generate foreign currency.

The resulting lower foreign exchange earnings, capital flight, and general government mismanagement resulted in a precipitous drop in the value of Papua New Guinea's currency, the kina, leading to a dangerous decrease in foreign currency reserves.

For example, foreign securities may be subject to risk of loss due to foreign currency fluctuations, political or economic instability, or geographic events that adversely impact issuers of foreign securities.

In the course of the operation, they also managed to arrest Fransio Supuni aged 58 who was also found with 7,760 Mozambican currency metical illegally and shall be charged with illegal possession of foreign currency.

He said the Monetary Policy Committee also maintained the Liquidity Reserve Requirement (LRR) on the local currency deposits at 5 percent and the LRR on foreign currency deposits at 3.75 percent.

Since last year, unemployment has risen and poverty deepened, as foreign currency dried up and the national currency lost more than 80% of its value against the dollar.