1 million and income tax adjustments of $600,000, and were hurt by foreign currency revaluation
losses of $1.
This negative result in December associated with a currency revaluation
of investments in subsidiary banks.
As a matter of fact, some recent calculations have shown that almost 40 percent of growth in the last decade came from currency revaluation
, a process that triggered an excessive rise in the current account deficit (CAD).
All company's financial results were negatively affected by currency revaluation
German current-account surpluses, driven primarily by positive trade balances, appeared briefly in the 1950s, were corrected after a currency revaluation
in 1961, and then re-emerged in surges in the late 1960s, the late 1970s, the late 1980s, and again in the 2000s.
For instance, a Currency Revaluation
Wizard takes users through all the steps of a currency revaluation
and culminates in automated entries to book both the unrealized gain/loss and the subsequent reversing journal.
Recent reports from the Bank of Korea in Seoul have indicated that North Korea's economy is still hurting from the 2009 currency revaluation
, as it is reported to have contracted by 0.
Pak Nam-Ki, former head of the ruling party s planning and finance department, was reportedly executed in March last year to take the blame for a bungled currency revaluation
Most analysts say at the moment the case for currency revaluation
is weak in the region as inflow of capital in the form of bank deposits is not expected to recur as interest rate differentials between the dollar and other emerging market currencies are far higher than between the dollar and Gulf currencies.
Alan Alexandroff, the co-director of the G20 Reseach Group at the University of Toronto, told Al Jazeera that the issue of means of dealing with imbalances between national economies - such as quantitative easing and currency revaluation
- was going to dominate the summit.
It also ignores an inevitable question that, although rarely asked, is one whose answer, unlike currency revaluation
, could indeed contribute to making things better all around.
Some have been important such as the outrage among North Koreans over a drastic currency revaluation
late last year.