On increase of tourism revenues, the BCT plans to introduce
non-convertible currency in tourist contracts, through governmental agreements providing for "clearing" operations.
When sanctions hit, Iran agreed to accept 45 percent of the payments for its oil in rupees, a
non-convertible currency that is useless outside India and that began stacking up in Iranian accounts in India.
Further, Hong Kong cannot use a
non-convertible currency to back up its monetary base, which is fully convertible to the U.S.
However, he stressed Beijing would implement a reform in the exchange rate regime of its
non-convertible currency which would lead to a gradual rise.
She said China also benefited from a
non-convertible currency "that has worked well."
government keeping most or all of the foreign exchange paid and then paying workers in local,
non-convertible currency.
While it is an unlikely event for a well managed economy with a floating exchange rate, the New Zealand economy can not afford to face a situation of a
non-convertible currency. Our foreign currency reserves need to be sufficient to ensure such a situation has a very low probability.
Statesmen and bankers navigated a new world of
non-convertible currency, protecting Britain, weathering increased risks and disruptions, and financing an unprecedented share of international trade.
Its
non-convertible currency and closed capital markets - both of which it plans to reform in pursuit of long-run prosperity - had the short-run payoff of insulating it from global shocks.)
Among other relevant factors, the combination of a narrow export base (oil, gas, gold, and weapons) with a
non-convertible currency means that the Russians just don't have the hard currency to buy goods for cash.
Since the rial is a
non-convertible currency internationally and since its value has eroded ever since the revolution (when a dollar sold for about 70 rials), there are few international institutions believed to have any interest in working in the rial.
Since the rial is a
non-convertible currency internationally and since its value has eroded constantly since the revolution, there are few institutions believed to have any interest in working in the rial.
