All transactions in foreign currencies
undertaken under paragraph 1.
With the global nature of the travel distribution business and the fact that bookings are expected in currencies
other than just the U.
However, the necessity of operating in a larger economic environment in which wages and non-traded goods and services are still paid in local currencies
would prevent reaping the full benefits that would be realized with a single currency system.
Consequentially, investors should consider whether it might be prudent to diversify their portfolios with a fund that invests in a basket of hard currencies
that includes gold.
By late August, the German mark was strengthening not only against the dollar but also against other European currencies
in response to strains that were to become far more intense later in the period.
This is the preferred option of most American companies, but we do not always have the economic muscle to demand all-dollar transactions and, with the value of the dollar falling against many currencies
, all-dollar exchanges are not always desirable.
We priced Learn to Trade Forex at $99 to make it accessible to anyone who has an interest in trading currencies
," commented Mr.
As for creditor nations and institutions, a policy of bailouts by international institutions cannot be a substitute for basic responsibilities in maintaining respect for and the value of the currency to which other nations look as a numeraire for their own currencies
Although the Articles went into force in December 1945, the system of fixed exchange rates envisaged at Bretton Woods became fully operational only at the end of 1958, when most major foreign currencies
became convertible for the private sector into dollars for current account transactions.
More and more Latin Americans are using the dollar in place of their own national currencies
, sometimes with the support of their monetary authorities.
During the three-month period, the dollar declined less than 1/2 percent against the mark and more against some other European currencies
, ending the period about 18 percent below its mid-June 1989 highs against the mark.
currently supported include the Australian dollar, British pound, Canadian dollar, euro, and Japanese yen.