Convertible

Convertible currencies

MODIFICATIONS TO KUWAIT'S SHORELINE PRESERVE

Non convertible

Non convertible currency

For claims stated in currencies other than Kuwaiti dinars or United States dollars, the currency exchange rate to be applied is the average rate in effect for the month of August 1990 for converting those currencies into United States dollars as indicated in the United Nations Monthly Bulletin of Statistics.

Exchange of currencies

A. Currency exchange rate 99 102 26

depreciation of nonconvertible currencies.

Non convertible currencies held at 31 December 2004

That the exported goods are furnished against foreign currency convertible within three months of the date of shipment.

The regular resources cash balance at the end of 2004 was 329 million, consisting of 318 million in convertible currencies and 11 million in non convertible currencies.

Travellers' cheques and notes in all major foreign currencies may be exchanged at any commercial bank and most hotels and foreign exchange counters.

Table 5 Non convertible currencies held at 31 December 2004

It is also a means to obtain United States dollars through the foreign exchange process.

C) Through an amendment in Foreign Exchange Act 1947, State Bank of Pakistan (SBP) has issued directives whereby the money changers have been transformed into the Exchange Companies duly regulated by SBP having a minimum capital of Rupees 100 million.

Schedule 10 Non convertible Currency Holdings as at 31 December 1997 73

Like the project company, the foreign construction contractors and suppliers will expect to be able to convert into foreign currency and transfer abroad any revenue earned in local currency.

Foreign exchange offices are also required to make periodic declarations.

The equivalent of 1,491,424 ( 1,099,180) is held in currencies classified as non convertible, as follows

Currency exchanges and money transfers are subject to the regulations mentioned above, which specify the conditions for the legality of any transaction.

Thus, these costs do not raise any currency exchange rate issues.

Its currency is freely convertible, and there are no controls on capital movement.

Currencies, the use of which (mainly in respect of transferability and convertibility) is limited because of foreign exchange regulations or donor s wish.

Financial contributions to accounts established under Article 18 shall be payable in freely convertible currencies and shall be exempt from foreign exchange restrictions.

Algerian foreign exchange regulations limit to 7,500 euros the amount of funds (coins and bank notes) that can be exported by Algerian nationals.

It includes refunds of the prior years apos expenditure and gains on the translation of currencies.

Several speakers pointed out the importance of avoiding the accumulation of foreign currency denominated debt and borrowing in local currency as a hedge against foreign exchange rate risk.

Officials responsible for the operation of the Tribunal's bank accounts or for holding the Tribunal's cash or negotiable instruments are not authorized to exchange one currency for another, except to the extent necessary for the transaction of official business.

The provisional available balance that remained in the Voluntary Trust Fund as of 30 June 1998 amounted to 364,608 in convertible and 14,132 in non convertible currencies (at official rates as at 30 June 1998).

Non convertible currency counterpart contributions to the Mediterranean Trust Fund (statement VII.2) 193 583

Caribbean Trust Fund (statement VII.3) 27 099

Note 7. Non convertible currencies pending United States dollar credit from UNDP

On the question of conversion rates, the Committee on Contributions would continue to look at ways of using rates other than market rates in respect of countries in which it detected real problems.

Table 5 shows details of the United States dollar equivalent of non convertible currencies held at 31 December 2004.

The following table shows details of the United States dollar equivalent of non convertible currencies held at 31 December 2004.

In the last two months of the year, the dollar experienced a sharp depreciation of 10 per cent, contributing to the overall moderate foreign currency exchange impact for the year.

In the last two months of the year, the US dollar experienced a sharp depreciation of 10 per cent, contributing to the overall moderate foreign currency exchange impact for the year.

(d) Includes NCC equivalent of 93,000 and unpaid pledges of 142,000.

The following figures show the United States dollar equivalent of the non convertible currencies held as at 30 June 1997

The Panel therefore determines the appropriate exchange rate applicable to claims expressed in other currencies.

The savings were offset in part by the recording in the Operations accounts of losses on currency exchange.

Statement VII.2. Non convertible currency counterpart contributions to the Mediterranean Trust Fund

Statement VII.3 Non convertible currency counterpart contributions to the Caribbean Trust Fund

Refer to Schedule 10 for details of the dollar equivalent of non convertible currencies held at 31 December 1997.