For example, WIPO's budget is denominated in Swiss francs and UNIDO's regular budget is denominated in euros.

The actual budget increase cannot be determined simply by noting a change in the dollar denominated amount.

Of course, an earlier attempt was made to create a commercial market in SDR denominated claims. Back in the 1970 s, there was some limited issuance of SDR denominated liabilities by commercial banks and SDR denominated bonds by corporations.

While China s government should make greater efforts to rebalance the economy by conventional measures, it also should focus more attention on adjusting the currency structure of the country s gross assets and gross liabilities. In particular, China should try to replace its dollar denominated assets with renminbi denominated assets, and its renminbi denominated liabilities with dollar denominated liabilities.

Select the currency in which this account is denominated.

Acquisition security rights include those that are denominated as security rights, as well as those that are denominated as retention of title, arrangements and financial leases.

b Total public debt denominated in pesos and foreign currency.

Expenditure on consultants and experts is denominated in both euros and dollars.

14. As may be agreed from time to time by the parties, all grants provided by the Foundation to the United Nations shall be in the form of cash, denominated in the currency of the United States of America or in the form of stock or other financial instruments denominated in such currency.

UNCCD core budget expenditures denominated in euros include General Service staff salaries, most general administrative expenses, supplies and equipment, joint facilities management costs and travel agents bills (though daily subsistence allowance is denominated in dollars).

For each Annex A and Annex B Party, its emissions budget shall be denominated in tonnes of carbon equivalent emissions allowed and shall equal

Thus, while a significant proportion of expenditure is denominated in euros, some dollar expenditures remain.

The nomenclature is varied and such treaties are often denominated treaties of establishment or treaties of amity.

In neither scenario does it make sense to hold huge amounts of dollar denominated assets today. Therefore, foreign speculators should, any day now, dump their dollar denominated assets onto the market, and so bring about the dollar decline that they so fear.

In November 2001, the authorities again restructured the public debt, this time exchanging dollar denominated bonds for domestic guaranteed loans.

As a result, Greece would be forced to impose capital controls. Some contracts denominated in euros would be subject to Greek law, some to European law, and others for example, derivatives contracts to British or US law.

The Bank of Mexico had now imposed a limit on the foreign currency denominated liabilities that commercial banks could take on.

Second, China s foreign assets are denominated almost exclusively in US dollars, while its foreign liabilities are denominated mostly in renminbi. As a result, whenever the US dollar declines, China s net international investment position (the difference between its external financial assets and liabilities) deteriorates and so does its investment income balance.

Similarly, renminbi internationalization should be encouraged rather than resisted. To be sure, wider international use of the renminbi as a vehicle for cross border trade and investment will heighten other countries dependence on renminbi denominated credit in times of crisis.

New Zealand seeks compensation in the amount of NZ 7,388 for the money held in its Iraqi dinar denominated bank account in Kuwait.

The public sector was at the time running a broadly balanced budget, although government expenditure was partly funded by short term dollar denominated bonds (tesobonos).

For the first time ever, in 2004, the Inter American Development Bank issued bonds that are denominated in the currencies of the countries in the region.

Expanding local currency bond markets could expedite a shift from dollar denominated cross border loans to local currency loans, bringing benefits to both investors and borrowers.

Furthermore, with the budget denominated in dollars, but a significant proportion of expenditures in euros, the financial situation is subject to the vagaries of currency fluctuations.

Currency mismatches caused by the build up of enormous amounts of foreign currency denominated debt were also identified as a major source of instability in developing countries.

Renminbi denominated government bonds were issued in London, and plans were laid to create new trading platforms for the currency in several European financial centers. And Chinese policymakers made it abundantly clear how unhappy they would be with a negative decision.

Chinese officials presumably believe that this situation will change over time. Once banks offer new assets denominated in renminbi, more customers will be drawn into the market, thereby adding liquidity and reducing transaction costs for purchases of renminbi in European currencies.

Three of the other parents in the national court suit, and the NHA, decided to bring their complaint to the European Court of Human Rights (hereinafter denominated ECHR)).

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.

Currency fluctuation is not a major issue for IMO, since the budget is denominated in pounds sterling and 80 per cent of expenditure is disbursed in that currency.

The value of loans denominated in renminbi CN 188 billion ( 29.2 billion) is tiny, especially when one considers that almost 50 of total international banking liabilities are denominated in dollars, approximately 30 in euros, 5 in pounds, and about 3 in yen. And the renminbi accounts for 0.6 1 of global foreign exchange reserves held by central banks, whereas the dollar and the euro account for 62 and 23 , respectively.

When capital flows out of the country as is happening now in some emerging markets it may be helpful if the central bank allows the currency to depreciate in an effort to boost exports and reduce imports. But if the country s borrowers have a lot of dollar denominated debt, depreciation can be ruinous.

The external deficit of the United States is financed mainly by Central Banks that invest their foreign exchange reserves in dollar assets, for which euro denominated assets represent a serious alternative.

Likewise, while the Chinese Yuan might be king in 50 years, China s moribund financial system will prevent it from being crowned anytime soon. A huge share of world trade is denominated in dollars, even if some OPEC presidents, such as Venezuela s Hugo Chávez, openly preach mutiny.

Gold may be a store of value for wealth, but it is not a means of payment you cannot pay for your groceries with it. Nor is it a unit of account prices of goods and services, and of financial assets, are not denominated in gold terms.

If China is serious about elevating the SDR to reserve currency status, it should take steps to create a liquid market in SDR claims. It could issue its own SDR denominated bonds.

In 1979 the scheme was further modified by a switch to a system of food stamps (denominated in monetary terms) and by bringing certain food prices more into line with world prices.

About 800 billion of China s foreign exchange reserves are invested in euro denominated assets. A disorderly default, and the resulting downward pressure on the euro, would unavoidably cause Chinese investments to lose value.

But capital is flowing in from other countries as well. Holding euros and acquiring euro denominated securities have become attractive again around the world, pushing up the exchange rate and causing new difficulties.

Expenditures for staff costs and maintenance of the premises mainly denominated in euros have been translated into United States dollars in April 2002 at an average euro to dollar exchange rate of 0,8636.

The philatelic market continues its decline due to the ageing and reduced size of its collector base, the consolidation of dealerships and the slow acceptance of euro denominated stamps in the philatelic market.

In January 2005, the Argentine Government presented bond holders with a new debt restructuring deal, involving 152 bonds denominated in six different currencies amounting to roughly 82 billion and subject to eight legal jurisdictions.

Development related investments accounted for 12 per cent of the Fund apos s assets at book value, with about 43.8 per cent of these holdings denominated in currencies other than the United States dollar.

Moreover, foreign investors remain reluctant to borrow from Chinese banks in renminbi, or to issue renminbi denominated bonds in Shanghai. That will remain true as long as they fear continued outside political pressure to appreciate.

In this context, IMF has been advising developing countries to develop domestic bond markets to raise funds through long term fixed interest securities denominated in the local currency as an alternative to borrowing from abroad.