Unemployment soared, the currency depreciated, and food prices rose dangerously.

A depreciated rupee should help revive Indian exports and lift growth.

Virtually every instance of sustained high growth has been accompanied by a significantly depreciated real exchange rate.

The capital expenditure costs are then amortized or depreciated over the life of the asset in question.

Oil, food, and gold prices have jumped to historic highs, and the dollar has depreciated to historic lows.

The outcome was a sudden fall in the value of the dollar, which depreciated by 50 against the Deutschemark.

At the same time, the Japanese yen has depreciated sharply, including by more than 20 against the struggling euro.

The United States did something similar in 1933, when it depreciated the dollar by 69 and abandoned the gold standard.

On 31 December 2003, the acquisition value of non expendable property recorded was 385,546,690 and the depreciated value was 120,307,163.

I would include social cohesion as part of the asset base it is the one that is depreciated by excessive inequality.

Even so, a depreciated rupee will increase the burden of repaying foreign debt, and deepen the woes of domestic companies and banks.

It forced China to accumulate huge amounts of dollars to stabilize its currency and gave the euro an extra boost as the dollar depreciated.

The currencies of the reform laggards would have depreciated against that of Germany, and there might have been a supportive cut in interest rates as well.

Because crude oil is priced in US dollars, and the dollar has depreciated against the euro, European consumers have gotten off relatively easy from rising energy prices.

On 31 December 2004, the acquisition value of non expendable property recorded in the PeopleSoft and Asset Trak databases was 492,748,146, and the depreciated value was 166,218,375.

This high handed attempt to highjack the ECB and make it a servant of the European Parliament would mean chronically low European interest rates and a depreciated euro.

Almost immediately, the yen depreciated, exports increased, and the stock market soared. After nearly two decades of recession, the Japanese economy was growing again and it had Abenomics to thank for it.

It was predictable that China s currency peg would have this effect. It forced China to accumulate huge amounts of dollars to stabilize its currency and gave the euro an extra boost as the dollar depreciated.

If a large proportion of a country s assets cannot be liquidated easily, or would be greatly depreciated by a large scale sell off, the fact that assets exceed liabilities would not rule out the possibility of debt default.

To dampen the additional inflationary pressures implied by a weaker rupee, more aggressive fiscal retrenchment is needed. Even so, a depreciated rupee will increase the burden of repaying foreign debt, and deepen the woes of domestic companies and banks.

The Japanese equity market is up an impressive 55 since hints of the paradigm shift started hitting investors radar screens. At the same time, the Japanese yen has depreciated sharply, including by more than 20 against the struggling euro.

In fact, while the dollar depreciated during the last half of 2003, resulting in huge exchange gains in 2003, during the first five months of 2004, the dollar appreciated by 3 per cent against the euro and other major currencies.

This likely means trouble for the firm that borrowed in dollars to build a shopping mall in São Paulo or Kuala Lumpur, and now must devote a much larger share of its revenues in depreciated real or ringgit to service its debt.

And in the period prior to the financial crisis, the yen depreciated against most currencies, as well as having lower interest rates, so borrowing in yen and investing in high interest rate currencies such as the Australian dollar or the Turkish lira was very profitable.

Before the introduction of the euro, the reform gap between Germany and its larger neighbors would have been no problem for Europe. The currencies of the reform laggards would have depreciated against that of Germany, and there might have been a supportive cut in interest rates as well.

Yet the pattern of exchange rate movements in the rest of the world has been largely unrelated to existing current account positions. In fact, currencies of surplus countries with heavily managed exchange rates have actually depreciated in real effective terms since the summer, creating inflationary pressure and frustrating global adjustment.

If a discrete exchange rate appreciation is to be sustained, it must reflect expected monetary policies tight money and deflation in the appreciated country, and easy money with inflation in the depreciated country. But domestic money growth in China s immature bank based capital market is high and unpredictable, while many interest rates remain officially pegged.