The currency was in theory governed by a rules based Currency Board, which the British invented for their smaller colonies. It tied the local currency to the British Pound, giving local authorities no discretion in monetary policy.

It tied the local currency to the British Pound, giving local authorities no discretion in monetary policy.

Another promising development is the growth of local currency bond markets.

It is also the name of the local currency (abbreviation GTQ).

Local currency government debt markets have performed fairly well during the crisis, while local currency corporate debt markets have played a more modest role as a vehicle for longer term finance.

Salaries are paid in local currency while allowances are paid in US dollars.

The local currency is the Falkland Islands pound, which is pegged to the British pound sterling.

Ironically, today s pain stems from one of the great successes that emerging economies have achieved the reduction of foreign currency funding in favor of local currency debt.

Central Reserve Bank of Peru (BCR) recalled that the change of currency was due to the invasion of feeble Bolivian currency that, since 1840, entered the country through the Southern zone, thus provoking confusion with the local currency.

These markets have been insulated in part because most investment in real estate backed securities has come from local investors who often need to invest in local currency markets.

But, as these investments bolster economic growth, increased tax revenues would imply more sustainable financing, as would local governments ability to leverage land markets and approach local currency debt markets.

Local currency bond markets could help to develop domestic investor bases and mobilize domestic savings to support long term investments.

For one thing, it is folly to think that more local currency debt eliminates the possibility of a financial crisis.

The exchange rate explains part, but not all, of the increase, since 13 countries actually increased contributions in local currency.

Some 18 Governments increased their contributions to regular resources in local currency and 14 increased by 7 per cent or more.

In most countries, such intervention would tend to push up inflation, because the central bank issues local currency in return for dollars.

All organizations whose expenditures, like those of the secretariat, are predominantly incurred in local currency experience problems arising from exchange rate fluctuations.

They have also paid back a significant share of external debt and converted much of what remains into more manageable local currency liabilities.

Many countries therefore view the development of local currency bond markets to be an important policy priority that reduces vulnerability to external shocks.

Some of the Asia Pacific and Latin American and Caribbean countries have begun to issue long term, local currency bonds to promote investments.

In 2009, sharp drops in commodity prices and the effects of the global financial crisis caused the local currency to drop 40 against the U.S. dollar.

Governments may be able to mobilize funding through debt swaps, where donors exchange debt for local currency investment in environmental protection, such as waste water treatment.

Policymakers in many emerging market countries worry that surging capital inflows will drive up the value of the local currency, destabilize financial markets, and fuel economic overheating.

Finally, local currency bond markets and, more generally, domestic capital markets in emerging economies must be explored further, in order to lengthen the tenure of financial flows.

3. Takes note of the updated list of hard currency duty stations for which the allowances are specified in local currency, as contained in annex VIII to the report of the Commission Official Records of the General Assembly, Fifty fifth Session, Supplement No. 30 (A 55 30).

The other 89 resulted from 222 growth in dollar prices in that period, as local currency prices rose faster than prices in the US and the exchange rate appreciated.

Currency Chaos

It is encouraging that 10 OECD DAC members increased their contribution to regular resources in 2004 in local currency terms, many for the fourth consecutive year, or resumed their contributions.

The dollar (currency code TTD) is the currency of Trinidad and Tobago.

China s Currency Conundrum

Oil Currency Hypocrisy

Controlling China s Currency

currency units, a.k.a.

Currency exchange rate

Currency exchange rate

(c) Currency adjustment

Currency of reimbursement

Under direction of Chief of Finance, administers the mission apos s U.S. dollar account and other local currency accounts, attends to banking matters on behalf of the mission, and other related duties.

The Cayman Islands Dollar (currency code KYD ) is the currency of the Cayman Islands.

The implication is that the dollar, the euro, and the renminbi will share the roles of invoicing currency, settlement currency, and reserve currency in coming years.

The Currency Manipulation Charade

An Accidental Currency War?

China s New Currency Policy

Currency War and Peace

(d) Currency exchange adjustments