However, some claims were presented in other currencies, and some others were presented in United States dollars after conversion from other currencies.

The amount fluctuates as many frozen accounts are in other currencies.

(iv) Gain loss on exchange arises from transactions conducted in currencies other than euros, for the general and other Headquarters funds and the revaluation of assets and liabilities held in local currencies.

Today, currencies other than the dollar account for 40 of identified international reserves.

Countries that have outstanding debt in dollars or other foreign currencies are especially vulnerable.

Central banks have reportedly slowed their accumulation of dollars in favor of other currencies.

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

Given that the renminbi s real and expected rates of return are higher than the real rate of return of other currencies, it has become a positive carry against foreign currencies, reinforcing the tendency to hold assets in renminbi and liabilities in foreign currencies.

And that will require a less competitive euro higher relative to the dollar and other currencies.

Japanese intervention cannot explain the revaluation of the euro against the dollar and many other currencies.

While the renminbi has risen relative to the dollar, the dollar has declined against other major currencies.

Let s start with the most likely of the negative developments a falling exchange rate relative to other currencies.

South Korea, Brazil, and other emerging market countries are also attractive diversification investments, causing their currencies to appreciate.

China has essentially pegged its currency to the dollar, while most other currencies fluctuate more or less freely.

However, some 10 to 15 per cent of expenditures remain in other currencies, mainly in United States dollars.

Investors in the US and other countries cannot buy either renminbi or renminbi denominated bonds in the way that they can buy other currencies.

Exchange of currencies

While the renminbi has appreciated slightly relative to the dollar since June, the greater fall of the dollar relative to many other currencies means that the renminbi has generally also fallen relative to those currencies.

Just as the US now has to share the world stage with other economies, the dollar will have to make room for other international currencies.

The dollar is likely to continue falling relative to the euro and other currencies over the next several years.

Worse still, other countries whose currencies have appreciated against the renminbi can look forward to a Chinese import invasion.

Several other currencies now have minor shares in those portfolios, and will continue to do so in the future.

This has meant either a decline in asset prices quoted in dollars or in dollars quoted in other currencies.

Ideally, Asian currencies would rise much more than 15 while European currencies would rise less.

Presumably as a result, the dollar has lost value relative to other major currencies or in terms of purchasing power.

The yen s rising value raises the yield on Japanese bonds relative to the yield on bonds denominated in other currencies.

Yet the rise in the euro, yen, and other currencies compensated for the fall in the dollar, preserving China s advantage.

First, President François Hollande, worried about the euro s appreciation against other major world currencies, called for an exchange rate target.

Moreover, some emerging market currencies are joining the club of international currencies for the first time.

Austrian, Italian, and Swiss regulators, seeing that their banks assets and liabilities were in their own currencies, looked the other way.

The greenback has lost more than a quarter of its value against other currencies, adjusted for inflation, over the last decade.

Thus, for the dollar to depreciate further, it will have to depreciate against the currencies of China and other emerging markets.

This outlook for the current account balance does not depend on what happens to the renminbi s exchange rate against other currencies.

In other words, today s turmoil over currencies and trade is a direct result of our failure to solve our employment problem.

Today, the misalignment of the dollar and the euro against the renminbi and other Asian currencies is increasingly becoming Asia s problem.

Some countries devalued their currencies.

Wanted Chinese Leadership on Currencies

(v) Gain loss on exchange arises from transactions conducted in currencies other than dollars (i.e. for the dollar based extrabudgetary technical cooperation activities in annex I, dollar statements) and the revaluation of assets and liabilities held in non dollar currencies.

It would also allow other Asian countries to let their currencies rise or expand their exports at the expense of Chinese producers.

The performance of emerging market currencies and other assets so far in the second quarter suggests that deleveraging has begun once again.

It is their unwillingness to do so at the existing exchange rate that causes the dollar to fall relative to other currencies.

Whereas the budget of UNODC is expressed in United States dollars, a large share of the expenditures is incurred in other currencies.

A World of Multiple Reserve Currencies

That is also true of currencies.

Moreover, it happened without much downward exchange rate adjustment so far, owing to the weakness of the euro and some other key currencies.