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| | Devaluation - Wikipedia, the free encyclopedia |
 | | Devaluation is a reduction in the value of a currency. | | | Devaluation is most often used in situations where a currency has a defined value relative to the baseline. | | | In an open market, the perception that a devaluation is imminent may lead speculators to sell the currency in exchange for the country's foreign reserves, increasing pressure on the issuing country to make an actual devaluation. |
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http://en.wikipedia.org/wiki/Devaluation
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| | devaluation - Columbia Encyclopedia article about devaluation |
| | It is usually undertaken as a means of correcting a deficit in the balance of payments balance of payments, balance between all payments out of a country within a given period and all payments into the country, an outgrowth of the mercantilist theory of balance of trade. | | | Balance of payments includes all payments between a country and its trading partners and is made up of the balance of trade, private foreign loans and their interest, loans and grants by governments or international organizations, and movements of gold (capital account). | | | Although devaluation occurs in terms of all other currencies, it is best illustrated in the case of only one other currency. |
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http://columbia.thefreedictionary.com/devaluation
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| | Currency Devaluation and Revaluation - Fedpoints - Federal Reserve Bank of New York |
| | Devaluation, the deliberate downward adjustment in the official exchange rate, reduces the currency's value; in contrast, a revaluation is an upward change in the currency's value. | | | Thus, devaluation may dampen investor confidence in the country's economy and hurt the country's ability to secure foreign investment. | | | Under a fixed exchange rate system, devaluation and revaluation are official changes in the value of a country's currency relative to other currencies. |
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http://www.newyorkfed.org/aboutthefed/fedpoint/fed38.html
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| | Currency devaluation - Hutchinson encyclopedia article about Currency devaluation |
| | Devaluation of important currencies upsets the balance of the world's money markets and encourages speculation. | | | The increased cost of imported food, raw materials, and manufactured goods as a consequence of devaluation may, however, stimulate an acceleration in inflation, especially when commodities are rising in price because of increased world demand. | | | To promote greater stability, many countries have allowed the value of their currencies to ‘float’, that is, to fluctuate in value (see exchange rate). |
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http://encyclopedia.farlex.com/Currency+devaluation
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| | The Daily Star Web Edition Vol. 5 Num 613 |
| | A government may have fallen just before devaluation as a result of economic mismanagement or for other reasons, leaving the successor the opportunity to blame the necessity for devaluation on the fallen government or a government may have delayed the devaluation to a time which is thought politically safe. | | | Gandhi could not discuss the issue of devaluation with left, and her decision to rely on foreign resources made it impossible to generate nation-wide sentiment in favour of devaluation. | | | Devaluation of currency has severe adverse effects on liquidity of foreign borrower industries in most relentless and moderately foreign loan indebted countries (Ahmed 1996; Cooper 1971, Richardson 1989; Denon 1986). |
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http://www.thedailystar.net/2006/02/18/d60218150399.htm
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| | XXXI. CURRENCY AND CREDIT MANIPULATION: The Objectives of Currency Devaluation |
| | But they were anxious not to mention that one of the two cost items they expected to lower by devaluation was real wage rates, the other being interest stipulated on long-term business debts and the principal of such debts. | | | We may admit that for the British and American governments in the 'thirties no way was left other than that of currency devaluation, inflation and credit expansion, unbalanced budgets, and deficit spending. | | | The much talked about advantages which devaluation secures in foreign trade and tourism, are entirely due to the fact that the adjustment of domestic prices and wage rates to the state of affairs created by devaluation requires some time. |
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http://www.mises.org/humanaction/chap31sec4.asp
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| | FRBSF: Economic Letter - Contractionary Effects of Devaluation (11/13/98) |
| | Alternatively, when a devaluation is accompanied by a rise in the domestic price level, as is often the case, it erodes the purchasing power of money, which through a so-called "real-balance effect" leads to a decline in aggregate demand. | | | In this situation, any increase in the price of the dollar (i.e., a devaluation) would inflict a large capital loss on banks as the value of their dollar-denominated liabilities suddenly rose relative to the value of their assets. | | | First, to avoid the negative impulse associated with currency devaluations, it is essential that governments either credibly commit not to bail out their banking systems or, more realistically, that they vigilantly monitor their activities. |
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http://www.frbsf.org/econrsrch/wklyltr/wklyltr98/el98-34.html
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| | Côte d'Ivoire: Devaluation's Benefits |
| | Pending a devaluation (which would require caution and time for preparation), the Bank decided against issuing loans to Côte d’Ivoire exclusively on IBRD terms, given that loans would have to be repaid from government revenues. | | | The devaluation removed a major constraint to policy dialogue, which subsequently gained prominence in the relationship between the government and the Bank. | | | Two sets of three adjustment loans were approved between 1988 and 1993 to lay the groundwork for devaluation by (1) launching reforms that would contribute to the success of the devaluation and (2) providing prompt financial support for the post-devaluation period. |
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http://wbln0018.worldbank.org/oed/oeddoclib.nsf/d6e15766d406a12d85256808006a000c/c2b8012214d45fef852567f5005d9070?OpenDocument
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| | Devaluation is Not the Answer by Andrew West -- Capitalism Magazine |
| | Some devaluation proponents naively claim that exporters will benefit extensively from the increased competitiveness coming from local currency costs and foreign currency revenues. | | | Now, policymakers may be starting to accept devaluation as an economically good thing, posing a potential risk to investors and the world economy. | | | An increasing number of economists and journalists are making comments approving currency devaluation as a way to boost economies and "gain competitiveness." Some analysts, like The New York Times' Paul Krugman, have been recommending devaluation around the world for years, and it seems that an increasing number are jumping on his bandwagon. |
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http://www.capmag.com/article.asp?ID=463
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| | RGE - What Happens if Italy Dumps EMU and the Euro? Devaluation, Default and Lira-lization of Euro Debts! |
| | Devaluation and inflation are (hidden) taxes on money balances (we pay); they can finance many deficits, and erode the real value of many debts. | | | Of course, the Argentina example suggests that after a devaluation, default and de-dollarization have been associated with a severe economic and financial crisis, the economy would sharply recover and interest rates may fall as long as inflation is kept under control via some inflation targeting regime. | | | So, households may default on their euro mortgages, firms may default on their euro debts and even the government may have to restructure and reduce its euro public debt. |
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http://www.rgemonitor.com/blog/roubini/92824
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| | The Effects of a Renminbi Devaluation on ASEAN Economies: An Applied General Equilibrium Approach, by Robert R. Teh Jr. |
| | While the devaluation of the ASEAN and Korean currencies have been enormous, ranging from 67% to 15%, the crisis-affected countries have also seen an appreciable change in prices eroding a significant amount of the currency devaluation. | | | While the direct impact on ASEAN of a renminbi devaluation is expected to be sector-specific as well as probably country specific, there are other risks associated with a renminbi devaluation that have to be taken into account. | | | The results suggest that while a renminbi devaluation only has a small effect on total ASEAN exports, there is substantial sectoral impact on exports of textiles and apparel as well as other manufactures. |
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http://www.aseansec.org/2826.htm
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| | Jamaat-e-Islami Pakistan: Rupee Devaluation |
| | One should realize the negative effect of devaluation on the import bill price level and debt servicing. | | | This means that government had been planning and managing every step keeping in mind the IMF conditionalities including demand for devaluation. | | | Where stands the government after giving a "tax free" budget but has now resorted to worst kind of indirect taxation. |
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http://www.jamaat.org/comments/devaluation.html
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| | Devaluation |
| | The first attempt to deal with this situation was by designating the older currencies as Old Tenor and allowing them to circulate at the lower rate, then setting a new rate (from 6s to 8s per Spanish dollar) for new issues, which were designated as New Tenor currencies. | | | Devaluation had become so dramatic that several states stopped issuing currency. | | | At both times this oversupply of currency caused a significant devaluation in its purchasing power. |
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http://www.coins.nd.edu/ColCurrency/CurrencyIntros/IntroDevaluation.html
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| | The Impact Of Dollar Devaluation On The World Oil Industry: Do Exchange Rates Matter? |
| | Theoretically, dollar devaluation reduces drilling activities in areas where most of the costs are denominated in non-dollar appreciating currencies such as the North Sea. | | | Dollar devaluation increases oil demand in countries with appreciated currencies because of an increase in purchasing power. | | | International oil companies sell their crude in US dollars while they operate around the world using local currencies to pay for wages, benefits, taxes, and various costs. |
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http://www.mees.com/postedarticles/oped/a47n33d01.htm
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| | Latest News - Republic of Botswana |
| | This devaluation is a slap on the face of the Bank of Botswana inflation control efforts and BOCCIM wonders whether interest rates will come down since this devaluation is most likely going to trigger inflation. | | | It said that the worst casualties of the devaluation will be those at the lower end of the economic ladder and those with a fixed income, who will lose their purchasing power by 12 per cent. | | | This devaluation which comes so close to the last one, will affect investor confidence in the Botswana economy and repatriation of profits by foreign investor. |
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http://www.gov.bw/cgi-bin/news.cgi?d=20050602&i=BOCCIM_protests_Pula_devaluation
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| | afrol News - Botswana devaluation questioned |
| | Suspicions that government was devaluing to cover an impending budget deficit caused by a salary increment seems to be gaining legitimacy. | | | The trio of President Festus Mogae, Finance Minister Baledzi Gaolathe and Bank of Botswana governor, Linah Mohohlo have pulled yet another sensational stunt in the form of a 12 percent currency devaluation of the national currency, the pula. | | | While the government aims at promoting exports and cutting imports as the economy is detracting, Batswana consumers will again pay the bill through hiking prices. |
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http://www.afrol.com/articles/16481
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| | World Bank - Documents & Reports - Devaluation in low-inflation economies - Policy Research Working Paper |
| | In the current period of devaluation pessimism, devaluation is often seen as an instrument to accommodate inflation instead of one to change the real exchange rate and support external balance. | | | Under the best scenarios, there is an increase in inflation the year before and the year of devaluation, but inflation then falls to a level slightly higher than the level before devaluation. | | | The shift to a more flexible exchange-rate regime was not associated with complete loss of control of inflation. |
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http://www-wds.worldbank.org/servlet/WDS_IBank_Servlet?pcont=details&eid=000009265_3961005164301
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| | Hutton article |
| | Reactive devaluation happens when people try to create a mutually beneficial deal but find reasons to devalue the other party's offer once the negotiation begins. | | | Yet another suggestion is for the parties to help defuse reactive devaluation by giving more details and background about the offer. | | | Research shows that offers from the opposing party are perceived differently because the offer is made in a negotiation rather than a neutral setting. |
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http://www.convenor.com/madison/hutton.htm
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| | Mmegi Online ::> news we need to know |
| | “The devaluation of the Pula is therefore expected to help the textile sector to take advantage of these agreements and increase its imports to these markets. | | | BIDPA said that Botswana’s textile industry is “generally competitive”; as such the devaluation is expected to improve the country’s competitiveness in all major markets. | | | In an effort to arrest the soaring inflation brought about by the devaluation of the Pula, the Bank of Botswana increased the bank rate by 25 points from 14.00 to 14.25 and 14.50. |
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http://www.mmegi.bw/2005/December/Wednesday14/23361241544.html
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| | Bloomberg.com: News & Commentary |
| | A devaluation would increase the cost of debt payments in Zimbabwean-dollar terms. | | | As consumer prices surge, their costs go up as well because the exchange rate does not adjust as it would in a country where currency values are determined by the market. | | | At the same time, though, it would help export earners such as mining companies bring in the hard currency the government needs for imports and debt payments. |
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http://quote.bloomberg.com/apps/news?pid=nifea&&sid=a2vM1.zou3iA
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| | DEVALUATION HORRORS! |
| | Devaluation contributes mightily to deflation and most of the politicians don't have the foggiest idea of the forces they unleash when they devalue their currencies. | | | Runs on the banks are a normal aftermath of currency devaluation. | | | That leads to international currency devaluation with each country trying to outdo the other. |
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http://www.parida.com/devalue.html
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| | Financial Sense University ~ The Argentine Currency Devaluation 03/04/2003 |
| | The “Post-effect” devaluation has resulted in Argentina having approximately 9 different currencies, which includes different types of local Provincial Bonds, that can be used to purchase goods and as a currency for other transactions. | | | Most medium and small-size companies have to look for other means for obtaining credit lines when they are made available. | | | However, poorly managed governments with poor economic policies slowly crushed the size of the middle-class population. |
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http://www.financialsense.com/fsu/editorials/2003/0304.htm
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| | DR1 Forums - Any news about the devaluation? |
| | Who cares about the effect devaluation will have on Dominicans with savings accounts, peso denominated notes, and businesses with receivables. | | | When the Dominican peso devalues, the prices of many consumer and durable goods in the DR automatically rise (unless the government (INESPRE) tries to freeze them) to match the dollar equivalent. | | | In general cost of living wouldn't be higher at all. |
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http://www.dr1.com/forums/printthread.php?t=13177
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| | Intentional Currency devaluation |
| | In an incredibly complex series of relationships, its amazing how truly simple the most important investment reality really is...if all or most paper currencies are locked in a struggle to devalue, then investing in Gold or Silver is the simple, powerful and elegant solution. | | | Thus, we are now deeply enmeshed in an era of competitive currency devaluations. | | | While this "may" help some sectors of a nation's economy, it can also do terrible damage to other sectors of the same nation. |
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http://www.gbtg.net/mnn/intentional_currency_devaluation.htm
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| | Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business. |
| | This rebalancing could trigger the devaluation of the dollar against the euro and the yen, currencies which the People's Bank of China would be selling its dollar reserves for. | | | Because an exchange-rate adjustment would result from a policy change in Beijing, it is likely that any adjustment would be preceded by the rebalancing of China's foreign exchange reserves, and related investments, out of the US dollar into other currencies. | | | Rather than focusing on the spurious issues of competitiveness and deficits, Washington should ponder the impact of a dollar devaluation on inflation in the US. |
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http://atimes.com/atimes/China/GE13Ad02.html
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| | GM Devaluation = Deflation |
| | GM stock devaluation leads not only to lower assets of price and value of ownership but now no longer can have the large leading base of credit it so enjoy in better years, thus again being force to lower its asset base lower again (devaluation). | | | Because of the large increase of credit in the system (largest in any of all world history of any time period) at some point, that credit will not be wanted thus causing ‘contraction’ of the lending process. | | | Deflation occurs when prices are declining over time. |
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http://tfc-charts2.w2d.com/forum/index.cgi/noframes/read/357257
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| | The Coming Currency Devaluation |
| | After repeated warnings from currency analysts and market advisors (including yours truly) that the U.S. currency system is on the verge of becoming a blocked, two-tier system we now have confirmation that the country is one step closer to realizing this. | | | The article "The Coming Currency Devaluation" By Clif Droke is all wrong. | | | This is inevitable because the U.S. cannot never pay back its foreign debt that, at this day, as You have noted, amounts to an unperceivable amount of $6 trillion. |
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http://www.rense.com/general42/cimi.htm
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| | Kitco - Contributed Commentaries |
| | As a consequence of the devaluation of the U.S. dollar, the Bank of China purchases of U.S. government debt will be smaller. | | | One of the ramifications of China's move to devalue the dollar over time is extremely negative for U.S. interest rates, and therefore for housing prices. | | | While contemplating the many ramifications of the devaluation of the U.S. dollar by the People's Bank of China, a review of the Gold market would be timely. |
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http://www.kitco.com/ind/Schmidt/jul222005.html
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| | Mmegi Online ::> news we need to know |
| | JOHANNESBURG: The devaluation of the Pula, just days before the maturity of government bonds, in which foreign investors had bought a stake in, had the potential to harm Botswana’s international image, a senior economist has warned. | | | Botswana is the leading diamond producer in the world, which accounts for close to 80 percent in foreign revenue and contributes close to 40 percent to the Gross Domestic Product. | | | Word doing rounds among economists in South Africa is that the government devalued the Pula without consulting the Bank of Botswana (BOB). |
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http://www.mmegi.bw/2005/November/Monday28/4141776261333.html
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| | USATODAY.com - Argentine president says devaluation inevitable |
| | While most Argentines earn their salaries in pesos, the economy is largely dollar-based and more than 80% of contracts and debts are listed in dollars. | | | Some pharmacies stopped taking payments from government health plans and accepting credit card payments, worried they would not be processed before devaluation. | | | Thousands of Argentines lined up at banks Friday to withdraw as much money as they could to spend the currency before its value fell. |
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http://www.usatoday.com/money/world/2002-01-04-peso.htm
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| | Protecting Your Company Against Foreign Currency Devaluation |
| | Currency devaluation is considered to be a commercial risk covered under such a policy. | | | Thinking through the risks and planning for them in advance of entering the transaction would seem to be a more prudent approach. | | | The U.S. exporter might well have significantly reduced the risk of non-payment in such circumstances with insurance issued through the U.S. Export-Import Bank. |
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http://www.harrison-firm.com/NL_protecting_your_company_against_.htm
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| | VHeadline.com - Opposition employers reject government currency devaluation |
| | Mendoza criticizes the government for its price control policies, saying labor laws, increase in the price of gas among other things, forces the sector to adopt additional measures to sustain the possibility of growth and competitiveness. | | | Likewise, another opposition leader, National Council of Commerce and Services (Consecomercio) president, Jorge Botti says the news of devaluation is never welcome because it has an immediate effect on prices and on imported goods. | | | Although Botti admits that the parallel market is the norm for fixing prices, Botti says it will be interesting to see how that market responds... |
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http://www.vheadline.com/readnews.asp?id=26266
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| | CNN.com - Argentina braces for devaluation - Dec. 26, 2001 |
| | But as worry grew that the government could be overtaken by events, store owners fearing devaluation raised prices or canceled the huge discounts with which they had tried to drum up business. | | | Investors fear that the currency plans are just a quick fix, buying time for Latin America's third largest economy before a dramatic and sudden devaluation that would bankrupt thousands of firms indebted in dollars. | | | The new currency -- the Argentino -- will be used to pay state salaries. |
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http://edition.cnn.com/2001/BUSINESS/12/26/argentina.re
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| | BBC News BUSINESS International cost of Argentina devaluation |
| | It is not so much the devaluation that will hit them - but plans to denominate utility bills in dollars and tax oil exports. | | | Already, French and Spanish politicians are reported to have put pressure on the Argentine administration to help the companies which invested heavily there. | | | News that dollar-based tariffs on services such as water and electricity will be turned into pesos on a one-to-one basis could hit their revenues hard. |
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http://news.bbc.co.uk/2/hi/business/1746917.stm
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| | BBC NEWS Business Zimbabwe mulls 'de facto devaluation' |
| | Zimbabwe's government is believed to be drawing up measures to tackle the country's chaotic foreign currency trading arrangements and regain control of the exchange rate. | | | Zimbabwe's leading firms have been campaigning for change, as they are forced to pay black market rates for foreign currency needed to buy supplies but must change export earnings at the official rate. | | | The plan amounts to a de facto devaluation, according to Professor Tony Hawkins of the University of Zimbabwe's Graduate School of Management, who has seen some of the documents. |
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http://news.bbc.co.uk/1/hi/business/2721765.stm
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| | The US Dollar And Oil Pricing Revisited |
| | The immediate effect of the new agreement was an increase of 6.1% in posted prices making the total increase, since the February 1973 dollar devaluation, 11.9%. | | | Future increases were linked to changes in the exchange rate of the US dollar and 11 major currencies. | | | Accordingly, in March 1973, an OPEC Ministerial Committee was formed to negotiate with the companies an amendment to the Geneva agreement that would secure full compensation for the devaluation of the dollar and to avoid any future loopholes. |
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http://www.mees.com/postedarticles/oped/a47n01d02.htm
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| | 'Reform' Goes Tumbling With Ruble Devaluation |
| | Monday's devaluation of the Russian ruble and the temporary debt default was inevitable but not a long-term solution. | | | The problem is a fundamentally flawed economic reform that Boris Yeltsin has kept afloat with a financial pyramid game. |
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http://www.brook.edu/views/op-ed/hough/19980818.htm
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| | MSN Encarta - Search Results - Devaluation |
| | Devaluation, in economics, official act reducing the exchange rate at which one currency is exchanged for another in international currency markets.... | | | The devaluation of the world of men is in direct proportion to the increasing value of the world of things. | | | See all search results in Encarta Articles (45) |
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http://uk.encarta.msn.com/Devaluation.html
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| | Educational devaluation - Wikipedia, the free encyclopedia |
| | Educational devaluation is the process whereby educational degrees, for sociological and occupational purposes, become less valuable over time. | | | In the United States, most educational degrees are considered to have devalued by about four years since the turn of the 20th century. | | | For example, a high school degree once sufficed for entrance into a middle class occupational field; now a college degree is practically required. |
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http://en.wikipedia.org/wiki/Educational_devaluation
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| | Encyclopedia americana online |
| | the effects on a multinational corporation of a devaluation | | | My only beyond the scale of a or they may all be of concentrated encyclopedia americana online fooles then of wise men. |
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http://encyclopedia-americana-online.gussy.lomza.pl
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| | WorldNetDaily: Devaluation of life |
| | We're heading toward the total devaluation of life. | | | Wait until you hear of a cloned baby that has been aborted – it will happen. |
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http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=30218
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| | Borderline Personality - Devaluation - The Slippery Slope |
| | It then gets easier to value one's own narcissistic and selfish expression which will over-ride the reality of the other person's entity. | | | In the act of devaluing borderline's often misinterpret reality as if events that have occurred are a conspiracy against them or are happening just to them and being done by others on purpose. | | | Chances are that the change in plans your friend has made has nothing at all to do with you. |
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http://www.suite101.com/article.cfm/3661/59524
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| | Devaluation |
| | How this happens and how it might be changed. | | | Devaluation is a universal process, but there are differences between societies in what they value | | | Things that are valued in one culture may be devalued in others. |
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http://www.diligio.com/devaluation.htm
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| | Australian economy and devaluation |
| | People quite rightly associate growth with rising living standards — but a falling currency mean falling living standards. | | | Nevertheless, if the devaluation is large enough prices of imports must rise. | | | Australian economy: Why a devaluation won’t save us |
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http://www.brookesnews.com/051804auseconomy.html
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| | Zim bank governor announces devaluation : Mail & Guardian Online |
| | Delivering his long-promised "Post Election Monetary Policy Statement," Gideon Gono rejected calls for the currency to be allowed to fall to current black market rates in excess of 25 000 Zimbabwe dollars to the US$1, but increased the official rate from 6 200 Zimbabwe dollars to 9 000 Zimbabwe dollars. | | | Patson Sithole, president of the Confederation of Zimbabwean industries said the devaluation would "overall have a positive effect because we are trying to generate foreign currency. | | | Gono delivered an address to legislators, bankers and businessmen that lasted nearly three hours and was filled with criticism of foreign speculators he said were sabotaging the revival of the economy. |
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http://www.mg.co.za/articlepage.aspx?area=/breaking_news/breaking_news__business/&articleid=241166
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| | idealisation/devaluation |
| | How about six years of idealization and then several weeks of devaluation, a really abrupt shift, including them having an online affair? | | | The overvaluation and the devaluation, the most salient, and shocking, aspect of NPD, together with the inability of people with NPD to sustain anything in their lives, be it relationships, work and business relationships, even hobbies and interests. | | | I also think the devaluation occurs in part because they need to blame someone else when things don't go according to their fantasy. |
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http://www.suite101.com/discussion.cfm/npd/57490/latest/9
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