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Topic: Hard currency

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	Economic article with a new economic developpement policy based on multiple currency
		A wage earner who works in private companies, would be remunerated in two currencies according to the distribution of income of the company in the soft currency and the hard currency.
		So, in a similar product is on the market in both currencies, the transaction in soft currency will have the preference of the buyer (even at higher price) because buyer would prefer to save their hard currency than the soft currency.
		The part of the country which functions with a hard currency, will be able in the medium term to profit from a reduction of tax which reduces the competitively of these companies on the international markets.
	lautbry.tripod.com /cpce/economy/multi-money/economy.htm (1609 words)

	Hard currency - Wikipedia, the free encyclopedia
		Hard currency, in economics, refers to a currency in which investors have confidence, such as that of a politically stable country with low inflation and consistent monetary and fiscal policies, and one that if anything is tending to appreciate against other currencies on a trade-weighted basis.
		Investors as well as ordinary people generally prefer hard currencies to soft currencies at times of increased inflation (or more precisely increased inflation differentials between countries), at times of heightened political or military risk, or when they feel that one or more government-imposed exchange rates are unrealistic.
		For example, during the Cold War, the ruble in the Soviet Union was not a hard currency because it could not be easily spent outside the Soviet Union and because the exchange rates were fixed at artificially high levels for persons with hard currency, such as Western tourists.
	en.wikipedia.org /wiki/Hard_currency (758 words)

	hard currency (Site not responding. Last check: )
		Hard Currency - The term "hard currency" is a carry-over from the days when sound currency was freely convertible into "hard" metal, i.e.
		Hard currency, in economics, refers to a currency in which investors have confidence, such as that of...
		Hard currency and financial development Hard currency and financial development This paper investigates the relationship between hard currency and financial development.
	www.financial-repeater1.com /articles/172/hard-currency.html (409 words)

	ipedia.com: Hard currency Article (Site not responding. Last check: )
		Hard currency, in economics, refers to a currency in which investors have confidence, such as that of a politically stable country with low inflation and consistent monetary and fiscal policies, and o...
		Before its replacement with the Euro the Deutschmark was considered perhaps the hard currency par excellence.
		In some cases, an economy may attempt to increase confidence in the local currency by pegging it against a hard currency, as is this case with the Hong Kong Dollar or the Renminbi.
	www.ipedia.com /hard_currency.html (571 words)

	cash - Hutchinson encyclopedia article about cash (Site not responding. Last check: )
		Hard currencies are usually those of the industrialized nations.
		US dollars and pounds sterling are two of the most popular hard currencies.
		Retailers in countries with soft currencies, such as the old USSR, China, and many African states, often prefer to take hard currency, instead of their national currency, in exchange for goods and services.
	encyclopedia.farlex.com /cash (115 words)

	Hard Currency ... Karl Jones Web (Site not responding. Last check: )
		All items were on sale for hard currency at three times their ruble equivalent on the street.
		"Hard currency" (valyuta in Russian) is more than a designation indicating freely convertible banknotes, and its adjective, valyutny, confers a special dignity and value on any noun it precedes.
		At times, it was hard to convince Russians in the outback that I wasn't crazy to have left the valyutny world to live in their country.
	www.karljones.com /money/hardcurrency.asp (521 words)

	Isolation with Flexibility: A Resource Management Framework for Central Servers
		The more tickets a currency issues, the less each ticket is worth with respect to the base currency, and their total base value can never exceed the value of the tickets used to back the currency itself.
		The number of hard tickets used to fund this soft-ticket currency is adjusted as needed to ensure that the total number of the currency's hard tickets remains fixed.
		Users could use hard tickets to give an application a fixed percentage of their resource rights, or to specify hierarchical reservations in which absolute shares from the base currency are divided into hard subshares.
	www.usenix.org /event/usenix2000/general/full_papers/sullivan/sullivan_html/sect2.html (1308 words)

	PricewaterhouseCoopers: Romania-Repatriation of Hard Currency (Site not responding. Last check: )
		The statute of limitation as regards the applicability of these sanctions for non-repatriation in time of the hard currency receivables is of one year from the date when the contravention has been committed (as per Law no 32/1968 on contraventions).
		Another exception from the obligation to repatriate hard currency amounts within the stipulated time frame is their offset against import operations, but only as regulated by Government Decision no 276/1995.
		Although the repatriation of hard currency was probably intended as a means to increase in-flow of funds into Romania - with positive impact on economical development in general - lack of flexibility and weight of sanctions inevitably lead to an abatement of the expected outcome.
	www.pwcglobal.com /ro/eng/ins-sol/issues/issues2001/repatriation.html (845 words)

	OPEC Should Return to a Hard Currency Standard and Drop the U.S. Dollar \| The Daily Reckoning Australia
		During the 1970s, all the fiat currencies in the world got dragged down with the dollar, because of the trade implications of allowing the dollar to fall too far against their currencies.
		The dollar-centric monetary order arose in the 1930s and 1940s because the dollar remained a hard currency – pegged to gold – while all the currencies of Europe and Japan were devalued during the Depression and two world wars.
		The first rule is that they get paid for their oil in a "hard currency," which, over six thousand years, has only meant one thing: a currency linked to gold.
	www.dailyreckoning.com.au /hard-currency/2008/01/10 (1472 words)

	IFRS : Principles/concepts : Measurement Currency (Site not responding. Last check: )
		An entity might use a particular currency, other than its domestic currency, to such a significant extent, or that currency might have such a significant impact, that it is appropriate to use it as the measurement currency.
		These factors are the legal and regulatory environment that the entity is subject to, the currency regulations in the entity’s domiciled country and the degree to which transactions are settled in a foreign currency [SIC-19.5, Appendix A].
		Conversely, an entity operating in a restricted currency exchange environment may have the ability or legal right to operate in a hard currency, and thus be less affected by the legal and regulatory environment
	www.pwcglobal.com /Extweb/service.nsf/docid/1E0AEE538473C99C85256C7600513B40?opendocument (1240 words)

	[No title]
		This is essential whether you are trading foreign currencies for profit on a daily basis as a few large companies do, or you are deciding whether and when to establish or change a three month, 12 month or five year hedged position.
		Hedging a particular currency exposure means establishing an offsetting currency position such that whatever is lost or gained on the original currency exposure is exactly offset by a corresponding foreign exchange gain or loss on the currency hedge.
		Once the exposure is uncertain, or not genuinely in the currency in which the transaction is settled, it is usually called an 'economic' exposure rather than a transaction exposure.
	accfinweb.account.strath.ac.uk /am/tml6.html (5262 words)

	AEI - Short Publications (Site not responding. Last check: )
		Giving other countries the ability to peg their currencies to a basket of hard currencies (say, a mix of the dollar and the euro), rather than just to the dollar, might stabilize fixed exchange rate regimes.
		If the country switches from the euro to some other currency at some point in the future, all future bond payments would be converted into that currency at the currency conversion ratio prevailing at the time of the currency change.
		Furthermore, it is hard to construct rules that ensure enforcement by the central bank (one should not underestimate the creativity of bureaucrats when defining the meaning of inconvenient statutes).
	www.aei.org /publications/filter.foreign,pubID.15811/pub_detail.asp (3030 words)

	Hard currency loans up 26% - JAMAICAOBSERVER.COM
		The growth in the foreign currency loan balance was at a slightly higher pace than the 25 per cent increase in Jamaican dollar loans during the same period, central bank data show.
		The loans were facilitated by a steady build-up in hard currency savings by Jamaicans with savings reaching US$1.745 billion by the end of May, a 14 per cent growth over a year.
		Overall hard currency loans represent 42.5 per cent of the deposits, a ratio which is up from 38.3 per cent a year ago when the loan balance stood at US$586.6 million.
	www.jamaicaobserver.com /magazines/Business/html/20040907T200000-0500_65891_OBS_HARD_CURRENCY_LOANS_UP____.asp (199 words)

	Firms borrowing more fx - JAMAICAOBSERVER.COM
		Banks say that generally loans are denominated in hard currency only if the borrower can demonstrate sustainable earning in greenback, but that the number of individuals who can do so has been expanding.
		Ross said that the move towards hard currency borrowing was being driven by the differential in the interest costs between local currency and US dollar debt.
		The hard currency loans are funded from a variety of sources with the US$1.5 billion in deposits at the commercial banks providing one significant source.
	www.jamaicaobserver.com /magazines/Business/html/20051129T160000-0500_93578_OBS_FIRMS_BORROWING_MORE_FX.asp (977 words)

	JS Online: Egypt Imposes Hard Currency Controls (Site not responding. Last check: )
		The central bank's hard currency reserves, officially at $14 billion, have fallen by more than 20 percent since 1999.
		The start of war in Iraq is exacerbating the situation since tourism revenue - a key source of Egypt's hard currency - is expected to drop 40 percent, or $8 billion, over the next year, according to government estimates.
		In the case of the pound's supposed flotation, the government quietly locked the local currency into a band rather than leaving it at the mercy of the markets.
	www.jsonline.com /bym/news/ap/mar03/ap-egypt-economy032403.asp?format=print (268 words)

	[No title]
		To escape currency crises, a country may lock its money to that of a reserve-currency country, as by a "currency board." This may, if an only if reserves are ample and all other economic objectives are subordinated, maintain the peg and hold down inflation.
		The presumption that currency crises are just the fault of the victims is still all too prevalent among the statesmen of world finance and, of course, among media pundits.
		All the liquid local currency assets they hold can potentially be tendered to the central bank and government to buy up their holdings of hard currency.
	www.econ.yale.edu /cowles/P/cd/d11b/d1188.htm (6070 words)

	Hard currency in hard times - Trade by Numbers®
		And, in one form or another, gold is the ultimate currency for hard times.
		His coins were not valued as much as the originals and had the main result of introducing inflation to an economy that had never known it, ultimately destroying it.).
		While it is the ultimate disaster currency, it pays no interest or dividends, costs money to store, and can easily get stolen from that peanut butter jar at the back of your fridge that you thought no burglar would ever find.
	magazine.globeinvestor.com /servlet/ArticleNews/commentarystory/GIGOLD/20040806/koza0806/GIGOLDMAG/home (1451 words)

	Difference Between Hard and Soft Currency - Economics Essay
		In terms of managing risks, utilizing or adopting hard currency is least likely to be a factor in the loss of funds.
		Receiving soft currency for goods, other currency or services is risky because the monetary value you receive from x amount of soft currency today, has a strong chance of becoming less valuable, even by the hour.
		The challenges of the world’s currency super powers are to maintain their economic hold and maintain their hard currency reputation.
	www.freeonlineresearchpapers.com /difference-between-hard-soft-currency (1057 words)

	Armchair World: Tips for Travelers to Eastern Europe
		If you are asked to declare valuables and currency when you enter a country, include pocket calculators, digital watches, or other electronic devices that may be rare or more expensive in Eastern European than at home.
		While U.S. dollars may be exchanged for Eastern European currencies, it is difficult or impossible to reconvert those currencies to dollars or another hard currency.
		It may be possible to obtain hard currency at the Zivnotenska Bank in Prague with a major credit card.
	www.armchair.com /info/easteuro.html (2872 words)

	"Hard Currency" - TiVo Community Forum Archive
		Currency that is sought after as a stable standard of exchange and security.
		The major hard currencies are the U.S. dollar, Swiss franc, Deutschemark, and Japanese yen.
		The export of foreign currency is limited to the amount declared on arrival.
	archive.tivocommunity.com /tivo-vb/showthread.php?postid=957059 (1271 words)

	iafrica.com \| news \| world news Zimbabwe runs short of hard currency
		Embattled President Robert Mugabe's policies have been blamed for the acute food, hard currency and fuel shortages that have crippled much of the economy in recent weeks in Zimbabwe, once known as the region's breadbasket.
		The state-run Herald newspaper attributed the cash shortage in part to the lack of hard currency in the country needed to import security paper used to print currency.
		The unofficial hard currency exchange rate is about 1 500 Zimbabwe dollars to the US dollar.
	iafrica.com /news/worldnews/197464.htm (393 words)

	"Hard Currency" Policy (Site not responding. Last check: )
		In other words, the hard currency policy seems problematic from a political standpoint.
		This essay argues that the lasting centralization of interest intermediation in Austria (defined along three dimensions of democratic corporatism) is key to explaining the remarkable support of the Austrian trade union movement for the hard currency policy and the lack of effective resistance from export industries.
		The producer-group coordination, centralized bargaining, and consensual ideology/shared expectations enable a hard currency policy by compensating distributional losers in the short run, allowing groups to internalize the macroeconomic benefits of monetary credibility, and phasing out vulnerable groups over the long run through promoting structural adjustment.
	www.austria.org /jul95/econ/hard.htm (270 words)

	LEASING-COURIER (January - February 2000, Issue 1 (7))
		Exchange rate differences caused by fluctuations in foreign currencies in relation to the ruble are to be included in the leasing company’s account of profits and losses.
		Payments are made in hard currency, but when recorded in the bookkeeping records they are converted into rubles at the rate established by the Central Bank.
		The Central Bank’s exchange rate is 27 rubles to the dollar on the date when the currency is purchased, 27.5 rubles/$ when it is recorded in a special transit account, 27.5 rubles/$ when the interest is transferred, and 25.5 rubles/$ when the fiscal period ends.
	www2.ifc.org /russianleasing/eng/lc/7/8.htm (1824 words)

	About That Trade Deficit (Dec 2004)
		The dollar is valued by foreigners because it is a form of hard currency, along with the euro, the pound and the yen. The United States is in the hard currency export business—or, to put it more subtly, the export of hard currency services.
		Hard currency is a physical good—banknotes and coins—but as a physical good per se it is unimportant and worthless. The currency-holders benefits from a number of services provided by the issuer of the currency, the US government.
		Whither the dollar, then? Demand for hard currency services will probably continue to increase. But the dollar will probably lose at least some market share to the euro. It may also lose market share to developing countries' currencies (though it could gain it). We can probably keep exporting hard currency services, i.e.
	www.lancelotfinn.com /trade_deficit.htm (384 words)

	Merk Mutual Funds: Merk Hard Currency Fund MERKX, Merk Asian Currency Fund MEAFX
		Asian currencies the Fund may invest in include, but are not limited to, the currencies of China, Hong Kong, Japan, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand.
		Hard currencies are currencies backed by sound monetary policy; sound monetary policy focuses on price stability.
		As a non-diversified fund, the Merk Hard Currency Fund will be subject to more investment risk and potential for volatility than a diversified fund because their portfolios may, at times, focus on a limited number of issuers.
	www.merkfund.com /fund/index.html (384 words)

	Iran News - Iran's delegation meets Iranian expatriates in the US (Site not responding. Last check: )
		Concerning Iran's reliance on oil, he said that on the basis of an ambitious project it is hoped that by the end of the Fourth Economic Development Plan, namely six to seven years later, the budget of the current expenditures are to be drawn up without reliance on oil revenues.
		Pointing to the warm welcome to the bonds presented by Iran on international markets and the increase in the national hard currency deposits, he said that at present Iran enjoys a high reputation in the world.
		The official said that no fluctuation in hard currency rate occurred in Iran either in the course of war in Afghanistan, or the recent battle in Iraq.
	www.iranmania.com /News/ArticleView?NewsCode=15062&NewsKind=BusinessEconomy (1300 words)

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