With this, Indian rupee will join the select club of currencies such as the US dollar, British pound sterling
, euro and Japanese yen that have a clear distinguishing identity," he said.
Had the exchange rate for the British pound sterling
remained unchanged, the REBITDA for frozen vegetables would have been 5.
The Malawi President Bingu wa Mutharika (above) had strongly resisted pressure from local economists and the international donor community for a depreciation in the local currency--the Malawi kwacha--as a response to the recent world market dictates that have seen the devaluation of major currencies, such as the US dollar and the British pound sterling
, among others.
amp;bull; The performance of the HFRI Fund Weighted Composite is now available hedged into four foreign currencies, including Euro, British Pound Sterling
, Swiss Franc and Japanese Yen.
We are more than happy with the first quarter figures because these were achieved in an environment marked by a strong slowdown of growth in several markets and by the significant weakening in the value of the British pound sterling
,' said Dr Oesterle.
The ECU is a currency basket whose value is based on the currencies of the eleven euro participants, as well as the Danish krone, the Greek drachma, and the British pound sterling
, whose issuers will not initially be among the euro group.
For example, in 1992, George Soros and other speculators attacked the British pound sterling
, and successfully "broke" the Bank of England -- which early in the 20th century had been the world's most powerful central bank.
In the immediate aftermath of the Brexit vote, the British pound sterling
hit both a six-month high and a six-month low within the same day-peaking at over $1.
But Soros said recent strength in the British pound sterling
was a sign that a vote to exit the EU is increasingly less likely.
The most direct notable impact could come from a drop in the exchange rate of the British pound sterling
vis-a-vis the euro, while further side effects in the form of political uncertainty in Europe cannot be ruled out, they said.
During the month, Clearinghouse of the Exchange, DCCC expanded its acceptable collateral portfolio and started accepting currencies like Euros, British Pound Sterling
and Japanese Yen in addition to UAE Dirhams and US Dollars.
With this, the rupee will join the select club of currencies, such as the US dollar, British pound sterling
, euro and Japanese yen that have a clear distinguishing identity, he added.