Both agreements are designed to create favourable conditions for developing reciprocal trade and direct investment to be made in their national currencies
Some banks will change national currencies
into euros from January 1, 2002.
974/98, the council was busy devising a legal framework for the conversion from national currencies
to the euro during the transitional period and, of course, the withdrawal of national currencies
and mandatory use of the euro beginning January 1, 2002.
In presence of the prime ministers heads of national banks signed agreements on mutual settlements in national currencies
and on currency swap tenge/yuan, Itar-Tass reported.
The Bank of Russia and the Reserve Bank of India have agreed to set up a working group to devise tools to use national currencies
in bilateral payments.
Steil advocates what other one-worlders have previously proposed: supplanting national currencies
with three world currencies--the dollar, the euro, and an Asian currency.
But what has now ceased to exist is the floating exchange between national currencies
that existed in Europe.
With national currencies
and the euro working alongside each other for the next three years, dual pricing in shops has been a continental feature for months.
The persistence of national currencies
throughout the EC clearly impedes the full realization of the potential benefits of the single-market program.
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Meantime, Russian Economic Development Minister Alexey Ulyukaev said that Moscow plans to enhance export of its goods to Iran, adding that the two countries are working on developing ways to make mutual payments in national currencies
The main aim of the program is to reduce dollarization of economies and dependence upon external financing, reduction of currency and economic risks, promotion of use of national currencies
The High Street banks, Thomas Cook and American Express plan to issue euro travellers' cheques in the new year when the single currency starts working, alongside the 11 national currencies
, but only in commercial dealings.
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TEHRAN (FNA)- Russian Economic Development Minister Alexey Ulyukaev said that Moscow plans to enhance export of its goods to Iran, adding that the two countries are working on developing ways to make mutual payments in national currencies