Exchange Rate Developments Sample Clauses

Exchange Rate Developments. 107. The performance of the Namibia Dollar was mixed over 2011, experiencing appreciation against the US Dollar but depreciation against the British Pound and the Euro. The appreciation was largely due to uncertainty over US Government debt and political brinkmanship resulting in delays in raising the debt ceiling. The Euro‟s strengthened position was attributable to the implementation of remedial measures aimed at attempting to mitigate the effects of the debt crisis and the European Central Bank‟s prudent monetary management policies. 108. The depreciation/weakening of the Namibia Dollar has been in line with other emerging market currencies, as global risk aversion continues (and investors favour „safe ▇▇▇▇▇▇‟ such as Germany).