Convertible Currency definition

Convertible Currency means such currency as the Board may determine; “credit” has the same meaning as in the Banking Act;

Convertible Currency means any freely convertible and transferable currency.

Convertible Currency means any currency other than the CFA Franc which is freely convertible on international exchange markets, acceptable to the Party who requests a payment in convertible currency.

Examples of Convertible Currency in a sentence

• Such fair market value shall at the request of the Investor be expressed in a Freely Convertible Currency on the basis of the market rate of exchange existing for that currency on the Valuation Date.

• All monetary relief payable under this Article shall, if the Host Government so requires, be paid in Convertible Currency.

• Working Papers on Global Financial Markets 48.McKinnon, Ronald (1973): Money and Capital in Economic Development, Brookings Institution McKinnon, Ronald (1979): Money in International Exchange: The Convertible Currency System,Oxford University Press, New York McKinnon, Ronald (2013): The Unloved Dollar Standard.

• The reserves adequately covered about 13.5 months of merchandise imports or 29 months of essential imports.The gross international reserves is estimated at USD 1,182 million by end of June 2018 comprising of USD 997.400 million in Convertible Currency and INR 11.996 billion in Indian rupee.

• India’s subscription comes to US$ 216.20 million for 17,921 shares to be paid up in five annual instalments.40% of this is to be paid in Convertible Currency and 60% byway of Promissory Notes.

More Definitions of Convertible Currency

Convertible Currency means currency which is freely negotiable and transferable in international exchange markets at exchange rate margins consistent with the Articles of Agreement of the International Monetary Fund;

Convertible Currency means any currency so designated by ADB at any time;

Convertible Currency means a currency which is not a Scheme currency; “default declaration” means a declaration made by LCI under paragraph 13(1);

Convertible Currency means currency of a country which has accepted the obligations imposed by Article VIII of the International Monetary Fund Agreement.

Convertible Currency means: the dollar of the United States of America, sterling pound, Dutch Xxxx, Xxxxxx Xxxxx, Swiss Xxxxx, Japanese Yen, or any other currency used in a large extent for the purpose of conducting payments for international transactions which have ready buyers in main currency markets.

Convertible Currency or “currency of a country other than that of the Borrower” means any currency which is legal tender in a country other than that of the Borrower, the Special Drawing Rights of the International Monetary Fund, and any other unit which represents the debt service obligation of a borrowing by the Bank.

Convertible Currency means a currency which is widely traded in international foreign exchange markets (as determined, in the absence of agreement between all the parties hereto, by expert determination in accordance with Article 44 hereof).