You are not a balance sheet, at least not one denominated in money, as was explained to me recently.
The experiment was using token money denominated in New Taiwan Dollars.
BLOOMBERG NEWS JPMorgan Moveses to Stem Losses in Money Funds | JPMorgan Chase plans "to offer clients of its two large euro-denominated money market funds a way to address losses from investing in short-term bonds where interest rates have fallen sharply," The Financial Times writes.
We surmise that the coefficient of the exchange rate is insignificant because in Uganda mobile money is denominated in shillings and the bulk of bank credit is shilling, rather than foreign, denominated.
Have you ever wondered why our money is denominated in decimals, rather than the medieval division of 12 pennies to the shilling, 20 shillings to pound used by the United Kingdom until the 1970s?
The central bank's move, aimed at halting a stampede of money into assets denominated in dollars, reflected the growing sense of crisis in the Philippines, where President Joseph Estrada is immersed in financial scandal and has refused widespread calls for him to resign.
Or they can buy CYB, an ETF sponsored by Wisdom Tree Dreyfus which invests in securities meant to be an economic interest in money market securities denominated in the Chinese yuan.
Central Huijin, controlled by the central bank and the foreign exchange administration, now plays an active role in placing the money in various investments denominated mainly in dollars.
Some of those outflows reflect wealthy individuals attempting to convert their money into dollar or euro denominated assets such as real estate and investments abroad.
In addition, because of their ability to create money, governments can always repay debt denominated in their own currency, albeit at the risk of inflation.
As markets digested the news, the currency strengthened.Swiss francs are not an exotic currency in Hungary: about 70 per cent of consumer and small business lending is foreign-currency denominated, and most of that is in Swiss money.
