Through financial instruments known as currency swaps, Hungarians had ensured that they could service debts denominated in euros or Swiss francs, but this market has dried up.
Much of its difficulties resulted from Brazilian devaluation in 1999, which made it more expensive to service debt denominated in dollars.
Hungary is feeling the effects of the credit crisis not because its banks invested in bad mortgages, but because the credit markets have dried up, depriving it of the ability to service debts denominated in currencies other than the Hungarian forint.
Amazon, for instance, charges all its Amazon Web Services customers prices denominated in US dollars.
Outpatient service costs were denominated by encounter, e.g. the cost of one directly observed therapy visit for one patient.
The present cross-sectional study was conducted with a sample of adults addicted to alcohol and/or drugs, recruited from 3 multidisciplinary outpatient public clinics, located in three cities in the state of São Paulo, denominated Psychosocial Care Centers for Alcohol and Drugs (CAPS-AD), which provide services and treatment specifically to individuals with substance disorders [ 2].
Most of the country's loans and mortgages are denominated in dollars, whereas the incomes which must service those debts are mainly in pesos.
But their debts, which are almost entirely denominated in US dollars, become more difficult to service.
The US Dollar denominated inflation adjustments projected for non-Headquarters general service staff range from 1 percent per annum in Cairo (RNE), Apia (SAPA) and Tunis (SNEA), to 5 percent per annum in Accra (RAF) and Harare (SAFR).
But the mortgages on those second homes, denominated in American, Australian or Canadian dollars, would be costly to service for residents here if their Hong Kong dollars became worth less in terms of other currencies.
"People sell dollars and buy assets priced in dollars," explains Keith R. McCullough of Research Edge LLC, a New Haven, Conn., market service, referring to assets like foreign currencies or securities denominated in foreign currencies, gold, oil or even real estate or whole companies.
