The parent of America's fourth-largest wireless operator, T-Mobile USA, cited "the extremely competitive environment in Germany and the recent foreign exchange rates development" as reasons for altering its outlook.
Short-run currency movements are famously hard to predict, but broad exchange-rate developments, and the seeming paradox of the euro's strength despite the economic and political weakness of the euro area, can be readily explained.
He said he would suspend payment of nearly €500 million, or $627 million at the current exchange rate, in development funds to Hungary next year unless Budapest made progress bringing down its deficit.
In the meantime, in the absence of R&D-specific price indices and exchange rates, the development of user-friendly interim guidelines on selecting and applying the available price indices and convertors would be a useful first step and a potential output from the newly established Observatory [ 14].
In the beginning of the 1950s, Turkey was able to stimulate its agricultural productivity growth, which was the dynamic for low inflation, a stable exchange rate and industrial development.
Across countries, the magnitude of the fiscal multiplier is also likely to depend on several country-specific factors and market characteristics, including the level of economic development, exchange rate regime, openness to trade, and public debt dynamics [ 31, 32].
He spent a decade at the IMF in the 1970s and 1980s, helping to manage the Fund's exchange rate surveillance procedure and to analyze developments in international capital markets.
"In this international financial crisis of a kind rarely seen in history, maintaining the basic stability of the renminbi exchange rate has benefited China's economic development and benefited world economic recovery," Mr. Wen said.
The British government has sunk $2.1 billion £1.11 billion, at current exchange rates) in the development of the JSF.
"Shopping doesn't make sense here because of the exchange rate," said Ms. Zad, who works in real estate development.
