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To do so, they bought dollars, creating upward pressure on the exchange value of the dollar.
A 13.8percentt decline in the exchange value of the euro in 1999 ate into European equity returns.
The dollar also fell against the euro, dropping 0.9percentt as the exchange value of the euro rose to $1.2305.
Anticipating worse to come, speculators began to unload dollars, moving the exchange value of the dollar even lower.
Its central bank conducts monetary policy and maintains tight control over the exchange value of its currency.
During the 1977 79 period, the average exchange value of the dollar declined by about 15 percent.
Devaluation, reduction in the exchange value of a country's monetary unit in terms of gold, silver, or foreign monetary units.
The exchange value of a commodity, by contrast, is traditionally measured by the amount of labour that goes into making it.
He added that the fund was mistaken to insist that Argentina allow the exchange value of the peso to fluctuate as a condition for negotiations.
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The most likely scenario is that the trade deficit will eventually be reined in by a decline in the foreign-exchange value of the dollar.
True, the foreign-exchange value of the yen has fallen considerably — but that's actually very good news, and Japanese exporters are cheering.
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