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MF has foreign exchange, fixed-income, equities and commodities businesses.
Although Brazil has foreign exchange reserves that exceed $200 billion, she says financing currently depends on short-term capital speculating against Brazil's currency, the real, which will lead to a dramatic rise in the price of the dollar.
China now has foreign exchange reserves valued at a staggering $3.26 trillion.
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The Bank of Indonesia had foreign exchange reserves of $93 billion as of Aug. 30, the most recent date available.
In 1998, Sobinbank had foreign exchange transactions totaling 3.14 billion Russian rubles (about $515 million before the August 1998 devaluation and about $110 million at current rates) with one related party that the bank refused to name.
As India and other countries have emphasised, they have foreign exchange reserves that can cover six months of imports, which gives them some protection.
"None of the other countries have foreign exchange controls, but they all have lower interest rates [than before] and stable currencies".
Foreign Exchange Impact on Google Revenues – Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the first quarter of 2012 through the second quarter of 2012, our Google revenues in the second quarter of 2012 would have been $68 million higher.
Foreign Exchange Impact on Google Revenues – Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the third quarter of 2012 through the fourth quarter of 2012, our Google revenues in the fourth quarter of 2012 would have been $130 million lower.
Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the fourth quarter of 2011 through the fourth quarter of 2012, our Google revenues in the fourth quarter of 2012 would have been $193 million higher.
Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the second quarter of 2011 through the second quarter of 2012, our Google revenues in the second quarter of 2012 would have been $350 million higher.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com