Despite the presence of these sophisticated bankers in India, treasurers still face problems, chief among them currency convertibility
After unifying the dual exchange rates of the Chinese currency renminbi (RMB) and implementing a managed-float system on January 1, 1994, China formally committed itself to partial currency convertibility
, that is, currency convertibility
under the current account, in December 1996.
Section 2 describes the exchange rate data utilized in this study and the methodology employed to evaluate whether the official exchange rate was appropriate for introducing currency convertibility
As a practical matter, however, countries in which privatization is a priority also moving simultaneously to reduce restrictions on capital flows and currency convertibility
Likewise, in China, the absence of currency convertibility
-- together with a weak financial supervisory framework, which reflects a broader problem related to poor implementation of the rule of law -- is impairing the economy's prospects for leadership.
and controls over capital movements are also matters for consideration.
measures are meant to convenience those tourists and Taiwanese traveling to China via the direct weekend charter flights.
Coordinating with Beijing on how to realize Ma's goals, as well as hammering out the details of achieving currency convertibility
between China's yuan and the Taiwanese dollar in Taiwan and fully opening up the island to Chinese tourists, are likely on Chiang's agenda as his trip to China nears.
the first positive and undoubtedly promising results of price stability, currency convertibility
, deregulation, and privatization.
True currency convertibility
still does not exist, although recently the official rate of exchange for the dollar was only 30 percent below black-market standards, which is good for Eastern Europe.