This equivalent nonconvertible bond price is then compared to the convertible bond price.
|
|
Cuba gets by with a nonconvertible currency because it's a largely closed society with an authoritarian government.
|
|
They are hybrid securities having investment characteristics similar to a combination portfolio of common stocks and nonconvertible corporate bonds.
|
|
Additionally, this may result in greater volatility in the market price of the Convertible Debentures than would be expected for nonconvertible debt securities.
|
|
Paper money was used for various kinds of payments and grants by the government, but it was always nonconvertible and, consequently, lost value disastrously.
|
|
This complication is circumvented by using the matrix approach described earlier to obtain a first crude estimate of the price of the equivalent nonconvertible bond.
|
|
In 1962 Mali issued its own nonconvertible currency, although Keita entered into monetary negotiations with the French in 1967 to prop up a sagging economy.
|
|
To qualify as a private issuer, the company must amend its articles to provide for restrictions on the transfer of securities, other than nonconvertible debt securities.
|
|
This allows us to get a first yield spread estimate and, thus, a first price estimate of the equivalent nonconvertible bond for a greater number of convertible bonds.
|
|
Contributions shall be expressed in Swiss francs and shall be made in freely convertible currencies, except to the extent that the Director General finds that nonconvertible currencies may be utilized by the Organization.
|
|
At duty stations where there are two types of local currency, one being convertible while the other is not, the portion payable in the currency of the duty station shall be paid in nonconvertible local currency.
|
|
He changed branch offices of Zhongshu Sheng to those of Shangshu Sheng to strengthen monopoly in salt and other goods. He issued new bills (Jiaochao) called Zhida-yinchao () to replace Zhiyuan-chao (). His anti-inflation plans did not achieve adequate results in his short reign, and dissatisfied Han Chinese officers and commoners. He attempted to push through a new nonconvertible silver currency but was defeated by public resistance.
|
|
Freely convertible currencies have immediate value on the foreign exchange market, and few restrictions on the manner and amount that can be traded for another currency. Free convertibility is a major feature of a hard currency. Some countries pass laws restricting the legal exchange rates of their currencies or requiring permits to exchange more than a certain amount. Some currencies, such as the North Korean won, the Transnistrian ruble, and the Cuban national peso, are officially nonconvertible and can only be exchanged on the black market.
|
|
Soviet officials admitted that pricing was "economically unsubstantiated" and "unrealistic." They understood that although a fully convertible ruble would not be possible for some time, prices that more accurately reflected production costs, supply and demand, and world market prices were essential for developing a convertible currency. The nonconvertible ruble and the Soviet pricing system discouraged Western businessmen who could not accurately project production costs nor easily convert their ruble profits. The new joint venture law, passed on January 13, 1987, opened up the Soviet economy to foreign participation, particularly in manufacturing.
|
|
However, progress varied geographically, with most prosperity concentrated in urban areas, particularly in and around Ho Chi Minh City. In general, rural areas also made progress, as rural households living in poverty declined from 66 percent of the total in 1993 to 36 percent in 2002. By contrast, concentrations of poverty remained in certain rural areas, particularly the northwest, north-central coast, and central highlands. Government control of the economy and a nonconvertible currency have protected Vietnam from what could have been a more severe impact resulting from the East Asian financial crisis in 1997.
|
|
Great opposition was raised by the representatives of the debtor class in congress to the suppression of the nonconvertible paper money, but in the end President Montt carried the day, and on February 11, 1895 a measure finally became law establishing a gold currency as the only tender in Chile. In July 1896, the Conversion Act was put in force, a dollar of 18d. being the monetary unit adopted. In 1895, relations with the neighbouring republic of Argentina began to become somewhat strained in regard to the interpretation of the treaty concerning the boundary between the two countries.
|
|
Additional instructors were brought from Germany, and all arms of the military service were placed on a thoroughly efficient footing in matters of drill and discipline. Several new and powerful cruisers were added to the navy, and the internal economy of this branch of the national defence was thoroughly inspected; many defects were remedied. President Montt then took in hand the question of a reform of the currency, the abolition of nonconvertible paper money, and the re-establishment of a gold monetary standard for the republic. This reform of the currency became the keynote of the president's policy during the remainder of his term of office.
|
|