Common use of Currency Exchange Rates Clause in Contracts

Currency Exchange Rates. The exchange rate shall be determined monthly, based on the arithmetic average of the closing buy and sell rates for the Dollar against the CFA (Communaute Financiere Africaine or Africa Financial Community) currency unit for the month, as published by the Bank of Central African States (BEAC). The exchange rate of the preceding calendar month shall be used for exchange transactions and for the purpose of determining the counter value of Dollars in the Equatoguinean currency unit for the next month.

Currency Exchange Rates. The exchange rate shall be determined monthly, based on the arithmetic average of the closing buy and sell rates for the Dollar against the CFA (Communaute Financiere Communauté Financière Africaine or Africa African Financial Community) currency unit for the month, as published by the Bank of Central African States (BEAC). The exchange rate of the preceding calendar month shall be used for exchange transactions and for the purpose of determining the counter value of Dollars in the Equatoguinean currency unit for the next month.