Convertible Currency definition

Convertible Currency means such currency as the Board may determine; “credit” has the same meaning as in the Banking Act;

Convertible Currency means currency which is freely negotiable and transferable in international exchange markets at exchange rate margins consistent with the Articles of Agreement of the International Monetary Fund;

Convertible Currency means any currency other than the CFA Franc which is freely convertible on international exchange markets, acceptable to the Party who requests a payment in convertible currency.

Examples of Convertible Currency in a sentence

• Such fair market value shall at the request of the Investor be expressed in a Freely Convertible Currency on the basis of the market rate of exchange existing for that currency on the Valuation Date.

• Transfers under paragraph (1) shall be effected without delay and (except in case of a Return in kind) in a Freely Convertible Currency.

• Money in International Exchange: The Convertible Currency System.

• All invoices shall be paid in euros or other Freely Convertible Currency within 30 days from the date of invoice (the “Due Date”) unless expressly agreed otherwise, without any deduction or withholding on account of any rights of equitable set-off which the Customer may have (save where the same are undisputed or have been finally determined in a legally binding manner).

• McKinnon, R., 1979: Money in International Exchange: The Convertible Currency System,Oxford.Micco, A., Stein, E.

More Definitions of Convertible Currency

Convertible Currency means any freely convertible and transferable currency.

Convertible Currency means any currency so designated by ADB at any time;

Convertible Currency means any freely convertible and transferable currency.”

Convertible Currency means currency of a country which has accepted the obligations imposed by Article VIII of the International Monetary Fund Agreement.

Convertible Currency means: the dollar of the United States of America, sterling pound, Dutch Xxxx, Xxxxxx Xxxxx, Swiss Xxxxx, Japanese Yen, or any other currency used in a large extent for the purpose of conducting payments for international transactions which have ready buyers in main currency markets.

Convertible Currency means a currency which is not a Scheme currency; “default declaration” means a declaration made by LCI under paragraph 13(1);

Convertible Currency or “currency of a country other than that of the Borrower” means any currency which is legal tender in a country other than that of the Borrower, the Special Drawing Rights of the International Monetary Fund, and any other unit which represents the debt service obligation of a borrowing by the Bank.