1. Credit cards or local currency accepted. 2. Devaluation will increase the local currency costs of servicing foreign currency-denominated debt. 3. Prices are set in local currencies. 4. These are combined to give an overall requirement which is grossed up for tax and converted into the local currency. 5. They also need to know what the local currency is, the exchange rate and the rate of inflation. 6. The purchasing power of the local currency has halved. 7. The local currency is the Swiss franc. 8. The demand for foreign currency depreciates the real value of local currencies. 9. The government also committed itself to meeting all the foreign exchange requirements of exploration companies, which were paid for their share of oil and gas in local currency. 10. Already, officials across the region are attributing a weakness in local tourism industries and in local currencies to jitters about contagion from Zimbabwe. |