Meaning of currency operations and their types
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arily related to international estimates of current operations, as well as with the movement of investment. Even more widespread use of foreign exchange restrictions were in countries that joined the IMF recently. It is primarily, Eastern Europe, CIS countries. In these countries, foreign exchange restrictions will be gradually reduced as their entry into the market economy and a more flexible and efficient use of economic instruments in the sphere of currency regulation and the transition to the first inner and then to the total convertibility of the currency.
. On the functional role of the currency.carrying out foreign exchange transactions (foreign trade contracts, foreign currency loans, buying and selling currencies, bonds, bilateral transactions between countries - clearing, etc.) there was the need for certain terms that characterize the position and functional role of a currency used in these operations. From this point of view, monetary relations, the following terms: currency rates, currency of payment, currency, credit, currency, loan, currency notes, clearing currency, etc.prices (also referred to currency transactions) - this is one of the conditions, along with the currency of payment, which are usually agreed upon between the exporter and importer and fixed in foreign trade contracts and means a monetary unit, which expresses the price of goods in foreign trade contract or set the amount provided by the international credit. Currency prices may be the currency of the exporter or importer, the lender or borrower, as well as the currency of third countries or any international unit of account (SDR, ECU). As a rule, the currency prices in international contracts with organizations and companies of foreign countries generally use 8.6 convertible currencies (mostly the U.S. dollar, pound sterling, Deutsche mark, French and Swiss franc, Japanese yen). Agreement on the currency of the contract price is for the purpose of insurance risk to exchange rate payment.currency - the currency in which the actual payment for goods in foreign trade or settlement of international credit. In this capacity can be any currency agreed between the parties. In the calculations in a freely convertible currency in trade and economic relations with the developed Western countries usually apply the national currencies of these countries. In trade between developing countries use currencies of the developed countries.currency may coincide with the currency of the transaction, but may differ from the latter. In the latter case, the contract provision for determining the course of conversion of currency transactions in the currency of payment, specifying:
) the date of conversion (the day of payment or the day preceding the date of payment), and 2) the foreign exchange market, quotes, which are accepted as a basis, and 3) the average rate is usually between the courses of the buyer and seller (or one of them).currency currency points, which provided export credits. As a rule, they are provided in the national currencies of the exporter or importer, although in recent years, loans have become available and in the currencies of third countries or in international units of account. Ultimately, the choice of loan currency export and import operations are subject to negotiation. The state currency loan has a direct impact on interest rates and transaction costs. This is due to the existence of so-called strong and weak currencies. If credit is given to the weak currencies (Italian lira, French or Belgian franc, etc.), courses which have the general downward trend, the creditors bear the risk of depreciation of the debt and, consequently, certain losses. If credit is given to the strong currencies (U.S. dollars, Swiss francs, Japanese yen, German marks) courses which are constantly increasing, the risk of losses due to the increased amount of debt are borrowers.of the loan may not match the currency of payment. In their determination are of great importance adopted by the practice of calculations, the position of counterparties on a given foreign exchange market, their relations with credit institutions, as well as the agreed currency loan. When the loan currency mismatch and the currency of payment in the loan agreement also provides for the order conversion of one currency to another..we define the notion of quotation. The establishment of foreign exchange rates in the national (or vice versa) is called Quotes. In modern conditions the quotation by the state (national) and the largest commercial banks. There are two methods of quotations: direct and indirect.a direct quotation, adopted in most countries, including in the Russian Federation, 1,100 or 1000 units of foreign currency expressed in national currencies. For example, 1 U.S. dollar equals 4,500 rubles., 10 Japanese Yen are 350 RUB, 1 Eng. Pound 1, 444 Am. the dollar. When an indirect quotation, adopted in England and partly in the U.S. for the basis is used the national currency of the country (in England is a a.f.st. 2.350 German marks, a French a.f.st. is 7.968. Franca and t. etc.).are courses selling and buying rates, the difference between them is the bank's profit on currency transactions. Selling rate - the rate at which banks sell foreign currency for the national. Purchase rate - the rate at which banks buy foreign currency for the national.direct quotation selling rate higher than the rate of purchase. For example, in New York on 1 GBP = 1.46 am.doll. (Selling rate) and 1 GBP == 1.44 am.doll. (Buying rate).course of the buyer. At this rate the bank will gain currency. For example, the rate of 16.2200 rubles per $ 1 means that the bank is willing to buy the customer a certain amount of dollars at a price of 16.2200 per unit of U.S. currency. This relationship can save Xia in a relatively long time, but depending on the financial situation, it may change in flow tion of one day.course of the seller. At this rate the bank sells foreign currency. For example, the rate of 16.4300 rubles to the dealer a dollar means that the bank is willing to sell the customer the requested amount of dollars at 16.4300 rubles per unit of U.S. currency. The course of the seller is always higher rate buyer. The difference between the rate of the seller and the buyer's rate of profit in foreign exchange transactions s. The possibility of obtaining this profit arises from the fact that the banks actually hold in currency markets mono dipole position with regard to the overwhelming number of the Legalskih and individuals, and, taking advantage of this situation, try to sell foreign currency at a higher rate, and buy it on their national currency at a lower rate.average rate is the arithmetic mean of the course the seller and the buyer of the course. The average rate is used for economic comparisons over time, as well as in foreign trade contracts to establish rates or methods of calculation. The average rate used for reference dealers and foreign exchange markets.rate is the ratio of the two currencies, which is defined by Roe of their courses in relation to a third currency. Since the late 50s. this century is such a third currency, usually the U.S. dollar. So, if a bank wants to get the Baku cross-manat to the Iranian rial, it will then be proceeded from the traditional foreign exchange chickens both of these currencies against the U.S. dollar. In mid-1998 for 1 U.S. dollar in the currency market of Azerbaijan gave 3950 dzhanskih manats and 3000 Iranian rials. Given these data, manat to the Iranian Rial is set by the proportion of 3000: 3950, ie it was equal to 0.7594. In other words mi, 100 Azerbaijani manats Baku bank foreign exchange market could get a 75.94 Iranian rial.spot rateof the currency of one country expressed in the currency of another country, established at the time of the transaction, subject to currency exchange partner banks on the second business day following the date of the transaction. Spot rate reflects how highly regarded national currency at the time of the operation outside the country.
1.2 Currency regulation and currency control
requirements of currency regulation and currency control are set for Russian and foreign natural and legal persons in relation to the possession, use and disposal of their currency values, the implementation of foreign exchange operations, using bank accounts and represent a number of limitations listed by the currency legislation, and is established by Kazakhstan basic legal act of currency legislation governing the exchange relationship, the rights and obligations of Russian and foreign individuals and legal entities, the powers of exchange control is the law of the Republic of Kazakhstan On Currency Regulation dated December 24, 1996 №54-I.a general principle of foreign exchange transactions take place, the accounts are opened and operations on them are held without limitation, if a special procedure of currency transactions and the accounts have not been established bodies of currency control in accordance with the Act.Act operates on the concepts of resident and nonresident.residents include individuals - citizens of the Republic of Kazakhstan and s except for citizens of the Republic of Kazakhstan recognized permanently residing in a foreign country in accordance with the laws of this state, foreign citizens and stateless persons permanently residing in the Republic of Kazakhstan on the basis of residence, legal persons established in accordance with the laws of the Republic of Kazakhstan, their branches, representative offices and other units outside the territory of the Republic of Kazakhstan diplomatic missions, consular offices of the Republic of Kazakhstan and other official representative of the Republic of Kazakhstan, located outside th