Easy, if you could get greenbacks at the subsidized import rate of 1, 750 rials to the dollar and resell them at the market rate of 8, 000 to the dollar.
The tariff ceiling for agriculture products is expected to drop to 10.8% from 13.2% and for manufactured goods it will go from 9.5% to 7.3% The final bound import rate will be in place on the date of entry into the WTO on most goods, with roughly 25% of future tariff cuts to be implemented three years later.
One reason the strengthening of the yuan will play into the hands of the Chinese consumer is that a stronger exchange rate cheapens import prices, giving consumers greater purchasing power.
Over the weekend, it also increased the base rate for calculating import taxes on the precious metal, another measure to make imports costlier and bring down demand.
Section 604 of the 1974 Act (19 U.S.C. 2483) authorizes the President to embody in the HTS the substance of the relevant provisions of that Act, and of other acts affecting import treatment, and actions taken thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.
Section 604 of the 1974 Act authorizes the President to embody in the HTS the substance of relevant provisions of chapter V of that Act, and of other Acts affecting import treatment, and of actions taken thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.
Sterling's rise from around DM2.30 in August 1996 to above DM3 early last year, and its continued strength since then, squeezed import prices, cutting the inflation rate directly, and slowed down the tradable sector of the economy.
Similarly, they may raise rates if a weak exchange rate threatens to push up import prices.
Moreover, a rising pound has fed directly into lower import prices and hence kept the inflation rate down cutting the rate by perhaps a percentage point, thinks David Mackie of J.
There was only one low level report scheduled from the euro area today and that was German Import Prices which increased to a growth rate of 0.6% on a month-over month basis.
To alleviate a spare-parts shortage that is slowly crippling transportation, the company of the president's second son Bambang Trihatmodjo recently got permission to import parts at a state-subsidized exchange rate of 5, 000 rupiah to the greenback.
Economists reckon that in the 1990s only about half of an exchange-rate change had worked its way through to manufacturing import prices after a year.
Venezuela's government has stopped issuing import permits, nor is it providing dollars at the official exchange rate for imports from Colombia (a dollar costs almost three times more on the parallel market).
ECONOMIST: Hugo Ch��vez stamps out regional economic integration
The strong pound has certainly helped to lower inflation so far this year to an underlying annual rate of 2.7% in March by keeping down import prices.
In the first instance, this would allow Timor to import 45, 000 cars wholly made in South Korea free of duty (the tariff rate for other cars entirely made abroad is 125%).
Nonpetroleum import prices were up an annualized 2.4%, compared to declining at a 5.4% annual rate in January 2002--a 7.8% swing in 14 months.
应用推荐