Two kinds of capital stand out: short-term debt, and debt denominated in foreign currency.
European markets are also down sharply today and we're seeing steep drops in foreign currency markets.
Banks raised billions in foreign currency and passed them on as won to Korean firms.
Let the currency do the dirty work, in this case, means lowering domestic wages in foreign currency terms.
FORBES: Brazil's Strengthening Currency Poses Competition Problem
It would then arrange to have an equivalent amount in foreign currency deposited in the client's accounts offshore.
WSJ: Chongqing Court Convicts 18 of Running $10 Billion Money-Smuggling Ring in China
By contrast, Iceland's own banks accounted for all its banking liabilities, and most of these were in foreign currency.
ECONOMIST: The pound��s plunge is hurting, but pain is part of the remedy
Hungarians have borrowed hugely in foreign currency, assuming the euro is a certainty.
What would really help the market, and stocks like Canon, whose earnings are largely in foreign currency, is depreciation of the yen.
Scandinavian banks were drawn to Luxembourg because they could deal in foreign currency there, which at the time was prohibited at home.
And it weakens exchange rates, hurting households that borrowed in foreign currency (a big problem in Hungary, and, to a lesser extent, in Poland).
ECONOMIST: Eastern Europe��s economies: Some calm amid storms | The
Unfortunately, it would also bankrupt any firms or banks that had borrowed heavily in foreign currency in the belief that the traditional parities were sacrosanct.
Before November 2001, Lawrence had never invested in foreign currency other than trading U.S. dollars against the Mexican peso back when he was a busboy and waiter.
The amounts they raise on global capital markets are pretty trivial: less than 2% of South Korean and Singaporean government debt is denominated in foreign currency, for example.
ECONOMIST: The new problem with Asian sovereign debt��scarcity
And the pace of sales is likely to be dictated largely by movements on the world's currency markets to bring in foreign currency at the best rate possible.
The chief justice - the most senior judge in the country - denies keeping undisclosed bank accounts, amassing undeclared sums in foreign currency or engaging in financial misconduct.
As a minister, he once boarded a plane to a Socialist International conference in Europe without a penny in foreign currency, carrying only a leather-bound volume of Hazlitt.
The government wants to remove Ms Bandaranayake because it says she has kept undisclosed bank accounts and has amassed undeclared sums in foreign currency or engaged in financial misconduct.
Even if inflation remained moderate, many firms as well as the government would default on loans, since 90% of government debts and 80% of private-sector debts are in foreign currency.
The government has abolished jail terms for those caught dealing in foreign currency, offered extra incentives for private investment and brought the official exchange rate closer to the black-market one.
But as their currencies slide, the big vulnerability for the Poles, Hungarians and Romanians, especially, arises from the debt taken on by firms and households in foreign currency, mainly from foreign-owned banks.
Mr Tsvangirai has sought to secure their loyalty by promising that civil servants, many of whom have been on strike for months, would be paid in foreign currency instead of worthless Zimbabwean dollars.
ECONOMIST: Will Morgan Tsvangirai wield real power? Not yet, it seems
Best Buy said the jump was driven by the addition of new stores, expanded investments, the timing of discretionary expenditures and the impact of other nonrecurring items, as well as fluctuations in foreign currency rates.
And a more serious drawback, seen in Thailand, is that by appearing to eliminate currency risk a fixed rate encourages firms and banks to borrow heavily in foreign currency at cheaper interest rates than on domestic funds.
Latvia's flexible economy may fare better than the political system, which is notable for fragmented parties, squabbling mediocrities, dodgy business lobbies and abuse of power (the security police briefly arrested an economics lecturer who urged people to keep their savings in foreign currency in cash).
ECONOMIST: Latvia has chosen economic torture over complete collapse
Most mortgages in Hungary are denominated in a foreign currency, in particular the Swiss franc.
But now that most major currencies float, they play a less important role in foreign-currency markets than they did in the Bretton Woods era of fixed exchange rates.
In the foreign currency space, investors seem to have shifted allocations from comparatively expensive low-beta names in Latin America like Colombia into Asian currencies with upside potential.
FORBES: For Global Investors This Year, U.S. Stocks Not A Favorite
In effect, countries will be borrowing in a foreign currency without control of the printing presses.
Since they will be in a foreign currency, the issue will not be affected by Malaysia's capital controls.
应用推荐