A South African taxpayer’s taxable income must be determined in rands. Several provisions of the Income Tax Act (the Act) relate to foreign currency transactions and the interaction of these provisions is complicated. A taxpayer needs to determine the provision that applies to his foreign transaction. It will then provide the rule or method that needs to be applied to his foreign transaction. If an amount is in a foreign currency, it must be translated into rands. If there is an exchange item, a foreign exchange gain or foreign exchange loss must be taken into account. If an asset is disposed of or acquired in a foreign currency then a capital gain or capital loss must be calculated when it is disposed of. Examples of typical foreign exchange transactions have been provided, discussed and analysed in this dissertation. The provisions in the Act that are relevant to the foreign exchange transactions have been identified and the interaction between them has been considered. Potential difficulties because provisions in the legislation contradict each other or do not cater for a particular situation were identified. Also possible tax-saving opportunities have been identified. / Thesis (M.Acc.)-University of KwaZulu-Natal, Westville, 2010.

The foreign exchange market plays an important role in global finance, as it is considered to be among the largest financial markets in the world because of the significant amount of money involved in the foreign exchange market's transactions. Economic theories show that the exchange rate market may interact with the stock market index, but empirical studies on the interaction between the exchange rate market and the stock market index produced mixed results. Thus there is no empirical agreement regarding the interactions between the stock prices and exchange rate. This study examined the interaction between the real exchange rate and the stock market index in South Africa, with the aim of identifying the effect of exchange rate shocks on the Johannesburg Stock Exchange (JSE). It establishes the direction of causality between the stock market index and the real exchange rate; identifies the long-run and short-run relationships between the South African stock market and the exchange rate and determines the response of the South African stock market to different exchange rate regimes from 1978 to 2008. This study used different econometrics models, including descriptive statistics analysis, Engle-Granger cointegration approach, Error Correction Model and a Granger-Causality test. Variables used in this study include the real values of the JSE all share index and the real exchange rate series (the Rand/U.S. dollar exchange rate) from January 1978 to December 2008. The stock market index responded to changes in exchange rate regimes. Although the response tended to be slightly stronger during the period of the free floating exchange rate, correlation coefficients were insignificant in both fixed and flexible exchange rate regimes. A negative long-run relationship between the real exchange rate and the stock market index was found. The short-run results established that changes in the real exchange rate have no impact on the real stock market index. Granger-Causality tests indicated that there is a bidirectional causal relationship between the South African stock market index and the Rand/U.S. dollar exchange rate. / Thesis (M.Com.)-University of KwaZulu-Natal, Pietermaritzburg, 2011.

This thesis principally studies the determination of UK export performance between the wars. Several improvements to the measurement of sterling's nominal and real effective exchange rate in the period are implemented, and the path of the exchange rate is related to UK and foreign exchange rate policies. The nature of competitiveness and the demand and supply mechanisms by which it may influence exports are discussed. In the light of this, and the commodity and geographical breakdown of UK exports, we suggest alternative measures of competitiveness which may appropriately be tested in econometric work. Aggregate UK export volume and price equations for the inter- war period are then estimated. Competitiveness, which is in turn influenced by the exchange rate, and the economic position of primary producing countries, are found to have had significant effects on UK export performance. Similarly specified equations are estimated for UK exports in eight industrial sectors. Distinctive characteristics of sectors may lead to substantial divergences between sectoral and aggregate behaviour. This is confirmed in further work on UK coal exports. Nevertheless, measures of the price of UK exports relative to the price of exports of other industrial countries generally give explanations of UK export performance which are superior to other competitiveness measures. A substantial statistical appendix containing data on, inter alia, UK and foreign exchange rates, trade volumes and values (with geographcial and commodity breakdown), labour costs and prices, together with the sources and methods used in their construction, is provided both for historical interest and to facilitate replication of results and further research.

The thesis assesses the costs and benefits of Namibia's membership of the CMA to determine whether the CMA is an optimal currency area at least from the perspective of Namibia. This issue is examined from two main perspectives: (a) whether real exchange rate (RER) adjustment is frustrated by the inability to use the nominal exchange rate as an instrument of adjustment. Evidence of persistent RER misalignment may be seen as a necessary condition for an independent nominal exchange rate regime, however, it is not sufficient.(b) In this case, we examine whether nominal devaluations will have sustained effects on RER adjustment, given Namibia's structural features, such as the high degree of openness and a small nontradable sector. An equilibrium RER for Namibia is estimated using a single equation model of RER determination. The model is used to compute RER misalignments to determine whether there are sustained long periods of misalignments. To test whether nominal exchange rates can be effective in changing relative prices, a simple model was developed to measure pass-through of foreign price and exchange rate changes to domestic prices and wages. This provides useful information regarding whether nominal devaluations can be sustained. The results show that RER misalignments have been small, while the extent and speed of pass-through is complete and instantaneous for most items, suggesting that nominal devaluations in Namibia are not likely to have real effects. Even if it was the case that monetary autonomy cannot be supported on grounds of affecting relative prices, it may nevertheless be important for Namibia to pursue an independent exchange rate strategy. To examine this possibility, the analysis was extended by looking at costs and benefits of OCAs which do not rely on the ability to change relative prices. Benefits arising from savings on transactions costs and on foreign exchange reserves amounted to 3.8% and 2.4% of GDP, respectively. Further, we demonstrated that past "shocks" between Namibia and South Africa were highly correlated. The findings of the thesis suggest that the CMA is an optimal exchange regime for Namibia.

Thesis (Ph.D.)--Auburn University, 2005. / Abstract. Vita. Includes bibliographic references (ℓ. 164-173)

Thesis (M.Com. (Economics & Economic History)) - Rhodes University, 2008. / A thesis submitted in partial fulfilment of the requirements for the degree of Master in Commerce (Financial Markets)

Thesis (M.S. Eco.)--Baylor University, 2008. / Includes bibliographical references (p. 68-70)

The debt crisis may be sleeping rather than dead-- and may well be aroused as interest rates rise again. Debt reduction and policy reform-- including fiscal reform and privatization-- improved access to capital markets in the 1990s for some developing countries that had debt servicing problems in the 1980s. Overall, however, access to capital markets depends mostly on international interest rates. / "July 1994"--Cover. Includes bibliographical references (p. 29-30). Also available on the World Wide Web.

Thesis (Ph. D.)--University of Notre Dame, 2006. / Thesis directed by Nelson C.Mark for the Department of Economics and Econometrics. "July 2006." Includes bibliographical references (leaves 90-96).

Thesis (M.B.A.)--University of North Carolina Wilmington, 2008. / Title from PDF title page (viewed May 28, 2009) Includes bibliographical references (p. [39]-42.)