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Commodity Prices and Development$
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Roman Grynberg and Samantha Newton

Print publication date: 2007

Print ISBN-13: 9780199234707

Published to Oxford Scholarship Online: January 2008

DOI: 10.1093/acprof:oso/9780199234707.001.0001

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Estimating Foreign Exchange Loss due to Declining Commodity Prices

Estimating Foreign Exchange Loss due to Declining Commodity Prices

(p.163) 6 Estimating Foreign Exchange Loss due to Declining Commodity Prices
Commodity Prices and Development

Mohammad A. Razzaque

Philip Osafa‐Kwaako

Roman Grynberg

Oxford University Press

This chapter reviews the foreign exchange losses suffered by LDCs, HIPCs, and SVS through the sustained weakness in relative prices of primary commodities. Falling real prices of commodities have caused lower purchasing power of primary exports, on which most of these countries rely predominantly for financing their imports. The resultant foreign exchange losses relative to the total primary and merchandise exports of many of these countries are quite substantial.

Keywords:   foreign exchange losses, real prices, purchasing power, primary exports, merchandise exports

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