Highly leveraged local governments could not tolerate higher interest rates or an appreciating currency, and they were adamant about continuing land sales and opposing property taxes.

Some are not keen on a local currency though.

Is Italian euro debt denominated in local or foreign currency?

It tied the local currency to the British Pound, giving local authorities no discretion in monetary policy.

And how often do we hear about sovereign restructurings of local currency debt?

The economic woes in Ukraine have been hitting the local currency, hryvnya, hard.

Often those who purchase dollars do so out of concern of local currency devaluation.

In 2012, Chinese local governments received 2.9 trillion ( 475 billion) in revenue from land and property sales, compared with 6.1 trillion in other local revenue.

In February, Caracas was forced to devalue the local currency to 6.3 bolivars per dollar.

At each stop on the tour, the band donated 100 percent of tickets sales to a local charity organization.

Sales tripled. Why?

Bachelors' Day Sales

Sales are down.

Sales are down now.

Our sales are decreasing.

Their sales are growing.

Beer sales are up.

Sales were going great.

Central Reserve Bank of Peru (BCR) recalled that the change of currency was due to the invasion of feeble Bolivian currency that, since 1840, entered the country through the Southern zone, thus provoking confusion with the local currency.

Sales are down this month.

Sales should double this year.

Our sales doubled this year.

That supermarket sometimes has sales.

Ticket sales will begin Monday.

Ticket sales will begin Monday.

Sales will continue to grow.

Sales have increased 30 percent.

These markets have been insulated in part because most investment in real estate backed securities has come from local investors who often need to invest in local currency markets.

Local currency bond markets could help to develop domestic investor bases and mobilize domestic savings to support long term investments.

Since Hong Kong's currency board prevents inflation in HK dollar prices, the HK dollar prices of local goods must fall.

Currency Chaos

Consider US arms sales to Taiwan.

You're 37 percent better at sales.

The sales girl waited on me.

Do you have any sales experience?

Most also have a relatively smaller share of dollar debt relative to local currency debt than they did a decade ago, which will limit the increase in their debt burden when the currency depreciates.

Argentina was stuck with its currency board and overvalued currency.

Nepali currency became the standard currency in trans Himalayan trade.

In most countries, such intervention would tend to push up inflation, because the central bank issues local currency in return for dollars.

Oil Currency Hypocrisy

Controlling China s Currency

The Currency Quandary

Currency of payments

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Glencore raises 2.5 billion in share sales