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Exchange rate fluctuations

The Twenty-fifth Meeting of the Executive Committee decided that contributing parties which issued promissory notes in currencies other than the United States dollar should be responsible for the upward or downward movement of the value of their promissory notes due to exchange rate fluctuations. The variance between the value of the note when it was deposited and the value of the note when it was cashed should be credited or debited to the account of the note-issuing party and reflected in the contribution due from the party in the following year.

(UNEP/OzL.Pro/ExCom/25/68, Decision 25/2, para. 23(c)).


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