CURRENCY OF UKRAINE AND OTHER COUNTRIES
Task 1. Read the text and write out unknown words HRYVNIA-THE OFFICIAL CURRENCY OF UKRAINE
Hryvnia was introduced on September 2, 1996 right after the celebration of Ukraine Independence Day. It replaced the old "Coupon" (or "Karbovanets") which was a temporary bill in Ukraine for the period it was leaving the rouble zone. The name of "hryvnia" is very old - at least seven centuries old. In the 17th century Hetman Bohdan Khmekytsky tried to introduce new hryvnia currency but not with much success. Hetman Mazepa, in the 18th century made another attempt that also failed. Two centuries have passed since then and now we have hryvnias in circulation. Now it is the only legal tender in Ukraine and since August 1995 all business transactions are required to be in hryvnia. Hryvnia can be freely converted to hard currency in any authorized bank or exchange point. There are several protection layers in Hryvnia bills to ensure their safety. Ukrainian hryvnia bills of all denominations are made of special white paper with watermarks in all parts of each bill. On the face side of bills of all denominations one can see portraits of prominent figures of history and culture of Ukraine. In the centre of the backside one can see historical and architectural monuments of Ukraine. Protection from forgery is achieved through the design. Watermarks, seen if one looks at the bill putting it against the light. Nowadays national currencies are considered to be as strong as the national economies, which support them. For example, today our Ukrainian currency "hryvnia" has value only because the Ukrainian government stands behind it.
THE EURO The single European currency, the euro, was launched on 1 January 1999. Since that time the € sign has become as familiar as the $ or £. A stable currency whose owners are as big in world trade as the European Union is attractive to a lot of international investors who want to be less dependent on the dollar. A single currency has potential benefits for the economy of every European Union's country, in particular, as well as for all member states in general. Among the advantages the following can be pointed out: ♦ lower transaction cost: the euro makes commerce within the EU easier by abolishing the currency exchange mechanism. This, in turn, provides for lower transaction cost. ♦ transparent price differencies: the single currency makes price differencies in different countries of the Euro zone more obvious. ♦ reduced costs: for customers, in particular, to travel to other countries; easier and less expensive transfer of funds to other countries; secured purchasing power owing to lower inflation; more sustainable economic growth, which will increase employment.
AMERICAN CURRENCY American currency (money) consists of dollars and cents. Cents are made of different metals. Dollars are printed on paper. In America there are the following bills (notes):
A two-dollar bill. A twenty-dollar bill. A five-dollar bill. A fifty-dollar bill. There is also a one hundred dollar bill, a five hundred dollar bill and a one thousand OTHER COUNTRIES' CURRENCY
Task 2. Give the English for temporary bill exchange point protection layers watermarks prominent figures national currencies єдина європейська валюта стабільна валюта всесвітня торгівля Європейський союз приваблива для інвесторів перевага вартість угоди прозора різниця в цінах мандрувати скасувати механізм обміну валюти знижувати вартість переказ грошей купівельна спроможність зайнятість усталене економічне зростання Task 3. Match words from list A with words from list В that have a similar meaning
Task 4. Find suitable opposites to the following words general to stop attractive stable dependent advantage employment hidden to establish in general
Task 5. Look at the words and phrases. Match them with the correct definition from the list below purchasing power, transaction cost, cost, benefit, investor, convertible currency, inflation, currency, single market, euro, European Union 1. a free trade association with a common currency and unrestricted movement of capital goods and people between countries 2. the unit of currency of the European Union 3. the coins and banknotes that belong to a particular country 4. money that can be exchanged for the currency of another country 5. the price of something 6. the rise in prices resulting from an increase in demand for goods and services and lowering of currency's value 7. a person who puts money into a business idea or activity in the hopes of making more money if the idea is successful 8. a group of countries in Europe working to create a stronger world market for European goods and services 9. gain, positive result 10. the amount of money that a person, an organization or a country has to buy goods and services 11. the amount of money spent on a piece of business done
Task 6. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian 1. A.................................................. leads to greater economic and monetary integration. 2. In the EU all business going through banks is now transacted in...................................................... 3. The advantages of the single European currency are.................................................... 4. The tourist changed a traveller's cheque into local........................................................ 5. Increased incomes have led to increased........................................................ in the country. 6. This contract is very attractive to our company. It has many.......................................... 7. We had to increase prices last year just to cover our.................................................. of doing business. 8. The government............................................... the tax on food. 9. My life is more...................................................... since I found a job. 10. It is................................................ that the single market will work much better with a....................................................... single currency; obvious; stable; abolished; costs; advantages; currency; euros; single market, purchasing power, transparent.
Task 7. Fill in the missing prepositions The Euro The euro is the unit.................... currency....................... the European Union. It has real practical advantage.......................... example, it is easy to compare prices..................... the same goods..................... different member states. It is easier to spot the bargains...................... other countries and to buy there,..................... mail order or................. shopping.......................... the Internet. Another benefit is obvious when you travel........................ the EU as you do not have to keep changing money and paying the charges. Europe's economy is now built........................... a single market and the single market will work much better........................ a single currency. (of (2), for (2), in (2), on (2), through (2), around, with)
1. The greater experience of our company gives us an advantage over our competitors. 2. The high cost of living is a disadvantage to living in a big city. 3. Our product is cheaper than the other, so we have an advantage. 4. I will take advantage of my business trip to London to see the beautiful sights. 5. Many of the disadvantages of the project were quite clear. 6. She had all the advantages in life, such as wealthy parents and first-rate education. 7. This contract has many advantages 8. The salesperson took advantage of me by charging me too much. 9. His inability to speak English puts him at a disadvantage when he attends international conferences. 10. He always takes full advantage of the mistakes made by his rivals.
Task 9. Answer the following questions 1. When was the single European currency launched? 2. Why is the euro attractive to international investors? 3. Does a single European currency have any benefits? 4. How does the euro make commerce within the EU easier? 5. What provides for lower transaction cost? 6. What does the single currency make more obvious in different countries of the Euro zone? 7. What costs does the euro reduce? 8. What will increase employment in the EU?
Task 10. Find the words in the list below in the grid. Words can go horizontally, vertically and diagonally, backwards or forwards.
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A one-dollar bill. A ten-dollar bill.
Task 8. Translate the following sentences into Ukrainian
