- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
25 November 2010 - 7:00AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21791
Global Income & Currency Fund Inc.
(Exact name of registrant as
specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal
executive offices) (Zip code)
Kevin J. McCarthy
Vice President and Secretary
333 West Wacker Drive, Chicago, Illinois
60606
(Name and address of agent for service)
Registrants telephone number, including area code: 312-917-7700
Date of fiscal year
end: 12/31
Date of reporting period: 9/30/10
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the
Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its
regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information
specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget
(OMB) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
Global Income & Currency Fund Inc.
Schedule of Investments as of September 30, 2010 (unaudited) (Percentages shown are based on Net Assets)
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Short-Term Securities
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Face
Amount
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Value
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Foreign Commercial Paper**
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Mexico - 12.4%
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Mexican Cetes, 4.77%, 2/10/11
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MXN
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143,000,000
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$
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11,157,646
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Total Short-Term Securities in Mexico
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11,157,646
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Turkey - 12.7%
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Turkey Government Bond, 7.49%, 2/02/11
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TRY
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17,000,000
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11,468,992
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Total Short-Term Securities in Turkey
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11,468,992
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Short-Term Securities
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Maturity
Date
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Discount
Rate
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Face
Amount
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United States - 76.3%
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U.S. Government & Agency Obligations** - 73.3%
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Fannie Mae
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12/01/10
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0.39
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%
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USD
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4,000,000
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3,999,052
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Fannie Mae
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1/18/11
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0.23
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%
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2,000,000
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1,999,092
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Fannie Mae
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4/01/11
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0.49
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%
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2,000,000
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1,998,180
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Fannie Mae
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4/28/11
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0.50
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%
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1,000,000
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998,955
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Federal Farm Credit Banks
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3/17/11
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1.80
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%
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3,000,000
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3,021,681
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Federal Home Loan Banks
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10/20/10
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0.27
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%
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2,000,000
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1,999,894
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Federal Home Loan Banks
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11/19/10
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0.16
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%
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2,400,000
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2,399,609
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Federal Home Loan Banks
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11/22/10
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0.13
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%
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5,000,000
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4,999,135
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Federal Home Loan Banks
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11/30/10
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0.14
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%
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3,250,000
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3,249,350
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Federal Home Loan Banks
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12/01/10
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0.31
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%
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3,270,000
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3,269,225
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Federal Home Loan Banks (a)
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1/06/11
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0.38
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%
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4,000,000
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4,001,740
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Federal Home Loan Banks (a)
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1/25/11
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0.28
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%
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4,000,000
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3,998,068
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Federal Home Loan Banks
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2/03/11
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0.27
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%
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2,000,000
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1,998,888
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Federal Home Loan Banks (a)
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3/02/11
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0.22
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%
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5,000,000
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4,996,410
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Federal Home Loan Banks (a)
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4/28/11
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0.48
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%
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1,017,000
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1,015,937
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Federal Home Loan Banks (a)
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6/15/11
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0.43
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%
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5,000,000
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4,992,860
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U.S. Treasury Bills
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10/21/10
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0.22
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%
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9,000,000
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8,999,352
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U.S. Treasury Bills
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7/28/11
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0.30
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%
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5,000,000
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4,990,415
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U.S. Treasury Notes
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2/28/11
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0.88
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%
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3,000,000
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3,008,436
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Total U.S. Government & Agency Obligations
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65,936,279
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Short-Term Securities
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Shares
Held
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Mutual Funds - 3.0%
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AIM Short-Term Investment Trust - Liquid Assets Portfolio - Institutional Class, 0.15% (b)
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2,739,672
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2,739,672
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Total Short-Term Securities in the United States
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68,675,951
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Total Investments
(Net Cost - $90,573,528*) - 101.4%
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91,302,589
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Liabilities in Excess of Other Assets - (1.4%)
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(1,220,557
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)
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Net Assets - 100.0%
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$
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90,082,032
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Global Income & Currency Fund Inc.
Schedule of Investments as of September 30, 2010 (unaudited)
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*
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The cost and unrealized appreciation (depreciation) of investments as of September 30, 2010, as computed for federal income tax purposes, were as follows:
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Aggregate cost
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$
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90,573,528
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Gross unrealized appreciation
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$
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729,271
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Gross unrealized depreciation
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(210
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)
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Net unrealized appreciation
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$
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729,061
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**
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Foreign Commercial Paper and Certain U.S. Government & Agency Obligations are traded on a discount basis; the interest rates shown reflect the discount rates paid at the
time of purchase. Other securities bear interest at the rates shown payable at fixed dates or upon maturity. The interest rates shown are rates in effect at September 30, 2010.
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(a)
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All or a portion of security has been pledged as collateral in connection with open forward foreign exchange contracts.
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(b)
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Represents the current yield as of September 30, 2010.
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Forward foreign exchange contracts as of September 30, 2010 were as follows:
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Foreign
Currency Purchased
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Foreign
Currency Sold
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Settlement
Date
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Appreciation
(Depreciation)
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BRL
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20,622,500
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USD
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11,687,447
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10/04/10
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$ 490,715
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USD
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12,052,893
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BRL
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20,622,500
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10/04/10
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(125,269)
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EUR
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8,800,000
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USD
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11,857,507
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10/18/10
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137,605
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USD
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11,309,760
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EUR
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8,800,000
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10/18/10
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(685,352)
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USD
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11,365,407
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GBP
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7,300,000
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10/18/10
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(100,635)
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BRL
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20,622,500
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USD
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11,987,735
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11/03/10
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42,752
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USD
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2,693,253
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TRY
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4,000,000
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11/15/10
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(50,249)
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INR
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127,859,500
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USD
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2,825,000
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12/06/10
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25,405
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ZAR
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39,744,643
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USD
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5,650,000
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12/15/10
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(17,759)
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Total Unrealized Depreciation on Forward Foreign
Exchange Contracts - Net
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$ (282,787)
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Currency Abbreviations:
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BRL
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Brazilian Real
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MXN
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Mexican Peso
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EUR
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Euro
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TRY
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Turkish Lira
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GBP
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British Pound
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USD
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U.S. Dollar
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INR
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Indian Rupee
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ZAR
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South African Rand
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Fair Value Measurements -
Various inputs are used in determining the fair value of investments, which are as follows:
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Level 1 - price quotations in active markets/exchanges for identical securities.
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Level 2 - other observable inputs (including, but not limited to: quoted prices for identical or similar assets or liabilities in markets that are not active,
inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs).
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Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the
Funds own assumptions used in determining the fair value of investments).
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The inputs or methodology used for
valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Funds policy regarding
Global Income & Currency Fund Inc.
Schedule of Investments as of September 30, 2010 (unaudited)
valuation of investments and other
significant accounting policies, please refer to the Funds most recent financial statements as contained in its semi-annual report.
The following tables summarize the inputs used as of September 30, 2010 in determining the fair valuation of the Funds investments:
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Valuation Inputs
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Level 1
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Level 2
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Level 3
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Total
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Assets:
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Investments in Securities:
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Short-Term Securities
1
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$
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19,737,875
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$
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71,564,714
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-
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$
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91,302,589
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Total
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$
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19,737,875
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$
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71,564,714
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-
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$
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91,302,589
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Derivative Financial Instruments
2
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Valuation Inputs
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Level 1
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Level 2
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Level 3
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Total
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Assets:
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Foreign currency exchange contracts
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-
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$
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696,477
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-
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$
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696,477
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Liabilities:
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Foreign currency exchange contracts
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-
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(979,264
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)
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-
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(979,264
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)
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Total
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-
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$
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(282,787
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)
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-
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$
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(282,787
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)
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1
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See above Schedule of Investments for values in each country.
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2
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Derivative financial instruments are forward foreign exchange contracts, which are valued at the unrealized appreciation/depreciation on the instrument.
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The table below presents the transfers in and out of the three valuation levels for the Fund as of the end of the
reporting period when compared to the valuation levels at the end of the previous fiscal year. Changes in the leveling of investments are primarily due to changes in the leveling methodology.
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Level 1
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Level 2
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Level 3
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Transfers In
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(Transfers Out)
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Transfers In
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(Transfers Out)
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Transfers In
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(Transfers Out)
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$ 16,998,203
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$
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-
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$
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-
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$
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(16,998,203)
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$
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-
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$
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-
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Item 2. Controls and Procedures.
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a.
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The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that
includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934
(17 CFR 240.13a-15(b) or 240.15d-15(b)).
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b.
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There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that
occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting.
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Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the
registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
(Registrant) Global Income & Currency Fund Inc.
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By (Signature and Title)
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/s/ Kevin J. McCarthy
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Kevin J. McCarthy
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Vice President and Secretary
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Date November 24, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed
below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By (Signature and Title)
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/s/ Gifford R. Zimmerman
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Gifford R. Zimmerman
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Chief Administrative Officer (principal executive officer)
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Date November 24, 2010
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By (Signature and Title)
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/s/ Stephen D. Foy
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Stephen D. Foy
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Vice President and Controller
(principal financial officer)
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Date November 24, 2010
Global Income & Currency Fund Inc. (NYSE:GCF)
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