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Friday, June 22, 2012

DOC POST, 22 JUNE


6-22-2012 Doc: If you listen to the CBI then all the other noise out there becomes irrelevant. So the real question that should be asked is what is the CBI indicating currently.
 
A recent article pretty well summed it up as the CBI was quoted as saying the new currency will be issued by the first of 2013, the old currency will coexist with the new currency for one year and they want the value will be on par with the dollar. This pretty well should end the LOP debate in that they will not have a different exchange rate for the old and new currencies. It also should end the debate of these super high ($3+) rates. If anyone tells you these high rates are in the budget simply ask them to show you in which paragraph and which line it is stated. Our MBA members have reviewed the published budget line by line and found the only stated exchange rate is the program rate of 1166.

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