BACKDOC: MMMM THEY MUST HAVE PULLED IN ENOUGH TOO! LOOKS LIKE THE ZIM IS LOOKING TO OCTOBER FOR ITS NEW REALITY AS WELL! HEE HEE
NICE ARTICLE W.S.! DOC IMO
Walkingstick: Zimbabwe raises cash dollar-denominated securities to counter the shortage of coins
SEPTEMBER 15, 2016
Harare – (dpa) – Zimbabwe plans to issue securities denominated in the currency to the dollar to alleviate the shortage of coins in the country, and encourage exports during the next month.
Said John Manjudia Governor of the Reserve Bank (central) Zimbabwe on Thursday: “We expect to draw expected value of stock raised about $ 75 million, and be put on the market by the end of December / December 2016”.
Zimbabwe had resorted to the US dollar as the currency trading in the country, an alternative local currency, which has become almost worthless in 2009 after the arrival of inflation to unprecedented levels as a result of the economic crisis, which lasted about 10 years.
Targets Manjudia allay fears that the introduction of new banknotes prelude to the return of the old currency trading, saying, “According to the macroeconomic fundamentals .. It is not right to do so” in reference to the likelihood of re-old currency.
Zimbabwe is currently suffering from a severe cash crunch as returned by economic analysts of the increasing dependence on imports after the collapse of many local industries.
At the same time, the country has witnessed months of protests against the deterioration of the economy and human rights abuses under President Robert Mugabe’s 92 / year /
rule, which has ruled the country since 1980.
http://www.raialyoum.com/?p=521907
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Samson: Iran-Russia joint bank to help boost rial, ruble
Thu Sep 15, 2016 1:45PM
Speculations are rising that the rial and the ruble will be boosted once Iran and Russia start to trade in each other’s currencies.
A top trade official in Tehran says Iran and Russia are working on opening a joint bank between the two countries, adding that the move will help strengthen their currencies.
“There currently aren’t any Russian banks in Iran, and the Russian currency is not very well known on the market. When Russian banks begin to operate in Iran, there will be more currency operations and the ruble will strengthen,” said Bahram Amirahmadiyan of the Russia-Iran Friendship Society.
“I hope the same will happen to the Iranian rial in Russia. That’s why we are waiting impatiently for this initiative to go ahead,” Amirahmadiyan told Sputnik Persian.
He added that Iranian and Russian traders alike want to carry out their trade operations in their national currencies. This can also widen and improve economic cooperation between the two countries, Amirahmadiyan added.
“At the moment, all banking operations between Russia and Iran are carried out in dollars or euros. It’s very inconvenient, because all these operations are controlled either by the EU or US central banks,” he emphasized.
According to official figures from Russia’s Federal Customs Service, Russian-Iranian trade as a proportion of Russia’s international trade increased from 0.2 to 0.4 percent in the first half of this year, following the partial lifting of sanctions. Between January and June, the total turnover of trade between the two countries was $923.7 million, Sputnik added.
“The key problem in the way of increasing the volume of trade between the two countries is the lack of a single joint banking mechanism. This is a very valuable and rational initiative from Russian banks, and I am sure it will succeed in practice. The Russian-Iranian Chamber of Commerce is actively working on opening a joint Russian-Iranian bank,” Amirahmadiyan said.
http://www.presstv.ir/Detail/2016/09/15/484837/IranRussia-joint-bank-to-help-boost-rial-ruble
