Daz: CANADA RATES WILL BE DIFFERENT THAN US RATES…JUST LIKE EVERY OTHER COUNTRY WILL HAVE DIFFERENT RATES..
THE EXCHANGE RATE SYSTEM IS AN “EQUALIZER” TO ADJUST FOR A SORT OF PARITY BETWEEN ECONOMIES
THERE WERE NEVER GOING TO BE 800 NUMBERS BEFORE
THERE WAS GOING TO BE NUMBERS…SO SIT DOWN AND MAKE A LITTLE PLAN LIKE IT WAS THE “OLD DAYS”
800#’S ARE A RECENT EVENT.. BACK OVER THREE YEARS AGO THERE WAS NO “PLAN” FOR 800’S..WE WERE JUST DOING AN EXCHANGE TRANSACTION..
WE CONTACT OUR DEALER OR THE CURRENCY DEPARTMENT AT OUR FAV BANK AND MAKE AN APPOINTMENT TO EXCHANGE..THE “OLD DAYS” PLAN
Daz: HELLO MR. BANKER, I HAVE IRAQ DINAR, VIETNAM DONG AND ZIMBABWE CURRENCY. I WOULD LIKE TO EXCHANGE…CAN WE DISCUSS THE MOST FAVORABLE RATES AND TERMS, BOTH PUBLIC AND PRIVATE, AVAILABLE FOR EACH?
WELL MR BANKER…..I RECEIVED SOME INFORMATION IN THE PAST THAT THERE MAY BE MORE THAN ONE RATE AVAILABLE DEPENDING ON HOW WE EXECUTED THIS EXCHANGE.
IF THERE ARE OTHER OPTIONS BESIDE AN EXCHANGE AT THE INTERNATIONAL RATE, I WOULD LIKE TO EXPLORE THOSE TERMS AND REQUIREMENTS IF THEY ARE AVAILABLE TO YOU OR ANY AT THIS BANK.
Iko Ward : DINAR JUST RESET ON FOREX TO 1165…THIS IS GOOD.
KittyNDog: Can someone explain why it is good that it reset back to 1165?
MW: Kitty… I THINK it is because they are going to reset all of the currencies for the Dec 1st date and MAYBE they are going to reset Dinar at its TRUE VALUE tonight!!!
Shybaby: Renminbi As The Fifth International Reserve Currency
November 30, 2015 6:56 am
Renminbi As The Fifth International Reserve Currency by Dan Steinbock, Difference Group
Recently, the International Monetary Fund’s staff and its chief Christine Lagarde suggested that the yuan should join the basket of international reserve currencies (the Special Drawing Rights, or SDR). The inclusion is expected to be approved at the IMF board meeting on Nov 30.
It would make the yuan the first currency of an emerging economy to be included in the basket. And it could unleash three waves of capital inflows into the Chinese currency.
GodBlessTony: Here’s a detailed look at how the SDR Basket works..China weighted at 10.92%
The IMF Confirms Yuan Inclusion In SDR Basket At 10.92% Weight, Above JPY And GBP
IMF staff earlier this month proposed that the yuan be added to the basket of currencies used to value the SDR, a reserve asset created by the institution in 1969, and today that decision is confirmed (as expected).
The IMF’s Executive Board decision today means that the yuan will be included in the SDR basket from Oct. 1, 2016, effectively anointing the yuan as a major reserve currency and represents recognition that the yuan’s status is rising along with China’s place in global finance.
Lux40: It’s interesting to see how the US Dollar appears to have taken the smallest hit of all the other original SDR composite currencies, in order to accommodate the inclusion of the Yuan.
It is also interesting how the “weighting” of the Yuan may very well change that if it goes from 10.92% to around 15% of the total.
DC alluded to this back when he was on the calls. He mentioned that the USD would take a minimal hit, and it looks like he was right on!
Thanks for posting this. Great find.
[sunny] Announcement of the Yuan in the IMF Basket: . http://www.marketwatch.com/
Broccolysaurus: In case anyone would like to estimate their Capital gain tax.https://smartasset.com/investing/capital-gains-tax-calculator