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Posted 28 August 2011 - 10:05 PM
Posted 28 August 2011 - 10:13 PM
I have a question: My brother, a stock trader, says that no country can revalue its own currency. If they could, all countries would do that to have better buying power against other countries. The only way a currency goes up is based on stability and resources, and they move up slowly over time based on economic improvement in the area. A currency goes up based on how it is valued in relationship to other currencies. Can anyone refute this opinion with facts?
How I see it is that Iraq's currency right now is not able to be traded on the world markets so they can jump in at a price that someone sets such as Shabibi, CBI or the IMF. I suppose this can happen as they move out of Chapter 7 and become sovereign. We hear about Kuwait and Turkey revaluing currency, but was this again from not being sovereign to becoming sovereign? Thanks in advance for any factual responses.
Posted 28 August 2011 - 10:15 PM
Posted 28 August 2011 - 11:35 PM
but its acutely called a reinstatement not revaluation
Posted 29 August 2011 - 06:53 AM
Posted 30 August 2011 - 04:19 AM
Edited by GrahamB, 30 August 2011 - 04:21 AM.
Posted 30 August 2011 - 05:51 AM
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