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Linda Bower

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Posts posted by Linda Bower

  1. rvmydinar  We were already home when they did the lop.  The Russian people did not benefit from exchanging their old bills with the 3 zeros when they exchanged them for the new bills without the 3 zeros.  I'm sorry, but I don't remember the rate of exchange for us.  We exchanged whatever rubles we had left over in Russia before we left.

     

     

     

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  2. We were in Russia in November 1997 adopting 2 little girls.  We had to exchange all of our adoption money into rubles to pay for everything.  We were millionairs!  Shortly after we got home Russia lopped their currency (losing the 3 zeros).  The Russian people were given very little time to exchange and they limited the number of hours the banks would be open.  The lines were non ending.  So when the time was up many many Russians  were stuck with useless currency.  We were back in Russia 7 years later and the venders at the markets were unloading useless currency off on unsuspecting tourists as change for their purchases.  That, coupled with the fear of getting rubles that had been contaminated by Chernoble made for tricky exchanges.   So when the time comes to exchange our Dinar we are choosing to be safe rather than sorry.

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  3. Viet Nam, like China benefit from a low exchange rate because they export so many goods and it far exceeds what they import

    Iraq, on the other hand has very poor citizens that have to pay dearly for goods because it is all imported.  At this point they benefit very little from the oil their government exports.  So if Kazemi is going to keep the common man on the street happy, he needs to make some drastic changes.

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  4. if what Frank is saying about the GCC wanting a unified currency is true, it makes you wander what their exchange rate would be.  Even if it was $.25 to the US dollar, for Iraq to say no to it must mean they want a lot more bang for their buck. 25 cents is so much more buying power than they currently have..  Saudi Arabia, United Arab Emirates, and Quatar are in the neighborhood of a quarter to the USD, but the other 3 range from  2.60 to 3.30.  I can't imagine the 3 countries coming down from that exchange rate.  It still begs to question why Iraq would turn down even the higher rates of exchange.  What do they hope for in future exchanges?

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  5. My guess is its all about whether they are a country that exports enough to keep a low exchange rate or whether it is more profitable  with all the goods they import in to have an exchange rate that has more purchasing power.  China and Vietnam have opted for the lower exchange rate because most of their income comes from exporting goods.

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  6. I thought it was interesting the People that were going to be on the committee for studying the changing of the exchange rate. Ministers from housing, construction, public works, etc...These are all areas that have been adversely affected by the exchange rate going higher because all their supplies have dramatically increased in price.  Maybe the committee was formed to show them How advantageous it would be to delete the zeros from the exchange rate.  And how much more they could use for redevelopment if building supplies were much more affordable.

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