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 Guru sandyf "2/11/18

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PostSubject: Guru sandyf "2/11/18   Sun Feb 11, 2018 8:20 pm

There seems to be some confusion between the availability of IQD at banks and forex, the two are not directly related. There are many levels of forex and all Art 14 currencies can be traded without being available at banks. International banks will normally only deal in Art 8 currencies but may do so at their own risk. It is Art 8 that guarantees redemption by the central bank. Around here there are a few local Art 14 currencies and they are all available at banks because the foreign nationals are present in the country.
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PostSubject: Re: Guru sandyf "2/11/18   Sun Feb 11, 2018 11:42 pm

Article VIII and XIV have nothing to do with banks, none of the IMF policies do. They have to do with countries exchanging currencies between central banks.

https://www.imf.org/external/pubs/ft/aa/

https://www.imf.org/external/pubs/ft/sd/index.asp?decision=1034-(60/27)

Article VIII is simply a set of rules countries agree to abide by. Article XIV is simply the method of how a country can notify others and suspend transactions when there is a temproary shortage of liquidity in the country's central bank


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