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sandyf: "Article 8 does not prohibit a bank from dealing in an art 14 currency, there are a few in this area and the local banks deal with them" 2/17/20 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

sandyf: "Article 8 does not prohibit a bank from dealing in an art 14 currency, there are a few in this area and the local banks deal with them" 2/17/20

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sandyf: "Article 8 does not prohibit a bank from dealing in an art 14 currency, there are a few in this area and the local banks deal with them" 2/17/20 Empty sandyf: "Article 8 does not prohibit a bank from dealing in an art 14 currency, there are a few in this area and the local banks deal with them" 2/17/20

Post by RamblerNash on Mon Feb 17, 2020 9:45 pm

sandyf  

[Does Iraq have to be in Article 8 status to have an international currency...]  ...The question is invalid as there is no set definition for an international currency. The term is based on a vague set of parameters mainly about convertibility and how much is us used in international trade, very few currencies are considered to be international in that respect.  Article 8 makes a currency internationally recognized, something completely differentThe terms of Article 8 ensure that a country must guarantee redemption of that currency and international banks are reluctant to handle a currency without that guarantee. Article 8 does not prohibit a bank from dealing in an art 14 currency, there are a few in this area and the local banks deal with them. Neither is Art 8 a restriction on a country changing the value of it's currency, I think it was 2014 when the Myanmar currency went from about 6 to the USD to around 900 to the USD. The largest official change in the value of a currency ever seen.


2/17/20
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