"$0.47 -$3 THE VIETNAM DONG" BY MARKZ, 27 SEPT

  MarkZ  

 [via PDK]   

Member Question:  ...VND, IYO, will IT be higher than $.47? 

 MARKZ: Most rumors put the rate somewhere around $2.25 to $3 or so…. But we don’t know that answer for certain.

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“Iraq Plans Currency Redenomination amid economic challenges”  they are talking openly about redenomination…deleting the zeros or make them unnecessary and remove them…and we are seeing this over and over again.  Kuwait used the exact same language..

Question: Can you talk about the rate changes bankers were seeing...? 

 MarkZ:   Most of what my bankers saw... they think is a little low. Could be a place holder rate or a test rate or in-country rate…but they are once again starting to see rates that are close to what we expect.