DINAR REVALUATION

Wednesday, April 24, 2024

FRANK26….4-23-24…..SAT PHONE CALL

Zimbabwe’s Introduction to a New Gold-Backed Currency Led to a Stock Market Slump, 24 APRIL

Zimbabwe’s Introduction to a New Gold-Backed Currency Led to a Stock Market Slump

Zimbabwe’s New Currency Leads to a Stock Market Wipeout

Story by Kailas Salunkhe, TIPRANKS, on MSN

Earlier this month, Zimbabwe introduced a new gold (CM:XAUUSD)-backed currency, called the ZiG (Zimbabwe Gold). However, even a well-intentioned path to fiscal prudence can become paved with unintended setbacks, including a stock market wipeout.

Zimbabwe’s Stock Market Slump

The introduction of the ZiG has resulted in a difficult-to-digest 99.95% wipeout in the Zimbabwe Stock Exchange All Share Index so far this month. This major change required local institutions and businesses to reconfigure their systems to accommodate the new currency, resulting in the rebasing of share prices for all listed companies in the country. According to Bloomberg, investors rushed into stocks prior to the conversion to escape inflation and the collapse of the local dollar (Zimbabwe’s previous currency).

However, the trading volumes and the value of transactions on the exchange have plunged after share prices were rebased in the new currency. The low trading volumes are also taking a toll on the country’s stockbroking industry.

Meanwhile, many Zimbabweans still prefer to transact in the more stable U.S. Dollar. This preference has led to a black market, where the ZiG is trading at nearly 20 ZiG for 1 USD. The official exchange rate from the Zimbabwean authorities is 13 ZiG to 1 USD.

Next Steps

As Zimbabwe embarks on its sixth attempt to introduce a stable and credible currency, the next significant milestone approaches on April 30. This marks the introduction of physical notes and coins in the new currency for circulation across the country.

'ABOUT THE STATUS OF IRAQ" BY GOLDILOCKS, 24 APRIL

GOLDILOCKS

Iraq is telling us on the CBI website that they are meeting their Financial Inclusion Requirements.

G20 has standard guidelines for what this means.

"Financial inclusion is measured in three dimensions: (i) access to financial services; (ii) usage of financial services; and (iii) the quality of the products and the service delivery."

https://cbi.iq/news/view/2552

IQD Update - Iraqi Dinar - Global Deals - Support - USA- Turkey - Timing...BY MILITIAMAN

"RV UPDATE" BY WOLVERINE, 24 APRIL

Update, Tues. 23 April Wolverine

“I have incredible news coming through. This is real and happening. I have received news that we are days, or even hours away from this happening.

“An audio came out from the owner of the Pentecostal Group in Columbia. Michael Rueben who is the number one Paymaster over all the Paymasters in the World, had a meeting with the committee. He said that things have started.

They are releasing to The People and we are going to have a beautiful week this week. … In Mexico the banks are closing and will be closed for five days.”

THE BIG CALL HIGHLIGHTS, 24 APRI

Tues. 23 April Bruce The Big Call Universe (ibize.com) 667-770-1866, pin123456#

“Redemption Center sources say everything will be released by the end of the week. One Redemption Center Head said ‘This is the week.’

Since Sun. 21 April19 currencies have been going up in value on the Forex. Zim has been on par with the US Dollar and was now over par. While most currencies will top out, the Dong may continue to go up in value.”