WHO SETS THE RATES? Common questions about CURRENCY EXCHANGE RATES, 3 AUGUST

 WHO SETS THE RATES? Common questions about CURRENCY EXCHANGE RATES

"Who's in charge of setting currency exchange rates? If you've ever sent money overseas or checked the rates, this is a question that may have definitely crossed your mind. Who decides what is the value of money, and why do rates fluctuate that much during the day?"

"Every country in the world has its own currency, and each of these currencies is valued differently. When you exchange one currency for another, you're actually buying money, just in a different currency than the one used in your country."

"The exchange rate tells you how much the currency used in your country is worth in foreign currency. The rates CONSTANTLY CHANGE for some countries, whereas others use FIXED exchange rates.

 As a rule of thumb, a country's social and economic outlook is the main factor that influences the currency exchange rate."

"Most countries have variable currency exchange rates, which are determined by the foreign exchange market. Because these rates are flexible, they fluctuate every minute, often influenced by market movements, political events, economic forecasts, and more."

"Countries such as the U.S., the United Kingdom, Canada, Japan, and Mexico all use flexible exchange rates. It's important to note that even though government policies can influence currency exchange rates, the government can't actually regulate them. The rates are always determined by Forex traders on the foreign exchange market."

"Several countries use FIXED CURRENCY RATES, and that is because the government dictates when the rates change. This is the case for the Saudi Arabian RIYAL, for example. The fixed rates are pegged to the U.S. dollar, and the central bank in the countries that use this system holds U.S. dollars to keep the rate fixed. "

"The market forces of supply and demand are the main factors that determine currency exchange rates. The level of demand for a currency determines its value in relationship with other currencies. "

@ Newshounds News™

Read more:  Xe

IRAQ BOOTS ON THE GROUND REPORT BY FIREFLY, 3 AUGUST

 [Iraq boots-on-the-ground report]  

 FIREFLY: August is looking good...a lot is coming to a point in August.  Iraq is opening up 4 military manufacturing plants...to produce military equipment and weapons.   Isn't that saying the sanctions will be off?  

FRANK:  Your country has no sanctions.... whatsoever of any kind. 

 FIREFLY:TV saying CBI banks are offering a 10% gain on any investment opportunities. 

 FRANK:  Shoot, I might even come there!  They're going to give you 10% on your money if you open the bank account?  ...Are you kidding me?  You talk about incentives...

--

FIREFLY: My bank guy did say dropping the zeros does not change the value.

   FRANK:  He's right.  Because it's going to be 1 to 1 with the American dollar.  It doesn't affect it inside.  It will effect it outside.  No it will not change it.  When it floats it will change it. 

 FIREFLY: Poor countries with terrible inflation, they drop [zeros] in order to lop.  We are not like that.  We drop to add value.  It's all inflation based.

    FRANK: Yes..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/07/tv-saying-cbi-banks-are-offering-10.html

---

 [Iraq boots-on-the-ground report]   

FIREFLY: My bank guy did say dropping the zeros does not change the value.

  FRANK:  He's right.  Because it's going to be 1 to 1 with the American dollar.  It doesn't affect it inside.  It will effect it outside.  No it will not change it.  When it floats it will change it. 

 FIREFLY: Poor countries with terrible inflation, they drop [zeros] in order to lop.  We are not like that.  We drop to add value.  It's all inflation based.

    FRANK: Yes, you drop to add value inside of your country...They wanted to be at least 1 to 1 with the American dollar in order to add this value to your currency.  That's why he means that dropping the zeros won't add value to your currency...Then your currency will float on the International market and the value of your currency goes up outside your country as well.  Inside, it will go from 1320 to at least 1 American dollar in order to add value which is purchasing power...If it was a lop they would be adding zeros. 

https://dinarevaluation.blogspot.com/2024/07/iraq-boots-on-ground-report-by-firefly_0236214999.html

Iraqi Dinar🎉 Green Light Has Been Sent Iraqi Dinar RV Today 2024🔥iraqi d...

US REJECTS VIETNAM'S Request to Lift ‘Non-Market Economy’ Tag, 3 August

 THE QUESTION REMAINS HOW WILL THIS NEWS AFFECT THE VALUE OF THE VIETNAMESE DONG

" The Biden administration rejected Vietnam’s request to be classified officially as a “market economy,” a setback for the country’s efforts to boost exports to its most important market."

"The trade-dependent Southeast Asian economy has pressed the administration to revise the status since the upgrade in diplomatic ties during a visit by President Joe Biden to Vietnam in September last year."

"The “non-market” economy label mainly works against Vietnam when the US applies anti-dumping complaints. A change would have been a signal of closer ties at a time when the US is seeking to bolster relationships in the region as a counterweight to China. "

"Vietnam, which has signed numerous free trade agreements, is making greater access to the US market a priority. Its total trade — exports and imports — is equivalent to about twice the size of its economy."

@ Newshounds News™

Read more:  MSN

RV UPDATE BY MIKE BARA, 3 AUGUST

MIKE BARA

A contact went to the bank (Big 4) today to buy more currency. 

He was told by the manager, who acknowledges the RV, not to bother, because he would be coming back to exchange in "two days."

 Same contact was also told that "this week" the market would drop "2,000 points." 

That's not enough to make an impact. I think he misheard and was told the market would drop TO 2,000 POINTS. Don't forget, Andy Schectman predicted this on my interview with him two weeks ago. (link below).

 He said the US markets could drop to the value of Gold, which is around $2,454 an ounce. 

Also hearing the Crowdstrike hackers got access to the crash protection algorithms, and that when the plunge begins, they won't be able to halt trading. This is how it will be portrayed anyway. https://mikebara.blogspot.com/2024/07/the-new-gold-standard-with-mike-bara.html

Iraqi Dinar News Today - Iraq's Recent Reforms Are a Green Light for Inv...

Reuters: Iraq still accounts for the largest part of OPEC's excess production, 3 august

 OPEC oil output rose in July on a rebound in Saudi supplies and small increases elsewhere, a Reuters survey showed on Friday, offsetting the impact of ongoing voluntary supply cuts from other members and the wider OPEC+ alliance.

The survey, based on shipping data and information from oil industry sources, showed that OPEC pumped 26.70 million barrels per day last month, up 100,000 bpd from June.

The increase comes despite the OPEC+ alliance, which includes OPEC and allies including Russia, maintaining most production cuts until the end of 2025 to support the market in the face of tepid demand growth, rising interest rates and increased US production.

A meeting of senior OPEC+ ministers on Thursday left oil production policy unchanged, including a plan to start unwinding a tranche of output cuts from October.

The ministers stressed that this increase could be temporarily halted or reversed if necessary.

The survey found that Saudi Arabia provided the biggest boost to supplies last month, by 70,000 barrels per day, as exports rebounded from June when they were lower than expected. Output reached 9 million barrels per day in July, close to the kingdom’s target.

The survey showed that Nigeria recorded the largest decline of 30,000 barrels per day, with exports declining on a monthly basis.

Libya and Iran, two members not required to cut output, along with Iraq, recorded slight increases. The survey found that Iran’s output reached 3.22 million barrels per day, the highest since 2018, according to Reuters surveys.

Iran has boosted its exports in recent years despite continued U.S. sanctions. Iraq’s output has risen as exports have increased month-on-month, oil flow data and a tanker-tracking source showed.

The survey also said that OPEC exceeded the target assumed for the nine countries covered by the supply reduction agreements by about 240 thousand barrels per day, and that Iraq still represents the largest part of the excess production.

The Reuters survey aims to track supply to the market and is based on shipping data provided by external sources, flows data from the London Stock Exchange Group, information from firms that track flows, such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants.  link