6-3-2015 *Kaperoni

[Vixen]

6-2-2015 *Kaperoni ~Article quote: "Saleh also highlighted the lack of a relationship between the process of deleting the zeros and the rise of the dollar exchange rate, the fact that this operation "carried out at the exchange rate stability", ruling now be removed within a period close." So what we have here is Saleh is saying the deletion of zeros and the fall of the market rate (appreciation of the dollar) are two different issues... What I get from this is that they will not begin the deletion of zeros until the CBI gets control over market rate. Not necessarily that they need to get in compliance with Article VIII, but to demonstrate that they can at least hold the market rate within 2% as the IMF has always said. I think this is very positive in the sense that Saleh said that the..."deletion of zeros will take place where there is stability in the market." With the recent attempts by the CBI and private banks to reduce the spread, they may get it back in line within a month or so...and if Allaq can hold that stable thereafter, we may see it begin.

6-3-2015 *Kaperoni ~[...when the CBI is in compliance, will they start the float or wait until the paper count drops to start the float?] Hard to tell...It appears that currency reform will happen prior to moving to Article VIII. That means compliance is not as important as we had once thought. So technically, it could happen at any time.