Entry Submitted by David Harkness at 11:31 PM EST on November 23, 2021
I have read with interest A Wake Up Call by TJP 23 November 2021 posting.
I concur with the frustrations and postings by hearsay and without any support for comments made, in particular the timing of the RV and the ever changing time tables that never eventuate.
Surely the people posting must realise they have lost all credibility, may be not entirely their fault perhaps just blind faith in misinformation leading to huge disappointment…
The first real fact is that I have an email from Board Of Governors in response to my queries and in short they said that the revaluation of the Vietnamese Dong and Indonesian Rupiah will not be revalued until January 2022.
The Federal Reserve have accounted for values that can’t be seen if you don’t know where to look to make a calculation of their carrying value pegged to the USD which is not reflected in the public rates now declared.
The Federal Reserve is unlikely to revalue these particular currencies before January 2022.
They also have a value of the Iraq Dinar which is also not actually named as its attached to another Middle East currency not listed.
These currencies are pegged in most cases to the to the USD which equals 1.
We need to look to both the UN and IMF to see list a values of various currencies.
IMF post during each day see link below. The IMF have valued most member currencies but do not list all of them for whatever reason.
The IMF struck a value of all most all countries including Vietnam, Indonesia and Iraq when they did the calculation for the issue new SDR limits.
I did see their calculations when they did this but they removed it from their web site.
The UN sets members currency rates half monthly and monthly see above link.
They reset a lot of currencies already see my comments below.
The UN next revaluation or devaluation is 29 November 2021 effective 1 December 2021. They revalued certain currencies 15 November 2021 see links above.
The UN only revalue with the agreement of the Countries Central Bank agreement.
Venezuela revaluation is a prime example .
Float rates is another site that shows current currency rates from each Central Bank these rates appear daily continuously throughout day and night and feed the UN.
This is from a recent posting that mentions that these are the currencies to be revalued now that I find not to be factual and without any proper research.
My comments are as follows supported by the above links. Currencies in the First Basket:
US Dollar, Equals 1 and is the peg to most other currencies unlikely to change
UK Pound Sterling, Unlikely to change
Kuwaiti Dinar, Already Revalued 0.303266 USD
Canadian Dollar, Unlikely to change
Mexican Peso, r 0.0473c USD
Russian Rubble, Unlikely to change
Chinese Yuan, expected to be devalued
Venezuelan Bolívar Fuertes, already revalued 0.2213 USD
Iranian Rial, expected to be revalued
Iraqi Dinar, expected to be revalued at 0.203c USD
Indonesia Rupiah, Expected to be revalued around 0.60c USD
Malaysian Ringgit, already revalued 0.2382c USD
Vietnamese Dong, Expected to be 0.44c USD
Brazilian Real, already revalued 0.144c USD
Saudi Riyal, already revalued 0.266c USD
Qatari Rial, already revalued 0.274c USD
United Arab Emirates Dirham, already revalued 0.2715c USD
Turkish Lira, already revalued 0.0789C USD likely to be devalued
Indian Rupee, unsure
Libyan Dinar, already revalued 0.2157 USD .
Japanese Yen possibly to be revalued
Afghan Afghani. Possible revaluation
This above is actual fact I would expect the next indication of any further revaluations will occur 29 November 2021 at the UN so we need to be a little more patient the relief of all the stress bought about my incorrect information all basically hearsay will end.
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