Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Roebear who wrote (7095)	2/5/2002 2:38:14 AM
From: Step1	Read Replies (1) of 36161

Roebear, yes your reading of the article was correct. I have only got a few minutes here (6 actually) so i wont give a full translation of the article, but basically: debts in dollars will be converted at 1 to 1 into pesos (creditors get screwed) deposits in dollars will be converted at 1 to 1.4 (depositors get screwed) a) if you have a deposit of under 30,000 usd then you may elect to take gubment bonds at 1 to 1 instead which will be repaid long term (hmmm) peso will be floated after banks reopen on Wednesday (after more banking holidays) which then says that it could be trading as low as 3 to 1, that is the writer`s guess though... Sorry, was interrupted and i really have to go now.. hope it helps Stephan

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