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Strategies & Market Trends : Ride the Tiger with CD
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To: Canuck Dave who wrote (138795)12/10/2008 11:36:27 PM
From: koan  Read Replies (3) of 312572
 
I was in New Zealand right after they devalued their currency overnight in 1985 by 20%. Overnight their currency bought 20% less. The dollar then was exactly 2 for 1, as I remember.

Foreign exchange problem I think. They didn't want to do it, they had to do it. I have been hearing about plans for the fed to devalue the dollar under certain circumstances??
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