Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Philipp who wrote (24478)	8/17/1998 10:02:00 AM
From: N	Read Replies (1) of 94695

"Russia did not technically devalue, but allowed the ruble to float down by up to 30 %" To devalue is a policy action, within a fixed exchange rate regime To float is to let the market do it So they've changed regimes...probably with full knowing, consult of IMF with a credit facility behind it On the more bizarre side, the Hong Kong currency board bought into the equities market last Friday. Apparently they don't need Goldman Sachs! Anyone know what to make of this? Nancy

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