Chapter 842 - New Joint Reserve (1/2)

Chapter 842: New Joint Reserve

Translator: _Min_ Editor: Rundi

On theof September 25, the Statistics Bureau of New Nation released data on the GDP and econoates of the country for the first half of 2018 and suggested that the growing doh to support the issuance of domestic currency

In order to cope with the fluctuations in the international exchange rate market, Xin must use its own currency to price its own products

When this report came out, the wise people i for the release of the national currency!

Sure enough, shortly after the publication of this report, Future Group expressed its support for the initiative

At the same time, Future Bank, in conjunction with a number of domestic banks in the country, announced the establishment of the “New Joint Reserve Bureau” and the issuance of a currency called “Xin New Dollar” or “XND” The plan was to con currency by the end of 2019

The issued currency was in denominations of 1, 5, 10, 20, 50, and 100 XND

The initial issuance of a total of 50 billion XND was guaranteed by precious e with a total value of 541 billion USD It was put on the market mainly in the forn citizens to exchange money In the future, an additional 50 billion XND would be put into the market for a total amount of 100 billion

Based on the consideration that the currency was just issued and that Future Bank’s foreign reserve was still adequate, the New Reserve tee rate systeed for 1 USD, and the foreign reserve would be used to float the XND around the current exchange rate

After waiting for the currency to stabilize, the New Reserve would gradually loosen its e rate to pricing based on supply and deest shareholder of the New Reserve, the first president of the New Reserve would be headed by David Smith, president of Future Bank, and the vice president would be elected by votes of other banks in Xin

Financing was rather troubleso Chen handed over the details of the New Reserve to Mr Smith He had faith that the former Citibank executive would certainly live up to his expectations

In a small country in Pacific, the issuance of currency did not cause many waves in the international market

However, compared with the indifference of the international media, under the influence of the local media, Xin has set off a wave of support for its own currency Driven by Future Group,malls had affixed XND labels on their shelves and offered 10 discounts to custolai added XND to the personal electronic accounts of urban residents and provided a “one-click exchange” button

In order to reduce the cost of tourise their currencies for XND However, ners were quite confused

“Xin New Dollar? Guaranteed with coconuts?”

“Maybe it’s with rubber or shellfish or so”

“Why can’t we just use USD? A small country with a population of no more than one million has to issue its own currency I don’t see any benefit other than when it becomes more troublesome to pay”

“Perhaps it is because the president of Future Group wants to put his head on the banknote To achieve this goal, it seems that he couldn’t think of a better way”

Ridicules could occasionally be seen in the coh people did not care about the New Reserve and Xin New Dollar, they were still very interested in Future Group itself

A self-made businessman could achieve this Not only did he establish a trust mode monopoly in an offshore country, but he also issued his own currency

Nuet and countless aspiring young people have used hi Chen did not know these things If he knew, he h out loud

[Is my success easily replicated?]

[If you want to copy it, you must first make an interdimensional bracelet!]

…

There was no work on Saturdays

At eight in theher sleepy eyes She bu out of his bathroo”

Yawning, Natasha greeted Jiang Chen and walked around hi up, she went into the dining room

There were sandwiches andChen, as already dressed, was enjoying breakfast

The Freemasonry was pinned down by Russia on the Ukrainian issue They te Chen and he had a rare period of free tiascar, Africa was, after all, far away fro up a sandwich, Natasha’s ar the side of her face, her blue eyes suspiciously exa Chen from head to toe

“What a surprise, how are you up so early today?”