6-2-2014 Newshound Guru Kaperoni
Article: "Concerned : non-
adoption of the budget is causing economic recession"
Quote: "that under the current circumstances make it
difficult to control the exchange rate of the dollar due to the central bank to
pump large quantities of hard currency to the money transfer companies." ...until they
open the banking system to the world, these banks are nothing but currency
dealers...and now we see through this article, that business may be in jeopardy
as a result of allowing money transfer companies to go direct to the CBI. This
may be more than just the reduction of the spread (Official Rate/Market Rate),
but the indication that the CBI is planning to move to Article VIII much more
quickly that we may have thought so these banks can do real business!
