SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Some interesting currency moves today
Re: Some interesting currency moves today
Has anybody noticed the NZD crash? NZD and SGD always were close to parity now 1 NZD = 0.9 SGD.
AUD too is now close to parity with SGD.
AUD too is now close to parity with SGD.
Re: Some interesting currency moves today
As a Kiwi who spent 14 years in the UK I'm watching the NZD very closely
When I arrived in the UK the NZD was at 28 pence when I left for SG it was at 48/49 pence so while I've still got money in the UK I 'm hoping the NZD keeps sliding for a bit longer (or even better the pound gets stronger against the NZD and the SGD) so I can pick a good time to repatriate that cash.
Mike

Mike
-
- Manager
- Posts: 1988
- Joined: Sat, 20 Aug 2005 5:01 pm
Re: RE: Re: Some interesting currency moves today
I know there is a large legal / security currency printer in Europe who still prints plane loads Of Z $, shipping on a weekly basis ... and they have ample capacity I am sureearthfriendly wrote:A slight technical problem. In Greece.
http://news.yahoo.com/cant-print-drachm ... 35680.html

Re: Some interesting currency moves today
The company is De La Rue; despite the French name it's a British PLC, and an historic one. It's printed UK banknotes and stamps 'like forever'.
They used to print S$ too until quite recently. They also print the currencies of many other countries, including - ironically - being one of the handful of printers of the Euro.
They used to print S$ too until quite recently. They also print the currencies of many other countries, including - ironically - being one of the handful of printers of the Euro.
'Do it or do not do it: You will regret both' - Kierkegaard
Re: RE: Re: Some interesting currency moves today
I read they been printing for some Asian countries too ..JR8 wrote:The company is De La Rue; despite the French name it's a British PLC, and an historic one. It's printed UK banknotes and stamps 'like forever'.
They used to print S$ too until quite recently. They also print the currencies of many other countries, including - ironically - being one of the handful of printers of the Euro.
But nothing beats their business for Z$ I guess, MD 11 loads on a weekly basis...
- Strong Eagle
- Moderator
- Posts: 11504
- Joined: Sat, 10 Jul 2004 12:13 am
- Location: Off The Red Dot
- Contact:
Re: Some interesting currency moves today
Well... the Greeks have made it clear... the austerity conditions demanded by Merkel and the Troika seem to have been soundly rejected.
This is a severe loss of face and bargaining power for the Troika. Now, they must include in their deliberations:
a) How badly do they really want to keep Greece in the Euro and Eurozone?
b) How much of a haircut are the bankers going to take in order to satisfy a renegotiated debt package?
c) Is there anyway that they can enable Greece to stay in the Euro while watching them default on the majority of their debt?
I wouldn't be surprised to see Greece go the way of Argentina... a default on all or most all debt, a moratorium on payments, then an extended repayment plan on about 30% of the debt.
This is a severe loss of face and bargaining power for the Troika. Now, they must include in their deliberations:
a) How badly do they really want to keep Greece in the Euro and Eurozone?
b) How much of a haircut are the bankers going to take in order to satisfy a renegotiated debt package?
c) Is there anyway that they can enable Greece to stay in the Euro while watching them default on the majority of their debt?
I wouldn't be surprised to see Greece go the way of Argentina... a default on all or most all debt, a moratorium on payments, then an extended repayment plan on about 30% of the debt.
Re: Some interesting currency moves today
I don't think they lost face, unless for the reason they should have said "nein" to the demands of Greece already long time ago. You see it from the perspective of an euro-skeptical person but this is not like the Troika does anything against the will of their citizens and all people around are that sympathetic to the Greeks.
This is, for example, what Germans think about helping Greece any further:
http://www.forschungsgruppe.de/Aktuelle ... barometer/
No further concession should be made – 85%.
This is, for example, what Germans think about helping Greece any further:
http://www.forschungsgruppe.de/Aktuelle ... barometer/
No further concession should be made – 85%.
Re: Some interesting currency moves today
I am no fan of the EU , however I am not sure where you are coming from here.Strong Eagle wrote:Well... the Greeks have made it clear... the austerity conditions demanded by Merkel and the Troika seem to have been soundly rejected.
This is a severe loss of face and bargaining power for the Troika. Now, they must include in their deliberations:
a) How badly do they really want to keep Greece in the Euro and Eurozone?
b) How much of a haircut are the bankers going to take in order to satisfy a renegotiated debt package?
c) Is there anyway that they can enable Greece to stay in the Euro while watching them default on the majority of their debt?
I wouldn't be surprised to see Greece go the way of Argentina... a default on all or most all debt, a moratorium on payments, then an extended repayment plan on about 30% of the debt.
The "troika" haven't lost anything , the Greek people have voted on something that as far as I can see wasnt even up for negotiation so I am a bit baffled by it all.
Clearly something needs to be done to dig Greece out of this mess, what it is I do not know.
I am pretty sure the other countries who were able to handle the "austerity" imposed on them far more effectively than the Greeks will be very interested to see how this pans out.
Life is short, paddle harder!!
Re: Some interesting currency moves today
The Greeks have voted on something that wasn't up for negotiation , they have "Said No , to more austerity" , it looks to me to have the same value as myself having a referendum on " No to VAT/GST on alcohol" , I am not in a position to implement the result of the vote if its against current policy.x9200 wrote:I don't think they lost face, unless for the reason they should have said "nein" to the demands of Greece already long time ago. You see it from the perspective of an euro-skeptical person but this is not like the Troika does anything against the will of their citizens and all people around are that sympathetic to the Greeks.
This is, for example, what Germans think about helping Greece any further:
http://www.forschungsgruppe.de/Aktuelle ... barometer/
No further concession should be made – 85%.
A complete waste of time and money for Greeks.
Life is short, paddle harder!!
Re: Some interesting currency moves today
Yep. Exactly. I understand that without own currency, devaluate etc. it may be more challenging but coming from a country that undergone a shock therapy, something I believe incomparable in terms of severity to what has been happening within last 5 years in Greece, I watch the Greeks whining with my eyes wide open. If the economy is in a shit hole it is sort of natural the quality of living will suffer until the country finds the way out.Barnsley wrote:I am pretty sure the other countries who were able to handle the "austerity" imposed on them far more effectively than the Greeks will be very interested to see how this pans out.
Close to 250 milliards Euros were pumped into the Greek's economy over last 5 years, it's like 4 milliards every single month. What happened to this money? All eaten up to maintain the privileges and the standard of living? Why there is no plan in place to do the therapy more complex, improving competitiveness of their products/companies, closing down or selling out state owned companies making no money, etc etc? I would expect this is in the first place the duty of the country, not EU, but surely this would not be politically popular.
(edited out one wrong word)
Re: Some interesting currency moves today
Not for the populist GR gov that now have a nice excuse and this was likely the whole purpose of the referendum.Barnsley wrote:The Greeks have voted on something that wasn't up for negotiation , they have "Said No , to more austerity" , it looks to me to have the same value as myself having a referendum on " No to VAT/GST on alcohol" , I am not in a position to implement the result of the vote if its against current policy.x9200 wrote:I don't think they lost face, unless for the reason they should have said "nein" to the demands of Greece already long time ago. You see it from the perspective of an euro-skeptical person but this is not like the Troika does anything against the will of their citizens and all people around are that sympathetic to the Greeks.
This is, for example, what Germans think about helping Greece any further:
http://www.forschungsgruppe.de/Aktuelle ... barometer/
No further concession should be made – 85%.
A complete waste of time and money for Greeks.
Re: Some interesting currency moves today
... the Greeks don't want to be in the Euro; but will Germany let them leave? Not a chance.
How to resolve that one? Portugal, Spain, and Italy will be looking on with interest since each of them has strong anti-euro movements that would be markedly empowered if Grexit happens.
... Meanwhile I wonder how those accession talks with Turkey, Serbia, Albania, Morocco etc etc are going...
How to resolve that one? Portugal, Spain, and Italy will be looking on with interest since each of them has strong anti-euro movements that would be markedly empowered if Grexit happens.
... Meanwhile I wonder how those accession talks with Turkey, Serbia, Albania, Morocco etc etc are going...
'Do it or do not do it: You will regret both' - Kierkegaard
Re: Some interesting currency moves today
Probably true but for the underlined part?JR8 wrote:... the Greeks don't want to be in the Euro; but will Germany let them leave? Not a chance.
How to resolve that one? Portugal, Spain, and Italy will be looking on with interest since each of them has strong anti-euro movements that would be markedly empowered if Grexit happens.

I think even for this referendum the gov argued that voting "no" would not made Greece to do grexit.
- Strong Eagle
- Moderator
- Posts: 11504
- Joined: Sat, 10 Jul 2004 12:13 am
- Location: Off The Red Dot
- Contact:
Re: Some interesting currency moves today
The Troika has lost a lot... they issued their ultimatum, they lost when Greece voted "f*ck you, Troika".
There are a few facts that cannot be ignored.
a) Greece is never going to fully pay its debt owed at 100 percent, even over the next 50 years. Somebody needs to get used to this... I refer you again to Argentina and Iceland. F*ck the banks, the people come first.
b) The Troika can forgive debt, even a bunch of it but there are two things wrong. First, they will never forgive as much debt as Greece can eliminate by defaulting, and second, without the ability to devalue its currency, Greece cannot become economically competitive.
c) Greece needs to have cheaper labor, cheaper imports. They need the Drachma in order to devalue it. Those with the cash are going to scream when currency controls are in place (aren't they already?) that forces those with money in Greece to become poorer.
The bottom line is short term pain in excess of the so called "austerity" program but a relatively rapid return or prosperity.
There are a few facts that cannot be ignored.
a) Greece is never going to fully pay its debt owed at 100 percent, even over the next 50 years. Somebody needs to get used to this... I refer you again to Argentina and Iceland. F*ck the banks, the people come first.
b) The Troika can forgive debt, even a bunch of it but there are two things wrong. First, they will never forgive as much debt as Greece can eliminate by defaulting, and second, without the ability to devalue its currency, Greece cannot become economically competitive.
c) Greece needs to have cheaper labor, cheaper imports. They need the Drachma in order to devalue it. Those with the cash are going to scream when currency controls are in place (aren't they already?) that forces those with money in Greece to become poorer.
The bottom line is short term pain in excess of the so called "austerity" program but a relatively rapid return or prosperity.
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Got my PR IPA! Some question regarding some document.
by thefinestpiece » Wed, 13 Oct 2021 8:19 pm » in PR, Citizenship, Passes & Visas for Foreigners - 5 Replies
- 2271 Views
-
Last post by PartyLike-A-Russian
Wed, 20 Oct 2021 11:18 am
-
-
-
Processing USD transactions, depositing into USD currency account
by relic1212 » Sun, 07 Oct 2018 6:36 am » in Business in Singapore - 0 Replies
- 2425 Views
-
Last post by relic1212
Sun, 07 Oct 2018 6:36 am
-
-
- 2 Replies
- 1595 Views
-
Last post by martincymru
Sat, 04 May 2019 1:39 pm
-
-
Interesting article about money laundering in Australia and Malaysia
by PNGMK » Fri, 02 Mar 2018 1:59 pm » in General Discussions - 0 Replies
- 2212 Views
-
Last post by PNGMK
Fri, 02 Mar 2018 1:59 pm
-
-
-
Where to find interesting furniture shops together
by stevieboy » Wed, 13 Jun 2018 10:11 am » in Entertainment, Leisure & Sports - 3 Replies
- 2867 Views
-
Last post by Loiusebren
Mon, 25 Jun 2018 2:16 pm
-
Who is online
Users browsing this forum: No registered users and 1 guest