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SomebodySmart
01-14-2016, 05:26 PM
Can anybody give me a general idea of whether things have gotten better or worse on this:

In 1985, the Nicaraguan cordoba was at 28 to the U.S. dollar officially, but I was being offered as much as 1000 cordobas to the dollar. This means that if somebody donates dollars to a charity to help poor Nicaraguans, the charity would only get 28 cordobas to each dollar and would not be able to provide much help. Why would anybody buy Nicaraguan goods if they are so overpriced in dollars? Meanwhile, imports were artificially cheap because 28 cordobas bought a dollar worth of imports. These things were tightly controlled, of course: probably if you had the right connections in the bureaucracy, and you had an import license and an invoice, you could buy a cheque payable to the factory overseas.

Now, are most countries doing better as far as providing a reasonable exchange rate, where you can buy and sell U.S. dollars?

AnotherDave
02-01-2016, 09:26 PM
Can anybody give me a general idea of whether things have gotten better or worse on this:

In 1985, the Nicaraguan cordoba was at 28 to the U.S. dollar officially, but I was being offered as much as 1000 cordobas to the dollar. This means that if somebody donates dollars to a charity to help poor Nicaraguans, the charity would only get 28 cordobas to each dollar and would not be able to provide much help. Why would anybody buy Nicaraguan goods if they are so overpriced in dollars? Meanwhile, imports were artificially cheap because 28 cordobas bought a dollar worth of imports. These things were tightly controlled, of course: probably if you had the right connections in the bureaucracy, and you had an import license and an invoice, you could buy a cheque payable to the factory overseas.

Now, are most countries doing better as far as providing a reasonable exchange rate, where you can buy and sell U.S. dollars?

Why are you looking for "reasonable" in fiat? By definition it's whatever they say it is. Period.

amrirudi
05-03-2018, 03:05 AM
Now days almost people using fiat as currency..maybe if US fall we will use another currency..