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RT'ers,
This fellow sent me the attached post. Thought he would be better
served by someone specialising in the DM-USDollar spread.
He didn't mention if he was going to be trading this in the cash
market or not.
Does anyone out there have an opinion on where this spread is heading?
:)
Walt Downs
CIS Trading
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To: knight@xxxxxxxxxxxx
Subject: Re: FUTR GEN: CIS GLOBEX Update
X-Mailer: <Windows Eudora Version 2.0.2>
sir, i'm earning my bread and butter in a country which recently implemented
the currency board and the local currency is tied to the DM at a ratio of 1
DMl =1000 BGL
Since the country's foreign trade, foreign debt and imports are
predominantly denominated in USD I'll high;y appreciate yr estimation for
the exrate DM-USD in the future (1 - 3 - 6 months). I intend to speculate a
little with the 3 currencies - DM, USD and the local BGL. eg the last
frankfurt quotation was 1 usd = 1.778 DM but on the local forex market the
ratios were 1 DM=1000 BGL (fixed with a tolerance allowed by law is plus
minus 5 %) but the banks quoted 1 USD for 1778 BGL .
Can you provide some data profing yr estimates. pls forward this msg to all
the RT's, i'm curious about the eventual discussion. tnks & rgds,
Iwan D. Angelow, Europe, Bulgaria, 1407 Sofia, POB 71
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