Japan may drop zeros from yen (rebasing thier currency)

[Stout Hearted Man]

I did a search on "rebasing currency" and came across this article from 2001...I'm not thrilled about it.


______________________________________________

Tuesday, 6 March, 2001, 13:37 GMT

Japan may drop zeros from yen


The 2,000 yen banknotes could be shrunk to 20 yen


Japan's ruling Liberal Democrat party is mulling rebasing its currency, according to national press reports.

The change would mean that a couple of zeros would be lopped of the end of the yen, making one unit worth a hundred times more.

http://news.bbc.co.uk/1/hi/business/1205023.stm

[Shau - Kenshin]

Dude..... stop man you're killin me...

[MrsCK]

Did this really happen? I haven't found anything says it did, still digging but the only info I have stops in 2004 and it shows Japan's as:

1 April 1978 -present
managed float (IMF: independent float) International Monetary Fund, Board of Governors, Resolution No. 31-4, 30 April 1976 ("Second Amendment") The system of gold par values officially ended by agreement of IMF members. RR: Freely floating.

Any help on this would be great.....JMO if they didn't do it then maybe they put it out there to run investors off like iraq is trying to do.

[Bear]

I did a search on "rebasing currency" and came across this article from 2001...I'm not thrilled about it.


______________________________________________

Tuesday, 6 March, 2001, 13:37 GMT

Japan may drop zeros from yen


The 2,000 yen banknotes could be shrunk to 20 yen


Japan's ruling Liberal Democrat party is mulling rebasing its currency, according to national press reports.

The change would mean that a couple of zeros would be lopped of the end of the yen, making one unit worth a hundred times more.

http://news.bbc.co.uk/1/hi/business/1205023.stm

making one unit worth a hundred times more. Sounds good to me.............

[AJOB]

Todays rate for Dollar to Yen is 1.00 USD = 110.512 JPY
so they never went through with it for some reason. Question is why?
They were also fighting an 11 year recession and were desperate to do something.

[8ball]

Ok so lets look at what currency they have........
The yen is the Japanese currency unit. There are four kinds of bills (10,000 yen, 5,000 yen, 2,000 yen 1,000 yen) and six kinds of coins (500 yen, 100 yen, 50 yen, 10 yen, 5 yen, 1 yen) used. Japanese currency is designed to facilitate easy use by people with sight impairments. All of the bills and coins are different sizes. For example, the bills descend in size from 10,000 Yen to 1,000 Yen. Each bill also has raised bumps in the bottom, left corner (if looking at the bill from the front).



8ball

[JPmonopoly]

I did a search on "rebasing currency" and came across this article from 2001...I'm not thrilled about it.


______________________________________________

Tuesday, 6 March, 2001, 13:37 GMT

Japan may drop zeros from yen


The 2,000 yen banknotes could be shrunk to 20 yen


Japan's ruling Liberal Democrat party is mulling rebasing its currency, according to national press reports.

The change would mean that a couple of zeros would be lopped of the end of the yen, making one unit worth a hundred times more.

http://news.bbc.co.uk/1/hi/business/1205023.stm

they must have decided against this but it does show rebasing
is a lop

making one unit worth a hundred times more. Sounds good to me.............

I was wondering who would be the first

[Bear]

I may be wrong but i was under the line of thought that!!

A lop just reduces the value of the Note.....Unless Followed by an RV or the Currency............

[JPmonopoly]

I may be wrong but i was under the line of thought that!!

A lop just reduces the value of the Note.....Unless Followed by an RV or the Currency............

for ease of calculation lets say the yens rate was 100 yen = 1 usd

Before a lop, rebase or re-denomination
2,000 yen = $20 usd

After a 2 zero lop
The 2,000 yen banknotes could be shrunk to 20 yen

20 yen = $20 usd

The number value of the note is reduced but not its worth.

[rueben]

"But there could also be harmful side-affects, such as opportunistic price rises during the conversion period."

Sounds like they were concerned about currency speculation. :)


If Iraq wants to play ball on the international stage, they're going to have to bite the bullet.

[SunnyGift]

I started a thread 3 months ago on another forum...

Japanese Yen is going to RV..

[diamondback]

Global Unilateral Currency Revaluation of 2007!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Vietnam, South Korean, Bhutan, Loas, China, Japan, Saudi Arabia, Emirates, Iraq, Colombia, Chile, Uruguay, Paraguay, Nigeria, Kazahzstan, Iran, Russia, Indonesia, Taiwan, Hong Kong, Baharain, Qatar.

Bretton Woods III of 2007

IMF Executive Board Concludes 2007 Article IV Consultation with Japan
August 6, 2007
http://www.imf.org/external/np/sec/pn/2007/pn0796.htm

Yen is Undervalued and the Effective Real Exchange Rate 2007 at 1USD/64 Yen

Could happen this year notice the Date of the consultation just like the USD and IQD and many more???????????????????

[Stout Hearted Man]

Dude..... stop man you're killin me...

Yeah, that photo got me too!
Don't they look like 25,000 NID notes?

Did this really happen? I haven't found anything says it did, still digging but the only info I have stops in 2004 and it shows Japan's as:

1 April 1978 -present
managed float (IMF: independent float) International Monetary Fund, Board of Governors, Resolution No. 31-4, 30 April 1976 ("Second Amendment") The system of gold par values officially ended by agreement of IMF members. RR: Freely floating.

Any help on this would be great.....JMO if they didn't do it then maybe they put it out there to run investors off like iraq is trying to do.

I don't know if they did, but I'm sure all countries would say whatever they believed they had to say to discourage speculators.

So what is this saying?
If NID lops three
1.219
.0000008
.81
25,000
25.

JK!

The Rebasing article that just came out sends "mixed signals" so its hard to say. The only thing I believe in the article is that they will come to a "decision" on how to raise the dinar's value in 3 months...That I'm excited about!

they must have decided against this but it does show rebasing
is a lop

That's what jumped off the page at me. It definately IS a Lop.

Sounds like they were concerned about currency speculation. :)

If Iraq wants to play ball on the international stage, they're going to have to bite the bullet.

IMO, YES and YES!

I started a thread 3 months ago on another forum...

Japanese Yen is going to RV..

Global Unilateral Currency Revaluation of 2007!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Vietnam, South Korean, Bhutan, Loas, China, Japan, Saudi Arabia, Emirates, Iraq, Colombia, Chile, Uruguay, Paraguay, Nigeria, Kazahzstan, Iran, Russia, Indonesia, Taiwan, Hong Kong, Baharain, Qatar.

Bretton Woods III of 2007

IMF Executive Board Concludes 2007 Article IV Consultation with Japan

August 6, 2007
http://www.imf.org/external/np/sec/pn/2007/pn0796.htm

Yen is Undervalued and the Effective Real Exchange Rate 2007 at 1USD/64 Yen

Could happen this year notice the Date of the consultation just like the USD and IQD and many more???????????????????

I am begining to wonder how many countries have undervalued currency. After this investment comes to its finale I think I will look into it.

__________________________________


Just for the record.

I am still buying NID and ONLY when this investment comes to its conclusion will I return my dinar to Iraq.

My opinion is that Iraq will not rebase/lop but will revalue their currency. We'll find out in 3 months according to the Finance Minister.

[TerryTate]

for ease of calculation lets say the yens rate was 100 yen = 1 usd

Before a lop, rebase or re-denomination
2,000 yen = $20 usd

After a 2 zero lop
The 2,000 yen banknotes could be shrunk to 20 yen

20 yen = $20 usd

The number value of the note is reduced but not its worth.

Well at least that i good news.