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Post by The President on Feb 27, 2008 11:06:26 GMT -5
From 30/1/08
BM2 Note Release
The first BM2 (Banknote Mark 2) banknotes were produced today. The new banknotes are more secure and more practical than the BM1 banknotes, one of which is pictured on the Economy page of our site. The new banknotes will be produced in NK$500, NK$5 and NK$1 denominations to begin with and will eventually be produced in NK$10 and NK$100 denominations, replacing the Banknote Mark One variant which is currently in circulation.
Circulation Stats.
Current circulation statistics are as such: NK$10: 5 NK$100: 14 NK$500: 2
This means that a total of 21 notes are in curculation, with a total value of NK$2,250, or GB£205.
Unpegging of Economy, Greater freedoms for Fed.
The government has recently discussed the idea of unpegging the economy. This would involve freeing up the exchange rates and interest rates for the first time and maybe putting a stock market in place. These moves would mean that the Federal Reserve would have greater freedom to manouver and that the GDP would most probably improve, however it would mean that the WRK's economy would be at the will of market forces. This matter will be debated in the senate.
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