Jeff

  In Jeff

Why the timing of the rate change has anything to do with a budget period?  Here’s why…Countries calculate their budgets off the value of the currency.  In order for them to approve a budget, whatever currency value they’re going to utilize has to be released publicly…That means the rate has to change before the budget can be approved…Kuwait changed their rate on March 24th of 1991…before their April 1st budget period.  It’s that simple.