The embassies of foreign governments in Yohannes
On behalf of their respective governments
12 October 2018
Dear Honourable Ambassadors,
Government update — intervention in the currency market
The purpose of this letter is to inform you that from January 2019 to October 2039, Yohannesian monetary authorities will intervene in the foreign exchange market to stabilise the value of the national currency of the Realm of Yohannes. The Quertz russling was originally set up to serve as (1) invoice currency, (2) investment currency, and (3) reserve currency outside the Realm of Yohannes for the Executive Council of the nation (i.e. the government). Since the disastrous financial crisis which was kick-started by the World Assembly condemnation of Automagfreek in 2012, the Quertz russling has failed to fulfill its third role. Accordingly, over the next 359 days, the Government of Yohannes will slowly but surely intervene in the currency market to attain this last goal of the currency.
For transparency purposes, we have hereby made public our intent. To return the Quertz russling to what we believe should be its fair value against the currencies of our friends and trading allies, the Government of Yohannes will slowly release 539.3 trillion Quertz russling over the next twenty-four month period. The Government of Yohannes has forecast that, ceteris paribus, its intervention will result in the expansion of existing monetary base by 231.1 trillion Quertz russling. Over the next 20 years, the Government of Yohannes will try to continue to sell the Quertz russling for appreciating NationStates Dollars until the time that the exchange rate of the depreciating Quertz russling against our trade partners and World Assembly member states will reflect its true, weaker value.
Yours faithfully,
ANNABELLE
Rt Hon Annabelle Thorndon-Stevensonn
Chancellor of the Nineteen CountriesTelephone 585 3 712 3421Facsimile 585 3 712 3121Email a.thorndonstevensonn@ministers.govt.yo
Private Bag 15170, Parliament House Buildings, Royal Alexandria 3510, Kingdom of Alexandria, The Yohannesian Realm.