PASSED | AINERO Reform Bill

The following bill allows for:

- The creation of a new, unpegged AINERO
- Giving the Minister of Trade or the Executive, the power to adjust the currency on a regular basis
- The reallocation of the AINERO symbol

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Firstly, this bill provises for the introduction of a new common currency that must be accepted by banks of all AIN nations (retail use or genral circulation is optional). Unlike the old AINERO, this will not be pegged to 3 USD and instead follow a system by which a conversion of the currency is posted regularly by the Trade Minister or alternatively - the Executive. This will allow for more relaisitic conversions instead of having an unusually strong currency. The Trade Minister may choose to peg the AINERO to any real life currency on the condition that it remains realistic.
On the passing of this bill, the old AINERO will be discontinued as the official AIN currency and all union trade and department budgets must be presented using the new AINERO, the old AINERO will be withdrawn from general circulation in six months and will not be printed after 30th December 2011.
The :AINERO: symbol will also be discontinued and the new AINERO will use the ₴ symbol which is available in the symbol tool in word and will be made an emoticon for use on site as well.

A conversion chart has been published for the new currency until it is readjusted in January...

By the way, I approved of this.

I like this it gives a more floating exchange rate

Nice idea Neil! I like the new currencies rate.

I have to agree because the old AINERO is very unrealistic.

I like this.
Could we add national currencies to that chart as well?

A little suggestion: How if we update the rate once in a week?

I think the AINERO is too high in price. I'd say the maximum high should be 1.5 us or 2.

I agree with Julien. I'd suggest putting it at 1.5 USD, 0.5 Euros and 0.75 Pound Sterling.

Yeah, agree with you Thomas, we want realism the most important thing!

I agree a lot with Julien and Thomas. The current rate (US$3) is too high, I would like to have it rate around 0.5 - 1.

1 new AINERO = 0.64 USD
1 old AINERO = 3 USD

is that not a bit more realistic?

Hmm.. it's already realistic IMO.

Surely US$0.64 is quite hard to calculate? Maybe a simpler exchange rate would be needed to make currency calculations easier.

I suggest 1 AINERO = US$0.75

The first rate was derived from the Turkish Lira. The whole point is that the AINERO is no longer pegged to a currency. By making 1 AINERO = 0.75 USD is pegged.

To work out all you need to do is follow the master conversion chart, updated monthly - which will include major AIN and RL currencies.

I agree with neil the Ainero shouldn't be pegged to another currency. Only despots peg their currencies to someone elses. It shows weakness in an economy if they are.

How bout we post the Formula to work out the conversion that way people have an idea of how to do it and won't be scared of it..

I suggest a real historical weekly update of our currency according to the evolution of whole AIN economy, for example, if our economy this week is in a descending rate AINERO value will dcrease face dollars and euro and libra and vice-versa, if our economy is evoluting in a positive way AINERO value will increase, don't you agree?

MiguelLeal wrote:I suggest a real historical weekly update of our currency according to the evolution of whole AIN economy, for example, if our economy this week is in a descending rate AINERO value will dcrease face dollars and euro and libra and vice-versa, if our economy is evoluting in a positive way AINERO value will increase, don't you agree?

I don't understand a word of that.

I don't understand the last sentence, but the first is pretty clear

Sorry... my English is not perfect! Per example:

AIN Exchange - + 2,56% ; EU Exchange- + 0,45 %; ... » In this case AINERO is valorizing face euro.

BUT
If

AIN Exchange- -0,67 % ; EU Exchange- + 2,56%; ... » Euro is valorizing face AINERO.

Do you understand now? :suspect:

If I'm understanding Miguel correctly (and by no means do I understand all of what he wrote), he means that when the AIN Exchange (?) increases relative to the EU Exchange (?), the AINERO will gain value compared to the euro, and when the AIN Exchange decreases relative to the EU Echange, the AINERO will lose value compared to the euro. Presumably, the same would hold true for any other currency. I think it sounds like a cool idea, though I'm not sure how we would implement it (do we even have a currency exchange?).

We had one.

You got it woodb3kmaster! That is what I wanted to say!

Oh, now I get it.
If I remember correctly, we had one in the past and it just became a nuisance for the person who had to update it weekly.