[MoF] An update on the BEF rates

Day 1,154, 01:15 • Published in Belgium Belgium • by NBB-BNB


Dear citizens of our beautiful eBelgium,

About two-and-a-half week ago, I wrote an article about the situation on our monetary market. We faced some days where the rates went up from 1 BEF = 0.019 G to 1 BEF = 0.021 G (and even higher for some moments). I explained how that was caused, and that the government wouldn’t act too fast on it, but to give the market the opportunity to balance again naturally. Flooding the market with BEF would create a risk later on, and might crash the rates of the BEF to some all-time low. Therefore, I’ve chosen a more smooth approach.

Currently, we see that the natural balance indeed occurred. The rates went slowly back to 1 BEF = 0.019 G. There even popped up some offers of 1 BEF = 0.018 G, which I have bought of the market with NBB-BNB. Also note: every offer bought at 0.018 G can later be sold at 0.019 G, so stabilizing can even provide a small profit for our country!

I am now glad that we took a careful approach when the rates were at 0.020 / 0.021, and we didn't flood the market with BEF. This makes for a whole lot easier MM management now. I would like to express my thanks to all of you for the patience of letting this natural balance restore. It might have created a bit harder circumstances to export products, and I’m glad you all withstood the period without complaining.

I can understand that there will be some concerns when offers of 0.018 G are put on the market. However, we didn't waste gold over the last months. This ensures that we have a very healthy financial situation of our country, and that we have the means to counter the smooth fluctuations in the rates. (I have to mention the help that Palodigon's generous donation will bring too! - although the loss of such a player really hurts to eBelgium and eRepublik as a whole... )

I’m online very often, but I am not online 24/7. Sometimes an offer of 0.018 G might be on the market for a small amount of time. Rest assured that I will buy it as soon as I log in again with NBB-BNB. You might even consider to buy the offer yourself at that time: if you can later sell it at 1 BEF = 0.019 G, you will even make a small profit.

Speaking of profits by selling currencies: If you have questions about how you can make profits on the monetary market, you should really check out the eRepublik Wiki. A good start would be the Belgian Library, but there's a load of information to be found there. Or why not ask your fellow citizens on the eBelgian forum for tips and tricks?

Kind regards,

Your Minister of Finances,
Boklevski