19th December 2018
Overnight, markets saw shortbread consumption increase exponentially as the AUD held steady against Reindollars. This comes off the back of what was a rather unsteady year for traders in the North Pole.
As Leader of the North Pole, Santa Claus, finishes his biggest night of the year, let’s take a look back at market impacts on the Reindollar in 2018.
As Aussies deliberate the effect that climate change will have on the AUD, environmentalists in the North Pole have been facing their own fight. Over the past five years, there has been increasing downward pressure on the value of the Reindollar as a result of climate change.
Melting ice caps and rising sea levels continue to threaten the stability of the North Pole. Santa’s workshop has recently undergone extensive refurbishment to reinforce its stability, as well as introduce environmentally friendly initiatives to reduce carbon footprint. The new initiatives include:
- A complete ban on plastic straws and the implementation of a Candy Cane alternative. Not only is this great for the environment, but local dentists have seen a massive spike in demand for their services.
- The formation of the North Pole COALition, a group of elves dedicated to finding a renewable alternative to coal for those on the naughty list.
- Biodegradable tinsel
- Gingerbread composting
- Hydroponic gardens to ensure a consistent supply of carrots and lettuce for the reindeer
It is worth mentioning the North Pole tried transitioning to solar energy. Whilst this initiative proved effective during the summer as the pole experienced six months of sunlight, the following six months of darkness during winter really threw a spanner in the works. Luckily, this coincided with children around the world swapping bikes for electric scooters on their wishlists. The elves were able to rig up all of the now unwanted bikes in a cycle station that now powers the pole during the winter.
The best bit? The elves have lost a collective 2000 cm from their cycling, and no longer need to battle blizzards for bulging biceps. Now there’s a way to work on your summer bod.
The last few months have seen a decidedly unfestive trade war erupt between the North Pole and the burrows of Easter Island, as Santa and the Easter Bunny discuss tariffs and the exchange of naughty/nice list information.
The two economies rely quite heavily on each other, as Santa imports all of his Christmas chocolate from the Easter Island burrows. Likewise, the Easter Bunny requires Santa’s hydroponic carrots to feed his ever-growing family (you know what rabbits are like).
Increasing demand for carrots and decreased demand for chocolate as parents become more health conscious has seen the two parties negotiate their current trade deal. The two parties have agreed on a 90-day truce over the festive season as Santa delivers his presents and the Bunny prepares for Easter.
Whilst markets remain cautious, Santa’s recent purchase of 500,000 tonnes of cocoa beans from the Easter Bunny is a promising sign that has pushed the value of the Reindollar up slightly.
Technological advancements have seen elves needing to upskill quickly. However, it has also seen automation advances that has resulted in a number of elves lose their jobs to machines. The increase in the unemployment rate has not helped consumer sentiment, with unpromising figures being announced last week.
Santa has promised the unemployment rate will be a key focus in the new year, and was able to offer some Christmas casual roles in the workshop to a number of elves to help them get through the festive period.
With Santa in the workshop preparing for Christmas over the past two months, chief Elf Gerald Rinch (or G.Rinch for short) has been handling all poleitical affairs.
It appears his motives lacked Christmas spirit, as he imposed a 15% tax on hot cocoa and a 25% tax on red and green stockings. In addition to this, G.Rinch also rallied enough votes to put forward a leadership challenge against Santa.
Thankfully, Santa came through with an overwhelming win and removed all taxes. This leadership challenge was tumultuous for the Reindollar, however, it has come out on top with renewed market confidence as Santa is back in the sleigh, so to say.
What does all of this mean for travellers?
Christmas day means a celebration for elves and humans alike, with all of us excited for the break that coincides with the festive season.
As the elves hang up their tools and nurse an eggnog hangover, they are also packing their tiny suitcases, ready for a summer escape. Similarly, many Aussies are also packing their bags ready for a beach holiday, or an escape to the northern hemisphere's winter wonderland.
Regardless of where you are travelling, you are going to need some holiday cash. Should you be heading to the North Pole, remember the Reindollar is a closed currency, so you can’t purchase it until you arrive. Don’t stress though, you can purchase USD, which is the local currency of the North Pole and exchange it for Reindollars when you arrive.
Last but not least, don’t wait until the airport to purchase your currency (it seems G.Rinch is behind some rather un-merry airport exchange rates there). Instead, you can purchase USD (or your preferred holiday currency) in store or online with Travel Money Oz. Our online store is open 24/7, otherwise, see your local store for their holiday trading hours.
This blog is for satire purposes only and is not a reflection of actual market movements. The Reindollar is a fictional currency created by Travel Money Oz for the purpose of this article and is not actually available for purchase (we really wish it was though). You should consider whether the information and suggestions contained in any blog entry are appropriate for you, having regard to your own objectives, financial situation and needs. While we take reasonable care in providing the blog, we give no warranties or representations that it is complete or accurate, or is appropriate for you. We are not liable for any loss caused, whether due to negligence or otherwise, arising from the use of, or reliance on, the information and/or suggestions contained in this blog.
All rates are quoted are market rate and may not be available to the general public.