Who determines the currency exchange rate?
The currency exchange rate for converting Millennium Dollars® into U.S. dollars (USD) will float over time. Inasmuch as anyone can offer to convert MR$ into USD, the market will ultimately determine the currency exchange rate for the Millennium Dollars®. However, the sponsor intends to auction MR$ notes on the Internet. If all goes well, then the sponsor will initially use the weighted average sales price of the MR$ notes at auction to determine the initial currency exchange rate.
