IQD is Moving on Forex against USD (trading still not possible?)

[WISKY291]

Thanks, Rayzur. I always look forward in reading your post.

[Rayzur]

Thanks, I should have said I lifted every word from a WTO Working Paper on the subject of internationally recognized currency... I noticed a lot of words in this article being the same as the words used by the IMF chatting it up with Iraq in making monetary policy recommendations....

 

I also notice how many goo roos confuse monetary policy with fiscal policy.... and would guess that's why so many rabbit holes get created?

[staunch]

I would say NO, try to go to a currency exchange kiosk and try to exchange, I would say that its not possible, UNTIL it is internationally trade-able... you can probably only exchange in Iraq. Im just thinking out loud.... I could be wrong...

From the way I understand it (which is undoubtedly wrong), the IQD is internationally tradeable. Banks have just chosen not to handle the dinar. For whatever reason I don't know but, I don't think there is anything saying that they can't if they so choose. Doesn't make a lot of sense though, there is money to be made on the spread regardless of the value of the dinar.

Has anyone ever heard the official reason as to why they stopped handling the dinar?

[Raleighwood]

From the way I understand it (which is undoubtedly wrong), the IQD is internationally tradeable. Banks have just chosen not to handle the dinar. For whatever reason I don't know but, I don't think there is anything saying that they can't if they so choose. Doesn't make a lot of sense though, there is money to be made on the spread regardless of the value of the dinar.

Has anyone ever heard the official reason as to why they stopped handling the dinar?

From getting thousands of calls daily from okie followers asking about a RV.  Money that banks have on hand thats foreign currency is not really intended to be sold for investment purposes. Its for the people that are actually traveling abroad and need that currency for daily transactions. There are so many reasons why. They mainly dont want to be caught up in the potentially negative outcome and how people could react should the worse happen.

[staunch]

What you said does make sense, but they were handling the dinar for years and they just up and quit! Why all of a sudden when it's prospects have only been improving?

[Raleighwood]

What you said does make sense, but they were handling the dinar for years and they just up and quit! Why all of a sudden when it's prospects have only been improving?

The dinar craze has done nothing but gotten worse over the years. And if you ask most financial experts and banking experts, we are crazy for thinking the dinar will improve in value to what a lot are expecting and proclaiming. Not to mention the possibility of only being able to exchange our dinar in country. No one wants to touch it except us speculators!

[chess]

....exactly, the purported "scam" stigma became pervasive. A few years back, the 5th/3rd tellers and mgrs. were not just selling

Dinar, but loading up for themselves!