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Iraqi Dinar Currency is Moving towards IQD Revaluation: Experts


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It is supposed that the Iraqi dinar currency be attached to a basket of major currencies, international reserve currencies, which is powerful in foreign trade and capital markets. Iraq has been used to facilitating bilateral ties in its monetary history. There isn’t any secret to the followers of controversy on bilateral connection, specifically in the U.S dollar. The initial source of foreign currency to Iraq has been considered the U.S dollar. The official international reserves of U.S dollar are estimated at about 65%. Point to be noted that foreign trade of Iraq mainly depends on the U.S dollar currency with its neighboring and Asian countries. It has been considered a real fact that most international currencies depend on the U.S dollar to intervene in the international currency market. Iraq is also operating currency operation window in the Iraqi Central Bank with U.S dollars. It is essential to interact with the currency basket proposal and in finding methods of exchange rate movement according to this system.

The exchange rate of Iraqi dinar is connected to a basket of currencies changing values. It for those interested and decision makers to analyze the performance of this system in considering how it differs from the bilateral connection. During the entire current year, the average U.S dollar exchange rate against Iraqi currency was recorded at 1200 Iraqi dinars per U.S dollar. The exchange rates of other international currencies change in Iraqi dinar currency according to their exchange rates. The proposal to adopt a basket of currencies instead of bilateral connection might mean a change of U.S dollar exchange against Iraqi dinars. It will be according to the exchange rate of the basket currencies against the U.S dollar. When we talk about pricing of Euro or British pound, it depends on the exchange rates between these currencies and the U.S dollar.

http://banking.einnews.com/article/4...OtqdZ6963yk%3D

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I subscribe to that site, for information purposes only......I'm surprised at myself that I missed it!!! :facepalm2:  Copy and paste below, if the MOD's are cool with it.....and I'll be cool with more whiskey later tonight!! :cheesehead:

 

Iraqi Dinar Currency is Moving towards IQD Revaluation: Experts

2 days ago by Iraq123 News Comments Off on Iraqi Dinar Currency is Moving towards IQD Revaluation: Experts
 

It is supposed that the Iraqi dinar currency be attached to a basket of major currencies, international reserve currencies, which is powerful in foreign trade and capital markets. Iraq has been used to facilitating bilateral ties in its monetary history. There isn’t any secret to the followers of controversy on bilateral connection, specifically in the U.S dollar. The initial source of foreign currency to Iraq has been considered the U.S dollar. The official international reserves of U.S dollar are estimated at about 65%. Point to be noted that foreign trade of Iraq mainly depends on the U.S dollar currency with its neighboring and Asian countries. It has been considered a real fact that most international currencies depend on the U.S dollar to intervene in the international currency market. Iraq is also operating currency operation window in the Iraqi Central Bank with U.S dollars. It is essential to interact with the currency basket proposal and in finding methods of exchange rate movement according to this system.

Iraqi Dinar Currency is Moving towards IQD Revaluation: Experts

The exchange rate of Iraqi dinar is connected to a basket of currencies changing values. It for those interested and decision makers to analyze the performance of this system in considering how it differs from the bilateral connection. During the entire current year, the average U.S dollar exchange rate against Iraqi currency was recorded at 1200 Iraqi dinars per U.S dollar. The exchange rates of other international currencies change in Iraqi dinar currency according to their exchange rates. The proposal to adopt a basket of currencies instead of bilateral connection might mean a change of U.S dollar exchange against Iraqi dinars. It will be according to the exchange rate of the basket currencies against the U.S dollar. When we talk about pricing of Euro or British pound, it depends on the exchange rates between these currencies and the U.S dollar.

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JoeB, Freedomwish, I like the looks of this as well. We are heading in the right direction and as we move forward Abadi is hammering down on the corruption and each day we see more CBI news. Thanks guys, very much appreciated  :twothumbs:

Hey Freedomwish, when this thing pops save me a seat at the bar bro :drunk::cigar:

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Good find. 

 

I met a gentleman at my work last week. 

He was a retired professor in electrical engineering. He started an exotic currency business after retiring from teaching.  

I mentioned the Iraq Dinar. I told him i thought it would RV by the first of the year. He said, “i heard that”. 

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23 hours ago, Wiljor said:

JoeB, Freedomwish, I like the looks of this as well. We are heading in the right direction and as we move forward Abadi is hammering down on the corruption and each day we see more CBI news. Thanks guys, very much appreciated  :twothumbs:

Hey Freedomwish, when this thing pops save me a seat at the bar bro :drunk::cigar:

 

Meet me in the VIP section, I got you!! :twothumbs::cheesehead::moneybag::undocumented:

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This would be a positive move to get away from US controlled currency.   However "a basket" of other currencies lends more to the speculation of currencies.  The great worry would be China and its manipulations.  A wrong call by the RBI could also lead to disaster.

JMO FWIW

Edited by OfCamelot
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An after thought to my comment.
 

The Saud's and the Chinese have long since tried to diminish the US $ as a denominator of value as an international marker.  It would be interesting to see how both these countries try to fill the basket.  The Saud's would be a better choice than the Chinese who would flood the market with their products and drop their value.  A point to note that the Chinese market is struggling and on the decline, so I speculate that they want into the market.  On the flip side, the Sauds would bolster the Dinar as it would give  them an additional foothold in Iraq which gives them more influence on the Iraq - Iran co-operation.  After all the Saudi's do want Iran to disappear.

Interesting set of probabilities.

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