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In the immediate move the Banks are allowing travel Dollars and some personal expenses charged to credit cards etc...that limit has not been entirely set in stone yet. The next logical progressive step will be to make Dollars available for business transactions. This will encourage foreign investments who can freely invest and withdraw at will. Once that is true, the Dinar will move up in value.
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A few years ago I posted an opinion that we should not expect the Dinar's value to increase till around 2025.....and I got blasted by members here. This latest headline is indeed good news. And right on track to see the increase in the Dinar value by 2025 and after. What remains to be seen is how much the banks will make available to the open market. The more it releases, the "havallah" rate will drop which will encourage foreign investment who would then have the ability to freely move Dinar's to Dollars and vis-versa in the operation of normal daily business. Should this occur, Iraq's GDP will bet stronger, which will raise the value of the Dinar against the dollar. This is good news indeed !!
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Does anybody know what percentage of the currency is held by foreign nationals ?
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I just watched a movie. Backstabbing For Beginners. Its based on a true story about the corruption that surrounds Iraq. With Iraq, its all about the oil. Always has been. Despite the expose by the media, nothing has really changed. Same story line...different players. Which is why Iraq has been and will be in turmoil for years to come. The largest culprit for the failure of Iraq in its bid for freedom is the UN.....and the US as major players. The UN really dont want Iraq to be prosperous and independent. On a narrow scope think about the RV and the value of the Dinar in relation to the corruption and greed. Until such time that the population of Iraq is helpless to make the change for themselves, Iraq may just never be the prosperous country it used to be, despite Saddam. I really enjoyed this movie. Its worth a watch. Cheers !
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Delta: We All Get Paid The 1st Week Of Dec. A Very Merry Christmas.
OfCamelot replied to Luigi1's topic in Dinar Rumors
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What a crock of crap!!
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Al-Kadhimi reveals the details of the "white paper"
OfCamelot replied to Pitcher's topic in Iraq & Dinar Related News
It would be interesting to find out more about this cashe of gold and what the US plans for it are. I wont be surprised if its been appropriated for the cost of war. That said, there has been no reduction in the national debt regarding the cost of war in Iraq. Wonder what has happened to this asset that rightfully belongs to the Iraqi people. Worth the while to do a little digging. Thanks Dinarham. -
Al-Kadhimi reveals the details of the "white paper"
OfCamelot replied to Pitcher's topic in Iraq & Dinar Related News
And you are the chauffer !!