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Showing results for tags 'Tlar update'.
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I would think Iraq wants to be a full member of the GCC... ******************************************* 12-9-2013 Newshound Guru Tlar Article: "Iraqi Chamber of Commerce: Iraq to join GCC Chambers of Commerce [Gulf Cooperation Council Chambers of Commerce]" IMO Iraq will not be a full member of the GCC until they have a currency with value. The main reason is that the GCC will have a common currency with which to do trade in. It is a basket of each member countries currency. It is determined at the rate of exchange of each country at the time the common currency comes into being. 12-9-2013 Newshound Guru Tlar There are rules to this basket. How much a currency can increase or decrease in value each year is limited to a specific predetermined percentage. The purpose is to stabilize the rates. Iraq would be stupid to join the GCC in the common currency at these levels locking them in at 1166, to a slow growth from there. I feel very sure they will not join while their currency rate is this low. ******************************************* The logic seems reasonable to me and would imply that Iraq will RV a significant first bump and not a gradual float upward like so many are saying. I'd love it to start around a buck, but would still be happy if we get 10 cents like Adam always has said. And whatever it is, I just hope it's soon!! Goooooo RV!
