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A Minor Devaluation At Anytime.


Luigi1
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Luigi says...

If this article has any meat to it, we could see an immediate minor devaluation at any time.

Could this be the so called sucker rate prior to the full blown RV the Intel Newshounds were talking about?

Your views on this article.

Treat as a rumor until the article is authenticated...

 

 

CBI Cheif Sees Limited Risk Of Dinar Devaluation

RO: Central bank Governor Ali Mohsen Ismail said Iraq has enough foreign reserves to maintain its currency peg but didn’t rule out a minor devaluation to shore up government revenue hurt by the slump in oil prices and the war on ISIS militants.
Reserves are enough to cover more than six months of imports, higher than what is typically needed to maintain the exchange rate, Ismail said in an interview in Cairo Sunday. This year’s budget deficit will likely be lower than the 25.4 trillion dinars ($20.9 billion) originally planned because the Finance Ministry is already cutting spending, he said.
“There is no fear for the dinar,” the governor said. However, if “the pressure remains, we could marginally change the exchange rate to increase revenues of the Finance Ministry,” he said. “This is just an option that needs to be carefully studied because we don’t want to give away what we have achieved in terms of the inflation rate, which is perfect now.”

Could we see .10 cents out the gate?

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Why wouldnt he get a neg?  He posts nonsense all day every day.  Here is an article talking about a devaluation of the dinar.  He asks if this is possibly a sucker rate and asks if we could see 10 cents out of the gate.  The dinar is currently worth 1166 per dollar and the article is talking about lowering it even more, not increasing it to 10 cents.  Sure the article warrants a post in the NEWS section but its just an opinion piece.  Luigi has resorted lately to even making crap up himself like posting currency converter screen shots where its conveniently been set at 10,000 dinars vs other currencies in fine print to add to the confusion.  I dont believe he believes anything he posts, he clearly gets off on feeding into the dumb masses that follow some of the gurus.

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Why wouldnt he get a neg?  He posts nonsense all day every day.  Here is an article talking about a devaluation of the dinar.  He asks if this is possibly a sucker rate and asks if we could see 10 cents out of the gate.  The dinar is currently worth 1166 per dollar and the article is talking about lowering it even more, not increasing it to 10 cents.  Sure the article warrants a post in the NEWS section but its just an opinion piece.  Luigi has resorted lately to even making crap up himself like posting currency converter screen shots where its conveniently been set at 10,000 dinars vs other currencies in fine print to add to the confusion.  I dont believe he believes anything he posts, he clearly gets off on feeding into the dumb masses that follow some of the gurus.

We know it's Lougi1, we know he posts nonsense, but not every time... Just because it says Moose 57 doesn't mean I am posting a joke! (Lougi1 & myself are about equal on that)!

Edited by moose 57
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