uncirculd Posted June 5, 2016 Report Share Posted June 5, 2016 could it be just that they are as confused as they were 8 years ago? Quote Link to comment Share on other sites More sharing options...
jeepguy Posted June 5, 2016 Report Share Posted June 5, 2016 2 hours ago, uncirculd said: could it be just that they are as confused as they were 8 years ago? I don`t think they are too confused , more like they are tight fisted with any money leaving the area , for buying back dinar , but then again if they would do an increase in value to dinar then the poor folks would have a voice , have power ... so I think they have a plan but it isn`t something we would think logical ! ( j.m.o. ) Quote Link to comment Share on other sites More sharing options...
Synopsis Posted June 5, 2016 Report Share Posted June 5, 2016 What could be happening here is two fold. First, raising the exchange rate to 1,300 IQD = 1 USD could help level the exchange rate on all venues since there is some variation now (less then 1,300 IQD = 1 USD) to prevent corruption and potential mismanagement once the IQD is revalued. Second, raising the amount of IQD to purchase USD accelerates pulling the IQD out of circulation and dollarizing the economy. Iraqis may wan to part with their IQD in favor of the USD to pull IQD off the streets. With little to no IQD on the streets, the relative wealth of the average Iraqi will remain about the same when the IQD revalues since they hold USD instead of IQD. There may be more steps taken to further increase the amount of IQD to obtain USD to further help the Iraqis dollarize. As a result, taking more IQD to obtain a USD is, to me, a very, very good sign. 2 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.