Saturday Lunchtime Opinions @ 1:11 PM CDT - 5/20/2023

[ronscarpa]

REMEMBER, no one really  knows what will happen, or when.  They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ...  RON 

5-20-2023   Newshound Guru Pimpy  People are trying to figure out whether the Iraqi dinar is floating, pegged, what are these terms, what does it mean? ..Iraq is a fixed (pegged) currency.  It's not a float.  It's not a dirty float.  It's not floating at all...It's 1320 dinar for every 1 US dollar.  They're pegged to the U.S. dollar...It's not floating in country.  It's not floating out of country.  There's no two exchange rates.  Let's go through what these are...[Post 1 of 2]

 

 Pimpy  A floating exchange rate is a type of exchange rate regime wherein a country's value is allowed to freely fluctuate according to the Foreign Exchange Market...Iraq is not allowed to play with the big boys - not yet...Until Forex recognizes Iraqi dinar...they're not going to be a floating exchange rate...a Pegged exchange rate system is a currency system in which governments try to maintain their currency value consistent against a specific currency...The Iraqi dinar is pegged to the US dollar.  So it's fixed...A dirty float is when...it will freely fluctuate but if it gets out of whack the government interferes...  [Post 2 of 2]

 

Frank26   The budget they say they will supposedly have it done by today, Saturday.  Now they're saying, well maybe the early part of next week. I don't care. I sincerely do not because the new exchange rate does not wait for anything. The budget waits for the new exchange rate. Why isn't the new exchange rate out?

 

yada   A lot of moving parts that are coordinated. The budget is to be voted on today [Saturday]. The rate release almost simultaneously, IMO. The debit and credit cards were shut down on Thursday for a couple of days, and many believe it was to readjust the rate with the CBI...

 

MarkZ  Article: “Iraq builds social security system to protect workers” They are building long term infrastructure. They are behaving as if they were 100% ready to go. The latest I am hearing in Iraq they expect the budget announcement on Sunday now.  I am still of the belief that it is done. .... They are negotiating each contract with contractors separately right now and rates are fluctuating. And just how do you know this Mark..? To me this means we are in a float. Because of what contractors are telling me – I know we are close... We have never, ever been this close before...My contacts in Iraq have a lot of expectations for this weekend. 

 

 

[Luigi1]

25 minutes ago, ronscarpa said:

5-20-2023   Newshound Guru Pimpy  Iraq is a fixed (pegged) currency.  It's not a float.  It's not a dirty float.  It's not floating at all...It's 1320 dinar for every 1 US dollar.  They're pegged to the U.S. dollar...It's not floating in country.  It's not floating out of country.  There's no two exchange rates.  Let's go through what these are...[Post 1 of 2]

 

 Pimpy  Iraq is not allowed to play with the big boys - not yet...Until Forex recognizes Iraqi dinar...they're not going to be a floating exchange rate...The Iraqi dinar is pegged to the US dollar.  So it's fixed...A dirty float is when...it will freely fluctuate but if it gets out of whack the government interferes...  [Post 2 of 2]

 

Pimpy's right on all counts.  There are no two different rates & the IQD is still pegged to the USD.

[new york kevin]

Besides the Pimpy stuff, the rest is the best old regurgitated speculation thats been around for the past 16 years, always around the budget passing time.