Tuesday Afternoon Opinions @ 5:15 PM MDT - 5/23/2023

[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 

 

 

Dallasdude   I personally have said for months that I did not expect a rate that favored us with the passing of the budget, because they have said repeatedly for months that the official exchange rate will be in the 1300 range when budget is passed..their economy needs time to grow and over a period of time we hope gets in the 1 to 1 range or 1.50 to 1 whatever the case may be...this is not meant at all to be negative, because quite honestly I really love the progress this current Iraqi administration is making...

 

Frank26  Remember when they had the 50s before?  They got rid of them because they were worthless at the program rate. So they're going to bring them back again? They're useless. I think a 50 note would be about $0.03 cents with the program rate they have right now. Don't get over excited, 'Oh, the lower denoms are coming out now!'  I don't know when. But they are in the process of the monetary reform education showing the citizens this is what we're about to do...it's a slow gradual process. It's exciting is what it is..!

 

 

[ronscarpa]

Added @ 5:40 PM MDT:

 

Pimpy  I would like to see Iraq un-peg their dinar from the US dollar and peg to the same basket that the Arab Monetary Fund uses...22 or 23 nations are involved in this organization and they all trade using their own special dinar. That value is really high.  It's the SDR rate, which I think is 1.76 x 4. That's how they figure out what the value of their [basket] dinar is worth. 

 

[ronscarpa]

 

Special drawing rights

SDR

1,751,352