No reason for an RV

[mentalmagic]

I was looking at the exchange rates for several trading currencies on the market and many have valuations similar to that ofo the Dinar. All have much stronger economies and governments. Yet, they have not revalued their currencies. Why? Korea has a thriving economy, yet it has a currency the WAN that is similar in value to the Iraqi Dinar. 1000 WON to every $1 US Dollar. This compares very similar to the Dinar at 1170 DINAR to every $1 US Dollar. So if a financially strong Korea has found no need to revalue, then why should Iraq?

[Stamp]

You should compare the exchange rate with oil-exporting countries.

[rodyman27]

The exports that come out of Korea do not even close to compare to the amount of oil that Irag has. If they are going to make any money on selling that oil, it would be wise to revalue the dinar. That way as they buy their imports they can also get more bang for their buck.

[BamBam]

Or by saying, more Ding for the Dong!!! LOL!!!

[peejay67]

I was looking at the exchange rates for several trading currencies on the market and many have valuations similar to that ofo the Dinar. All have much stronger economies and governments. Yet, they have not revalued their currencies. Why? Korea has a thriving economy, yet it has a currency the WAN that is similar in value to the Iraqi Dinar. 1000 WON to every $1 US Dollar. This compares very similar to the Dinar at 1170 DINAR to every $1 US Dollar. So if a financially strong Korea has found no need to revalue, then why should Iraq?

If you were to research the economics and the international trade comparisons between the countries you are referring to you will realise that you cannot compare the Iraqi dinar to these other currencies for a huge number of reasons. It is in Iraqs interest to revalue the dinar both internally and internationally. Im not going to quote examples as it would take too long and has been referenced too many times on this forum

Edited December 27, 2010 by peejay67

[photochick]

Because they're in the top three rankings for oil and natural gas in the world -- and they're discovering new oil fields all the time. Korea can't come close to that. And... they're just re-entering the global market and are no longer forced to trade for food. They're money will have to be stronger to trade their natural resources.

[Lilalbertus]

The Korean Won will RV after the Unification, because a war at this point is unavoidable, plus with all the advance technology Korea has than can RV

[sammiePJ]

well if there is no reason for an rv ... then what are we doing here....lol... there are many reasons for the rv.... we just have to ride the wave... that's all...

[sogoddess]

Here we go again, bashing someone for asking a question.

[jcav]

Do a little research before posting there Newbie. Those other countries were not invaded by the US. There was a plan behind the invasion, which was to devalue their currency and steal their oil for pennies. You cannot compare Iraq to any other country when it comes to this situation. Sorry your first post was steamy, stinky poop.

[Geck]

WOW NEWBIE do some research before inserting foot in mouth.

Not many countries sit on top of one the LARGEST energy resources the entire planet has become dependent on.

Let alone this is your very first post.

Next time do some research and try to bring something possitive to the table.

Be optomistic after all if your in this speculation adventure also, there has to be some positive optomisum on your part RIGHT.

GO RV

Whoa up there, Brisco.

Mentalmagic may be a newbie and is probably feeling some honeymoon blues due to the crappy bile being sprouted by the "gurus". We should be supporting the newbies with positive feedback.

Explain to him how petrodollars work, or explain how the product that Iraq supplies is inelastic in demand nature and is a requirement in all developed economies.

Explain that Iraq has now a "relatively" stable government under the watchful eyes of the larger economies.

Explain that South Korea still has issues with the fact that over 90% of it's GDP relies on secondary industries which have huge competitors.

Not knocking you, buddy. I'm in the boat with ya- 20million IQD worth.

But we were ALL "newbies" once. Let's help the new crew out.

We cool?

[VIZIOIRAQI]

I was looking at the exchange rates for several trading currencies on the market and many have valuations similar to that ofo the Dinar. All have much stronger economies and governments. Yet, they have not revalued their currencies. Why? Korea has a thriving economy, yet it has a currency the WAN that is similar in value to the Iraqi Dinar. 1000 WON to every $1 US Dollar. This compares very similar to the Dinar at 1170 DINAR to every $1 US Dollar. So if a financially strong Korea has found no need to revalue, then why should Iraq?

Just for starters Iraq wants to raise there Value back to the strength they use to have, and they also want to be the strongest in there region. Food for thought