What happened to ERM?

[warrengz]

There was tons of talk and speculation about the ERM supposedly taking effect this past Sunday January 31. Well haven't heard anything else about it. What happened!?

[markisuncfan]

welcome to the world of what happened. I was wondering too.

[Tiberius]

went into place sunday

[Goldminer]

Today there is no reason for the ERM to be active. Exchange Rate Mechanism is an agreement made by a country to keep the value within established boundries of other neighboring currencies.... i.e. within 2.75% of each other's value. With the Dinar at .000866 cents, there is no need for ERM. When the IQD revalues and discussion turns to joining the GCC, ERM will be of interest to the trading partners. Think of the Euro..... each country is bound by an ERM.

[Tiberius]

went into place sunday so this is a good sign

[2 bbs]

very good points

[msfun]

Thanks for the info

[JOHNJOHNNY]

YEA! What goldminer said.

[TrishC]

thanks Goldminer.

[warrengz]

Ok so you guys are saying it went into effect on Sunday so now the. 0008 value can only fluctuate 2.25% up or down, and THAT'S A GOOD THING? Im looking for educated opinions on why a law did not happen that is effecting the Iraqi economy. And I understand what u implied goldminer which is why I started this thread. So any other analysis?

[payday]

I have no idea....we get info and then the person that gave the intel disappears

[Muhammad]

Can Iraq revalue at 10 cents and then ERM is forced to set in by the authorized entity? What would happen next? Can an already revalued IQD be re-revalued higher in one year's or two years' time? Let us discuss about it with more common sense this time. No bashing, please!

[THOR]

I think you will find the ERM will apply to the RV value not the current value

JMO

[pat j dillon]

Thanks for the info

[tootygal]

Thanks so much for the info all....

[financeminister]

My analysis is that you have a very good looking woman on your right side. Way to go dude!!!!