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Iraq calls for a review of the dinar exchange rate

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emmaduke


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REVIEW!!!! NOW!!!!! Thanks Rocky.

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Shredd

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The scope of this is to fix the problem of stopping the auctions. The likely goal is to bring the exchange rate back to 1166 and stabilize it. This whole issue does not give the impression the CBI has a firm grasp on moving forward with reforming the dinar. They were moving forward but have now tucked tail and are dollarizing to keep supply to where it needs to be.

The alternative we were hoping for is bringing strength to the dinar so the supply of the dinar became the demand instead of the dollar. This tells me the CBI is not yet ready to begin the gradual process of removing the large notes whilst bringing strength to the dinar. Security, stability, investment and banking reform need some more time to be in acceptable positions.

So we wait!


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