Walkingstick

[via Frank26]  When they say ‘the parallel rate’?  It means 1 to 1.  And now when Sudani says 1.5 to 1 what does it mean?  He is talking about the parallel exchange rate which is a market rate determined via supply and demand.  The currency value of the Iraqi dinar will run parallel with the official market exchange rate that they are establishing for the float.  That rate is determined by supply and demand…the CBI…They don’t want a parallel currency because that means they will use the USD in the market place…they are depolarizing.  The 1.5 is true.