[Regarding the Article 8 requirement that a country must maintain no more than a 2% differential between the official rate and the market rate for 90 days before it can transition to Article 8…. Since Iraq finally was able to maintain that compliance for 90 days as Friday, June 15, and since Iraq does not appear to have been motivated to do that until now, do you agree this is a good indication that Iraq wants to move to Article 8 shortly, especially since they’ve been had trouble maintaining less than 2% previously?]
Compliance/entry into Article 8 does not magically influence the world to resume trading IQD in the same manner as we do other currencies you can find at any old exchange desk… all the way down to the mexican peso! Thinking about it this way can be a bit of a distraction, so I try not to put a ton of emphasis or importance on “Article 8”. The IQD will become “internationally recognized” once Iraq itself puts their faith into it – and that will be symbolized/shown with an RV. When the CBI changes the rate, nobody will care about Article 8.