Iraq’s currency is not at market rate it’s artificially kept down.
So they can’t go any lower than what it is at today, they simply can’t.
So what do they have to do if the price per barrel goes down?
They actually have to add value to make up for what it is they’re loosing…because their currency is so artificially low they are in the position to…be able to add value to their currency.
There is multiple things they can use their currency for as a hedge and they they have a huge advantage.
