Artcle: “Central was able to overcome the side effects of currency”
This is, without a doubt, one of the best articles we have seen in a long time.
It lays out quite specifically and clearly that the GOAL of the CBI is not just stabilizing the value of the dinar but raising it was well.
Furthermore, it specifically says that the fact that the GOI was sucking up so much currency to keep the government running will NOT stop them in their goal of raising the value of the dinar.
It clearly lays out the policy of the CBI to do more than just stabilize the currency: It specifically says that it will ”
maintain stability at the target in each stage or period of revaluation ranges.”
The last two words are extremely significant here, because they are saying that they will maintain stability AS THE VALUE RISES for the dinar.
Finally…it perfectly clear that they want to “raise the price to the desired level.” …I see this as a total commitment to “get the ball rolling” on the part of the CBI. They are clearly as frustrated as we are with the incessant delays and have decided to go on the “attack“.
Bottom line: I won’t be surprised to see the street value come up to the official rate and then surpass it before the end of the year. I also won’t be surprised to see the CBI begin the float once the street rate surpasses the official rate.
In other words, I think the CBI is ready to insist on freeing the dinar into the real world in the short term (or, as they say in Iraq, “in the coming days”).