Article: “Central Iraq” supports the currency delete the “zeros” dinar”
Regarding those factors that affect the value of a currency, the biggest item was left out of that article: reserves.
Iraq has over 100% coverage of its currency in reserves, or nearly so, and this is head and shoulders above any other currency in the world.
It is because of this that Saleh could say, years ago, that the dinar would become a world reserve currency itself.
By making this statement he was clearly indicating that the dinar would be strong BECAUSE of its reserve position.
I will restate my position from the past, I believe that the strength of the dinar, on the one hand, and the fact that this is a unique opportunity, on the other hand, will cause the value of the dinar to rise rapidly, irrespective of Iraq’s current economic position and security situation.
The simple fact is that this will be a huge buying opportunity (similar to buying Google or Facebook) when it comes to the market, and, contrary to their statements today, most astute investors will see the potential and climb on board quickly.
Furthermore, once they see ANY significant rise in value more and more people will climb on, including those of us who have held dinar for years.
That is my two cents worth (about 200 dinars!).
