Frank26

  In FRANK26 

In case you missed it the CBI stopped the auctions…[Monday]. They can’t use the American dollar anymore…So what’s left to use? What’s left is the Iraqi dinar. But the Iraqi dinar has no value – not only for the citizens but also for the government to run its country especially with the budget at those astronomical numbers. The IMF knows this too.  And the World Bank knows this too. Both of them have said very clearly Iraq is in the process of raising the value of their currency…the stoppage of the auctions is a step of the monetary reform of the Iraqi dinar…it is a crucial step in adding value, lifting the 3 zeros from their exchange rate and it’s being done.