[Iraq boots-on-the-ground report] OMAR:
TV guy talking about former CBI governor Dr. Shabibi, he said the dinar would go down incrementally before any major revaluation…It is entirely possible the Central Bank of Iraq will reduce the dinar’s exchange rate incrementally before they carry out a full revaluation. They have done it before, like in early 2023 when they nudged the rate down a little bit…It’s a way to keep everything stable and avoid sudden changes in the economy. Yes, incremental reductions are on the table before any big revaluation happens… FRANK: They self-confessed there’s a revaluation coming to your currency. I understand they’re trying to tell you they’re going to do it slowly but surely. But that’s a bunch of “whatever”.
