[via PDK] in Iraq: “A significant decline in currency auction sales to the Central bank of Iraq” Why is this one important? …It appears that the rate change is starting to work. What they are wanting to do is keep dinar in the hands of the citizens instead of US dollars. Then when there is a reinstatement the people will benefit from it. …over the weekend we did see some interesting things. There is a big difference between the official CBI rate and forex rate to the market rates in the region. Anywhere from 500 + dinars to $1 to the official 1300. The dollar purchases are down 62% as of today. I was looking for a more substantial rate change…lower than the 1300 before we see the big rate change…but maybe this will be enough for them before they do the big change.
