MarkZ

[via PDK]  In Iraq  “Traders complain about poor turnout despite Al Fitr”  This year at the end of Ramadan people are cutting back on spending their dinar…of course they are saying its because people are poor and rising costs…but I think there is something bigger than this going on. Especially based on news from the street. I spoke with a couple Iraqi contacts that are on the ground in the country and they are saying the exchange rate officially is about 1300…or one dollar buys 1300 dinar. But, on the street people are refusing to let it go for anything less than 1100-1000. Meaning the dinar is stronger than it is posted right now. The chatter is amazing on the streets over there…they are anticipating that big change and do not want to give up their dinar.