What I’ve always said is it makes more sense for Iraq to have a managed float which is effectively a fixed exchange rate…1 to 1 or 2 to 1, 3 to 1, 4 to 1 whatever they decide to do it makes it easier the higher that exchange rate is to defend…Having a…3 years budget keeps it stable…pricing stays stable. Anybody that says it’s going to float to from a relatively low range to a high range over time they don’t understand. Article quote: “The exchange rate will be fixed especially since it’s been fixed in the federal budget law for 3 years says Saleh...” This is coming from the advisor. Don’t talk about float. It just doesn’t make sense to anybody.
