The exchange rates of the dollar against the Iraqi dinar in the markets of Baghdad and Kurdistan rose again after witnessing fluctuations during the past days. …The Deputy Speaker of the Iraqi Parliament, Bashir Al-Haddad, denied, on Wednesday, what was circulated regarding the entry of the Iraqi government into negotiations with the International Monetary Fund to reduce the price of the Iraqi dinar against the US dollar or the secret printing of trillions of dinars by the CBI…The CBI and the Finance Committee asserted that these rumors are just untrue…I am still hearing that the CBI plans to delete the zeros but these rumors and lies is slowing down the process.
This speculation is essentially creating its own kind of FREE float using the program rate and not even on FOREX. This is dangerous and just the issues that economists and financial analysts warned us of. This is why the CBI cannot and will not put the dinar on a free float while on the program rate. …The bottom line is this – the CBI needs to pull the trigger and complete the project to delete the zeros, then move to reinstate the dinar back on the global markets…The plan is being carried out and they fully intend to move ahead with the dinar and its currency reform…It must be done and they know it…the CBI is trying to do it and they plan to do it. This is the good news.