Pimpy

  In Pimpy's Investment Chat

Looks like the dinar rate is in review. Article: “The National Business Council calls for a review of the exchange rate based on the impact of the oil price decline”. I told you I seen some minutes between the IMF with the Central Bank of Iraq…the Government of Iraq wanted their exchange rate reinstated at $3.22…the IMF along with the Central Bank of Iraq was saying no that would be too big of a shock to the economy and they wanted something around $1.13 to $1.34.  The reason is they wanted a sweet spot. They wanted it to be high enough where they had more purchasing power but they wanted it low enough where they could be competitive against other countries importing and exporting…I thought that’s what the rate would be…nonetheless it looks like it’s going to be reviewed. This looks like what we were hoping for.