Pimpy

  In Pimpy's Investment Chat

Right now for 1 American dollar you can get 1190 Iraqi dinar…if that number [1190] increases that means the value of the dinar is going down.  That’s not good…if that number [1190] decreases that means the value of the dinar is rising against the U.S. dollar…we want to see that number decrease…a lot of people get this mixed up. Most of us have bought the Iraqi dinar at this rate – 1190 Iraqi dinar for 1 U.S. dollar. Any kind of decrease…is a monetary gain for us. That’s good. That’s what we want.

Article: “Concerning the currency and commodity prices…10 economic measures and “radical” financial changes that Iraq is expected to implement next year”. That’s 2021. It’s the International Monetary Fund. This is their reforms. They’re talking about decreasing the national rate…I say we need to slow down even though this is good news. We don’t know how much that rate is. Considering it is the IMF I’m always hesitant. Of course Any decrease is good. But [Hypothetically] if they went from giving us 1190 Iraqi dinars to all of a sudden giving us 1700 dinars sure all you guys would be be like Yay! But it’s not that big of a deal. It’s just a slight increase…there you have it. This is what they want to implement in 2021…talk of decreasing the rate is here…it looks good.