Pimpy

  In Pimpy's Investment Chat 

Article: “On Monday, the Central Bank of Iraq’s hard currency sales increased by 26 percent” This is good. Where before they were holding U.S. dollars because the Iraqi dinar had devalued and so you know they don’t want to part with the US dollar. It’s a stronger currency against the dinar. This jacks up the foreign currency they [CBI] hold so the foreign currency assets are increasing. This is good because what that does then it strengthens the Iraqi dinar. We want to see this happen…this is a good thing to see happen.