President Trump Quote: “When we have a strong dollar…you don’t do any tourism. You can’t sell tractors… trucks…anything…Remember the battles I had with China and Japan…they always wanted a weak currency. They’re trying to get a weak currency now. It doesn’t sound good, but you make a hell of a lot more money with a weaker
dollar…than you do with a strong dollar.” Iraq and Vietnam…are thinking they can sell a lot more with a weaker currency. Now, 1310 IQD to 1 US dollar is maybe too weak to make a difference for Iraq. But keep in mind, when it’s time to adjust the value of the IQD, the Central Bank of Iraq will be making decision based on Iraq’s economy and what the US president just said…This is another reason [we] estimate a lower than average currency adjustment, RV or float or whatever it is they are going to do. It may be more, it may be less but I want you to be prepared to prepare yourself for the weaker currency concept Vietnam has so graciously shown us.
