There has been an official change in the Iraqi dinar exchange rate. This change is counter to what you would expect Iraq to do. Iraq has been talking about strengthening…the Iraqi dinar…This policy decision hurts the citizens…Their purchasing power is even less…How is this positive economic change for them? It’s not right now. I do believe this is a somewhat brilliant move by the CBI to help pull in even more notes because if you are an Iraqi citizen..you don’t know if the central bank is now going to lower the exchange rate even more. So you want to ditch your notes and get the US dollar, which is counter to what you think you know the central bank and the Ministry of Finance would want. They want the citizens to start using dinars. They’re not going to use dinars if there’s no confidence in it. :Stephen [Post 1 of 2…stay tuned]
