CharlieOK: Cuteboy has placed an article in the forum that states “that the price of US dollar against Iraqi dinar will be fixed at the current price for the next four years.” This could not be further from what Tony has told us in the cc(s).
Yada: CharlieOK is once the dinar is RI, it will be fixed. But to RI, we are here to take advantage of the increase from the PR to the restored value. Not even the Iraqi people will see this much increase in country. Theirs’s is an increase in value and we are revaluing the dinar to dollars. Then all the rules for money management will kick in for them to control inflation.
CharlieOK: Yada: the part of the statement that bothers me is that it says the price will be fixed at the current price for the next four years. Fixed at the current price is not why we are here. Especially not 4 years. I get that there will be a change of value sometime. I am sure I am sure I am probably missing what you are saying
Yada: No, not at this rate of 1450. The White Papers have dictated what path they are going to follow. After the RI, yes
CharlieOK: Thanks Yada. I wish the author of the article had been way more clear (which is never the case with an Iraqi article). I am one who believes there is a limited RI that has already occurred in Iraq (for government and international companies transactions.)
Cutebwoy: CURRENT IRAQI DINAR PEG WILL CONTINUE FOR NEXT FOUR YEARS: OFFICIAL
SULAIMANI —Director of the Department of Financial Operations and Debt Management of Iraq’s Central Bank Mahmud Dagher said on Wednesday (March 24) that the price of US dollar against Iraqi dinar will be fixed at the current price for the next four years.
During an appearance in NRT’s Tawtwe interview program, Dagher said that the Council of Representatives does not have the authority to make changes in the price of US dollar.
$100 was at 144,750 Iraqi dinars as of Wednesday evening.
The devaluation of dinar, which was included in the federal government’s draft 2021 budget, was designed to preserve Iraq’s dollar reserves and allow the government to spend more Iraqi dinars.
The move however made imports and goods originally priced in other currencies, like hydrocarbons, more expensive.
On Sunday, Governor of the Central Bank of Iraq Mustafa Ghalib said that the devaluation of the Iraqi dinar this winter enhanced the country’s financial sustainability because the move increased country’s foreign currency reserves and strengthened its public finances.
Fuze: CUTE NEWS!!! This may be the big fake before the change…..