The IQD is being introduced to its basket members. These foreign currencies that are coming in through the contracts, some of them, if not most of them, will be playing the part in the float of the Middle East basket. Why is it that this basket is the next chapter in our study? Because the CBI auctions are ending on December the 31st of this year and there will be no restrictions on the Iraqi dinar on an international level as it was before …This is article VIII compliance which allows them to stop the auctions…Once the float increases the international value of the Iraqi dinar it will start to pair to these currencies in this basket and IMO it will quickly rise in value due to the demand that we are seeing right now.
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