[IYO when those lower denoms hit the street, would a new rate already be established, or would that come a bit later? Or would it possibly come before they release the lower denoms?]
Excellent question…Let me ask you…if a 1 IQD coin has a value of $0.00086…why would it be put on the street today? It wouldn’t…Same with the other new notes/coins.
The Iraqis will not see them until well after the value of the IQD increases dramatically. IMO…I will be on the beach in St. Thomas by the time the LDs are fully in use.
Here is something that came out today:
“He pointed out that (the central bank next year will present another new currency worth 100 000 dinars and then followed the process of deleting the zeros currency in circulation is to be one dinar and 5 dinars and 10 dinars and 25 dinars and 100 dinars).”
What does this tell me? This tells us that members of the Finance Committee know that the CBI plans on issuing a 1 IQD coin/note. Why? But 1 IQD only has a value of $0.00086.
So why plan on putting something of such low value on the street? Why? Because, as the IMF has told us…Iraq will re-enter the global market by…When? Prior to the first half of 2016.
Keep this straight…the international value changes first…3 to 6 months later the price of goods inside Iraq begin to decrease…then the LDs start to be put on to the streets for use.
But we are gone/exchanged at the beginning…because we are concerned with the international exchange rate. The plans for LDs just tells us that Iraq will have a much greater value to the IQD. …we tend to get caught up in the currency…when that is germane to Iraq…all we are looking for is the IQD re-enter the markets.