Quote: “under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.”
As the CBI moves from the MCP [multiple currency practice] … the IQD will take it true position somewhere on this list of currency value … where, I do not know.
1 Egyptian Pound = $0.13
1 Jordanian Dinar = $1.41
1 Bahraini Dinar $2.65
1 Israeli Shekel = $0.26
1 Saudi Riyal = $0.27
1 United Arab Emirates Dirham = $0.27
1 Kuwaiti Dinar = $3.31
1 Iraqi Dinar $0.00085
Because of all of the discussion we are seeing about the auctions … IMO, we are about to see this final move away from the MCP.