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Delta saying Iraq can only have 1 currency
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Delta saying Iraq can only have 1 currency
by Ponee Wed Nov 20, 2013 2:40 pm
11-20-2013 Intel Guru Delta [via refinisher] On the CBI web site, the Arabic one (not English) the CBI has implemented a new policy that the banks in Iraq must be within 2% on all profit margins dealing with currency exchange. BASICALLY it means anyone selling their dollars to the bank for dinars would not get "fleeced"...why would they want to sell their dollars? because once Iraq gets put in to article 8 by the IMF, Iraq can only have 1 currency, (Dinar), article 8 means their currency is international!!! this new policy starts DEC 1st and JMO, after DEC 1st...Iraq feel free to raise the value if you like!!!
Last edited by Ponee on Wed Nov 20, 2013 6:09 pm; edited 1 time in total
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Re: Delta saying Iraq can only have 1 currency
by catman Wed Nov 20, 2013 4:01 pm
Hmmm, well maybe, but just because the cbi institutes this policy does not mean Iraq has entere IMF Article 8 and even then it does not mean they will RV. And if memory serves, there are several countries that use more than one currency.
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Re: Delta saying Iraq can only have 1 currency
by Guest Wed Nov 20, 2013 5:10 pm
This actually is a pretty good post by Delta who thankfully has gotten away from the daily calling of the RV & is concentrating on items needed to do. Thanks Delta !!:Happy Thanksgi
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Re: Delta saying Iraq can only have 1 currency
by Kevind53 Wed Nov 20, 2013 6:19 pm
Article 8 is a non-issue. All it says is that members will behave and conduct business according to certain standards. It has nothing to do with becoming a member or not. Iraq will become a full member of the IMF, (currently they are members with observer status only), when the committee working with them to develop their policies and procedures say they are ready and the member countries approve their ascension to full membership.
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Re: Delta saying Iraq can only have 1 currency
by Jayzze Wed Nov 20, 2013 9:23 pm
we need tony and okie to verify this
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