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mike says The market rate is the unofficial value of the currency on the streets.
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mike says The market rate is the unofficial value of the currency on the streets.
mike
The market rate is the unofficial value of the currency on the streets.
Under normal conditions, Iraqi's would buy and sell dollars through the banks but in Iraq, access to dollars is limited. Right now, Iraqi's don't have unlimited access to the dollar so they're willing to pay more, or 1254-$1 just to get to it.
Today's market rate is 1254-$1 which exceeds the 2% MCP the IMF requires for a country to accept Article VIII.
If Iraq can get the market rate down to roughly 1205-$1, they'll need to hold this for a minimum of 90 days to demonstrate control of the dinar to the IMF.
4-3-2017
~~~~~~~~~~~
If Abadi can find a way to do the right thing for the Kurd's and Sunni's, we have a real chance at watching Iraq grow and flourish economically.
Abadi is going to gain a ton of political capital when he captures Mosul, with that he can make real change and begin the process of providing security and stability, two things that are the cornerstone of a healthy country, economy and currency.
4-1-2017
Last edited by Ponee on Tue Apr 04, 2017 6:12 pm; edited 1 time in total
Ponee- Admin
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Join date : 2011-08-09
Re: mike says The market rate is the unofficial value of the currency on the streets.
Well I know for a fact if you look at the countries in Asia, including Vietnam, they have there own currencies, but yet there almost worthless as Iraq's currency but yet they are all growing in leaps and bounds, especially Cambodia, but there currency is like the dong, not worth much, so here we have a clueless guru, that knows nothing about economics, just twisting everything to fit his agenda.
Chaz- VIP Member
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Join date : 2015-12-27
Ponee- Admin
- Posts : 38267
Join date : 2011-08-09
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