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BGG Says NO Float! 4/16/17
Posts : 1306
Join date : 2015-04-20
|Subject: BGG Says NO Float! 4/16/17 Sun Apr 16, 2017 12:18 pm|| |
4-16-2017 Newshound/Intel Guru BGG Article: "Central Bank Governor: no room to cancel the sale of the dollar window, if canceled, the exchange rate has become 3 or 4 thousand, and perhaps more" Article quote: "On the prospects of floating Aldenarabraghi, similar to other countries in the region, Keywords said that it is Matrouh sealed now, and we are working on editing currency and not float, a large difference between the two" that is a BIG ARTICLE...there won't be any FLOAT... (no float). PERIOD.
|Sam I Am|
Posts : 781
Join date : 2016-01-21
|Subject: Re: BGG Says NO Float! 4/16/17 Sun Apr 16, 2017 1:59 pm|| |
I agree that the dinar's value won't float on the forex, but this article has nothing to do with the official value. They're referring to the in country or "market" value. In the past they have been focused on reducing the gap between the market value and the official value by floating the market value upwards through the injection of US dollars into the economy, but now they're focusing on currency reform by replacing the IQD (via redenomination or "lop") rather than floating the IQD's value up.
Busting Gurus Since 2011
Posts : 37
Join date : 2017-04-15
|Subject: Correct/Redenomination Sun Apr 16, 2017 3:02 pm|| |
By deleting the zeros or any other method to make the dinar more manageable, there will be a redenomination, not a revaluation. It would not surprise me to see a new currency for in-country exchange only. While many gurus hang their hats on Bush's Executive Order, it is not clear that currency speculators out of country will be covered if and when Iraq ever revalues. It is very likely the paper that is held by out of country speculators will be worthless. At the appointed time, to exchange, one must be in Iraq and a citizen. Just my opinion.
Posts : 1039
Join date : 2015-08-13
|Subject: Re: BGG Says NO Float! 4/16/17 Sun Apr 16, 2017 5:51 pm|| |
No float, just redenomination. Nobody gets rich from a redenomination, nobody - not in the country, not outside the country. Nobody. There will be no RV. Math and economics prevent the concept of an RV. There has never been an RV. Never happened before, cannot happen now.
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