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Kaperoni: "When they reduced the exchange rate last December (about 20%) it now requires more dinar to purchase the same goods" (And Attracts Foreign Investment! LOL) 9/29/21
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Kaperoni: "When they reduced the exchange rate last December (about 20%) it now requires more dinar to purchase the same goods" (And Attracts Foreign Investment! LOL) 9/29/21
by RamblerNash Wed Sep 29, 2021 10:50 pm
Kaperoni
When they reduced the exchange rate last December (about 20%) it now requires more dinar to purchase the same goods. The CBI had to issue more currency into circulation to make up for it. The news stated the money supply has grown from about 42 trillion to 80 trillion...I do agree with some that before Iraq can even consider beginning to raise the value they need to convert to a digital economy. Doing so would allow them to remove the physical paper...would allow the central bank to control the money supply much easier as well as significantly reduce abuse or corruption...There has been several news articles in the recent weeks discussing this transition to digital format...
When they reduced the exchange rate last December (about 20%) it now requires more dinar to purchase the same goods. The CBI had to issue more currency into circulation to make up for it. The news stated the money supply has grown from about 42 trillion to 80 trillion...I do agree with some that before Iraq can even consider beginning to raise the value they need to convert to a digital economy. Doing so would allow them to remove the physical paper...would allow the central bank to control the money supply much easier as well as significantly reduce abuse or corruption...There has been several news articles in the recent weeks discussing this transition to digital format...
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