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Post by Ssmith Mon Feb 27, 2023 2:20 pm

Frank26 (KTFA)Article:
Association of Iraqi Banks: Dealing in the Chinese yuan may provide the possibility of reducing import costs

Quote:
the Central Bank will consider, after controlling the exchange rate of the dollar in the balance market, by linking the price of the dinar to the dollar immediately and not at fixed prices.”

THIS IS EXPLAINING & TALKING ABOUT THE INTERNATIONAL FLOAT OF THE IQD THAT IS ABOUT TO START.

[Iraq boots-on-the-ground report]

FIREFLY: They are telling us on TV that the dinar is recovering and once again it will be strong.  This is their words to us…that it will be strong and stable and they are saying our gas will burn off from our oil will be our energy source and GE is talking about the big deal that they just signed here.

FRANK: The monetary reform cannot exist without electricity.   You can’t get the information to the citizens, you can’t do the transfers, you can’t do anything…

They’re telling us they’re going to float the Iraqi dinar.  Right now it’s an internal float. 1750 to 1700 to 1550.  What is it right now – 1300?  We’re looking for maybe 1190?  1000?  It’s going in the right direction.  They’re telling you the rate.  They told you they were doing an internal float.  They told you they’re going to do an external float at least 1 to 1 with the American dollar.  That’s when you’re going to exchange your currency aren’t you?
Ssmith
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