Enorrste says that The value of the dinar will just begin to rise, and the official rate will rise with it.
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Enorrste says that The value of the dinar will just begin to rise, and the official rate will rise with it.
by Ponee Wed Feb 25, 2015 10:42 am
Enorrste
Article: "Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customers" Can you imagine the reaction of a local Iraqi businessman when he goes to the bank to buy some dollars and is told that they don't have any? What else could he do except use dinars, right? Talk about turning the tables quickly! Sure, some will find ways to get dollars from other sources, but not nearly enough.
Eventually, and probably sooner rather than later, people will realize that they have to use their own currency. This will stabilize the market, at which point the CBI will be in position to allow the float.
As some have suggested, they may not even make a big thing about it. The value of the dinar will just begin to rise, and the official rate will rise with it. Of course at some point they will have to drop the fixed official rate
The foreign remittances issue means that dollars can still be had by locals, IF they can find foreigners who will accept the dinars in trade.
This is the crux: getting the dinar to be accepted as an international currency. It could be a jerky road, but I think that the CBI is convinced that there is sufficient backing of their currency to see this through. Hold on to your hats! The next few turns could be scary.
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Similar topics» Kaperoni: "...exchange rate regime from fixed to float will begin to allow the dinar to rise gradually"
» Enorrste thinks Once the float begins the rate will rise.
» Enorrste says that we should see the beginning of the rise in the value of the dinar later this year.
» Kaperoni -- IMO the float will begin at the current rate 1166 and rise.
» It is Enorrste's opinion that the dinar will rise quickly once it is released.
» Enorrste thinks Once the float begins the rate will rise.
» Enorrste says that we should see the beginning of the rise in the value of the dinar later this year.
» Kaperoni -- IMO the float will begin at the current rate 1166 and rise.
» It is Enorrste's opinion that the dinar will rise quickly once it is released.
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