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Kaperoni says the float is part of the IMF reform program.
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Kaperoni says the float is part of the IMF reform program.
Kaperoni
Article: "Egypt: Inflation rose nearly 30 percent in January"
IMO, Egypt only has tourism... Iraq has wealth way beyond oil, gems, gold, etc. If timed correctly I do not see the dinar going anywhere but up.
The dinar is so grossly undervalued, even if they do not have fluid investment coming in, I believe the dinar still will rise substantially.
Article: "Egypt: Inflation rose nearly 30 percent in January" Quote: "The floatation was part of a package of reforms introduced to secure an IMF loan of $12 billion to overhaul the economy." I do expect Iraq to follow suit once ISIL is gone from Iraq.
The result will be different of course because Iraq has so much more to offer than Egypt.
The key here is the float is part of the IMF reform program.
2-14-2017
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Article: "Source for "tomorrow Press": Ministry of Transport decides to adopt Iraqi currency instead of foreign selling tickets" Quote: "The source pointed to "the impossibility of receiving the amount of ticket sales in Iraqi dinars on the basis of the US dollar because of the exchange rate variation in local markets."
A step towards convertibility! "Exchange rate variation" is referring to the spread. Or market price which has come down a bit in recent weeks (from 1300 to now about 1280). They appear apprehensive to sell tickets in dinar until the market price is stable in Iraq.
It has nothing to do with the CBI price of the dinar/dollar. But like I said, since they are talking about selling tickets in dinar, it is a good thing and a move towards what we all want which is international convertibility.
Keep in mind the airline states that their system is currently selling tickets based on dollars ($). Which makes sense.
Allowing some to begin to buy tickets in dinars is a good sign of what is to come.
2-9-2017
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