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Pimpy: "Now lopping the zeros off the exchange rate would be a huge benefit for us" 12/7/20 I_icon_minitimeMon Jan 15, 2024 5:43 pm by RamblerNash

Pimpy: "Now lopping the zeros off the exchange rate would be a huge benefit for us" 12/7/20

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Post by RamblerNash Mon Dec 07, 2020 10:41 pm

Pimpy  

...There is a lot of talk about the rate change.  This whole past week has been crazy.  Real crazy. Lots of articles about the rate and the rate change...and it's been back and forth.  We heard they want to lop the zeros off...devalue the dinars...I told you guys it makes no sense.  There's been lots of studies done that show that that's not a good move for Iraq because it effects the poor and devaluing your money is really bad when it comes to increasing the amount of debt.  Now lopping the zeros off the exchange rate would be a huge benefit for us.  There's been a lot of indications that that is the direction they plan on going to.  No, we don't know the date.  No, we don't know the rate...But they explained several times why they will not devalue the dinar...


Article: "Oil disturbs Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the numbers to "reduce the financial deficit!"  So here we go talking about the rate change again.  It's been mentioned all week long...they're not even hiding it anymore.  There is a lot of talk about the exchange rate...we know the rate change has to be discussed...It looks like they are going to make it part of the 2021 budget...yes, I'm excited like you are...
RamblerNash
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