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MarkZ   says -- I personally think we are right on top of it. I think it could be days... street rate will be about .47 cents and be allowed to float up DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

MarkZ says -- I personally think we are right on top of it. I think it could be days... street rate will be about .47 cents and be allowed to float up

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MarkZ   says -- I personally think we are right on top of it. I think it could be days... street rate will be about .47 cents and be allowed to float up Empty MarkZ says -- I personally think we are right on top of it. I think it could be days... street rate will be about .47 cents and be allowed to float up

Post by Ponee Fri Apr 02, 2021 9:12 pm

MarkZ   


  [anything new on the rate we will get for the dong?]  I have been told that the street rate will be about .47 cents and be allowed to float up…while the contract rate we should get will be in the low $2.25 range or so.


 The budget did pass….it was not a cruel jokewhat does that mean though?   What I am hearing from Iraq is YES they are changing values in country…they will float….I am hearing it will be similar to Kuwait. I hear it will be somewhere in the next 2 - 10 days or so before we see the manifestation of it...This is not unusual. In Kuwait it took 10 days from this point for it to reach the people on the outside of the country…we need to stay calm as we get through this final short bit.  Again once the process started in Kuwait it took them 10 days to release it to the world…I believe the process has started in Iraq. This is big news. There is nothing to worry about. Things are moving forward quickly.  I believe the lynchpin has been pulled at this point. I am expecting a huge weekend right now.



The budget was passed …a specific new rate was not given but there are a lot of key contracts that require larger rates and they did peg their oil in the budget at $44. This appears to have been the final hurdle as we move forward to allow Iraq currency to float and change. 



 There is a tremendous amount of anticipation over the next 7-10 days. Many bond people/redemption folks are looking squarely at Tuesday...I have been told by 2 different redemption center contacts that they are on call this weekend...  I was also told they are trying day to day  and they will fight to get this done...they are running out of places to kick the can and the can has gotten to big. I personally think we are right on top of it. I think it could be days...

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