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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 I_icon_minitimeYesterday at 1:12 pm by Dinarhater

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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 I_icon_minitimeThu Oct 19, 2023 11:43 pm by RamblerNash

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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 I_icon_minitimeSat Oct 14, 2023 9:25 am by Mission1st

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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 I_icon_minitimeFri Oct 13, 2023 11:20 pm by Mission1st

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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 I_icon_minitimeTue Oct 10, 2023 11:02 pm by RamblerNash

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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 I_icon_minitimeTue Oct 10, 2023 10:45 pm by RamblerNash

Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21

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Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21 Empty Guru Petra: "Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate" (They Have 2 Rates Now?) 5/14/21

Post by RamblerNash Fri May 14, 2021 11:58 pm

Guru Petra  

Remember, the dinar is still at a PR (sanctioned) rate.  Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate.  And because of that, they CANNOT use the IQD to purchase goods outside of their country.  The only 'mechanism' they have currently is to trade their dinars with the banks for USD to purchase medicines, computers, Pepsi, and other good that are not manufactured in Iraq.  So, they must continue to purchase using USD until they change their rate to an internationally recognized and accepted currency...the auctions serve two purposes:  it allows for import purchases...as well as drawn in more notes from the citizens.  Will this change after the RI...you bet! But for now, this is the necessary process in order to continue international trade to provide what Iraqi's need to live.  All IMO.

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