Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

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 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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

Go down

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.
RamblerNash
RamblerNash
GURU HUNTER
GURU HUNTER

Posts : 22359
Join date : 2015-02-19

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum