Article Quote: Yesterday, the Deputy Governor of the bank made a promise that there will be more decisions coming out next week that could lead to a significant decrease in the dollar exchange rate. It’s unclear whether they are referring to an official or parallel market exchange rate. Some people have suggested that the quotes for the black market exchange rate were false, which suggests that corrupt individuals were taking advantage of other corrupt individuals. Regardless, there is anticipation for what will happen next week.
[via PDK] A question was asked regarding whether there will be an interim rate change in Iraq to between 1000 and 700 before the country drops the three zeroes and improves their exchange rate to better than 1:1. MarkZ’s response has changed in recent weeks – while he previously would have answered yes, he now believes they will skip that step, though he acknowledges that only time will tell.
Article: The Central Bank has announced that they will be issuing new decisions next week which could potentially result in a decrease in the exchange rate.
I had a fascinating discussion this week with my contact in Iraq from the CBI. They informed me to anticipate another “official” rate adjustment for the dinar from the current rate of 1320. The objective is to get as close as possible to a rate of 1000. I inquired about a precise number, but they were unable to provide me with a definite range. Nonetheless, they assured me that the measures to be implemented in the upcoming weeks would bring the dinar closer to this range. [post 1 of 2….stay tuned]