MarkZ
[via PDK]Question: What about the oil for dinar program…Is that still happening?
MarkZ Answer: I am told that is still happening. That is how we should get more than the street rate.
“Iraq to reopen embassy in Vietnam”
This is good news and showing their ties. Vietnam and Iraq are both major trading partners and of course we expect both currencies to revalue at the same time...Reopening embassies is important… If Iraq is going to be international player…they are going to need an “International Currency”…
There are a number of articles and comments that we are to expect some kind of announcement out of Iraq on Tuesday…on how they plan to handle the exchange rate. Perhaps this means they are still fighting the rate in the parallel market…or perhaps it is our full blown revaluation. But we are expecting some kind of announcement on the value of the Iraqi dinar to the US dollar.
“Iraqi Central Bank to restrict internal trades to Dinar”
From Bloomberg…. They are de-dollarizing. Payments in dinar only …they cannot do that and handle trades without the dinar having a more meaningful value and is international…also they are expected to formally announce this on October 4th.
There is a lot happening on Oct 4th. To me this means they need a new value by October 4th. I am hearing they really do expect that dinar rate change by Oct. 4th.
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