Pimpy
The only reason why people are picking up dollars on the black market...is you can get a lot more Iraqi dinars than you could at the official exchange rate at the Central Bank of Iraq.
So if you're trying to make ends meet and you happen to get your hand on dollars because you got relatives over there in the United States making good money and they're sending some money back to you well of course you want your dinars to stretch.
You're going to get more dinars for your dollar...Iraq needs to increase their exchange rate so the desire to want to get rid of your dinars decreases and people start using the dinars and not needing a dollar so much...
It's definitely going to revalue. They're under sanctions, as soon as the sanctions are lifted and Iraq can get their crap together then definitely it'll be done...
If they remove the sanctions I'm curious to see if they're going to go up in increment or are they going to just reinstate the $3.22 rate. That's always a possibility...
Released from their sanctions that's what we're really waiting for. So even if we woke up in the morning and you found out the Iraqi dinar had been reinstated to
$3.22, Hallelujah, We're rich right?!?
Jumping around celebrating. But where are you going to redeem your dinar at if they are still under sanctions? Your options are going to be very limited here in
the United States. Chase Bank still deals with the Iraqi dinars but
not a lot of other companies or banks do just because of the
sanctions...Will they be released from their sanctions before the
revaluation or if they do an RI will they be released from their
sanctions?
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