Pimpy
Question: "Does this electric payment system have anything to do with the Iraqi dinar exchange rate?" Installing it is not going to make the exchange rate change but, what it does do is it will influence the exchange rate. There's a huge difference...How it does that is...if people all have an ATM card...then there's an increase in transactions...that will help influence the exchange rate. But just installing the payment system has nothing to do with the exchange rate...the exchange rate is not going to change because they put it in.
Question: "Can Iraq get into the World Trade Organization with the currency exchange rate of 1310 to 1 US dollar?" One of the key requirements for joining the WTO is establishing a convertible currency at a "realistic exchange rate"...the exchange rate of 1310 to 1 USD raises concerns about the convertibility and stability of Iraq's currency ...There is no specific threshold for what constitutes a "realistic" exchange rate...It has to be a stable currency which means...Iraq must have a stable economy...When 95% of your budget is totally relied on oil sales that is not a stable economy. Iraq is going to have to build their private and public sectors...Can Iraq go into the World Trade Organization with an exchange rate of 1310 dinar? Yes...if the dinar is stable.
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