Saturday, December 30, 2023

"RV UPDATE" BY PIMPY, 30 DEC

 Pimpy 

 Article:  "Parliament is awaiting the 2024 budget schedules...preparing for major changes in numbers"  Remember I told you if they're going to make any kind of change to the exchange rate it would happen at the end of the year or before the beginning of this next year 2024.  The reason for that is businesses in Iraq have to prepare their budgets...based on what the government in Iraq does...The fact that they're saying they need to reconsider the total revenues and expenditures for the year make me wonder what it is they have up their sleeve.  There's no guarantees that's what's going to happen but if they are going to make a change to the exchange rate this would be the time to do it.

There's no float.  It's fixed 1320 for every dollar.  Once it ends up on Forex then you'll see a float.  Most likely it will be a managed float where if it starts to get crazy one way or the other then the government will intervene and control the rate...

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