Pimpy
What's attractive about coming over to Iraq to do business is the fact that the currency is so cheap, that labor... production...and product cost are all cheap as well. Why do you suppose Nike gets their shoes made in China? Because...they pay $5/month and then bring the shoes over here to America and sell them for several hundred dollars. Do you see the huge profit margin. That's the same thing with Iraq. The currency is so cheap the companies would rather do business in Iraq ...because of the cheap labor...When they increase the exchange rate it's more costly for labor, products and production...Do you think they want this low exchange rate? Yes. And...they want it much lower. They don't give a shit.
Article: "Al-Kazemi's Advisor: The project to delete zeros from the currency is subject to two conditions" From the currency. Not the exchange rate. It says the currency. The currency is the same thing as a bank note. The 25,000 dinar the 10,000 dinar that's what they're talking about. When you read this don't mix the two up and assume when they say currency, they're talking about the value. They're not. They're talking about the bank note.
What they are talking about is a redenomination...Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate. So deletion of the zeros, otherwise know as a redenomination doesn't have anything to do with the exchange rate...
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