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Wednesday, March 6, 2024

"RV UPDATE" BY SANDY INGRAM, 6 MARCH

SANDY INGRAM

10 weakest currencies in the world:  The value of a currency depends on supply and demand while some are pegged, meaning the currency is valued at an agreed rate.  The foreign exchange rate is an indicator of a country's economic wealth.  #10 The Iraqi dinar - inflation and political instability are the given reasons.  #9 Ugandan shilling (USH)... #8 Paraguayan Guarani (PYG)...land locked in South America #7 Guinean Franc (GNF)... #6 Uzbekistani Som (UZS) 1 USD = 12,501 UZS  #5 Indonesian Rupiah (IDR)  #4 Laotian Kip (LAK)...only land locked country in Southeast Asia.  #3 Sierra Leonean Leone (SLL).  #2 Vietnam Dong (VND) #1 Iranian Rial (IRR)

US Department of State Website Article: "Secretary Antony J. Blinken and Kurdistan Regional Government Prime Minister Masrour Barzani Before Their Meeting " 

 The Iraqi Kurdistan prime minister has not been in Iraq at all for several days, but in Washington DC, meeting with Secretary Blinken.  They are discussing what went down in the first quarter of this year in Iraq.
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-sandy-ingram-4-march.html
   US Department of State Website Article: "Secretary Antony J. Blinken and Kurdistan Regional Government Prime Minister Masrour Barzani Before Their Meeting"  The Iraqi Kurdistan prime minister has not been in Iraq at all for several days, but in Washington DC, meeting with Secretary Blinken.  They are discussing what went down in the first quarter of this year in Iraq

 Iraq and Turkey have an agreement where people and cargo can begin travel...up through Iraq...into Turkey and...into the Mediterranean Sea, which will allow...faster access to Europe.  This project is expected to increase Iraq's GDP, provide thousands and thousands of more jobs and kickstart Iraq's economy foundation outside of the oil industry. 

 The interest rate in Iraq averaged 6.17% from 2004 until 2024 reaching an all time high of  20% in December of 2007 and a record low of 4% in March of 2016.  6.17% is a high rate, yet they still are having trouble getting  the Iraqi people to put their money into the bank.  Iraq does have a bank deposit protection program similar to the US's FDIC. 

  [Dinar Guru NOTE:  For comparison the average US bank account  offers .47%.  You can find high yield savings accounts that offer  around 5%]  

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-sandy-ingram-2-march.html

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