Mnt Goat
... I am not sure why, but this Kuwaiti dinar has been in the news so much lately...Remember Dr. Shabibi told us that when Iraq does get reinstated its nominal rate will be no more than around 25% higher than the Kuwaiti dinar. Remember this is when the Iraqi dinar finally settles down to its nominal after the onslaught by the market once reinstated for trading. Does this mean the Kuwaiti dinar could also revalue?
...quote – “the Kuwaiti dinar has maintained its position as the most expensive currency in the world for many years, and its exchange rate against the dollar is currently 1 to 3.25..." ...
Will the Iraqi dinar over run the long-standing Kuwaiti dinar in its position as the most expensive currency in the world? ...we can clearly now see something BIG is about to happen to these currencies.
Shafaq News Agency followed the data and tables issued by the Ministry of Finance in April for the January accounts of the current fiscal year, which showed that oil is still the main resource for Iraq’s general budget, reaching 89%, which indicates that the rentier economy is still the main basis of the country’s general budget...
the “rentier” economy is the oil economy of Iraqi. But...even with the “rentier” economy alone the Iraqi dinar can still maintain a realistic rate of at least $3 or more and this is not considering all the other assets and the 2/3 more oil Iraq is pumping and selling since 1991 when the dinar was just around $3
No comments:
Post a Comment