Pimpy
You guys are still saying the LOP and the deletion of the zeros are two separate things. It's the same damn thing...LOP, the deletion or the zeros, the removing of the zeros, the reducing of the zeros are the same thing. It's called a re-denomination...When a country re-denominates the old currency is no longer any good...
Iraq is transforming in a very quick and powerful way is great news...
The fact they're able to accomplish all these projects and there are a lot of huge projects being accomplished somehow with an exchange rate of 1320...
There seems to still be some confusion about the official exchange rate versus the real effective exchange rate... comments like "When they get to the real effective exchange rate" or When they switch to the real effective exchange rate." Or "When they use the real effective exchange rate"...
This is confusing...what a real effective exchange rate is...An official exchange rate is at which country's currency can be exchanged for another country's' currency...Real Effective Exchange Rate is a broader measure that takes into account not just one bilateral exchange rate but a weighted average of a country's currency against the basket of it's major trading partners...Iraq already reports the effective exchange rate...It's already there...you don't have to wait for the real effective exchange rate to come popping up, it's already being used...
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