Kaperoni
Article: "The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an important condition” As I have mentioned numerous times, a float is coming for the Iraqi dinar. The question is.. when will they have sufficient diversification of the economy to support such an event?
A country's currency is not some random act. An exchange rate is based on many factors including: reserves, GDP, economic growth etc. Iraq has a long ways to go and must pass laws to encourage investment. Only with the success of Iraq's economy can the dinar rise in value.
[aka Kaperoni]
Article: "Advisor to the Association of Banks: The Central Bank is following a consistent approach to achieving banking reform"
Quote: "the management of the Central Bank of Iraq plans to gradually cancel the window for selling foreign currency during the year 2024, until it leaves it completely." ...this is huge news... Iraq cannot end the auctions unless they have an alternative to the auctions... which means they plan to float the dinar by the end of the year...floating the dinar will give them a new mechanism to maintain the dinar, the CBI will buy and sell blocks of dinar like other central banks do to maintain their currency...
They will also have to use dinar to pay for goods and services which will make the dinar internationally traded...they want the banks and Iraq to establish relationships around the world with International standards and full compliance which means that means IMF Article XIV...This seems pretty clear and excellent news. We very well see that Iraqi dinar float on the global market at the end of this year or early next year...I think it's very promising...it definitely is very good news.
https://dinarevaluation.blogspot.com/2024/04/analysis-of-iraq-news-by-kaperoni-11.html
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