Pimpy
My personal feeling is they are going to take the zeros off. Do I want Iraq to take the zeros off? No. I would hope they would leave it on and then revalue it with a higher exchange rate. That's what I'm hoping for.
Question: "Will the Vietnam Dong ever RV?"
They have been clearing up a lot of their corruption over there and they are on a huge sweep. It's IMO that they reason why it is where it is as far as value is concerned is because of these corrupt politicians. If you get rid of them, there's a good chance whoever is in office will allow the Vietnam dong to go up in value.
Question: "What do you think would be the ideal exchange rate for the dinar?"
You need something that's right in the middle...1 to 1 exchange rate would be right in that sweet spot. Enough to where they get more purchasing power on their imports but also still be competitive on the market with their exports. I would say 1 to 1 exchange rate would be the perfect location.
Some of the bigger points we see inside the Iraqi dinar community such as, ' Let them reinstate the exchange rate to $3.22 the old rate.' That's not the old rate. That's been a myth for a long time...The $3.22 rate was there but that was not the one they left when it became a devalued currency. It was something like $1.52. The other one [myth] is the hydrocarbon law that once it passes then the Iraq citizens are going to get payments. They're not going to get payments. Read the law, nowhere does it say they're going to get payments.
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-3-may_01981486514.html
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