SG ANON
According to data taken from the government website of the Central Bank of Iraq (CBI), for the first time since the US invasion of 2003 the amount of monetary notes in circulation within the country is declining.
Remember that on Jan 1, 2024, CBI decreed all outside currencies within the country would be converted by exchanges to only the Dinar, removing the USD from the in-country exchange options for the first time since 2004.
The declining number of circulating notes seems to imply either that the Iraqi currency is undergoing a change in valuation as a result of the flood of USD-to-Dinar conversions (since the declining circulatory figure is not yet being produced by a massive explosion in international trade (outflow) and economic investments (in-flow)), or that the general public confidence in the Iraqi banking system has changed in a historic fashion over the last 3 or so years.
Both scenarios will lead Iraq to greater solvency on the world stage, and an inevitable increase in the country's currency valuation in international markets.
(Nothing in this post constitutes financial advice. SGAnon is not a financial advisor or licensed representative.)
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