Mnt Goat
“In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level...”
Saleh... financial advisor to the Prime Minister...is telling us...the parallel market versus the official rate are under control and no longer an issue for stability. It also tells me they have their inflation problem under control. This is amazing because my CBI contact told me this one of a few other issues was the reason why the Project to Delete the Zeros was not kicking off...
I want to quote from the financial advisor to the Prime Minister, Mazhar Muhammad Saleh from one of the articles –
“The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued.” So, this is telling us that the foreign reserves can back the dinar now in circulation by 100%... This is amazing. What wealth. But the dinar is still at 1/6 of a penny?
No comments:
Post a Comment