Thursday, August 22, 2024

IRAQ IS WEIGHING CHANGE THE OFFICIAL RATE OF THE IQD TO $1.32 USD BY GOLDILOCKS, 22 AUGUST

 GOLDILOCKS

"The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity."


This decision is currently shrouded in political conflict, this is seen as a move to gain popularity by many in the region of Iraq. 


Although this is going to be a reality due to many of the changes in their monetary policies, there are those who still do not want any changes to Iraq's currency. 


The important thing to note in this article is that a rate is being considered. It is also needed due to more countries getting involved in their economy that will require them to raise their current Dinar rate to level the playing field in trade. 


If you look closer at the numbers written into this article, you will notice that the first move on the Dinar would be to drop the three zeros. It makes things very clear what they mean by such a change in their rate. 


Meanwhile, Iraq has agreed to implement their economic reforms this year. They are working with the IMF in this process.


© Goldilocks 


https://www.jpost.com/middle-east/article-791161

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