Pimpy
They have to do something about that parallel market. The reason why it's so successful is because people prefer to get the US dollars if they can. If businesses and travelers want to get more bang for their buck, they don't have a problem with selling the US dollars for more Iraqi dinars, more than the official exchange rate. It puts Iraq in a pickle...Do they raise the rate of the Iraqi dinar or do they lower it?
Article: "The parallel market will be overturned. Sources: Upcoming decisions from he central bank that will confuse the markets and raise exchange rate."It's interesting they don't say which exchange rate...
Quote: "He stated the decisions are likely to raise the dollar exchange rate in the parallel market..." When they say raise the dollar exchange rate, that's not good for us. That means the dollar is rising up against the dinar...On the black market people are getting 1505 dinars for every $1.00... which is much higher than the 1320 for every dollar, the official exchange rate...It's getting out of whack again. As it gets harder and harder to get the US dollar, you're going to see the black market really start to increase. I'm curious to see what kind of decisions the central bank is going to make...
No comments:
Post a Comment