MarkZ
[via PDK]
“Parliamentary Finance: These are the reasons for the rise in the exchange rate of the dollar against the Iraqi dinar”
There have been fluctuations going on right now.
The Central Bank is saying “It’s not us” They have a pegged exchange rate and the inconsistencies are because of smugglers and unscrupulous business people in some unlicensed exchange offices.
The reality is that this is going to exist until the value of the dinar is the same or more than the rate of the US dollar. And they know it at the Central Bank.
They know this problem will instantly go away the moment they get a rate change...
I think the Central bank is letting us know how close they are to the REER. (Real Effective Exchange Rate)
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