CRYPTO TRADER: : it would be prudent for such a huge investment deal to be signed post the revaluation, 8 FEB

CRYPTO TRADER 

#IQD

As the article says it will be signed in the first half of February,what can possibly be the hold up.

Imagine of they were to bring in USD now and convert to IQD and it revalues they will be making huge loss on the forex conversion.

Say initially they bring whatever amount in USD at 1310 IQD/USD. If IQD were to revalue to even 0.76 they are going to take hit on conversion. 

If they were given indication that IQD will be revalued in the near future it would be prudent for such a huge investment deal to be signed post the revaluation.

I am not speculating on the date but this article is significant as Sudani stayed back 3 extra days to change the security status from red to orange and announced this deal. He must have given assurances for such a large private sector investment. I may be wrong but that's how I see it.

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crypto trader

@bnftrade

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Feb 4

#IQD "Sharing profits" .. British Petroleum prepares to invest $ 25 billion in Kirkuk. For context the investment is one fourth the size of Iraqi reserves.