Dinarland Highlights for April 24, 2022

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Dinarland Highlights – 4.24.22

MarkZ

[via PDK]

[What will the dong rate be?]

I was just told that I am wrong and the rate will be higher. I always believed it would be $2.25-$2.30…but several folks told me it may be over $3 or $4 now.  I hope they are correct.

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Clare (KTFA)

Article:
Minister of Finance: The financial situation is very good and an upcoming meeting with the International Monetary Fund and the World Bank is in Baghdad

GREAT ARTICLE!  …meetings with the International Monetary Fund and the World Bank are about to be held in Baghdad.

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Pimpy

Somebody is spreading … what you would call ‘nay-say’, doubt, stressing people out.  I see it all the time in the group, people just go, ‘Oh, man the Iraqi dinar is never going to change.  It’s never going to revalue.’…we know that’s not true.  December 2020 the Iraqi dinar revalued…it went in the wrong direction.  It lost value.  [But] That’s a revaluation.  Don’t let people tell you, ‘oh, it’s not going to revalue.’ Because it’s a lie…the Iraqi dinar will revalue.  It will.  So don’t listen to what all those people say…

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Kaperoni

It was stated back in 2013 in the IMF Article IV Consultation with Iraq they need to diversify their economy.  Doing so they then can float the dinar allowing it to gradually appreciate over time…Direct from the IMF in 2013…”staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect…”

When you search Wikipedia for an explanation of the Balassa-Samuelson effect, it implies that countries with rapidly expanding economies should tend to have a more rapidly appreciating exchange rate.  In other words, the appreciation of the Iraqi dinar is solely dependent on the growth of Iraq’s economy.  There is no RV, there are no shortcuts.

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Sandy Ingram

Iraq does not appear to be interested in revaluing their currency over and above the December 2020 rate…of course the IQD will revalue or float one day, however you should be aware that Iraq is moving forward without a revalue…

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Samson (KTFA)

Article:
Iraq exceeds the Arab countries in the growth rate .. IMF: GDP willreach 9.5%

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Walkingstick – Petra (KTFA)

Question:
“In your opinion how high can the rate go?”

No higher than the AAD…right now their goal is to move away from the USD…  What is the rate of the AAD right now 3.1 but it will fluctuate like all currencies daily.  Petra – The AAD is = to IMF SDR…which equals $1.36 x 3

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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