Entry Submitted by David Harkness at 6:56 AM ET on June 30, 2022
When people talk about the RV expected rates the Gurus forget about inversion rates.
For example the Gurus mention the expected rate for the Dong $2.30 this should be 2.30 Dong equals 1 USD or in fact you divide 1 into 2.30 equals 0.4484c USD .
Then they say for Iraq Dinar $6.00 to $11.00 again inversion is 6 to 11 Dinar to 1 USD or 0.16c to 0.0909c USD .
The truth is Fed Treasury prints a page that includes EME pricing means emerging market economies but no declaration of which countries to the public.
In actual fact I have an email from Treasury that their pricing includes Vietnam and Indonesia and from looking at their other pages available in the back office as at 24 May in EME it has 2.237 for Dong which is 0.44702c and Indonesian Rupiah 0.693c USD .
By further research the Iraq Dinar is 0.1333c USD .
As for Iraq Dinar it appears the base price is 10c usd for I Dinar and any increase above 90.00 usd a barrel adds to the price .
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So the Dinar will or should float up to at least 0.1270c usd given current oil price .
Also the declared public rate for Kuwait Dinar is usd 0.306c the Iraq Dinar cross rate is 43% less is 0.1306c usd this proves up the Treasury Rate at 24 June.
So we must be close to a public release of new currency rates for these currencies only .
We wait with extreme patience and so hope for all concerned in particular the people of these countries the RV is activated .
It’s not about value that’s fixed and floating behind the scenes as a booked value but when is the question is it Iraq Government .
Kind regards
David Harkness
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