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“Misplaced Dollar Sign” by David Harkness – 11.22.22

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Entry Submitted by David Harkness at 2:28 AM ET on November 22, 2022

https://dinarchroniclesforum.com/forums/topic/misplaced-dollar-sign/

Its sad that the quote of the expected value of the Iraq Dinar is quoted as $4.18  or $11.90  country rate .

This is very misleading to the reader and creates big expectations of currency profits on exchange .

Look at the IMF quote in the attached link.

https://www.imf.org/external/np/fin/data/rms_rep.aspx

Kuwait Dinar  0.308c usd to 1 Dinar

Saudi Riyal  3.76 to 1 usd or inversion 0.266c usd .

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Iraq on Rv does not come close due to many factors including ratings .  

Fed Treasury as at 415pm Monday USA time have disclosed the following rates as at 18 November on back pages not public under Emerging Market Economies (EME) .

Iraq Dinar 0.1724 usd
Indonesian Rupiah 0.693 usd
Vietnam Dong 0.4470c as carring values to support the USD .

Iraq have completed the draft 2023 budget yesterday showing 130 trillion dinar income at usd 85.00 a barrel over next 12 months when Goldman Sachs predicts 100 usd a barrel.

The budget shows a 25% deficit.

To have a draft budget you must have a currency rate.

The current rate public is 1473 dinar to 1 USD on the 15 November set at 1441 under RV  14.48  Dinar to 1 usd .

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https://www.floatrates.com/chart/usd/iqd/

We will seer what emerges over the next 24 hours but please understand a $ before 4.81 is totally incorrect and misleading .

David Harkness

(All guest posts will also be on the main forum. If you wish to respond to this post, you may do so on the forum: https://dinarchroniclesforum.com/)

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