Entry Submitted by David Harkness at 2:28 AM ET on November 22, 2022
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.
Kuwait Dinar 0.308c usd to 1 Dinar
Saudi Riyal 3.76 to 1 usd or inversion 0.266c usd .
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 .
We will seer what emerges over the next 24 hours but please understand a $ before 4.81 is totally incorrect and misleading .
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