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Sunday, August 2, 2015

DINAR IRAQ & DONG VIETNAM UPDATE, 2 AUGUST

Dinar Iraq and Dong Vietnam :Quote: “The head of the minister for economic affairs adviser appearance of Mohammed Saleh, Wednesday, that the application of the decision tariff will not change schedule will apply on time.” PLANS SEEM TO BE GOING FORWARD ON TIME… [SO WHAT HAPPENS IF THERE ARE TAXES AND NO RATE CHANGE?] THE COST OF LIVING NEEDS TO RAISE IN COUNTRY FOR ELECTRIC ETC — BUT THE TARRIFF NEEDS TO IMPACT PRICING FOR COMPETITION TO BE SUCCESSFUL — IMO…GREAT QUESTION… [IF these tariff and taxes start tomorrow [Saturday] without a rate, that will hurt the Iraqi citizens cause they won’t have the money to pay for the items that they need with the taxes added to it?] I BELIEVE THEY ARE FOR EXPORTS ETC — NOT LOCAL PRODUCTS AT THIS POINT.
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IF Aug 2nd brings a verifiable international currency, does that mean the currency can only change in 2% increments? Or is Iraq able to go in and make a substantial change at any time?] NO 2% IS THE STANDARD OR THE NORM ON FOREX, IRAQ CAN DO WHAT EVER THEY WANT WHENEVER THEY WANT TO DO AFTER THEY GET THEIR CURRENCY TURNED ON.
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That CBI announcement also stated that they were marketing those bonds to “investors abroard.” …Abroard! and at an exact exchange rate of 1095 IQD. [Is 1095 an entrance rate to the world markets?] Possibly…but all we want is for the IQD to go outside of Iraq…become an exchange rate that other currencies can exchange with. [if they do enter at 1095, a float is inevitable IMO.] Not necessarily so. Remember, the CBI can not delete the three zeros from the current program rate of 1166…it needs an exchange rate. [can they just adjust it?] Yes, the CBI by law owns the cuurency….the GOI just uses it. The CBI can do whatever they feel is best for the currency. [didnt they say they wanted to be comparable to Kuwait’s rate?] Yes that is true…they still want to do that.

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