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Thursday, May 25, 2017

DINAR IRAQ & DONG VIETNAM UPDATE, 25 MAY

It means in country they are trading with 1, 50, 100, 250 and 500 IQD notes or similar. Or they are using the 50, 250 and 500 IQD notes already listed as available on the Cbi.iq website in regular trade.
Either way, at 1162 Dinar for 1 USD, the 500 IQD note is about $.43. And the 1 IQD note is $.00086 and such lower notes aren’t even useable to trade (the CBI in fact withdrew from circulation the 50 IQD note on May 1st, 2015) http://cbi.iq/index.php?pid=Banknotes
So if it is confirmed they are using those lower notes in country to purchase and trade, the IQD must have revalued at at least 1 IQD = $.20 or so (meaning a 500 IQD note would be worth $100 USD, 100 UQD note worth $20 USD).
Of course we are looking for at least $3.86 USD per IQD or so and then their “fils” (coins) will then be useable.
But either way, for Iraqis to be trading with lower denoms (meaning they aren’t using the 1000, 5000, 10000, and 25000 notes other than for big items, than the RV has to be done.
They have not lopped or disallowed use of the three zero notes so we would be able to redeem our notes for big cash. The darn CBI just has to update the exchange rate, which the IMF would require them to do if the IQD is to be international.

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