Iraqi Dinar RV Update
A lot of people are expecting an RV this week or even sometime this month in April.
The reasons certain people give are of all the news that has been coming out of Iraq such as the International compact, Foreign Investment Law enacted along with the rules and bylaws, the 12% gain on the exchange rate of the Iraqi Dinar (ID), the pending Iraq oil laws and many other stories that have been recently published in the media.
All the above mentioned certainly is positive and appears Iraq is going the right direction however, it is no where near in RV that everyone is talking about and expecting in the month of April. The International Compact (IC) that was signed last year will not be implemented because they along with everyone else is waiting on the Iraqi government to pass the Oil law. This is one of the benchmarks outlined in the IC before they would implement their program.
The 12% gain on the exchange rate was to control the 65% inflation rate and it remains to be seen if the Central Bank of Iraq (CBI) will find this as a success or not. It is very possible if the new measures from the CBI fail to control inflation you will possibly see the exchange rate decrease in value and head back to 1350 – 1400 ID in 2007.
Comments
Thank you for the up date from Amman. I PM'd you from iif, hoping to not loose you.
Please keep me informed.
Take care and be safe
dorrel
Posted by: Dorrel Brock | April 9, 2007 2:44 AM