newgm, on 07 Mar 2013 - 16:09, said:
Here is a little math some might be looking for. When you see the value compared to the UDS.
1 USD = .293 IQD Will mean $3.41
1 USD = .292 IQD Will mean $3.42
1 USD = .2891 IQD Will mean $3.45
I stopped these at the second decimal point.
Please correct me if I'm wrong?
SteveI: Ray and I played with this yesterday and it is exactly as he told me. That is the number I am looking for on the CBI website. Thanks for sharing this for all to see.
Starshine: For simplicity: 1 USD divided by 3.48 = .2874 IQD
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sloan14, on 07 Mar 2013 - , said: I took this from Dinar Recaps. Don't know if this is the answer, but made me think:
“Mrs J C wrote on March 7th, 2013, 11:38 am:Ok so they approved the budget...what now? Will the rate come soonThanks Delta for the info! Have a great day!
JaxJags: The budget has two major parts to it....................one is the Operational, which involves the daily operations of the Federal Government. This is how the daily expenses are paid. The other major part to the budget is what the Iraqis have referred to as the Investment part. This is how and where Iraq will conduct international commerce. This is where the exchange rate of the IQD will be important.
...........at the current exchange rate of 1164 Iraq does NOT have enough IQD to pay its debts. Throw in their USD reserves and they still do not have enough USD either. In other words, for every $1 of debt, Iraq would need to use 1164 IQD to pay that debt...................however, if the exchange rate is changed to (lets say) to $4.00 then...............now follow this.........for every $1.00 of debt, Iraq would only use 0.25 IQD to pay that debt. By changing their exchange rate, Iraq will be able to pay their debts and leverage their currency with the rest of the world.
This is why Iraq would have the new exchange rate in the Investment part of this budge.
Now we wait for the CBI to show it to the world.”
SteveI: Excellent way to describe it. Best I have heard so far. Thank you for sharing,