9-30-2012 SWFloridaGuy: Over the past few years we’ve all read statements that the IQD would be on par with the USD “In the coming days,” a number of times. However, this line in the statement tells me it’s not a rerun article at all.
“One important factor to the high exchange rate of the dollar against the dinar in the past summer months is the high demand and tight supply and exploitation of banking companies for citizens to raise the price of the dollar, prompting the central bank to increase supply in the currency auction.”
Now whether or not this claim is factually based and will actually transpire remains to be seen, but coming from Chief Economist Majid does give it a bit more tenability then just some anonymous random economist.
Couple this press release with the temporary oil and gas agreement (payments initiated today), Ban Ki Moon at least giving the appearance of being in Iraq’s corner regarding sanctions, Parliament voting on the Infrastructure law tomorrow and a possible National Meeting in the works and I’d say things are looking very promising. All we can do is let this play out and hope for the best.