Ok here is my take for better or worse:
As for as the ISX well I cannot answer but as for the low exchange rate well that's another issue.
Well I would have to conclude that someone forgot to inform to MOF of IRAQ on this ideology, since he publicly states the contrary [concernning the low exchange rate].
This notion is opposed to the IMF article IV tenets of fairness in exchange rates. Such a rate would destroy the economies of Iraq's neighbors and further fuel insurgent activity in the region.
Plus you cannot compare Vietnam to Iraq at all. Vietnam wants a weak currency for reasons as cited however an oil producer has not the same limitations. Iraq's commodity has no competition. Iraq is a 95% oil export economy. The world needs it and will pay the price whatever it is... this why all oil producers in the ME have expensive currencies [Saudi has a different monetary system than the other oil producers and Iran is a highly sanctioned economy]
All thousand fil monetary systems are over a $1.40 except for Iraq who is still under the program rate. As most already know this rate was established for the purpose of monitoring the current program in Iraq.
This is why announcement by the IMF of article IV discussions [end of April/ mid May] is so exciting since it mentioned the ending of the said Program. Ending the program also means ending the rate to monitor it. Very exciting.
I've said it before Iraq in the mid eighties $14.00/ barrel oil supported a currency of over $3.00. Even though today the amount of oil produced is a million barrels a day less than back then the price of oil is 2.5 times greater in real dollars therefore the monies gained is greater now than back then....oil in the ground and price per barrel have a lot to do with it. In fact the IMF has a listing of commodities on a form for supporting a currency that includes [gee who would have guessed it] OIL. Like I've said, interesting factual oddities...
Please visit our sponsors
Results 1 to 10 of 391
Thread: A possible RV Date!!!
Threaded View
-
08-06-2007, 05:26 PM #11
- Join Date
- Sep 2006
- Posts
- 613
- Feedback Score
- 0
- Thanks
- 409
- Thanked 805 Times in 40 Posts
It seems that the state insists, or preserve the value of the Iraqi dinar 148 against the dollar ...Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states [ MOF Sept 2006]
High RV is like Coke; it’s the real thing baby!
Jesus Loves You
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
24 Hour Gold
Advertising
- Over 20.000 UNIQUE Daily!
- Get Maximum Exposure For Your Site!
- Get QUALITY Converting Traffic!
- Advertise Here Today!
Out Of Billions Of Website's Online.
Members Are Online From.
- Get Maximum Exposure For Your Site!
- Get QUALITY Converting Traffic!
- Advertise Here Today!
Out Of Billions Of Website's Online.
Members Are Online From.