Quote Originally Posted by breakeven View Post
Agree this is different, but the fundamentals of economics would still apply to its currency manipulation. There is no doubt that Iraq will be a powerhouse in the next decade or so, but until such time there will be a gradual appreciation of the dinar in line with its economic targets.
I agree about fundamentals of economics but this is just a program rate not the real value as stated by their ministers in such statements as return to normal rate etc. The fundamentals are Iraq is going to have the most Oil in the world (Once the entire country is explored) which is your supply and the world is going to continue to need more and more of it (demand) giving them a commodity worth loads of money to help back their currency (Which has not long been approved to do as per a article I believe Adster found) to go from the Program rate to the real value would have to be high enough to deal with speculation and also as has been seen in articles their desire to have the value equal that of surrounding countries. Again I'm no expert JMO