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-- the Iraqi Dinar...

the Iraqi Dinar...

no, not the meal that comes after lunch, the Iraqi currency seems to be gaining value in the world market lately...

is this "voodoo economics" (whatever that is) or is there hope for Iraq's new currency, and its economy?

is this a sign that we might be on the right track to finaly encourage a democratic way of life in a country surmounted with the problems inherent in the middle east?

http://www.atimes.com/atimes/Middle_East/FA27Ak02.html

quote:

"In October, when they introduced the new dinar, it was 2,000 dinars to the dollar. And [the exchange rate] went down to almost 1,100 dinars to the dollar." But he says that top economists he spoke to in Baghdad expect the new currency to stabilize within a few weeks to a rate of about 1,500 to $1. That is because the jump in the new dinar's value is driven only by hopes of future gains, not by actual changes in the country's economy.

Re: the Iraqi Dinar...

quote:

Originally posted by jacheatamobits no, not the meal that comes after lunch, the Iraqi currency seems to be gaining value in the world market lately... is this "voodoo economics" (whatever that is) or is there hope for Iraq's new currency, and its economy? is this a sign that we might be on the right track to finaly encourage a democratic way of life in a country surmounted with the problems inherent in the middle east? http://www.atimes.com/atimes/Middle_East/FA27Ak02.html

Hehe voodoo economics ... currency rates have nothing to do with economic policy. It's simply the free market's perception of the value of Dinar taking into account all factors. Therefore, a high value implies that world markets hold a favorable opinion on the outcome of the Iraqi economy as a whole. It's not absolute certainty of course, but it's definetely a positive sign since people are putting their money where their mouth is.

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