Article: “Governor of the Central Bank: To cancel the dollar sale window, if canceled to become exchange rate 3 or 4 thousand and perhaps more??”
Quote: “On the prospects of floating, similar to other countries in the region, Keywords said that it is sealed now, and we are working on editing currency and not float, a large difference between the two.”
It is telling us the CBI is working on the replacement of the currency and bringing it out of the program rate as he says “editing” the currency.
The fact that he says this process is much different than what was done in other countries is the key here.
To me “editing” means to change.
When he mentions “float” he is talking to parliament and telling them the CBI is not going to float the program rate but will wait until the editing process is done…
So they can float but only when it goes international.
Quote: “He noted that the solution in Iraq is to reduce the demand for the dollar through the structure of the Iraqi economy is correct, and not through the sizes for the sale of the dollar.”
So here it is in BLACK and WHITE and it could not get any clearer – the strategy of the CBI is FIRST to reduce the demand for the dollar (thus raise the value of the dinar) and do it through a progressive and productive economy.
Thus the REFORMS…
But what will be the tipping point when they release the dinar to the world? This is the key here.
I believe it is once they get their private sector growing and allow investment capital to flow freely in and out of Iraq.