Article: “CENTRAL BANK WAS ABLE TO ACHIEVE HIGH STABILITY OF THE UPPER AND LOWER LIMITS TO THE DOLLAR, THE DINAR”
They are talking about the +- 2% upper and lower limits of the market rate vs the Central rate.
Quote: “THE OFFICIAL PRICE TARGET OF THE DOLLAR IS 1200 DINARS PER ONE DOLLAR AND THAT THE GAP IN THE EXCHANGE MARKET IN THE PRESENCE OF A FIXED PRICE ADOPTED BY THE CENTRAL BANK IS AVAILABLE IN MANY ECONOMIES, AN ACCEPTABLE CHANGE.”
This…is telling us the MCP % that is now occurring is acceptable… …they are nearing the 90 day mark of the monitoring period of the IMF for the MCP. Remember what the MCP is? The MCP is the gap in the exchange market rate to the fixed price adopted by the CBI and pegged to the dollar.
Folks this is amazing news and just what we wanted to hear and would expect at this time. Hold on to you seats they are about to launch the lower denomination categories.