WOTS TUE JUL 6 21 Karbala University discusses indicators of analysis in the foreign exchange market
These are the articles I discussed on My FX Buddies Podcast
Baghdad receives the overdue dues to the farmers of Kurdistan since 2014
link when is what I'd like to know
Sulaymaniyah Agriculture confirmed, on Tuesday, that the federal government has delivered the dues of the region's farmers from 2014 until the current year .
Deputy Director General of the Directorate Rizgar Hamad Khader said, "The operations of harvesting the wheat crop planted within two million acres began in the Kurdistan region in the middle of last May, while the federal government opened silos to market them on the 21st of last June ."
Khader added, "The scarcity of rain water contributed significantly to reducing the production rate by 50% compared to last year, in addition to its impact on the purity and quality of the crop," stressing "the continuation of marketing operations in all silos and stations of the ministries of trade and industry in the region ."
He pointed out that "the end of this month, we will be able to determine the quantities marketed in total for this year," stressing that "despite the decrease in production this year, the region has succeeded in achieving self-sufficiency in the crop, since large areas of it depend on irrigation and not rain ."
Khader revealed that “the federal government has handed over the financial dues to the farmers of the region in full for the previous years since” 2014 until the current year, and there are only small amounts left that will be delivered later.
The Minister of Finance announces his commitment to implement the budget in accordance with the programs and the mechanism for their implementation
no details for now just that headline
The Minister of Finance announces his commitment to implement the budget in accordance with the programs and the mechanism for their implementation
The Central Bank of Iraq and Visa collaborate to provide digital payment solutions among consumers
Visa, the leading company in the field of global digital payments, announced its cooperation with the Central Bank of Iraq to raise awareness and provide digital payments among consumers in Baghdad.
This is a major effort to help Iraqi society understand the nature of the global economy based on digital payments, and to address common concerns and misconceptions among consumers about the benefits of digital payments compared to paying with cash.
The marketing campaign organized by Visa and the Central Bank of Iraq came under the slogan "What are you waiting for?" With the aim of encouraging people to use digital payments. The campaign highlighted the tangible benefits of digital payments over cash, including safety, security and convenience, better spending tracking, and the global acceptance of digital payments at more than 70 million merchant sites when traveling abroad, or on e-commerce sites. Globalism.
in support of the marketing campaign organized by Visa and the Central Bank of Iraq; A local comedy group presented entertaining scenes about the additional benefits of using a Visa card, which helped to get people's attention.
On this occasion, Duha Abdul Karim Muhammad, Director-General of the Payments Department at the Central Bank of Iraq, said: “Digital payments offer a set of many benefits, especially their pivotal role in laying the foundation for new experiences and business models that are an integral part of achieving the vision of the State of Iraq during this stage. Next, to achieve a diversified digital economy and increase global competitiveness.At the Central Bank of Iraq, we are pleased to work with Visa, as efforts resulting from such public-private sector collaboration help accelerate the Government of Iraq’s priority to promote inclusive, sustainable and equitable economic growth for the country’s entrepreneurs companies, and societies.
Mario Macari, Country Manager, Lebanon and Iraq, Visa, commented: “Our mission at Visa is to enable individuals, businesses, and economies to thrive and support small businesses while keeping pace and adapting work in a rapidly evolving world, and thus is one of our top priorities. With a large number of Iraqis moving to digital commerce, it is critical that we support all relevant communities with the resources and resources needed to support their digital transformation. We are pleased to partner with the Central Bank of Iraq on this important initiative to support the adoption of digital payments in the country.”
Employees criticize banking services and the “salary localization” system: it does not meet the ambition
Employees said that the settlement of salaries did not bring any benefit to the employee who was receiving his full salary from his department, while the Parliamentary Legal Committee revealed many gaps in the work of the mechanisms of Iraqi banks, while retirees and employees complained about the delay in releasing their salaries for the month of last June.
Employees complain about the salary settlement system and the weakness of the services provided by banks, stressing that the services provided by banks do not meet the ambition after settlement and are limited to loans with high interest rates, in return for futile routine procedures.
At the end of 2016, the Council of Ministers decided to transfer the salary payment system to civil servants, including allocations and benefits, to an electronic system.
A group of employees complained to Alsumaria News, about the salary settlement system, stressing that “the burden has increased by transferring the process of receiving the salary from the department in which they work directly to banks, most of which do not have ATMs, and if there are some of them, they are published in certain places that may not be close to the workplace of the employees.
And they indicated that "most employees are anxiously awaiting the payment of their monthly salaries, and when they are launched, a crowding process occurs in banks or through ATMs, and we are in an epidemic crisis."
According to the employees, “the settlement of salaries did not bring any benefit to the employee who was receiving his entire salary from his department, as part of it is currently being deducted when receiving it or part of it is withdrawn from the bank or the ATM.”
They stressed that "the services provided by banks do not meet the ambition after settlement, as they are limited to loans with high interest rates, whether for housing or for the purchase of cars, in exchange for futile routine procedures that reach until bringing the sponsor, as we were waiting for salvation from these problems, but to no avail."
They noted that "some departments limited the settlement of salaries to a group of banks, and when this process was completed, we were surprised by better services in other banks by providing loans with lower interest and larger amounts, but the problem lies in transferring our destination to these banks with complicated procedures."
Cabinet Resolution No. 281 of 2017 stipulated the right of the employee to choose one of the banks approved by the Central Bank in the process of salary settlement to open a bank account in preparation for receiving his salary through the account electronically using a bank card.
Earlier, the head of the Iraqi Bankers Syndicate, Wahbi Al-Khaffaf, said that "the government aims, through the settlement of salaries, to withdraw the hoarded money of citizens, in order to increase the financial movement and reduce the value of inflation, but he stressed the need to enhance the education of citizens with banking."
He pointed to "the weakness of cooperation and coordination between private and government banks to solve the problems of settling salaries, as well as the existence of a problem with the loan mechanism, as the number of employees is large and banks cannot meet all their requirements, especially that their capital is limited to 250 billion dinars."
He noted that "the deployment of ATMs in the capital needs routine approvals from the Baghdad Municipality, in order to expand banking services provided to citizens and facilitate their access to money from the nearest possible location."
He explained that "the deployment of exchange machines is subject to the availability of security conditions in order to preserve them, because importing them costs exorbitant amounts of up to 40 thousand dollars."
Yesterday, retirees and employees complained about the delay in releasing their salaries for the month of June.
Today, Monday, a member of the Parliamentary Finance Committee, Abdul-Hadi Al-Saadawi, revealed the reasons for the delay in releasing the salaries of retirees and employees, while he suggested raising and releasing them today.
Al-Saadawi said in an interview with Alsumaria News, "There are some technical and administrative problems that caused the delay in raising the financial allocations for the salaries of retirees and employees, which led to a delay of several days," denying that "there are any economic problems or lack of cash that stand behind this delay."
He explained that "the problem is that the competent authorities seek not to repeat it in the coming months, and we expect that the assignments will be launched today."
In turn, the Parliamentary Legal Committee revealed many loopholes in the work of the mechanisms of Iraqi banks and other institutions such as border crossings, the Tax Department, the Companies Registrar and the Ministry of Trade, which led to great confusion in the integration of the mechanisms of the executive authority.
A member of the Legal Committee Hussein Al-Aqabi said, “There are essential observations in the work of Iraqi banks in general that were put for discussion to the governor of the Central Bank and the general managers of official banks,” noting that “there is no integration in the mechanisms of the executive authority due to the presence of major gaps in the work of banks, especially in the auction the currency".
He added that "there are other loopholes that exist in state agencies and institutions other than banks, such as border crossings, customs, the tax department, the companies' registrar and the Ministry of Commerce," noting that "these loopholes in these institutions have created great confusion in the work of the mechanisms of the executive authority, and there may be a corruption process." Big too.US forces shoot down armed drone near US embassy in Baghdad
US forces shot down an armed drone above their embassy in Baghdad on Monday night, Iraqi security officials said, hours after a rocket attack on a base housing US soldiers in the west of the country.
American defence systems fired rockets into the air in Baghdad, according to AFP reporters, with Iraqi security sources saying the salvos took out a drone that was laden with explosives.
Since the start of the year, 47 attacks have targeted US interests in the country, where 2,500 American troops are deployed as part of an international coalition to fight the jihadist Islamic State group.
Six of them involved these kinds of drones, a tactic that poses a headache for the coalition as the aircraft can evade air defences.
In April, a drone packed with explosives hit the coalition's Iraq headquarters in the military part of the airport in Arbil, the Iraqi Kurdish regional capital.
The next month, a drone packed with explosives hit the Ain Al-Asad airbase housing US troops
On June 9, three explosives-laden drones targeted Baghdad airport, where US soldiers are also deployed. One was intercepted by the Iraqi army.
In a sign that the United States is concerned about new drone attacks, it recently offered up to $3 million for information on attacks targeting its interests in Iraq.
Separately on Monday, three rockets targeted an Iraqi air base in the western desert that also housed US troops, the international anti-jihadist coalition said.
The attack targeted the base at Ain al-Assad without causing any casualties
Iraq and Egypt sign an agreement to establish joint industrial and economic cities
The Government Media Cell announced, on Monday, that Iraq and Egypt had concluded an agreement to establish joint industrial and economic cities.
The cell said in a statement received by Mawazine News, a copy of it, that "the Iraqi and Egyptian ministers of industry concluded a cooperation agreement to establish industrial and economic cities, and the textile, leather, tanning, veterinary medicines and agricultural pesticides industries."
She added, "This came during the visit of the Egyptian Minister of Trade and Industry, Mrs. Nevin Jameh, and her accompanying delegation to Iraq, and her holding a series of meetings and discussions with the Iraqi side, within the framework of implementing the decisions of the tripartite summit held in Baghdad last week."
She noted that "
Meanwhile, the Minister of Trade received his Egyptian counterpart and discussed with her ways to develop trade exchange between the two countries in a way that enhances industrial performance.
In another meeting between the Minister of Planning and the Egyptian Minister of Trade and Industry, the two sides agreed to prepare a tripartite cooperation document, in which the areas and axes available for joint cooperation were defined.
The Minister of Industry and his Egyptian counterpart also visited the fixed wing of the ministry's companies at the Baghdad International Fair to see the capabilities of public companies and their local products.
In addition, the Egyptian delegation visited a number of companies specialized in chemical industries, most notably the Al-Furat General Company of the Ministry of Industry and Minerals, to discuss the available cooperation and partnership opportunities.
Today, Monday, the Egyptian delegation will hold an expanded meeting with the Iraqi private sector to discuss opportunities for cooperation, partnership and investment between the private sector in the two countries in various industrial fields. It will also visit the Samarra Pharmaceutical Company and Diyala State Company to discuss mechanisms of joint cooperation in the pharmaceutical and electrical industries.
Karbala University discusses indicators of analysis in the foreign exchange market
link what a time to do this study!
The College of Administration and Economics at the University of Karbala discussed the master’s thesis tagged “The Effectiveness of Technical Analysis Indicators in Trading the Foreign Exchange Market (FX), which is an applied study on the exchange rate of the US dollar against the Iraqi dinar for the period 2010-2020.
The Director of University Information, Dr. Yahya Obaid Al-Taei, told Al-Sabah that "the message presented by the student Muhannad Rashid Sharqi Al-Majidi from the Department of Banking and Financial Sciences aimed at introducing the conceptual framework for indicators of technical analysis in the foreign exchange market."
He pointed out that {the researcher included some indicators of technical analysis to predict the exchange rates of foreign currencies in circulation, and how to know the ability of technical analysis indicators to predict currency prices, by studying the indicators and applying them to the exchange rate of the US dollar against the Iraqi dinar for the period 2010-2020, reaching results that indicate The presence of technical analysis indicators in the forex market, and speculation based on technical analysis indicators contribute to neutralizing the times of executing buy and sell orders. It also gives many signals, most notably warning traders of a trend reversal price..}.
And he indicated that {the researcher recommended that the trader who wants to maximize his returns and profits and rationalize his investment decisions in the forex market should use technical analysis after he has finished knowing the basics of trading in the currency market}.
dollar equation
A Katyusha rocket fell inside the Iraqi North Gas Company
Iraqi security sources reported today, Tuesday, that a Katyusha missile fell on the North Gas Company, west of the city of Kirkuk, 250 km north of Baghdad.
The sources said that the missile landed in an empty yard inside the North Gas Company complex in Kirkuk governorate, without causing any injuries or material losses.
In the past weeks, separate areas in Iraq witnessed the largest sabotage attacks carried out by groups affiliated with ISIS and other saboteurs, affecting facilities for the production and transmission of electrical energy in Iraq, which negatively affected the levels of equipping homes with electrical energy.
Mazhar Saleh calls for the (social market) for a diversified economic system and confirms the end of the fiscal deficit phase
Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, calls for the implementation of the "social market" strategy to provide a diversified economic system in its sources that turns .Iraq into a productive power, declaring that the country has passed the stage of deficit and the need for loans
Saleh told "The Obelisk" on Saturday, July 3, 2021 that the deficit, which was estimated at 29 trillion dinars, or about two billion dollars, in the current year's budget, which was built on the assumption that the price of a barrel of oil is $ 45 has become a thing of the past, and the budget Now you do not need to borrow in the current fiscal .year, because oil revenues have become more valuable than what was planned
He added that the cash revenues for the budget of the next six months, if they continue in this high form, what is allocated for borrowing will be only a theoretical case, with the exception of loans linked to international financing funds for the purposes of implementing some projects from which withdrawals are being made and do not in any . case exceed $3 billion
The Prime Minister's advisor called for the implementation of the "social market" strategy to provide a diversified .economic system that transforms Iraq into a productive force
Saleh told "The Obelisk" that the population curve in Iraq still indicates a high growth of no less than 2.6% annually, which is the highest in the world, pointing to the current high national income, which is sourced from oil, which constitutes a direct proportion of about 45% of the GDP, which has a percentage of An effect of more than .80% in the components of growth of that product
He added that this is through the impact of oil on the structure of government spending, whose revenues still constitute 93% of the total revenues of the general budget, adding: Despite this, the coexistence of two pension systems, one on the other, is a fragile and frightening relationship, and I mean that there are more than 8 Millions of Iraqis receive salaries, pensions, grants, or social benefits from the state, which means that the majority of the .Iraqi people receive income from oil revenues under the family support system
He pointed out that the system is based on the principle that "the recipients of government income in our country guarantee the livelihood of a family of five," which indicates that the majority of the population receives government income directly or indirectly, and this is a form of social solidarity, and it is still somewhat reassuring .until now. the present
He added that the country's population increase by one million people annually, and the continuation of employment at low annual levels, will cumulatively affect the risks of disruption of production joints and the increase in unemployment among the youth, which is currently approximately 23%, and in a young nation in .which young people constitute nearly 60% of the population
He resumed saying that regardless of the increasing problems of poverty due to the Corona pandemic, the closure of the global economy and the deterioration of oil prices in the past year, the system of salaries, government pensions and subsidies has formed a safety valve in maintaining the standard of living and facing social collapse .within the current Iraqi dependency base
He explained that despite this, there are two restrictions if the economy continues to depend on oil until 2050 without diversifying the sources of national income in it, the first: that the country’s population will double and may reach nearly 80 million people, and the second: the world’s progress towards the implementation of the Paris climate agreement by making emissions Carbon will reach zero in 2050, which means that the world will turn to .alternative, renewable energy and the global demand for oil will fall
And he indicated that keeping the situation as it is will lead to the fragility of the current support system itself or its thinning over time and the difficulty of extending it because the oil financial cover will not be sufficient theoretically and realistically to support 80 million people in light of the current government operation and the .disruption of the private sector
He noted that Iraq has only one strategy before it, which is to launch a social market system that is capable of developing the joints of the economy in manufacturing manufacturing, cash agriculture, tourism and service areas, and transforming Iraq into a diversified productive force, provided that oil revenues are directed between the years 2022-2032 to funds that finance private productive activity and provide A brave law for security and social .protection against forms of unemployment
And he concluded his speech by saying: Here, a prosperous economic system that is diversified in its sources will .be born, not dependent on single, depleted wealth
The Kuwaiti Generation Fund is the third largest sovereign fund in the world, and Iraqis are asking: Isn't it time to establish a ?national sovereign fund
link
The American "Bloomberg" agency indicated, on Saturday, July 3, 2021, that the Kuwait Investment Authority has become its third rank among the list of the largest sovereign wealth funds in the world ."? ?in terms of assets, at a time when Iraqis are wondering, "Is it time to establish an Iraqi sovereign fund
The Iraqi economy today is in dire need of a sovereign fund for development in order to encourage the financing of economic and social projects and to strengthen industrial policies to increase real production within the Iraqi .economy. This type of fund will bring a set of positive effects to the Iraqi economy
This means an increase in business and companies and an increase in job opportunities in a very large way, which contributes to the elimination of unemployment and at the same time causes a significant increase in the gross domestic product and introduces large imports to the governmental public sector and the capitalist private sector, and now is an appropriate time to establish a sovereign fund for Iraq Especially after the Iraqi government's intentions to reform and modernize the economy and maximize Iraq's financial resources, it would be appropriate .to put a plan to establish a sovereign fund in the reform white paper
On Tuesday, February 2, 2021, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced a government proposal to establish a sovereign wealth fund, "in which funds will be deposited, the deductions of ".which are equivalent to the ongoing compensation for the Kuwait war
The proposal of the Sovereign Wealth Fund, which was referred to by the Prime Minister’s advisor, Mustafa AlKazemi, is based on “depositing amounts equivalent to the Kuwait war compensation, after completing the payment of those compensations, which is to deduct 3% of the proceeds from each barrel of Iraqi crude oil that is .exported,” as Iraq paid 49.5 billion dollars for Kuwait over the past years
The economic expert, Abdul Rahman Al-Mashhadani, said that "the money that goes to the sovereign fund leads ".to the accumulation of great wealth in the fund, which can be invested in various fields, inside and outside Iraq
Al-Mashhadani warned against corruption and sectarian quotas and their impact on the fund's work in the future, and said: "If the fund's board of directors is established, it will be dominated by political quotas, which leads to ".making the fund a gateway to corruption
Al-Mashhadani pointed to Iraq's bad experience with the pension fund, saying that "what happened in the pension fund, which is one of the largest and oldest sovereign funds in the region, with a value of nearly 60 trillion dinars (about 50 billion dollars), and is now on the verge of bankruptcy due to mismanagement and corruption. prevalent .in the fund
Bloomberg quoted an informed source as saying that the value of the “Generation Fund” had risen to about $700 billion, revealing that “the value of the fund’s assets is estimated at $670 billion at the end of the fiscal year ”.ending in March 2021
The increase means that "the General Investment Authority, which also manages the General Reserve Fund, has accumulated more assets than the Abu Dhabi Investment Authority, whose assets are estimated by the Institute ".of Sovereign Wealth Funds at just over $649 billion
According to the Sovereign Wealth Funds Institute's ranking, "The Norwegian State Pension Fund is the largest sovereign wealth fund in the world with total assets of $1.3 trillion, followed by the China Investment Corporation, ".which manages $1 trillion
The gains that Kuwait achieved abroad contrast with its great financial challenges at home, which were .exacerbated by the dispute between members of the National Assembly, "Parliament" and the government
Bahrain Banks” signs a memorandum of understanding with their Iraqi counterparts
The Bahrain Association of Banks signed with the Association of Iraqi Private Banks a memorandum of understanding aimed at achieving fruitful cooperation between the two associations in the field of exchanging experiences and knowledge and strengthening banking cooperation in all fields.
This came during a recent remote meeting, according to a statement issued by the Iraqi Association and received by Shafak News Agency.
Al-Bayan added that the memorandum was signed on behalf of the Bahraini side by Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahraini Society, and on the Iraqi side, Wadih Nuri Al-Handal, Chairman of the Board of Directors of the Association of Iraqi Private Banks.
According to the statement, this memorandum comes from the message of the Bahrain Association of Banks and the Association of Iraqi Private Banks, and their tasks in defending the interests of banks and financial institutions and highlighting their role in sustainable development programs through close cooperation with regulatory authorities and all partners and stakeholders, as well as effective promotion of their effective contribution. in promoting and attracting investments.
The two parties also agreed, according to the statement, to form a joint committee to consult and agree on implementing and following-up joint plans and programs and setting implementation mechanisms.
The statement quoted Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahrain Association of Banks, as saying, “Bahrain has had a rich and diversified banking experience over the past five decades, which has greatly enhanced it in the model of its response to the repercussions of the Corona pandemic. We are working in the association to employ this rich experience in supporting and strengthening cooperation with Arab banks, at the forefront of which is the Association of Iraqi Banks, and Iraqi banks, with which we have strong brotherly relations and have broad prospects for diversifying and developing them during the next stage.”
On the other hand, the head of the Association of Iraqi Private Banks, Mr. Wadih Al-Handal, said, “The Association of Iraqi Private Banks has a long history in developing the banking sector, at various technical, administrative, advisory, human resources and other levels, and this memorandum will contribute to opening horizons with the Bahraini banking sector.”
He added, “This memorandum will enhance joint work between Iraqi and Bahraini banks, transfer experiences between the two parties, in addition to holding training courses at a high level.”
Al-Handal valued the role played by the Bahrain Association of Banks, and we affirm that the Association of Iraqi Private Banks is working with the Central Bank of Iraq and other parties to create a solid banking sector.
According to the statement, the two parties will work through the memorandum of understanding to exchange experiences, studies and related research, depending on the resources available to them. In addition to cooperation in organizing training programs related to the rehabilitation of banking cadres, according to the common interests and needs between the two parties, and in line with the current and future needs of the banking sector in Bahrain and Iraq, exchanging information, its sources and databases between the two parties, and coordinating at the level of executive departments and their committees in order to Exchange of experiences, information and joint research.
Below here is the daily WOTS the "Word on the Street" report :The exchange rates of the dollar in the local markets for Tuesday, (6 July 2021), according to the monitoring of specialists.
Baghdad - Stock Exchange of struggle الكف
147,100
....
Exchange rate (approximate)
146,500
147,500
—————————————————
Erbil - Bursa
147,125
——————————-
Basra - Bursa
147,150
——————————-
Sulaymaniyah - Bursa
147,200
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1459.0000 | 1464.0000 | 1457.1000 | 1457.1000 | 1457.1000 | 0.1000 | 06:09 |
| USD/VND |  22980.0000 | 23060.0000 | 22991.2600 | 22984.2800 | 22986.8500 | -0.7900 | 06:09 |
| USD/CNY | 6.4651 | 6.4671 | 6.4657 | 6.4579 | 6.4629 | 0.0023 | 08:59 |
| USD/KWD | 0.3006 | 0.3016 | 0.3010 | 0.3006 | 0.3008 | 0.0000 | 08:57 |
| GBP/USD |  1.3827 | 1.3830 | 1.3897 | 1.3823 | 1.3841 | -0.0013 | 09:07 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14487.0000 | 14490.0000 | 14508.0000 | 14445.0000 | 14475.0000 | 18.0000 | 09:07 |
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Iraqi Articles:
CBI Update: Just a note:
including $61,920,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
7-5-2021 Intel Guru RayRen98 The CBI and VISA have commercials to explain to the Iraqi citizens how to use the new digital currency system to make payments instead of cash, supposedly to make for a better global economy.
7-5-2021 Newshound Guru MilitiaMan Article: "Parliamentary Economy: Two steps will prevent the theft of about 4 billion dollars annually in Iraq" Quote: "among those proposals is the automation of outlets through a unified electronic system, as well as working to change the mechanisms used by the authority, because it facilitates the work of the corrupt and continues to steal public money." There you have the two steps needed to support the value of the currency. Imo The border revenues activated electronically with the mechanism (new exchange rate, new currency issued.) will do it. ...The key is about to unlock the door to internationalism! ...imo It is going to be a powerful week ahead! The signs are and have been heavenly lately...
7-5-2021 Intel Guru MarkZ [via PDK] ...They are really looking at Tuesday or Wednesday now. There are many, many people absolutely convinced this is it. It s overwhelming the amount of people looking at this week for it to happen. There is so much anticipation. We will be watching it this week and I know we are close...
7-5-2021 Newshound Guru Pimpy 2016 - half a decade ago. That's when they were originally going to make the rate change...You can't hand out the lower denominations at the current rate of exchange - why is that? They hold no value. None whatsoever. They'd be worthless. The only way you could start using these lower denomination is you do what? Yes, increase the value of the Iraqi dinar so that the lower denominations have value. They were about to do it and then the doo-doo hit the fan. We know ISIS came in there and ruined our plans. If they got close enough one time before I'm pretty sure they can get there again...
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