Houston, We Have a Problem, Iraq Won’t Play Nice with Others

At the top of the news cycle this week is Iraq Refuses Any Possible Normalization with Israel. This news story is being uploaded all over the Internet. This is one of the reasons, people believe the currency will never revalue. However, keep reading, because Iraq’s actions are saying differently.

The Edu Matrix Channel in no way supports ignoring any specific group of people or country. The forex market only works when currencies from different countries are in play. We are speculative investors in exotic currencies. You can find the links to the original article in the channel’s description.

There is little doubt the Iraqi Dinar will increase in value against other world currencies. The question is, how or when will you be able to exchange the currency.

NOW. On the other side of the coin. The Central Bank of Iraq announced they are activating the self-management of foreign reserves. This is excellent news because countries use foreign currency reserves to keep a fixed rate value, maintain competitively priced exports, remain liquid in case of crisis, and provide confidence for investors. Thus, Iraq’s increase in foreign reserves since the devaluation in last December and now the announcement of self-management of foreign reserves all point to a country coming onto the global financial…