Ministry of finance sets credit card (IRAQ - Dinar gaining on USD)

[ConcernedCanuk]

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Ministry of finance sets credit card

Finance Ministry has decided setting the Credit Card (C.C) system via the Trade Bank of Iraq within a week.

/snip/

On the other hand, the central bank of Iraq has accepted requests of selling US dollar with 1460 Iraqi dinars with the same price of the pre-election period.

It is worth mentioning that US dollar has deteriorated during the election days down to 1250 Iraqi dinars.




OK Financial wizards, this is NOT good(for the USD), right?

:shrug:

[Massacure]

1. Iraq will have to sell their oil for more money to make up the loss.

Good for Iraq and OPEC, bad for us.

[ConcernedCanuk]

2. Make up for the loss - not sure I understand -

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I mean, the Iraqi can buy MORE with it's Dinar now, no?

I'm not too good with this exchange - what's good/what's bad thing -

I barely grasp the concept/significance of the effect on tourism in Canada when the USD drops/rises -- :freak: