8-27-2014 Newshound Guru Stryker

8-27-2014   Newshound Guru Stryker   Exchange Rate Update: The Market Rate of the Iraqi Dinar dropped to 1203 today from 1212 after dropping from 1217 on August 19th. This means that Iraq is heading closer to the 2% target rate the IMF says is needed for currency reform.  It looks like that with the daily auctions at and well over $2 million per day it will not take long to get to the target rate that the IMF has stated Iraq needs to be at to implement currency reform. Target rate needs to be within 2% of the de-facto CBI rate of 1166 and the market rate, and as you can see a 14 dinar drop just since August 19th is a great start.