Reluctance to buy and a decrease in sales ... the "dollar jump" did it financially to benefit and reaped the opposite payoff
- Author
- Tish Washington
- Published
- Thu 07 Jan 2021
- Episode Link
- https://podcasters.spotify.com/pod/show/tish-washington8/episodes/Reluctance-to-buy-and-a-decrease-in-sales-----the-dollar-jump-did-it-financially-to-benefit-and-reaped-the-opposite-payoff-eol583
You will have to go to blogsite posted below to see the full article.
Market Review: "Stock Market Rallies on Currency Devaluation"
this gives a nice little history of the dinar imo
For Iraq and its equity market the year ended the same way it began, with a bang that is much louder than its effect.
The official IQD exchange rate versus the USD was reset from 1,190 to the new USD rate of 1,460 on December 20th - or a de facto devaluation of 22.7%.
The IQD's parallel market's FX price increased throughout the year, from about 1,203 at the start of 2020, reflecting several factors. Starting with the momentous events at the beginning of the year that raised the spectre of a US-Iran proxy war fought in the country, followed by the full lockdown from mid-March and the rolling lockdowns that cut the working weeks to four days throughout the summer, and finally by the rumours of a devaluation as last reported on here in October .
By the end of November, the IQD parallel market FX rate was about 1,250 IQD to the USD and throughout December increased to about 1,300-1,350, just before the devaluation was made official. However, after initially increasing to about 1,470, trading at a premium to the official price, it began to decrease in the following days to about 1,390, trading at a discount to the official price, before rising higher than the official exchange rate as the month concluded.
