Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Off-Topic Post, Non Stock Talk
»
The New Iraqi Dinar
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by tic_toc: [QB] [URL=http://www.usatoday.com/news/world/iraq/2004-03-28-iraq-economy_x.htm]http://www.usatoday.com/news/world/iraq/2004-03-28-iraq-economy_x.htm[/URL] • Spending power is up. Civil servants got huge pay raises after the coalition decided to correct Saddam-era parsimony. "Public-sector wages under Saddam were quite literally starvation wages," economist Block says. Thana Ismail, 40, has seen her monthly wages at the Ministry of Trade shoot up from 3,000 Iraqi dinars a month (barely $2 at today's exchange rates) to 300,000 (just over $200). This means she can finally afford to replace the wheezing washing machine she bought nearly two decades ago. She has her eye on a $185 jumbo Samsung model. reading the above article has me wondering how the economy can be brought back to pre war exchange rates. if she is now getting over 1/4 million dinars a month, does her wage drop as the economy is straightend out? obviously she will be able to buy more for less, but really how much do we expect the dinar to come back to pre war levels? they have 25,000 dinar notes ffs. at the moment that is something like a $20 note right? the people who orchestrated the issuing of the new currency cant be expecting a 1 dinar/1 usd ratio anytime soon. I mean can go to Turkey and become a millionaire with my beer money. Who's to say Iraq's currency isnt going to stay like this for the forseable future. [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2