Egypt/Dinars
Finance & Banking
Demand increases on Iraqi dinars in Egypt with expectations of price rising
13 August 2008 (Iraq Directory)
Egyptian banking market is currently in a state of struggle to buy the Iraqi dinar by some individuals in the hope of achieving profits by increasing expectations of an official price within two years at most in the repetition of the scenario occurred with the beginning of the Iraqi political and security crisis , and the issuance of new Iraqi dinars following the execution of former Iraqi president Saddam Hussein, followed by the efforts of some people to buy Iraqi dinars to achieve substantial profits.
In this context, the parliamentarians addressed early warnings to the Egyptian government against what they branded the Iraqi dinar chaos in the market calling for the government, Dr. Mahmoud Mohieddin, the Minister of Investment and politically responsible for the banking market, the disclosure of the government's plan to cope with the expected chaos, which would cause heavy losses For individuals and exchange companies.
Especially since it was more likely, according to experts bankers, the Iraqi currency continues to deteriorate in light of indicators showing that the U.S. occupation will continue for yeas after Washington ruled out to withdraw its troops at the present time. The thousands of individuals have sought to collect the greatest possible of new Iraqi currency reached a price of 20 thousand Egyptian pounds for each one million Iraqi dinars, pending to the coming period if the price would rise in the banking market again.
www.iraqupdates.com
Originally Posted by cooperj
