Question: “How does 1190 or even 1000 [rate for the dinar] give the people more purchasing power?” The Iraqi people lost 260 dinars [1190 to 1450] in the rate change compared to what it was before…21.8% of their purchasing power was lost…although to you, you’re like ‘This isn’t purchasing power! This is nothing!’ …If you’re living in Iraq and you’re trying to budget…and you’re not making that much, an increase of 21.8% would be a huge gain to you…the difference between the old rate to the new rate was a loss of 21.8% of their purchasing power. Bringing it back to the original 1190 would give them back 21.8% of their purchasing power. [Post 1 of 2….stay tuned]
