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Iraqis swap dollars for dinars as confidence and families flood back

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posted on Dec, 15 2007 @ 07:21 AM
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Iraqis swap dollars for dinars as confidence and families flood back


www.timesonline.co.uk

Armed with a plastic bag of cash, the Iraqi businessman walked into an estate agency in Baghdad to buy a new house with his savings.

The wads of money that Haider Azzawi handed over provided a striking symbol of the emerging Iraq: they were not US dollars, the currency used for big purchases since the 2003 invasion — the seller did not want them. He wanted local currency, so Mr Azzawi handed over 125 million Iraqi dinar (£51,000).

The exchange is explained partly by the weak dollar, but it also speaks of the renewed confidence in Iraq's future, fuelled by improved security and families who had fled the sectarian violence beginning to return.
(visit the link for the full news article)




posted on Dec, 15 2007 @ 07:21 AM
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This is great news for Iraq.

With their economy back on track, the government can start to take care of it's own people, the economy and the occupation can end. And, most importantly, the oil can be traded in their own currency.

www.timesonline.co.uk
(visit the link for the full news article)



posted on Dec, 15 2007 @ 09:44 AM
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Uh oh...

I'm sure that wasn't in the plan, expect the Feder.. terrorists to start heating things up soon.



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