fnbplanet

Does anyone ever wonder just how much IQD the Iranians are sitting on? I'm sure that if anybody in the CBI knows the DATE/RATE, that there's a spy from Iran who also knows. If WE know it's coming (soon), then Iran knows. This isn't a TV cartoon. Just because they're evil, doesn't mean they're stupid.

Jusssst my opinion, but with the customary delays that we've become accustomed to after all of these years, it seems that their accounting would be a awful lot easier to change the value of the currency at the year's half way point on July 1st. President's budget signing, finance committee check, gazette posting, "opening the budget - all offer opportunities to delay up to the end of the month, for timing's sake.

I'm not so sure that in currency-speak, that strength equals price. To me, strength would indicate the solidity of what backs a currency (gold, for instance, instead of potatoes), not it's amount in relation to other currencies. I use the word price, because value is a comparative term that leans to something being a good deal. Not so sure the USD is that great of a deal right now. Other thoughts on this welcomed.

Someone could sneakily (word of the day) post pictures of the new small notes. THAT would be WAYYYYY better.

BTW.....Can you imagine someone trying to walk into a car dealership in Iraq to buy in cash dinars? At 1310, they'd need a wheelbarrow or two!

Gonna cash in just enough to cancel all debt (not much) and buy some gold and silver as a hedge against a U.S. currency devaluation. I've recently been wondering if the USD might take a dive before or after the IQD rises. I'll cash enough to cover my rear and wait with the rest to see if it floats up like I think it will.

With a long enough of a time frame for redemption, at $.10 I'd cash some to pay debt, and periodically buy some precious metals as it floats up as a safeguard to any U.S. devaluation and inflation.

"Al-Askari no longer threatens the "dementia Biden" of the American president - as he used to describe him - or the "traitor" of the Iraqi prime minister who deals with Washington, which is the adjective that Al-Askari used to refer to Mustafa Al-Kazemi, the former prime minister. " "Dimentia Biden" ? Wow.

Indeed. Eventually, someone will wake up soon and realize that they're still screwed at 1300. Sort of like that scene in the play/movie where the orphan Olive says: "more gruel, please?" Iraqis will see rather quickly that this first bowl of gruel just isn't enough. Add the current inflation, and it won't take long. But the GOI bought a little time with this tidbit.

All IMO.... By dropping the IQD rate to 1300 (temporarily, we hope), they accomplish two huge things: 1. get the people to not overthrow the government soon. if they can slow down the protesting, it may buy them time to wrap up things that need to get done, like the budget, oil & gas, etc. 2. it puts the street money brokers in losing positions if they were buying their inventory at 1460 or more, hoping to sell at 1700. Putting at least some of them out of business helps to stop the bleeding for a while. If all that has to happen from here is to "drop the three zeroes", I for one can live with a rate of $1.30 as an initial new rate.

I agree with Hotcurl. The reduction of dollars flowing to Iraq and subsequently being smuggled to Iran and Syria is starting to take it's toll on their economies. The value of the toman is recently/coincidentally in the toilet as well. This should have been done YEARS ago. On the bright side, the fact that it is being done now may very well foreshadow our much anticipated boosts to the value of the IQD. Something is changing.

So, anyone else view this as the 2023 budget's "huckleberry"?

It would be a ding-dang shame if the lack of stolen dollars were to contribute to the unrest in Iran now, wouldn't it?

The people will lynch every member of government if they don't reverse this move quickly. They won't have to wait until June to vote them out. Politicians, by nature, frown on this. Therefore, I believe that this will be a short-lived adjustment to the value of the Dinar. Something, that will be big enough to make the citizens forget this move, will happen VERY shortly - before the public can gather up the torches and pitchforks.

It says "update" the dinar exchange rate. It doesn't say "increase" the rate. Not everyone on the planet is expecting a significant increase as we in dinarland are.