Luigi1

here's another article related to the above...Parliament justifies excuses to delays in 2023 Budget until after a 30 day recess... MarkZ via PDK: ATRICLE: Articles in Iraq out today & excuses as to why they don’t have the 2023 budget done. But that they will tackle it the moment Parliament gets back from recess. A tidbit from an article is they are no longer in bankruptcy so they can absolutely RV now. Once again though the CBI does not need the budget in order to change the value.

Most Gurus directly connect the 2023 Budget to the RV & a rate. I don't always agree with MarkZ but on this one, he's absolutely right. I been saying all along...the Budget & the RV-RI are two separate identities.

here's another article related to the above...Kurdistan to increase economic cooperation with US... Tishwash: ARTICLE: A New Study To Help Strengthen The Private Sector In Iraq. The Ministry of Planning in the Kurdistan Regional Government of Iraq, in partnership with the United Nations Development Program & funded by the United States Agency for International Development (USAID), today launched a study on micro, small & medium enterprises in Iraq. The study provides an evidence base to guide policies & strategies aimed at creating sustainable livelihoods, including through MSME development. Funded by the United States Agency for International Development, the mixed survey covered formal & informal micro, small & medium enterprises in the governorates of the Kurdistan Region. The survey was initially conducted in Baghdad, Basra & Nineveh governorates. It has been designed to build a comprehensive analysis on MSME structures, trends, business dynamics, challenges & opportunities through up-to-date, reliable & relevant market information & analysis.

You nailed it.

here's another article related to the above...another banner month for the CBI...what must the CBI do next??? TNT via Tishwash: ARTICLE: International Monetary expects the Central Bank of Iraq reserves to rise to 100 billion dollars. The International Monetary Fund expected the Central Bank of Iraq’s foreign exchange reserves to rise to 100 billion US dollars in 2024.

Yup. F26 speaks from emotions or makes it up as he goes along. He will take a couple of facts & throw it into the whole mess to make it appear truth.

here's some articles from Dinarland... This is F26 so take it with a grain of salt. Treat as a rumor. Not verified. Your opine. FRANK26: ARTICLRE: This Is Very Important. The CBI said on Monday, ‘We have started the process of lowing gradually the exchange rate of the Iraqi dinar against the American dollar.’ You know what that is? Preparing to float. You know what that is also? …it’s a reinstatement process that allows them to reinstate their currency. Walkingstick via Frank26: ARTICLE: The CBI is having hot meetings with everyone, every three-letter agency you can think of along with every country. I have never seen meetings like these before. They’re extremely hot. Extremely volatile. Normally these meeting just go on to the next, to the next, to the next but every meeting is accomplishing something.

Yup. That's the way it works. Your foreign currency will be held in their central bank as foreign reserves. I was a DOD contractor in Iraq, Kuwait & Saudia Arabia. I worked with Raytheon providing logistics support to the US armed forces. Raytheon opened up a Bank of Kuwait commercial account. All employees were able to transact business under that account, including money transfers & currency exchanges. There was no need to open up individual accounts for every employee. I had multiple currencies from my travels & TDA all throughout the Middle East. There was a need to hold such currencies as individual landing fee were paid only in than nation's currency. All, yes all foreign currencies were converted into KD.

The good news...The IQD is on the move. The bad news...it's moving in the wrong direction. HELP.

Once again...people avoided the trip to Kuwait by simply opening up a Bank of Kuwait account at their nearest branch office & doing the rest electronically. Most of the people in Saudi Arabia at the time were Turks, Algerians, Jordans, Pakistanis & Egyptians working over there like I was. I missed out on the Kuwait RV. Others got wind of it & cashed in & made a small fortune. This is what I was told by the ones that cashed in. They did it in country & did not have to travel to Kuwait City. Just look for your nearest Bank of Kuwait or Warka branch office. They have branch officies all throughout major Middle east cities & EU cities.

May I also add... If you open up a Bank of Kuwait or Saudi bank account...your money will be 100% converted into KD or Riyals. Your funds will be transferred to your stateside bank in Riyals or KD. You will then pay a transaction fee to convert them into USD. So be aware of that. This is how the banks make their cut.

IQD RV strength will be based on the strength of the USD, UK Pound Sterling, Japan Yen & China Yuan, along with current gold, silver spot daily prices. This will give the IQD overall strength & stability in the long run. Also the IQD will not be affected by volatile oil pricing. IMHO.

Correct. No currency is totally pegged. Some nations may peg to the USD but it's usually temporary or used for political gain such as currency manipulation. All countries do this, including the US. Even pegged currencies fluctuate on a daily basis. That's how the big boys make their money.

You are absolutely correct. Keep in mind...foreign banks have different rules & regulations than US banks do. It's not that they are unsafe or unreliable banks. They do business differently than we do. Don't fall for the Gurus hypes.

FYI. Bank of Saudi Arabia & Kuwait do have branch banks in some major US cities if you feel uncomfortable opening an overseas bank account on the web. You can go to their bank sites & find out where the nearest branch offices are nearest to you.