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Laid Back

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Posts posted by Laid Back

  1. “A late step after the American emphasis on the dollar leaving Iraq, the currencies of Iran and Syria began to lose value further, due to their dependence on the dollar issued from Iraq.”

    “The return of stability to the exchange rate of the dollar requires "adherence to international controls to prevent money laundering and currency smuggling through fictitious invoices”


    Good move by the UST.

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  2. “The crisis of the rise in the dollar exchange rate is not related to the governor of the Central Bank, and his dismissal from office is not a solution to this crisis, and this exemption will not be a reason to reduce the dollar exchange rate in the local market, but this step may have serious negative consequences due to prejudice to the monetary authority." The rise in the dollar exchange rate is mainly caused by currency smuggling, and the dismissal of the Governor of the Central Bank, Mustafa Ghaleb is frightening, because the forces of the coordination framework target the bank's governors, for political purposes and reasons and not for any economic reason related to the rise in the dollar exchange rate.”


    “The decision to dismiss the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, was made by agreement between the leaders of the coordination framework and Prime Minister Muhammad Shia' al-Sudani, during their meeting, last night, at the home of the leader of the Al-Fateh Alliance." Hadi Al-Amiri.”


    In my opinion they changed CBI governor to benefit Iran.

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  3. “the expansion of the International Development Bank inside and outside the country is a pioneering step for the private banking sector in Iraq, and comes in line with the requirements of the next stage, which will witness wider openness to the world and requires that we have cooperated with international institutions and companies around the world.


    Go CBI 

    Go new monetary policy 

    Go openness to the world 

    Go stronger dinar

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  4. “The fluctuation of the dinar is linked to the start of Iraq’s compliance with some standards of the international transfer system (SWIFT), which Iraqi banks must apply since mid-November to access To Iraq's reserves of dollars in the United States”


    CBI continues moving towards an open market economy.


    International = Openness to the global economy 


    Go CBI

    Go new monetary policy 

    Go international 

    Go Stronger Dinar

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  5. TIR is the only global transit system. 

    It enables goods to be shipped from a country of origin, through transit countries, to a country of destination in sealed load compartments that are controlled by customs via a multilateral, mutually recognised system. It is the easiest, safest and most reliable way to move goods across multiple international borders, saving time and money for transport operators and customs authorities.

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  6. 1 hour ago, 3n1 said:


    Iran counterfeited boat loads of worthless iqd mainly the 10,000 K note and used the sympathetic corrupt iraqi banks to exchange them for USD for years who knows if its still taking place most of my iqd is in the 25K denomination maybe the cbi plan is to issue a 20K note to draw in the 25K notes like the cbi did with the 50 note i held some of the 50's they were worth about 4 cents to exchange im probably not thinking wisely but its gives me a gut punch none the less ... cheers

    I felt the same gut punch.
    20k note to replace the 25k note, If this happens. I hope we get and incentive for our 25k notes. 

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  7. “The issuance of the new denomination is a procedure to modify the structure of banknotes and introduce an intermediate denomination that facilitates daily transactions, reduce the presence of old versions of currency denominations in circulation, and adopt modern security specifications in designing the denomination.”



    Are they taking about the Lower denomination notes or the 20,000 note?


    Go LD

    Go stronger dinar

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  8.  "The index of foreign reserves to money supply in the broad sense is high and reached 81%, which is an indicator that enhances confidence in the Iraqi dinar as a store of value, as well as preserving the value of the national currency by ensuring the stability of the exchange rate as a nominal stabilizer of inflation."


    “There are other benefits that come from increasing the size of reserves at the Central Bank, including an indicator of the strength and flexibility of monetary policy, and reserves can also contribute to raising the indicators of Iraq's creditworthiness at international rating institutions."


    Go CBI 

    Go new monetary policy 

    Go Stronger dinar

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  9. - The CBI currency auctions has going down by around 50% 


    - CBI is letting other banks sale the dollar


    - The CBI governor meets a number of banks and exchange companies to

    talk about how to identify work priorities, directions that serve the Iraqi economy, the banking sector, and work requirements according to the mechanism of the platform that implements money transfers for the benefit of bank customers under it, and organizes the foreign trade sector fundamentally.

    - The Iraqi Central Bank has taken a series of measures that enhance monetary stability and push for the return of exchange rates to normal, including: allowing banks to participate in the window of buying and selling foreign currency to be used for external transfer, working to facilitate procedures for obtaining dollars through banks, facilitating the financing of private sector trade and meeting the demand for foreign transfers by strengthening banks' balances with their correspondents in other currencies.


    - Gold Reserves 130 tons 


    - Foreign currency reserves $100 billion dollars 


    In my opinion the CBI is on a clear path to an open market economy.


    Go CBI

    Go new monetary policy 

    Go Stronger Dinar





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