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Here's an article of Dinarian interests... The baseline value of the Dinar. Treat as a rumor. Not verified. Your opine. Ariel: The Baseline Value of the Dinar. ARTICLE: The news is just coming out at rapid rates. Speaking of rates. I need to reiterate something. If $3.22 in 1980 was equivalent to $12.34, that’s a 283% increase due to inflation 12 years ago when Dr. Shabibi first brought this up. If the ER reflects the cumulative inflation from 1980 to now, Iraq cannot simply restore their currency to pre-2003 levels without adjusting for inflation over those decades. The baseline value of the Dinar must reflect the erosion of the Dollar’s purchasing power over time, which suggest that a direct reinstatement at older rates would undervalue Iraq’s economic position. If $3.22 in 1980 is now $12.34, applying a similar inflation multiplier (around 3.8x) to the pre-2003 exchange rate of 1 IQD = $3.22 would place the new rate between $12 & $16 per IQD. However, geopolitical factors, resource control (oil) & economic growth could justify rates exceeding even $16 per IQD to reflect Iraq’s current reserves & output. Do you know what that means if you just have only 100,000 IQD? That is at least 1.6 million. People this is just basic economics. Not throwing some dream rates out there for a dopamine fix. Just something to think about. 🤩🎉😎🎉🤩😎🎉🤩😎🎉🤩😎🎉 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 The International Development Bank announced on Thursday: 🔥the introduction of the electronic payment mechanism for entertainment services.🔥 The bank’s management said in a statement received by the Iraqi News Agency… pic.twitter.com/pjsPRfwIOR — Majeed 🇸🇦KSA🇸🇦 (@majeed66224499) December 27, 2024. Governments generally honor old currency to maintain economic stability & trust. They would be shooting themselves in the foot.
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HUGE: CBI: The Implementation Of A New System Early Next Year.
Luigi1 posted a topic in Dinar Rumors
Here's some articles of Dinarian interests... DIRECT FROM THE SANDBOX: These articles Shout Out RV-RI at the beginning of the new year. -The Monetary Situation in Iraq is excellent. -The implementation of a news system early next year. -“We will launch a new method next year to expand & enhance these operations". Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: The Monetary Situation In Iraq Is Excellent. ARTICLE: Al-Alaq: The monetary situation in Iraq is excellent & our reserves support the stability of the ER. The Gov of the CBI, Ali Al-Alaq, confirmed today, Monday, that the monetary situation in Iraq is very excellent, noting that “the increase in the volume of reserves enables us to support the ER & achieve monetary stability.” Al-Alaq added in a press statement that the Central Bank is distinguished by its ability to “respond to providing the country’s needs for currency,” indicating that “foreign transfers for trade purposes are proceeding smoothly after the implementation of the new system.” Al-Alaq revealed that “the CBI will launch a new mechanism for travel or treatment transfers next year,” stressing that “there are agreements with four companies to launch a new mechanism for travel or treatment transfers.” CBI: Launching A New Mechanism For Travel Or Treatment Transfers Next Year. CBI Gov Ali Al-Alaq announced on Monday that the monetary situation in Iraq is very excellent, indicating that external transfers for trade purposes are proceeding smoothly after the implementation of the new system, early next year. “There are trends within the government aimed at diversifying and strengthening the national economy, as the banking sector does not flourish except when there is a diverse production base,” said Al-Alaq, on the sidelines of his participation in the opening of the activities of the Arab Sustainable Development Week Forum in its 5th edition, held in Cairo, Egypt – attended by the reporter of the Iraqi News Agency – INA. He noted, “Iraq suffers from heavy reliance on economic activity related to the oil sector, which contributes mainly to transferring oil resources to the trade sector. This constitutes a major imbalance in the structure of the economy. In other words, oil revenues are converted into building the economies of other countries through the large volume of imports. This requires the necessity of activating the banking sector to provide the necessary financing to establish real projects in the basic economic sectors, especially in the industrial & agricultural sectors, in addition to other sectors. I believe that this trend will contribute to reducing dependence on oil resources, in addition to providing job opportunities & real economic growth.” “The monetary situation in Iraq is currently very excellent. The high volume of foreign reserves enables CBI to support & defend the ER & achieve monetary stability, despite the difficult circumstances surrounding the countries of the region. CBI is working to find ways & means to meet all the needs of the country, citizens & the business sector for foreign currency,” added Al-Alaq. He pointed out, “Whenever the conditions & factors necessary for transfer operations or demand for foreign currency are available, CBI is ready to deal with this demand without any fears or concerns, which contributes to maintaining stability.” “CBI is currently distinguished from the rest of the countries in the region by its ability to respond to providing the country’s needs for foreign currency, whether for the public or private sectors or even the civil sector, to meet various types of requests for foreign currency,” he explained, noting “there is a historical transformation taking place in the framework of foreign transfers & meeting requests for the USD as there were many observations that necessitated changing the procedures & policies related to dealing with foreign currency & providing it.” Al-Alaq stated that “CBI has implemented a new system for foreign transfers to ensure their fluidity & transparency, despite the challenges & difficulties that faced the implementation of these procedures at the beginning, but we have overcome those obstacles. Today, the process of foreign transfers for commercial purposes is proceeding smoothly, which explains the general control over prices and inflation, as the CBI continues to provide the Dollar for trade at the official price.” “New methods have also been opened for transfers using other currencies, such as Turkey, India & China, in addition to European countries. This will make the process of foreign transfers more flexible & streamlined while ensuring transparency & oversight that enhances trust & credibility in the operations we carry out,” he noted. Regarding the provision of transfers for citizens for various purposes, such as travel, treatment or any legitimate transfers abroad, Al-Alaq confirmed, “We will launch a new method next year to expand & enhance these operations, just as we did for commercial transfers.” “There are agreements currently in place with relevant companies such as – Visa, Mastercard, MoneyGram, Western Union – to establish a new framework for implementing these operations, which will constitute another shift in controlling these operations,” said Al-Alaq, adding that “next year or the beginning of 2025 will witness the completion of the current procedures. We seek to provide reassurance, especially with some people’s questions about the fate of transfers after the completion of the electronic platform at the end of this year 2024.” He included “There is no sudden transition, but rather a gradual transition that began in 2024, where the banks’ relationship was transferred directly to correspondent banks without passing through other links & the process has been completed with continued success. More than 95% of this goal has been achieved & this process will be completed successfully within the next two weeks. There is international anticipation to celebrate this occasion.” -
Here's an article of Dinarian interests... RE-POST: The new ER will not be pegged to the USD. Treat as a rumor. Not verified. Your opine. Mnt Goat The New ER Will Not Be Pegged To The Dollar. ARTICLE: I had an interesting conversation with my CBI contact…Wednesday. We talked about the new peg for the Dinar. The new peg is established & will finally take the place for IQD peg instead the sole de facto peg to the USD. I was told we will shortly see news articles on this subject matter as they educate the citizens. Luigi's TWO cents worth... The new Dinar ER will be pegged to... gold-oil & a basket of global currencies to include... USD, Swiss Franc, EURO, Japan Yen, China Yuan (BRICS UNIT). IMHO.
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Here's some articles of Dinarian interests... Your New ER Is Coming. Treat as rumors. Not verified. Your opine. Texasstreeman “Thanksgiving, Christmas Again” ARTICLE: Well hello family. Good to see all of you & hear from you. Well as you can see the holidays are here again, but no money again. We hear about the QFS accounts! They are ready. Alliances how about giving us a wonderful Thanksgiving by allowing us release of our funds . There is a lot of us lost our homes. Lost our jobs. Lost our cars. Lost family members waiting, waiting for this to happen. Reward us this year with some funds. Since we have cover your butts over all the years telling people this is real. This is going to save the world. We are being called crazy to believe in this project. We can see the writing on the wall for another year, telling our kids, sorry no Christmas, again because we have lost everything believing in this to help the world. Alliances you can show us some grace by allowing us to go before Thanksgiving, or allowing our R&R funds in the QFS account. That will make our wife’s, kids happy. We could put a smile on their faces. Thank you alliances for listening our concern over another holiday. Frank26: Your New ER Is Coming. ARTICLE: High inflation, debt, terrorism, parliament, the auctions, they were the reasons for a program rate but not any longer...The 7.3% increase in Iraqi private banks is because of the success of the monetary reform education. Iraqi citizens are once again trusting your banks & that was very important for the security & stability of your new exchange rate that is coming to you. Walkingstick ARTICLE: Iraqi Bank manager friend Aki Update. AKI: I got the billboards in the banks but you know they're already in place. Everything is electrical. These are TV screens. They are already in place in our banks. I got them in my banks. Your question was about billboards in banks. No, we call those posters. They will have pictures and descriptions yes.
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Here's some articles of Dinarian interests... Treat as rumors. Not verified. Your opine. Economic Advisor: Mismanagement & Politics Negatively Affected The Value Of The Iraqi Dinar Against The Dollar. ARTICLE: Iraqi affairs researcher Qasim Balshan confirmed today, Sunday, that mismanagement & policy have negatively affected the value of the Iraqi Dinar against the Dollar. Balshan said in an interview with the Maalouma Agency that "the current political mismanagement has negatively affected the value of the Iraqi Dinar against the Dollar, making prices fluctuating & unstable in Iraq." He stated, "Until this moment, no person specialized in the field of currencies & banking has been chosen to manage the CBI well," pointing out that all those who are chosen follow certain political blocs. He added, "When the CBI puts the Dollar up for sale, we notice that citizens are far from the issue & the sale is limited to some companies & banks." He pointed out that "the Iraqi money that comes from selling oil does not go to the Iraqi government directly, but rather to the US Federal Bank, which is the one who deals with these matters." He continued: "The political disputes & crises the lack of good distribution of wealth & the lack of real investment are what led to the deterioration of the Iraqi Dinar against the Dollar." -Iraq Needs To Address Financing Problems. Economic circles explained that the reason for the decline in the expansion of projects inside Iraq lies in the financing for these projects, which represent the cornerstone for the development of the service & production economic sectors in the country & indicated that the paths to revitalizing financing require that we have elements that attract foreign capital to Iraq, which is an important labor market for many. Of int'l companies, especially after the development path began to appear on the horizon & its 1st steps began from the port of Al-Faw. Member Of The Businessmen Union Dr. Murtada Al-Khafaji told "Al-Sabah" Iraq needs capital that can be employed in Iraq & achieve a major benefit for Iraq & for the global partner who brings its capital & the advanced technology it possesses. Al-Khafaji added that the lack of funding represents an obstacle to developing economic performance, pointing out that Iraq’s need requires more than 200 billion to begin serious work on building development projects in all regions of Iraq & creating a work cell of great benefit to Iraq & the global market, especially since the reality of Iraq matters to many people. -Specialized Int'l Companies With Capital & Advanced Technology Are Aware Of Iraq's Weight On The Global Economy. In turn, member of the Baghdad Economic Forum, Jassem Al-Aradi, pointed out the inevitability of activating the real economic sectors that represent the focus of addressing the chronic economic problems in Iraq & which contribute to achieving a real multiplicity of financial revenues. He said: The economic reality in Iraq requires serious work to attract specialized investments to the Iraqi field of work, which requires the presence of solid companies capable of bringing technology & production lines that move the Iraqi economy to a new stage. He stressed that financing problems in Iraq are addressed through the local & international private sector, which has the executive capabilities & here we must work carefully & carefully to communicate with the targeted companies that can within the promising Iraqi market. It is noteworthy that economic experts have stressed on more than one occasion to overcome these limitations by providing funding sources & the importance of providing a specialized economic vision that is compatible with investment, which demands the availability of an investment environment that guarantees its rights, pointing out the necessity of benefiting from global openness towards Iraq & the presence of international delegations at their various governmental & informal levels. Especially those who expressed a desire to work inside -Parliamentary Finance Reveals A Move To Question The Gov Of The CBI: We Are Working To Change It. Member of the Parliamentary Finance Committee, Muhammad Nouri, revealed on Sunday a move within the committee and the House of Representatives to question the Gov of the CBI, Ali Al-Alaq, due to the lack of control over the stability of the Dollar price & the dominance of private banks over the currency selling window. Nouri told Shafaq News Agency, “There is a move within the Parliamentary Finance Committee & the House of Representatives to interrogate the Gov of the CBI, Ali Al-Alaq, because there are many files, most notably the bank’s lack of control over the stability of the Dollar ER in the market.” He pointed out that "the other reason that is considered one of the reasons for questioning the CBI Go is the dominance of some private banks owned by foreign nationalities over the window for buying & selling currency & foreign transfers." Nouri stated, “There are other works that we are doing through letters and official correspondence to change the governor of the CBI because he is over the legal age & continues in the position while he must be referred for retirement.” On Monday, August 19, a member of the Parliamentary Finance Committee, Mustafa Al-Karawi, revealed that a request had been submitted to the Presidency of the House of Representatives to set a date for questioning the Gov of the CBI regarding several files, most notably the ER of the Dollar against the local currency. Al-Karaawi Told Shafaq News Agency. “Members of the Parliamentary Finance Committee had previously submitted a request to the Speaker of the House of Representatives to interrogate the Gov of the CBI, Ali Al-Alaq.” He added, "The interrogation concerns several files, the most important of which are the dollar exchange rate & its sale to travelers, the currency buying & selling window, financial transfers abroad, monetary financing, American sanctions & negotiations with the American Federal Bank." It is noteworthy that, on August 19, the Supreme Judicial Council of Iraq supported the findings of the State Council regarding referring the Gov of the CBI, Ali Al-Alaq, to retirement after reaching the legal age. The Supreme Judicial Council said in an official document received by Shafaq News Agency, that the same subject was studied by the study committee at the presidency of the Judicial Supervision Authority & the same opinion was reached by the State Council in the two aforementioned decisions. The House of Representatives had sent a letter to the Supreme Judicial Council inquiring about the judiciary’s opinion regarding the permissibility of the bank governor continuing to serve after reaching the legal age for retirement. The State Council decided the official position on whether or not the Gov of the CBI, Ali Al-Alaq, should continue in his position, stressing that he has exceeded the legal age for retirement. The State Council decided the official position on whether or not the Gov of the CBI, Ali Al-Alaq, should continue in his position, stressing that he has exceeded the legal age for retirement. It was stated in correspondence between the State Council & Parliament, that in response to the House of Representatives’ clarification of the opinion from the State Council regarding the permissibility of the Gov of the CBI continuing to serve after reaching the legal age for retirement. He pointed out that the legislator has explicitly stipulated that referral to retirement upon reaching the legal age is an inevitable referral by law unless excluded by a special text & since there is no special text that excludes the Gov of the CBI from the provisions of the inevitable referral to retirement upon reaching the legal age. The State Council confirmed that the legal principle stipulates: “Heads of independent bodies are subject to the legal age for retirement.” -The Association Of Banks Is Considering Granting Privileges To Electronic Card Users. The advisor to the Association of Private Banks, Abdul Rahman Al-Sheikhli, revealed intentions to grant some privileges such as gifts or competitions & a reduction in payment fees {currencies} to encourage the acquisition of an electronic card. Al-Sheikhli said {to Al-Furat News} that: “The government program emphasized the necessity of economic and financial reform in the country & the measures taken in this regard are continuing,” stressing “the necessity of expanding banking awareness campaigns & making citizens aware of the importance of working with banks & circulating money through banking channels to ensure that it does not go abroad.” He added, "The country is witnessing a revolution in the field of banking technologies & electronic payment & all citizens are supposed to have a bank account that can be dealt with through a mobile phone or any other means." Al-Sheikhli explained, "Some citizens still prefer to deal with direct cash, but there are intentions to grant some privileges such as gifts or competitions & a reduction in payment fees (currencies) to encourage the acquisition of an electronic card."
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FROM IRAQI SOURCES: Economists Determine Reasons For The Rise In The Dollar In Iraq & Expect It To Exceed 160,000. ARTICLE: The “Future Iraq” Foundation for Economic Studies & Consultations, on Thursday, attributed the reasons for the rise in the price of the Dollar against the Dinar in Iraq to the decline in transfers of other currencies & the inability to cover the demand for foreign currency for the purpose of import, expecting the rise to continue, bringing the price of one Dollar to 1,600 Dinar in the coming period. The head of the institution, Manar Al-Obaidi, said in a statement received by Shafaq News Agency, that the prices of the Dollar against the Dinar during the past days reached the range of 1,550 Dinars per US Dollar. Al-Obaidi attributed the reason for the rise to the decline in transfers of other currencies, specifically the UAE Dirham & the Chinese Yuan, as a result of the large restrictions set by correspondent banks that are in the process of enhancing the balances of these currencies. in addition to the reservation of the banks under the Citi-Pilot project in opening accounts for operating companies & limiting them to working with companies. She had previously been treated differently than others. Among the reasons that the head of the institution spoke about is “the inability of all transfer mechanisms to cover the demand for external currency for the purpose of importing some goods, specifically mobile phones & gold, which are considered the highest value goods for import, which prompts importers to resort to the parallel market for the purpose of importing.” He added, “It is expected that the Dinar will continue to decline against the Dollar & it may reach rates of 1,600 Dinars per Dollar in the coming months if the problems are not addressed through practical solutions.” 1- Increasing the network of correspondent banks around the world, especially in the UAE & China. 2- Controlling financial policy by limiting the entry of some types of goods in order to reduce demand for them versus supply. 3- Pressure on the banks under the Citi-Pilot project to be more open to accepting a wide range of clients. 4- It may be necessary to temporarily prevent the import of some goods to reduce the demand for foreign currencies until more organized & smooth solutions are found for the external transfer process. Al-Obaidi said, “without adopting these solutions, the Dinar will continue to decline against the Dollar & may exceed the 1,600 barrier soon.” In turn, economic & financial expert Abdul Rahman Al-Mashhadani attributed the rise in the Dollar ER in Iraq to political rather than economic reasons. Al-Mashhadani said in a statement to Shafaq News Agency, “The Dollar has stabilized for a long period in the past few days at 149 to 150 thousand Iraqi Dinars for a $100 bill, especially after transferring the Dollars of real travelers to the airport, organizing the sales process in a smooth manner & resolving the crisis of bottlenecks on exchange companies & payment companies available inside.” “Airport" He added, “There are no economic reasons or justifications behind the rise because the CBI is still financing large amounts of foreign trade & this is the important element that covers the volume of orders for merchants.” The expert expected that “the rise in ER is due to the unrest witnessed in the region & the fear that Iraq is one of the stations that could be targeted, which prompted merchants to liquidate the accounts of debtors & creditors, especially those who have obligations to merchants abroad. Fear of instability may cause a rise & thus will be affected.” The merchant must pay what he owes. He noted that the 2nd matter “is the fear & panic that afflicts people in such crises. They turn to converting Dollars for fear that things will get worse & they will be forced to travel or emigrate, even if they are inside Iraq,” adding that “the Dollar is the safest means at hand because it is needed in “Markets.” The price of the Dollar rose in local markets to reach approximately 155 thousand Dinars compared to 100 Dollars after the events that the region witnessed, including military operations in Lebanon & Iran on the one hand and Israel on the other hand. Government Advisor: There Is No Concern About Iraq’s Financial Situation And Our Foreign Reserves Are Diverse. The Financial Advisor To The PM, Mazhar Muhammad Saleh, Reassured About The Country’s Financial & Economic Situation. Saleh told {Al-Furat News} agency: “We should not worry about the ongoing fluctuations, whether in monetary gold or the various foreign currencies that make up the country’s foreign reserve portfolio, which varies from major foreign currencies & monetary gold and in accordance with the international standard investment guides that it adopts.” The Monetary Authority Has High-Level Technical Cooperation With Multilateral International Financial Organizations, Specifically The IMF & The WB.”’ He stated, “Usually, the CBI hedges in managing its sovereign investment portfolio with a well-studied & highly sensitive diversification, with standard ratios & precise weights for each foreign currency, in addition to the cash gold from which the foreign reserves are composed. This is within the scope of what is called hedging against the risks of fluctuations in currency and gold ER, which is a policy that expresses efficiency.” Managing the country’s investment portfolio according to diversification in various foreign currencies & gold. Saleh explained, “A fall in the market value of gold, for example, must be offset by a rise in the value of the Dollar or other foreign currencies through managing the components of the foreign reserves portfolio itself, as diversification is an important pillar of the hedging policy in managing investments in foreign assets from currency ER fluctuations.” foreign currencies & gold by diversifying the country’s sovereign investment portfolio.” He pointed out that “the sovereign investment portfolio avoids what is called in the literature of the accounting policy of central banks (unrealized losses), by immediately realizing (unrealized profits), which are the same unrealized profits that correspond to the unrealized losses resulting from the fluctuation of gold or foreign exchange prices at the time.” same”. He pointed out that “a good diversification policy, in the assets or holdings of the investment portfolio, provides sufficient neutrality in preserving the total market value of the country’s foreign asset reserves & always stabilizing their value.” Banking Advisor: The Government Is Committed To Opening New Horizons For Partnership With Investors. The representative of the PM & his advisor for banking affairs, Saleh Mahood, affirmed the government’s commitment to supporting the Securities Commission & opening new horizons for partnership with investors, calling on the legislative authority to accelerate the issuance of the necessary legislation to meet the requirements of the modern market & enhance the investment environment in Iraq. Mahood said at the World Investor Day Conference – attended by the Iraqi News Agency (INA) correspondent: “It is a great honor to represent PM Muhammad Shiaa Al-Sudani in this event organized by the Securities Commission,” indicating that “this conference represents a vital platform for strengthening ties.” between the government & investors and highlights the investment opportunities available in Iraq.” He added, “The world lives today in an era characterized by rapid economic changes, which requires activating the role of the securities sector as a main tool for stimulating economic growth,” adding, “the Iraqi government headed by Muhammad Shiaa Al-Sudani is fully aware of the importance of this sector as a lever for growth and attracting local & international investments.””. He pointed out that “global experiences have proven that investments are not only an engine for growth, but rather a means of developing infrastructure, creating job opportunities & enhancing transparency & efficiency in resource management,” considering that “the Securities Commission is a vital partner in achieving these goals, as it works to regulate markets & enhancing their protection. Mahood emphasized “the importance of cooperation between the public & private sectors,” stressing that “the success of investments depends on investment partnerships that contribute to mitigating risks & increasing confidence.” He explained, “There is an urgent need to accelerate the issuance of the necessary legislation to modernize the legal system to suit the requirements of the modern market, as there must be clear mechanisms to protect investors & facilitate investment procedures, which contributes to improving the business climate in the country.” He pointed out, “The importance of strengthening corporate governance, as building a strong governance system is vital to ensuring transparency,” stressing: “Investors must feel that their money is protected & that there are effective mechanisms to monitor performance.” Mahood called for “focusing on education & awareness, as building human capabilities & developing skills in the financial sector contribute to creating an attractive investment environment,” stressing “the importance of establishing training programs & workshops targeting investors, bankers & government agencies.” He stressed, “The commitment of the Iraqi government and PM Muhammad Shiaa Al-Sudani to provide support to the Securities Commission & open new horizons for cooperation & partnership with investors,” considering, “this conference is an important step towards building a prosperous &d sustainable Iraqi economy.”
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Here's some articles of Dinarian interests... Some good news about the Dollar ER & falling oil prices. Int'l smart cards to be distributed. Treat as a rumor. Not verified. Your opine. Samson: CBI Reserves. Article: ”The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that the decline in oil prices will not affect the dollar exchange rate.“ Militia Man: The Int'l Smart Card. ARTICLE: Listen, PM’s directives support the development of the electronic payment systems here on the September 14 was yesterday the international smart card. The K company described the directives of the PM, Shia al Sadani, to develop the reality of the electronic payment in the tasks of our act. So obviously we already know that they’ve been doing this for quite a long time. A source says the PM’s directives come with the aim of improving performance in government institutions & benefiting from electronic payment within the private sector path. So getting the government & the private sector merged together with electronic payments, etc, is going to be a big issue. So the path to that private sector is what? Through electronic payments, the government institutions & capital markets basically will use the electronic systems to facilitate their work. I think you guys can all figure that out. What are they going to be doing? They’re going to be doing their work in a more transparent manner as they have in the past. So what does that do? Tells you right out the gate, they’re going to reduce corruption, they’re going to have speed, efficiency & transparency.
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Here's an article of Dinarianninterests... Iraqi Banks Are Working Hard To Keep The ER High. Treat as a rumor. Not verified. Your opine. FROM IRAQI SOURCES: Iraqi Banks Are Working Hard To Keep The ER High. ARTICLE: The secrets of the Dollar crisis against the Dinar. Economic expert confirmed that the crisis of the Dinar ER against the USD is due to many factors. Al-Halbousi said in a press statement: “It is well known that the rise in the Dollar ER & the decline in the value of the Iraqi Dinar have been ongoing for more than two years & here we confirm that the value of the Dollar is stable, but the value of the Iraqi Dinar fluctuates between rise & fall & most of the time it is a fall.” He continued, “The rise & fall of the Iraqi Dinar ER against the Dollar from time to time is due to several reasons, including the continuation of trade with the sanctioned countries, which requires financing from outside the platform by relying on the parallel market, which is the real controller of the ER. Until now, the CBI has no authority over it,” noting that “there are countries that live on the Dollar in Iraq in the absence of the role of the CBI to regulate the ER & stop the currency bleeding, with the penetration of these countries through private banks that dominate the currency selling window.” He explained that “private banks also push for the ER to remain high, because it benefits them. They have exploited the law of delivering Dollar remittances to individuals & companies coming from abroad & delivering them to their owners in Iraqi Dinars & at the official price & then they sell the Dollar at the parallel market price, which increases their profits. Therefore, they are a stumbling block to the stability of the ER & stopping the bleeding of the value of the Iraqi Dinar.” He explained that “remittances & the currency sales window are monopolized by a few banks that control the ER & manipulate it as they wish, which explains their achievement of imaginary profits from Dollar remittances, which has begun to drain Iraqi oil revenues that finance the window, knowing that the volume of daily Dollar sales is very suspicious & contradicts the volume of goods entering, which means the continued smuggling of Dollars abroad, carried out by the banks controlling the window & remittances & with international collusion,” Noting that “the American sanctions & the continued threat of them are another reason for the continued decline in the value of the Iraqi Dinar against the Dollar with the inability of the CBI to solve the problem of sanctions with the American side, as well as the inability to control the work of banks & control their fraudulent work that has caused Iraq problems with the Americans, in light of the continued smuggling of Dollars in various ways practiced by banks owned by foreign countries.” The economic expert pointed out that “the government is still counting on the CBI & its management to control the ER, which the CBI has not succeeded in, but rather has failed in all its steps with the arrogance of private banks & their control over the CBI with external support, in addition to the influence of these banks within the CBI, which means that until now it has not found a solution to stop the decline in the value of the Iraqi Dinar against the Dollar, which will lead us into major problems in the coming days, especially if new American sanctions are imposed on Iraq, in addition to the rise in the geopolitical conflict in the region that casts its shadow on Iraq in a multi-faceted manner.”
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Here's an article of Dinarian interests... F26 says the Budget is Activated & the ER is in the Budget. There is no evidence the ER is in the Budget. Has anyone heard anything of the ER in the Budget? Treat as a rumor. Not verified. Your opine. Frank26: Iraq-Boots-On-The-Ground Report via FIREFLY: The Budget Has Been Implemented. ARTICLE: We have Saleh the finance advisor to Sudani on television, Iraqi Channel One right now & he's saying that today the 2024 Budget it's in full force. He also says it's active & there's no need to send this budget to parliament for any approval. We are very confused. We thought it was being amended...Now saying no need to send. FRANK: The budget does not need parliament. I keep telling you this over & over over. The budget waits for the new ER. The ER is not waiting for anyone or anything especially stupid parliament.
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Here's some articles of Dinarian interests... Liberating the ER back to normal. Treat as Rumors. Not verified. Your opine. KTFA via Clare: Liberating The Dinar From The Official Rate… Obstacles & Solutions. ARTICLE: With the return of fluctuations in the Dinar exchange rates, there is renewed talk about the necessity of getting rid of the “official price” with the aim of reducing the difference with the price in the parallel market, by subjecting the local currency to global supply & demand, similar to other countries. But many obstacles stand in the way of this step, among them “ The unilateralism of the Iraqi economy, which relies on oil & government revenues & the absence of correspondent banks in the dinar currency, according to specialists, also called for taking other possible solutions, such as “deleting the zeros” from the currency & withdrawing the cash mass from citizens & transferring it to banks. Bruce The Goose via WiserNow: GAGGED. ARTICLE: What we’re finding now is that some of the sources that we’ve had have…clammed up – they’re under new NDAs they’ve got gag orders…we don’t get as much intel as we’d like…That’s the bad side…The good side is…It shows that we’re so close to this going because they don’t want certain leaks to come out of certain portions of this exchange procedure & everything…they just want to have it quiet. That’s a good sign…
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Can There Be An ER Change In One Part Of Iraq & Not the Other?
Luigi1 posted a topic in Dinar Rumors
Here's two articles of Dinarian interests... Lower denominations are loaded in Kurdistan ATMs. This would indicate a Kurdistan RV-RI. There is no official change in the ER. Can there be an ER Change in one part of Iraq & not the other? These Gurus change their story as they go. The Goose has been saying for weeks that Kurd ATMs are loaded. These are MZ & Goose rumors...take with a grain of salt. Treat as rumors. Not verified. Your opine. MarkZ via PDK: The Brand-New Lower Denominations Are Out. ARTICLE: The chatter in Iraq is extremely awesome right now... I am hearing today that they are educating folks & spreading lower denominations ...brand new lower denominations. They are more prominent in the Kurdish region now is what I heard. A number of ministers have said that the ”parallel market” will be fixed in the coming days. How are they going to fix that? A revaluation. Bruce The Goose: Lower Denoms Are Loaded In ATMs In Kurdistan. ARTICLE: I'm hearing Kurdistan ATMs are loaded with the new lower denominations & will be released after our Thanksgiving holiday after US banks re-open for business on Black Friday. -
9-24-2023 Newshound Guru Pimpy We know that the Iraq dinar is much more valuable currency, how much of an impact it's [The US House of Representatives will hold a session next week to cancel the authorization for the invasion of Iraq] going to have on Iraqi dinar remains to be seen. Like I said I don't want to promise anything but I think then we could see some much bigger jumps in the value if outside investors start coming in because the authorization has been reversed, if these restriction are removed off the Iraqi dinar then we can see some huge jumps.
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Here's an article of Dinarian interests... Potential to have a really big positive impact on the Iraqi Dinar. Treat as a rumor. Not verified. Your opine. Pimpy: The Last Sanction Is Limited Access To International Financial System. ARTICLE: Iraq has been excluded from the global financial system due to US sanctions which has limited its ability to access international markets & made it difficult for foreign investors to participate in their country’s economy. With the reveals of this authorization [The US House of Representatives will hold a session next week to cancel the authorization for the invasion of Iraq] this can all change. You might see a pretty big jump in the Iraqi Dinar. I don’t want to promise anything & don’t want to blow smoke up people’s butt but it has the potential to have a really big positive impact on the Iraqi Dinar.
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Here's an article of Dinarian intersts... MarkZ is the latest Guru to claim the RV is in the Budget Law. There's no evidence pointing of a rate change linked to the Budget Law. Treat as a rumor. Not verifieid. Your opine. MarkZ: via PDK: The RV Is In The Budget. ARTICLE: I am still hearing the rumor that we will see the new rate when they issue & publish the instructions for the budget…which has already been passed. They have done a great job of keeping this under wraps & secret. Getting mixed reports as to whether this will be Saturday or Monday/Tuesday. Personally I think this is going to be “IT”.
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Here's an article of interests from Dinarland... Procedures To Limit The Rise In The Exchange Rate Of The USD. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Starting Procedures To Limit The Rise In The Exchange Rate Of The USD Against The Dinar. The Iraqi Trade Bank decided to expand the scope of the external financial transfer process for merchants. The media expert of the bank, Aqil Al-Shuwaili, said in a statement: “Based on the directions of the Presidency of the Council of Ministers & the CBI to limit the rise in the exchange rate of the USD against the Dinar in the local markets & to support the import process in accordance with the legal frameworks & correct & sound contexts to ensure the safety of financial transfer operations, which are positively reflected.” On individual merchants & shop owners, the Trade Bank of Iraq (TBI) decided to take the initiative to expand the scope of the external financial transfer process. He explained, “This will be done by allowing the aforementioned groups to import consumer goods at the exchange rate of the CBI 1320 Dinars per one USD, provided that the value of the external transfer for each individual trader per month does not exceed ($100,000 only one hundred thousand USD),” indicating, “It will be Work on this matter, starting with the bank’s branches in the capital, Baghdad & the work will be expanded in other branches outside Baghdad soon, according to the instructions of the Iraqi Trade Bank. Below are the requirements for opening an account for individual merchants and shop owners as follows: 1- Identification documents: Civil status identity, Iraqi nationality certificate or unified national card, housing card, Iraqi passport, or submitting an undertaking to provide us with the passport as soon as it is issued. 2- Submitting what shows the deposited sources of income (sale receipts or contracts for periods not exceeding the previous six months) or any other documents that show that. 3- Submit proof of work address (lease contract or real estate deed). 4- Fill in the Know Your Customer (KYC) form. 5- A valid Chamber of Commerce ID (if any). 6- Provide evidence of the merchant’s activity. 7- Submitting an undertaking that the individual trader will not own a company registered now or in the future.
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Here's an article from Dinarland... US policies weakens IQD against the USD. Oh No...The IQD is going in the wrong direction. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: The Crisis Of The Rise Of The Dollar Returns To The Fore & An Upcoming Parliamentary Procedure. ARTICLE: On Friday, the Parliamentary Finance Committee confirmed its intention to host the governor of the Central Bank & the Minister of Finance during the next week, to find out the reasons for not controlling the parallel exchange rate. The parallel price means the exchange rate of the Dollar in the market and exchange offices & not the official rate set at 1132 Dinars per Dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers. The exchange rates of the USD rose against the Iraqi Dinar, in the Baghdad markets & in Erbil, the capital of the Kurdistan region, after Washington imposed sanctions on 14 Iraqi banks. As the Al-Kifah and Al-Harithiya stock exchanges recorded, with the closing, yesterday evening, Thursday, 150,900 dinars for 100 Dollars, while in Erbil it recorded 151,000 Dinars for every 100 Dollars & the purchase price was 150,950 Dinars for 100 Dollars. In this context, Moein Al-Kazemi, a member of the Finance Committee, deputy, says, “The government tried to control the exchange rate, by reducing the Dollar from 145 to 130 & was able to provide remittances to countries to which remittances can be sent.” Al-Kadhimi added, “But there are other countries from which Iraqi merchants import & US sanctions prevent sending these remittances, forcing these merchants to obtain Dollars from the parallel market.” He explains, “Which leads to the Dollar’s price remaining high in this market & with the recent measures of the US Federal Reserve not to deal with a number of private banks, this had an impact on the Dollar’s price rise, to reach 155.”
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Here's an article of Dinarian interests... Can Iraq become a member of the WTO with existing ER. South Korea has a similar ER...has been a member for decades. Treat as a rumor. Not verified. Your opine. Pimpy: WTO. ARTICLE: The WTO isn’t going to let them in unless they change their exchange rate. That’s false. They have many members in there with even worse currencies than the Iraqi dinar…Vietnam is one of the members & they’ve been in there since 1950…For every US dollar you get 23,540 Vietnam Dong. To say they have to increase your exchange rate in order to be a member of the WTO is false.
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Here's an article of Dinarian interests... Sudani talks about the problem with the high Dollar ER. Treat as a rumor. Not verified. Your opine. From Other Sources: The Sudanese Is Talking About The Problem Of The Dollar. ARTICLE: Prime Minister Muhammad Shia’ al-Sudani revealed five priorities for the government program, while referring to directives to review large previous contracts & subject them to financial & legal scrutiny. Al-Sudani said, during his talk about the most important aspects of the semi-annual report for the implementation of the government program, “The program has received continuous follow-up since the approval session until the last session in which this report was approved On June 20, this work was accomplished without a budget & we worked with the available resources in the ministries & governorates.” According to the powers of the government. He added, “Focus was placed on the five priorities of the government program, represented by confronting unemployment, addressing poverty, combating financial & administrative corruption, providing services, & economic reform,” explaining, “the priority is to speed up the completion of Lagging projects that have been hampered for years, due to mismanagement, lack of allocations, or because of corruption. “. He pointed out that “the operation of the Karbala refinery with a capacity of 140,000 barrels per day, and it will provide Iraq with up to $3 billion that used to go to import oil derivatives & proceed with the project to expand the Shinafia refinery in Diwaniyah.” On the reality of the electric current, Al-Sudani said, “311 km of feeders (11, 33 KV) and 923 km of electric transmission lines have been extended, which contributed to bringing the national production of electric power to 26,000 megawatts.” In another matter, Al-Sudani confirmed, “The basket has been distributed food baskets for 5.871 million of those covered by protection, 5 food baskets were distributed, and the sixth is being distributed among them.” He added, “42,000 displaced families are covered by social protection, and tuition fees are reduced for students covered by social care in public universities for evening studies and private universities.” He continued, “We directed all ministries to review large previous contracts & subject them to financial & legal scrutiny, and we assured ministers & the minister’s entourage that office managers should not be from partisan & political parties,” adding, “Recovering huge sums of money.” looted money in the case of theft of tax secretariats & this file is subject to daily follow-up by the government.
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Here's an article of Dinarian interests. What we already knew all along. The Gurus were lying when they said the ER is in the Budget Law. The RV-RI is a separate event. Budget Law will increase dependence on the USD. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Financial expert: The Dollar Will Not Decrease Against The Iraqi Dinar With The Approval Of The Budget Law. ARTICLE: Financial expert Muhammad al-Hassani ruled out, on Sunday, the decline in the exchange rate of the Dollar against the Iraqi Dinar with the approval of the budget, stressing that the decrease & rise are linked to the procedures of the CBI. Al-Hassani said, “The exchange rate has nothing to do with approving the budget, but rather it is monetary policy from the task of the CBI, whose procedures are supposed to lead to the stability of the exchange rate.” He added, “Government spending with the approval of the budget will not lead to a decrease in the Dollar, but on the contrary, as it will lead to an increase in the demand for the Dollar because the government will spend new money for the new hires from the beginning of issuing their orders, which are salaries accumulated for more than 6 months & this will lead to a mass Large cash will go down to the market & will be spent on various matters & therefore this cash block will be transferred in Dollars in the purchase process, because there is no national production.
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Here's an article of Dinarian interests... IQD will strengthen against the USD. CBI committed to strengthening the IQD. It sounds more like a gradual float. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner Central: Commitment To Strict Currency Financing Instructions Will Significantly Reduce The Exchange Rate. ARTICLE: The Central Bank revealed its plans to raise financial & gold reserves, while noting that adherence to foreign currency financing packages will contribute to a significant decrease in the Dollar exchange rate in the coming days. Al-Alaq said, in an interview with an official news agency, that “packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform,” noting that “the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment & study.” “. Al-Alaq added, “These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer & mitigated the fluctuations in exchange rates, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per Dollar.” “. He stressed, “There is a significant improvement in the work of the trade financing platform & the cash payment platform & that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days.” Regarding plans to raise financial reserves and gold in the central bank, Al-Alaq said, “The two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports & the price of a barrel, while the depletion of reserves takes place through importing goods & services as well as external transfers.” “, stressing that “under normal circumstances, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity & relatively good returns.”
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Here's an article of Dinarian interests... Parliaments sets the official ER at 1,300 for the next 3 years. Treat as a rumor. Not verified. Your opine. From Other Sources: Parliament Votes On Two Articles That Include The Exchange Rate At 130 Thousand Dinars. ARTICLE: Parliament voted, Thursday, on two articles that include the exchange rate at 130,000 dinars. The House of Representatives also voted, earlier, on the first paragraph of the budget law. On Thursday, the House of Representatives proceeded to vote on the draft federal Budget Law for the Republic of Iraq for the fiscal years (2023, 2024, 2025). The media department of the House of Representatives announced the start of the voting session on the Budget Law, in the presence of 258 deputies.
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Here's an article of Dinarian interests... IQD slides to nearly 160,000 per 100 USD. CBI is unable to stop the decline of the IQD. Treat as a rumor. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Dollar Exchange Rates On The Iraqi Stock Exchange For Today. ARTICLE: The National News Center publishes the exchange rates of the Dollar against the Iraqi Dinar on a daily basis, according to variables of the currency exchange market in the capital, Baghdad & the country’s provinces. In Baghdad: The selling price of the Dollar is 157,500 per 100 Dollars The purchase price of the Dollar is 156,500 per 100 Dollars In the North: The selling price of the Dollar is 157,750 per 100 Dollars The purchase price of the Dollar is 156,750 per 100 Dollars In the South: The selling price of the Dollar is 157,750 per 100 Dollars The purchase price of the Dollar is 156,750 per 100 Dollars
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Here's an article from Dinarland... Iraq-US high level meetings Part II. Treat as a rumor. Not verified. Your op From other sources: High Level Negotiations. ARTICLE: The start of the second round of high level meetings between the Iraq delegation & the US government regarding the high price of the Dollar. A source said in a news interview today, that "the meeting which was being held in Turkey will compliment yesterday's meeting".
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From around Dinarland... No plans to change the ER of the Dollar. Smoke & mirrors or is a RV-RI imminent? Treat as a rumor. Not verified. Your opine. From other sources: ARTICLE: A New Parliamentary Regarding The Exchange Rate Of The Dollar. Parliament Finance Committee head, Jamel Cougar said "The issue of the rise of the exchange rate of the Dollar is due to political & economic speculations" indicating "the government is not seeking to raise the exchange rate...things are still under control"
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here's an article from Dinarland... Article suggests one month to change the ER. What is not known is at what rate. Treat as a rumor. Not verified. Your opine. BondLadys'Corner via TLM274: ARTICLE: A Parliamentarian Reveals The Date Of The Decline In The Dollar Exchange Rate. A member of the House of Representatives, Baqir Kazem, revealed, on Saturday, the new measures taken by the CBI in order to reduce the exchange rate in the local markets, while confirming that the rise in the price of the dollar will decrease within a month from now. Kazem said in an interview, “The CBI is working to form a new appropriation department for the import of goods in order to control the parties that used to monopolize the dollar in the local markets,” noting that “these measures came after the escalation of smuggling operations in the previous period, which led to the rise that is happening.” right Now”. He continued, “The high exchange rate these days will not last more than a month after the new procedures that are being implemented by the CBI,” noting that “the latter will work to sell the dollar to merchants in the circle of new credits, at subsidized prices, directly.” He noted that “the reason for the increase is that many merchants transfer millions of dollars to money exchangers & fake companies working to smuggle it out of Iraq,” stressing that “the exchange rate after the new procedures will settle at 146,000 Iraqi dinars for 100 dollars.” The PM called for “opening the file of the currency auction, the exchange rate & the state of chaos in the markets within the agenda of the next cabinet session & taking immediate & urgent measures to address this file, which has become an unacceptable door to corruption & waste of public money.” The Finance Committee in the House of Representatives attributed earlier the reasons for the high price of the dollar against the Iraqi dinar to the pressure exerted by the US Federal Bank on the CBI.