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42 minutes ago, Pitcher said:

“in short period of time.”

 

navira, thanks for your posts.  Just so I understand the above quote.  “ in a short period of time”.  Does that mean soon, in few months, right around the corner, any day now, or IMMINENT!!!  😂 😂 😂 

 

Hahahahaha. Cheers !! 

Hahaha..hey bro. I meant in less than a month bro....cheers

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7 minutes ago, navira said:

Hahaha..hey bro. I meant in less than a month bro....cheers

 

navira, enjoy the rest of your vacation......

save some vaca time for Maui...

Cheers....

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8 hours ago, DWS112 said:

Last statement in the PDF:

تنفذ هذه الضوابط بعد (5) أشهر من تاريخ نشرها في الجريدة الرسمية. رئيس مجلس مكافحة غسل الأموال وتمويل الإرهاب محافظ البنك المركزي العراقي وكالة

These controls shall be implemented after (5) months from the date of their publication in the Official Gazette.

Reading the above articles in this post leads my thinking to a early 2920 RV.. JMO

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1 hour ago, NoviceInvestor said:

Reading the above articles in this post leads my thinking to a early 2920 RV.. JMO

2920 is about right I’d say.. lol

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3 hours ago, navira said:

The reason why i said 10 cents is not the rate

First, U are given the amount 10,000 dollars.

Second, or its equivalent.( this is unknown variable.)...yes u can guess it's...ten cents because 100,000 dinars can be multiplied by .10 cents it will work out to 10,000 dollars...u can plug in any numbers ...plug in 50, 000 dinars or 10,000 dinars ang get the actual rate....10 cents is a start of a guess but not the actual rate.

 

This is what equivalent means:  Amounts allowed to enter or exit them to and from the territory of the Republic of Iraq; The amounts below (10000) (ten thousand US dollars) or equivalent in other currencies without being declared.  (Definitely not an unknown variable!)

Edited by Floridian
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7 minutes ago, Floridian said:

 

This is what equivalent means:  Amounts allowed to enter or exit them to and from the territory of the Republic of Iraq; The amounts below (10000) (ten thousand US dollars) or equivalent in other currencies without being declared.  (Definitely not an unknown variable!)

Yes that is what equivalent means however they specifically also break out the dinar and say 1,000,000. Which from the article and your math you would have to assume it would be .10 cents. However that does not mean in can’t be much greater either, they only said you couldn’t take 1,000,000 dinar, that value could be .10c or $1.17 per dinar you Don’t know that answer you are assuming it will be .10c but anything above .10c would still make the article valid!!  The dinar will NOT come out at .10c it will be much higher than that!!

Edited by Dinarrock
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1 minute ago, Dinarrock said:

Yes that is what equivalent means however they specifically also break out the dinar and say 1,000,000. Which from the article and your math you would have to assume it would be .10 cents. However that does not mean in can’t be much greater either, they only said you couldn’t take 1,000,000 dinar, that value could be .10c or $1.17 per dinar you Don’t know that answer you are assuming it will be .10c but anything above .10c would still make the article valid!!  The dinar will NOT come out at .10c it will be much higher than that!!

 

Alright, alright, I'm done.

Let's just see what happens in February, 2020.

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3 hours ago, navira said:

There it is...1,000, 000 dinars...now this u can plug in to the unknown variable...and get 1 cent for every dinar...but not to worry though because if this is a staring rate and it is a float, supply n demand will drive it high in short period of time....

I post something similar in a different thread . If it comes out at a .10 pure demand will drive the value up and de-dollorize Iraq. 

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Here you go:

 

 

   On 9/23/2019 at 6:51 PM,  Laid Back said: 

Maybe like gregp said, a $0.10 RV and the 250, 500 and 100 notes are going to coexist with LD notes for a period of two years. 

 

Go RVasap

Go Go Go 

 

 

 

 

Read more  

 

   23 hours ago,  ChuckFinley said: 

If it comes out at $0.10 and it is not a peg , I see the dinar moving up relatively fast. Investors will be moving in causing a demand, followed by the local population. Locals will be picking up about 10 dinar for one USD. This will help dedollorize Iraq.   

I think once this hits, things will move much faster than people think. Even at a dime they will be forced to issue the smaller notes and coin in order to make change and do business. 

 

I am fine with a dime. Time for all of us to move on. 

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4 hours ago, Floridian said:

 

100,000 (which they say is maximum allowed) works out to 10 cents per IQD.

 

10 cents per IQD equals $10,000

 

Thanks Floridian was just wondering how u arrived at 10 cents is all  , heck nobody has to prove anything we're all hoping for the same outcome and really its just speculations & futile guesses we simply will never know till its past tense ... all the best 

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Heck I dont care if it comes out at 1 cent per dinar. I will jump ship because this ship has been at sea to long. I have a feeling it's going to sink. 

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3 hours ago, Floridian said:

 

Alright, alright, I'm done.

Let's just see what happens in February, 2020.

Today Floridian I would have to agree with you .. The news of the past few weeks has been mixed but mostly optimism, however to me there has always been something to drag the can further down the road .. TBH I am so jaded by news of the past couple of days I am wondering if I want to have the inclination to continue. 

Edited by NoviceInvestor
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The Central Bank announces the adjustments of funds entering and leaving Iraq

33822.jpg?watermark=4
 

Baghdad - Iraq today:

The Central Bank of Iraq announced amendments on funds entering and leaving Iraq. The bank said in a statement that it "issued amendments to the permit controls on the incoming and outgoing funds across the Iraqi border and published in the Iraqi newspaper Al-Waqa'eq newspaper, issue (4551) on 19/8/2019, before entering into force in February 2020," indicating that " The amendment comes to spare citizens and travelers legal accountability for the violations stipulated in these controls during the transfer of funds across the border. " "The amendment is in addition to paragraph 5 of the regulations that the customs authorities have the right to inspect persons and inspect their luggage to verify the authenticity of information disclosed upon verification or suspicion of a false declaration," the bank said.

He added that he added to the controls for her paragraph 8:

1- Amounts allowed to be brought in or out of and into the territory of the Republic of Iraq and include amounts below 10,000 US dollars or its equivalent in other currencies without being declared.



2- Amounts exceeding $ 10,000 to $ 20,000, provided that they are declared with the necessity of supporting the purpose of entering such amounts. In the absence of supporting documents, the traveler shall submit an undertaking to bring such documents after 30 days from the date of the declaration.

3 - It is prohibited to enter or take out amounts more than 20,000 US dollars or its equivalent in other currencies and the process of entering or withdrawing those amounts through financial institutions exclusively.



4 - It is prohibited to enter or remove amounts in excess of one million Iraqi dinars even if they have been declared and the amount is withheld and the legal proceedings are taken.


These controls shall be implemented after 6 months from the date of their publication in the Official Gazette

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2020-02-22

Today, Saturday, 👈 the General Authority of Customs issued the first amendment of the controls for declaring funds upon entry and exit across the Iraqi borders 

Details .. Customs issues an amendment to the rules for permission to enter and remove funds

 

Details .. Customs issues an amendment to the rules for permission to enter and remove funds


The authority said in a statement that Alsumaria News received a copy of it, that it "issued the first amendment to the controls for declaring the money when it was entered and removed across the Iraqi borders No. (1) for the year 2017 issued by the Money Laundering and Terrorist Financing Office, which includes the following:

 

1- The following is added to paragraph (5) of the controls, and item (c) thereof:

 

C - The customs authorities have the power to search people and inspect their luggage to verify the authenticity of the information declared upon investigation or suspicion of a false statement or a case of withholding the permit or in case of suspicion that the funds being transferred are illegal.


The following shall be added to the controls, and paragraph (8) thereof:

 

(8) The amounts permitted to be entered or removed from and to the territory of the Republic of Iraq include the following:

 

A - Amounts below (10,000) (ten thousand US dollars) or its equivalent in other currencies without declaring it.

 

B - Amounts exceeding (10,000) (ten thousand US dollars) to (20000) (twenty thousand US dollars) provided that they are declared with the necessity of showing them in support of the purpose of entering or removing these sums and in the event that the supporting documents are not available, the traveler makes a pledge By bringing those documents after (20) days from the date of the permit.

 

A- It is forbidden to enter or remove amounts in excess of (20,000) (twenty thousand US dollars) or its equivalent in other currencies, and the process of entering or removing these amounts through financial institutions is exclusively.

 

D- It is forbidden to enter or remove amounts in excess of (..., ... 1) (one million Iraqi dinars) even if it is declared and the amount is seized and legal measures are taken against it.

 

The Customs Authority noted that "the amendment entered into force on 19/2/2020 at border crossings."

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$10,000 dollars is allowed but 1,000,000 IQD is forbidden 🚫 

Looks like they are planning to add value to the IQD 

 

Go Dinar

Go international 

Go RV

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32 minutes ago, Laid Back said:

$10,000 dollars is allowed but 1,000,000 IQD is forbidden 🚫 

Looks like they are planning to add value to the IQD 

 

Go Dinar

Go international 

Go RV

That how I read it when I looked at the exchange rates. Hmmmmmmm

 

Trust you are doing well there LB. 

 

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10 minutes ago, ChuckFinley said:

That how I read it when I looked at the exchange rates. Hmmmmmmm

 

Trust you are doing well there LB. 

 

Doing well my friend 👍🏼🙂

Trust you are doing well too. Enjoy the weekend 

 

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3 minutes ago, Floridian said:

Well................... one penny makes 1,000,000 dinar equal to $10,000.

Very disappointing, if that's what they do.

 

Hang in there Floridian. Look at it this way. We in the US can take out $10k or less with no problem.  Iraq is saying the something as wells as if it is over but yet under 20k you will need supporting docs. But you cannot take out 1M dinar even if it is less value. This tells me that they do not want the currency to leave at, all because there will be an increase. Why let 1M IQD out the door and it RV at 1 to 1 and the guy leaving the country just made a cool million and never claimed it with Customs. 

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9 minutes ago, Laid Back said:

Doing well my friend 👍🏼🙂

Trust you are doing well too. Enjoy the weekend 

 

Same here - thanks.  

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