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Governor of the Iraqi Central Bank: We will double the sale of the dollar to exchange companies


yota691
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The CBI site has in fact updated the dinar exchange rate today from 1190 to 1460!! So we should be well on our way to an RV very very soon IMO. The PM Kazemi promised the citizens in the white paper Currency Reform which does not mean lowering your exchange rate by 22% making it even worse for the citizens. I wish someone had actual intel also on how long the lines were at the banks for the past few days!!

 

I honestly believe they will not leave the rate at 1460 for very long. Their inflation will go up and the citizens will gather and riot and protest count on it this is NOT what they were promised!! I still say they RV by Jan 6th is my thoughts. Now if they delete the zeros and RV from that new 1460 rate gives us this math.

 

1/1460 = .00068493 so .69 cents of you round up!! 

Edited by Dinarrock
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1 hour ago, Carrello said:

 

 

Thanks, Laid Back. I would add one positive caveat to the flooding of dollars and exchanging for lower denoms: It is anticipated Iraq will have full WTO membership at the beginning of 2021, and a requirement for full membership is MCP compliance (multiple currencies are not allowed). The dollar must be removed to comply with WTO requirements. 

 

 

Great observation Carrello. Thanks for your input

Happy Holidays 🎅🏽🎄☃️
We wait.!

Go RV

Go 2021

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5 hours ago, Laid Back said:

Great observation Carrello. Thanks for your input

Happy Holidays 🎅🏽🎄☃️
We wait.!

Go RV

Go 2021

jan is going to be exciting, I hope we see a rate change in it go international in Jan and then April will be the big boom rate! if it doesn't go international at a big boom rate then the first 3 months of next year we are going to be very happy indeed

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Central: We will double what exchange banks buy to $ 100,000

 
 Baghdad: Mustafa Al-Hashemi
 

The decision of the Central Bank to reduce the value of the local currency and set the price of the dollar at 1470 dinars per dollar, generated great dissatisfaction among the public, despite the positive advantages it has on the economy, while the opinions of some economists regarding the decision were divided between supporters and opponents, some of them see it as an opportunity to rise The reality of production and the reduction of imports, and some of them believe that it burdens the citizen as a result of the high prices of goods and consumer materials.
In this regard, the Director of the Center for Market Research and Consumer Protection, Dr. Yahya Kamal Al-Bayati, affirmed the consumer’s ability to return the Iraqi dinar exchange rate to 120,000 Iraqi dinars and even less than this price.

Al-Bayati explained to Al-Sabah that this would be "simply by not spending one dinar on goods and unnecessary goods for one week."
 
Extending abstinence
Al-Bayati added, "If the dollar does not decrease, it is possible to extend refraining from buying imported and unnecessary goods for another week," calling for "going towards buying the national product to have an active role in stabilizing the market and not being drawn into the policies of some traders."
 the crisis".
Immediately after the central bank’s decision was announced, the dollar’s prices jumped, surpassing the 1,400 dinars per dollar, across the markets of the governorates of Iraq to record 1,460 dinars yesterday morning, at a time when Central Bank Governor Mustafa Ghaleb fearsome that the bank would double the sale of the dollar to banking companies.
 
Price fixing
The governor of the Central Bank said in a statement to the Iraqi News Agency (INA): "The discreet precautions enable us to stabilize prices," noting that "exchange houses buy 50 thousand dollars, and we will double it to 100 thousand dollars," adding that "the abundance of dollars will make it stable in the market."
The Central Bank had set, on Saturday, the new price for buying and selling foreign currency. And he decided to amend the exchange rate to be 1450 dinars per dollar as the purchase price from the Ministry of Finance, 1460 dinars per dollar as the selling price to banks, and 1470 dinars per dollar as the selling price to the public.
 
exchange rate
For his part, economic researcher Firas Amer said: “The Central Bank is responsible for determining the exchange rate, and if there is an unjustified rise in the dollar’s price, market prices should be controlled to prevent inflation, which will increase the suffering of the poor and those with limited income, and take us back to the 1990s.
 the past".
Social networking sites were buzzing, criticizing the central’s decision, and its activists launched tags denouncing the targeting of the Iraqi dinar, denouncing the high price of the dollar, which in turn will raise the prices of basic materials that affect the lives of citizens.
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Central: We will double what exchange banks buy to $ 100,000

Monday 21 December 2020 58

Central: We will double what exchange banks buy to $ 100,000
 
 Baghdad: Mustafa Al-Hashemi
 
The decision of the Central Bank to reduce the value of the local currency and set the price of the dollar at 1470 dinars per dollar generated great dissatisfaction among the public, despite the positive advantages it has on the economy, while the opinions of some economists regarding the decision were divided between supporters and opponents, some of them see it as an opportunity for advancement. The reality of production and the reduction of imports, and some of them believe that it burdens the citizen as a result of the high prices of goods and consumer materials.
In this regard, the Director of the Center for Market Research and Consumer Protection, Dr. Yahya Kamal Al-Bayati, affirmed the consumer’s ability to return the Iraqi dinar exchange rate to 120,000 Iraqi dinars and even less than this price.
Al-Bayati explained to Al-Sabah that this would be "simply by not spending one dinar on goods and unnecessary goods for one week."
 
Extending abstinence
Al-Bayati added, "If the dollar does not decrease, it is possible to extend refraining from buying imported and unnecessary goods for another week," calling for "going towards buying the national product to have an active role in stabilizing the market and not being drawn into the policies of some traders."
 the crisis".
Immediately after the central bank’s decision was announced, the dollar’s prices jumped, surpassing the 1400 dinars per dollar, across the markets of the governorates of Iraq to record 1,460 dinars yesterday morning, at a time when Central Bank Governor Mustafa Ghaleb fearsome that the bank would double the sale of the dollar to banking companies.
 
Price fixing
The governor of the Central Bank said in a statement to the Iraqi News Agency (INA): "The discreet precautions enable us to stabilize prices," noting that "exchange houses buy 50 thousand dollars, and we will double it to 100 thousand dollars," adding that "the abundance of dollars will make it stable in the market."
The Central Bank had set, on Saturday, the new price for buying and selling foreign currency. And he decided to amend the exchange rate to be 1450 dinars per dollar as the purchase price from the Ministry of Finance, 1460 dinars per dollar as the selling price to banks, and 1470 dinars per dollar as the selling price to the public.
 
exchange rate
For his part, economic researcher Firas Amer said: “The Central Bank is responsible for determining the exchange rate, and if there is an unjustified rise in the dollar’s price, market prices should be controlled to prevent inflation, which will increase the suffering of the poor and those with limited income, and take us back to the 1990s.
 the past".
Social networking sites were buzzing, criticizing the central’s decision, and its activists launched tags denouncing the targeting of the Iraqi dinar, denouncing the high price of the dollar, which in turn will raise the prices of basic materials that affect the lives of citizens
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 December 21, 2020

The results of the foreign currency sale window on Monday 12/21/2020, and executed today

 

Advertisement No. (4320)

Sale date - Monday 12/21/2020 and executed today

the details

Amount

Total sale for the purposes of enhancing funds abroad (transfers, credits)

146,939,353

Total cash sale

9,000,000

Total sales

155,939,353


Note that:

  • The sale price of the sums transferred to bank accounts abroad is ( 1460 ) dinars per dollar.
  • The cash sale price is ( 1460 ) dinars per dollar.

» The Central Bank of Iraq sales schedule of foreign currency (amounts in thousands of dollars) Monday 12/21/2020 and executed today

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15 hours ago, screwball said:

clearly if rate has changed its only local.....

What do you mean by " local "? Do you mean like iraq allow iraq citizens only to exchange old dinars with new denoms? Or do you mean like " incountry rv only ", so all dinar investors have to come to country of iraq to exchange dinar for dollars?

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15 hours ago, screwball said:

jan is going to be exciting, I hope we see a rate change in it go international in Jan and then April will be the big boom rate! if it doesn't go international at a big boom rate then the first 3 months of next year we are going to be very happy indeed

I sounds like hit the lottery to me.

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23 minutes ago, rvmydinar said:

What do you mean by " local "? Do you mean like iraq allow iraq citizens only to exchange old dinars with new denoms? Or do you mean like " incountry rv only ", so all dinar investors have to come to country of iraq to exchange dinar for dollars?

 

We are waiting for the IQD to go international, Article 8, for all the obvious, hashed out reasons discussed here for years.

 

Why would there be an "in-country RV only?"

Why would we, as investors, have to travel to Iraq to exchange?

 

Do you know when we exchange IQD for dollars, the IQD will be deposited into the US Treasury as foreign reserves?

 

Do you know Iraq makes no payout to anyone? In Iraq a dinar is a dinar, no matter the exchange rate. 

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32 minutes ago, Carrello said:

Why would there be an "in-country RV only?"

Why would we, as investors, have to travel to Iraq to exchange?

 

Do you know when we exchange IQD for dollars, the IQD will be deposited into the US Treasury as foreign reserves?

 

Do you know Iraq makes no payout to anyone? In Iraq a dinar is a dinar, no matter the exchange rate. 

I also disagree with " in-country rv " too. That's why I just want to make sure the real meaning of " local " from your point of view when you write " local ". And we all are waiting for iqd to be globally recognized currency.

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On 12/20/2020 at 7:15 AM, yota691 said:

Shafaq News / Today, Sunday, the Central Bank of Iraq asked all banks to stop work in paragraphs 2, 3 and 4 regarding the commission of cash withdrawal for the dollar, explaining that the suspension came as a result of changing the dollar exchange rate.

 

The bank said in a statement received by Shafaq News that it "stopped working in paragraphs 3, 4 and 5 contained in the book numbered 9/2/126 issued on March 16, 2020, while it called for continuing to deliver the amounts of remittances received in US dollars to customers' accounts with your banks in the same currency, in full. Indicating that the suspension came as a result of a change in the dollar’s exchange rate.

 

The bank explained that "the paragraphs that have been stopped are the second paragraph, which stipulates the disbursement of the amounts of incoming transfers to banks at the rate of 75% in cash in dollars according to the above commission and (25%) an Iraqi dinar is paid according to the official exchange rate (1182) dinars to the dollar."

Does anyone see any significance in the highlighted statement above?

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22 minutes ago, rvmydinar said:

I also disagree with " in-country rv " too. That's why I just want to make sure the real meaning of " local " from your point of view when you write " local ". And we all are waiting for iqd to be globally recognized currency.

 

I guess you just have a lot of questions. Even if we know answer, we can ask the question. 

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10 minutes ago, GreedyDinar07 said:

The Onada Currency Converter is still showing the rate at 0.00084. So what in the hell is really going on? No one will give a damn about their currency or Iraq if it stays at 1450 and Safe Dinar is stilling selling it at the same $1096 per million....

US dollar USD 1460,000
Euro EUR 1789.814
Pound sterling GBP 1975.818
Canadian dollar CAD 1142.857
Swiss franc S.FR 1653.454
Swedish krona SEK 176.723
Norwegian krone NOK 170.195
Danish krone DKK 240.591
Japanese yen JPY 14.140
Chinese Yuan CNY 223.173
Australian dollar AUD 1108.724
Special drawing rights SDR 2108.196
Gold for 24-ounce Gold 2725637.500
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14 minutes ago, GreedyDinar07 said:

The Onada Currency Converter is still showing the rate at 0.00084.

That would be accurate if the rate was 1182,  That number comes out of a yota post listed above...see my last post for the source wording.

 

1 hour ago, adhoc10 said:

an Iraqi dinar is paid according to the official exchange rate (1182) dinars to the dollar."

 

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Iraq's agricultural industries are sure to gain from this currency manipulation. Becoming less reliant on Iranian produce has got to be a good thing!?

 

And, the IRGCs stock of stolen dinars just took a haircut. So, did ours, but I can live with that short term, if it helps the Iranian people rise up against their theocratic-terrorist rulers.

 

It will also be cheaper to buy in-country products I Iraq which should help get manufacturing off of the ground. Good for Iraqi pharmaceuticals and extraction industries, etc. Good for foreign investors in this space.

 

So, a question to the fearless:

Is this a dinar 'holiday sale' at a 20+% discount.

If so, I need to figure out where I can buy at the new rate?

 

 

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7 hours ago, Carrello said:

 

We are waiting for the IQD to go international, Article 8, for all the obvious, hashed out reasons discussed here for years.

 

Why would there be an "in-country RV only?"

Why would we, as investors, have to travel to Iraq to exchange?

 

Do you know when we exchange IQD for dollars, the IQD will be deposited into the US Treasury as foreign reserves?

 

Do you know Iraq makes no payout to anyone? In Iraq a dinar is a dinar, no matter the exchange rate. 

exactly.....people think they have to buy our dinar back??? doesnt happen that way!!! most dont know. world wide our dinar will be exchanged for the countries currency where you live and exchange and desposited into their central bank reserves.

 

In my opinion countries are sitting on truck loads of dinar all will be revalued assets in their reserves.

 

 

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4 hours ago, Jaygo said:

 

US dollar USD 1460,000
Euro EUR 1789.814
Pound sterling GBP 1975.818
Canadian dollar CAD 1142.857
Swiss franc S.FR 1653.454
Swedish krona SEK 176.723
Norwegian krone NOK 170.195
Danish krone DKK 240.591
Japanese yen JPY 14.140
Chinese Yuan CNY 223.173
Australian dollar AUD 1108.724
Special drawing rights SDR 2108.196
Gold for 24-ounce Gold 2725637.500

xe.com is also showing 1190......but ask me in a few days when i transfer over more cash

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