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CURRENT IRAQI DINAR PEG WILL CONTINUE FOR NEXT FOUR YEARS: OFFICIAL


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Anyone seen this statement ? What you think ? Smoke and Mirrors.?

CURRENT IRAQI DINAR PEG WILL CONTINUE FOR NEXT FOUR YEARS: OFFICIAL

2432021205462232021115315213202123734412
A file photo shows Iraqi dinars and US dollars in a bank
22 Hours ago

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SULAIMANI —Director of the Department of Financial Operations and Debt Management of Iraq's Central Bank Mahmud Dagher said on Wednesday (March 24) that the price of the US dollar against Iraqi dinar will be fixed at the current price for the next four years.

During an appearance in NRT's Tawtwe interview program, Dagher said that the Council of Representatives does not have the authority to make changes in the price of US dollar.

$ 100 was at 144,750 Iraqi dinars as of Wednesday evening.

The devaluation of dinar, which was included in the Federal Government draft 2021 budget, was designed to preserve Iraq's dollar reserves and allow the government to spend more Iraqi dinars.

The move however made imports and goods originally priced in other currencies, like hydrocarbons, more expensive.

On Sunday, Governor of the Central Bank of Iraq Mustafa Ghalib said that the devaluation of the Iraqi dinar this winter enhanced the country's financial sustainability because the move increased country's foreign currency reserves and strengthened its public finances.

(NRT Digital Media)

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3 hours ago, Slave2Spartacus said:

Anyone seen this statement ? What you think ? Smoke and Mirrors.?

CURRENT IRAQI DINAR PEG WILL CONTINUE FOR NEXT FOUR YEARS: OFFICIAL

2432021205462232021115315213202123734412
A file photo shows Iraqi dinars and US dollars in a bank

22 Hours ago

771 View


 

SULAIMANI —Director of the Department of Financial Operations and Debt Management of Iraq's Central Bank Mahmud Dagher said on Wednesday (March 24) that the price of the US dollar against Iraqi dinar will be fixed at the current price for the next four years.

During an appearance in NRT's Tawtwe interview program, Dagher said that the Council of Representatives does not have the authority to make changes in the price of US dollar.

$ 100 was at 144,750 Iraqi dinars as of Wednesday evening.

The devaluation of dinar, which was included in the Federal Government draft 2021 budget, was designed to preserve Iraq's dollar reserves and allow the government to spend more Iraqi dinars.

The move however made imports and goods originally priced in other currencies, like hydrocarbons, more expensive.

On Sunday, Governor of the Central Bank of Iraq Mustafa Ghalib said that the devaluation of the Iraqi dinar this winter enhanced the country's financial sustainability because the move increased country's foreign currency reserves and strengthened its public finances.

(NRT Digital Media)

I believe it’s smoke, but you’re talking to a guy that hoped it would RV every weekend since at least 2010 😂..... what do I know? And I have no contacts at the CBI 🤦🏼‍♂️
 

I can tell the difference between a camel and a mountain goat 🐐 though.... I do believe we’re close 

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33 minutes ago, NEPatriotsFan1 said:

I believe it’s smoke, but you’re talking to a guy that hoped it would RV every weekend since at least 2010 😂..... what do I know? And I have no contacts at the CBI 🤦🏼‍♂️
 

I can tell the difference between a camel and a mountain goat 🐐 though.... I do believe we’re close 

Only on the weekends? I was hoping that everyday since at least 2008 or earlier. Well, here's to still hoping. HA!

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7 minutes ago, horsesoldier said:

Keep the IQD pegged for 4 years at 1450-delay the 2021 Budget & the Reforms-Continue to stonewall on the HCL = Round 2 of and even bloodier “ October protest “

.... but the citizens won’t wait ‘til October 

Seriously? The citizens have been waiting for YEARS!! They can protest all day like they have done in the past and still nothing happens. The government will do what they want whenever they want. Nothing anyone can do about it. 

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1 minute ago, keylime said:

Only on the weekends? I was hoping that everyday since at least 2008 or earlier. Well, here's to still hoping. HA!

I still hope you’re wrong about August, March or April suits me better ;)

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Just now, NEPatriotsFan1 said:

I still hope you’re wrong about August, March or April suits me better ;)

I hope we don't have to wait til then, but if push comes to August...I'll be ecstatic to take it.  LOL!

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7 minutes ago, rvmydinar said:

4 years means 2025? I don't believe the article that wasn't written directly by the cbi itself.

“Is it real or is it Memorex?”  Shi#... I can’t see it either....damn Foster Grants are all fogged up! 

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1 hour ago, rvmydinar said:

Is it a fake news? Or is it just someone opinion? I wonder what would greedy dinar 07 think about this article? 

 

1) Is it a fake news? The link posted appears to be a legit news source.

2) Is it just someone opinion? He's the Director of Financial Operations of the CBI so we will assume he knows of what he speaks. You can read through the CBI's rule book to check for authenticity

3) I wonder what would greedy dinar 07 think about this article? You could private message him to find out

 

Hope I have answered your questions. Please continue to expand your search for the real truth behind this Dinar circus. 

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1 minute ago, DoD said:

 

1) Is it a fake news? The link posted appears to be a legit news source.

2) Is it just someone opinion? He's the Director of Financial Operations of the CBI so we will assume he knows of what he speaks. You can read through the CBI's rule book to check for authenticity

3) I wonder what would greedy dinar 07 think about this article? You could private message him to find out

 

Hope I have answered your questions. Please continue to expand your search for the real truth behind this Dinar circus. 

Thanks for your clarification.

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13 minutes ago, Retiredofficer said:

“Is it real or is it Memorex?”  Shi#... I can’t see it either....damn Foster Grants are all fogged up! 

According to what DoD said that the source of this news article was legit and the director of financial operations of cbi said that. Sad but true?

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11 minutes ago, DoD said:

1) Is it a fake news? The link posted appears to be a legit news source.

2) Is it just someone opinion? He's the Director of Financial Operations of the CBI so we will assume he knows of what he speaks. You can read through the CBI's rule book to check for authenticity

Sad but true.

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1 hour ago, Jaygo said:

Seriously? The citizens have been waiting for YEARS!! They can protest all day like they have done in the past and still nothing happens. The government will do what they want whenever they want. Nothing anyone can do about it. 


Lighten up Francis....it wasn’t a statement of fact just an observation of a one of many possible outcomes. Change your Oats.... you’re Colicky.

We’re done here

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In another article Dahger stated that the CBI only has the authority to adjust the  exchange rate EXCLUSIVELY and any talk from the GOI about negotiating the exchange rate through the budget is BS. This same guy said members of the GOI are doing this because their is an election coming up. He encouraged the GOI to pass the budget and said that the exchange rate will be reduced again to 1500 after the budget is passed. He also stated that "Iraqi's who have the US Dollar to keep them and for the citizens who have Iraq Dinar to trade them in for US Dollar". The question is , why are they trying to take the dinar out of the citizens hand and why would the CBI want a worthless currency returned to them? Now he is stating that the exchange rate will remain at 1450 for four years and in another article he said it will be reduced to 1500. Which one is it?? Safe Dinar is on back order for the third day in a row. If they are trying to get the private sector to invest in their economy and create millions of jobs for the citizens, why would you continue to  pay them in worthless currency? It still doesn't add up but my guess is they are pulling in the dinar from the citizens before they increase the exchange rate. That is my speculation. Now if this takes four years then I will be dumfounded because what is the point of passing HCL, going international, building a new Central Bank etc and having a worthless currency.........this is Iraq so who knows?? Here is the article below and let me know what you guys think:

 

The first statement from the Central Bank of Iraq to NRT regarding changing the exchange rate of the dollar

News source / NR TV

The Central Bank of Iraq announced, on Wednesday, the difficulty of making any change to the exchange rate of the dinar against the dollar, stressing that determining the exchange rate of currencies is the prerogative of the Central Bank exclusively.

" The decision to reduce the value of the Iraqi dinar against the US dollar was taken about 3 months ago on (December 20, 2021), and it is difficult to change this decision during this short period," said Mahmoud Dagher, director general of the Central Bank, in a special statement to NRT .

He added, "Confidence in the Iraqi dinar has been subjected to a major shock following the bank’s decision to reduce its value against the dollar, and any other decision of this kind will contribute to further undermining confidence in the Iraqi currency."

He explained, "Determining the value of the exchange rate is within the authority of the Central Bank of Iraq exclusively according to the law and the constitution, and neither the Council of Representatives, the Council of Ministers, or any other institution has this authority, and they are not entitled to issue any decision in this regard, and in the event that a decision of this type is issued by Parliament." He will meet with a case filed by the Central Bank, and the Federal Court will support us. ”

He continued, "Iraq is on the verge of an election season, and the statements issued regarding changing the exchange rate of the dollar against the Iraqi dinar are merely electoral propaganda, because Parliament does not have this authority in the first place."

And, "the statements of parliamentarians and politicians in this regard generated confusion and a state of instability in the local markets, calling on the House of Representatives to approve the draft budget law as soon as possible."

He pointed out that "after approving the budget, there is a possibility of a further rise in the exchange rate of the dollar against the dinar and may reach 1500 dinars, but overall, the lowest price for the exchange of the dollar against the Iraqi dinar will be 1460 dinars."

On his advice to citizens about buying the dollar or the Iraqi dinar at this time, Dagher explained, "The citizens who have a surplus of the dollar should keep it, and those who own a surplus of the Iraqi dinar should exchange it for the dollar, because the dollar exchange rate will witness another rise after the budget is approved

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Posted 8 hours ago
News source / NR TV
2432021205113%D8%B9%D8%A7%D8%AC%D9%84-81
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So are we to believe that GE, Siemens, and40 other companies......Plus don't forget they just awarded Deawoo to contract to build the Grand Port of Faw......these folks are go to do the rebuilding of Iraq and hold off on payment another 4 years......I don't think so.

 

Also not to forget Iraq has Plans of becoming the central Hub for all of the Middle East, hence the huge Shipping Port.

 

In 4 more years they will look like an other City in America run into the ground by Democrat Corruption...Dead Broke, a Cesspool of Corruption and a Waste Land.

 

just my thinking

 

Karsten

Edited by Karsten
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