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The Prime Minister: The increase in the foreign reserves of the Iraqi Central Bank to 60 billion dollars


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20 hours ago, GreedyDinar07 said:

Same ole talk, talk, talk. I think the dates that the so-called gurus predicted for the dinar to RV has expired and we are back where we were 5 months ago. No talk of the HCL being passed but there is talk of the exchange rate staying at 1450 for a "long time" and I am starting to believe these clowns. I know they are suppose to move to a floating exchange rate but the question is how long will that take? They have signed countless MOU's and some kind of way the Port, the power grid and the New CBI Building is under construction with a NO RV!! If they can continue at 1450 while rebuilding their economy, I have a feeling that they are not in a hurry to increase the exchange rate. My hope has turned into anger because I feel like I have been made an ass of again. I don't think the CBI is blowing smoke up our a$$es about keeping the rate at 1450 because some kind of way they are doing it. You can call me negative if you want but I have been right so far every since they devalued the exchange rate to 1450. If the exchange rate doesn't increase sometime this year or the beginning of next year we are in this insanity for another long wait. The same thing with the Vietnamese Dong...NOTHING!! Where is the big currency reset??? SMH!! 

image.jpeg.48162ddb7f2dd02cacd1873a5d0f3db5.jpeg

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9 hours ago, yota691 said:

Economist: Increasing the central bank reserves has nothing to do with lowering the price of the dinar


 

12/4/2021 18:27:00

 
 
2826151242021_3456.jpg       
Economist: Increasing the central bank reserves has nothing to do with lowering the price of the dinar

 

Economic expert Dr. Hammam Al-Shamaa emphasized that increasing the Central Bank's reserves has nothing to do with the reform policy undertaken by the federal government nor with the reduction of the national currency's rate against the US dollar. 

Al-Shammaa said in a special statement to PUKmedia , on Monday 12/4/2021, that the increase in the Central Bank's currency reserves, which was announced by Federal Prime Minister Mustafa Al-Kazemi, is due to the turmoil that occurred in the markets as a result of raising the price of the dollar and reducing the value of the dinar, which made the market stop On the one hand, on the one hand, government revenues rose as a result of high oil prices, and thus the central bank’s reserves increased.

Al-Shamaa added that the reserve of the Central Bank is to cover Iraq's imports from abroad and makes the countries of the world trust the credits opened by Iraqi banks, stressing that the size of the reserves has no limits, but there are minimum limits that if reduced from them, this would be a risk, as they must cover the value of 6 months of Iraq's foreign imports.

Al-Shamaa stressed that Iraq has sufficient reserves to cover 100% of the value of its foreign imports. 

The Prime Minister, Mustafa Al-Kazemi, announced yesterday, Sunday, that the Central Bank’s foreign currency reserves rose to more than 60 billion dollars, after it was 51.9 billion before the initiation of reform measures for this government.

 

PUKmedia / Ultra Yazdi

Of course it has to do with the removal of zeros 

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37 minutes ago, DoD said:

Laid Back, it appears you’ve gone over to the pizza boys mind set. If your name wasn’t on this post I would have known it was from Kaperoni for sure. 
He has called it just as you mentioned an has always said no such thing as an RV. 
I will give it a few more months before I concede to this thinking but y’all could be 100% correct...

Customs automation is done was back in 2013 according to al kazemi cbi and auction corruption in progress and on track so what else? I say we are primed to go!

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On 4/11/2021 at 7:35 PM, yota691 said:

The Prime Minister: The increase in the foreign reserves of the Iraqi Central Bank to 60 billion dollars

2018 (plan to remove zeros)

Central Bank, Ali Al-Allaq - " the central bank has a very comfortable foreign currency reserve, approaching 60 billion dollars, compared to 43 trillion dinars, which means that it covers 170 percent of the monetary mass"

LINK

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1 minute ago, DWS112 said:

2018 (plan to remove zeros)

Central Bank, Ali Al-Allaq - " the central bank has a very comfortable foreign currency reserve, approaching 60 billion dollars, compared to 43 trillion dinars, which means that it covers 170 percent of the monetary mass"

LINK

Pow 💥 

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35 minutes ago, DWS112 said:

2018 (plan to remove zeros)

Central Bank, Ali Al-Allaq - " the central bank has a very comfortable foreign currency reserve, approaching 60 billion dollars, compared to 43 trillion dinars, which means that it covers 170 percent of the monetary mass"

LINK

What would the relevance of this be if they were not going to increase the value??

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On 4/13/2021 at 7:39 AM, screwball said:

Of course it has to do with the removal of zeros 

       The economist 's statement that the federal reserves has nothing to do with lowering the price of dinar is typical of the absolute nonsense we need to wade through . Hang tough ,you crazy diamonds .

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4 hours ago, dinarham said:

       The economist 's statement that the federal reserves has nothing to do with lowering the price of dinar is typical of the absolute nonsense we need to wade through . Hang tough ,you crazy diamonds .

Yes it’s about backing there currency like with gold and silver that’s why the need to step away using the usd in country which they have stated will de and use the dinar in country 

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Huge usd reserves and using usd to pay contractors as sone say will destroy it within a year, they will back their dinar which will be used in country with oil gold and cash reserves of usd. Rate has to change and dinar must be used in country as Al kazemi says with increase in purchasing power 

Edited by screwball
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Don't forget that Iraq has only 40,000.000 population  ,and $60,000 ,000 000 in foreign reserves . It is slightly more than half the size of Texas . Relatively speaking , Iraq could be the richest country in the world  .

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6 hours ago, screwball said:

Waiting on one reading

It more then that..According to the Constitution..The Federal Courts have to amend the wording to the Constitution...I maybe wrong, from the articles the Wealth is for all Iraq, which includes the Center and the Region and all Nationality.     

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