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A year after the decision..a report discussing what to reduce the value of the Iraqi dinar and what it should be


yota691
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2 hours ago, Laid Back said:

My question is:

If they are not planning to increase the dinar exchange rate in the near future, why you can entry and exit the country with $10,000 but you can entry and exit the country with only 1 million dinar.

 

I would like to hear you guys opinión on this.

I am thinking that only leaving the country with only 1 million dinar is to try to keep the dinar in country.  I remember when I was going home from iraq for a R&R back in 2005 we were only able to take 1 million home with us.  I was a little nervous because I had 2 million on me on that trip. 

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2 minutes ago, Engine1 said:

I am thinking that only leaving the country with only 1 million dinar is to try to keep the dinar in country.  I remember when I was going home from iraq for a R&R back in 2005 we were only able to take 1 million home with us.  I was a little nervous because I had 2 million on me on that trip. 

Sounds like a good answer to me. After an RV, the dinar allowed out can always change. Especially when the low denoms are released. 

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6 hours ago, Laid Back said:

My question is:

If they are not planning to increase the dinar exchange rate in the near future, why you can entry and exit the country with $10,000 but you can entry and exit the country with only 1 million dinar.

 

I would like to hear you guys opinión on this.

You can enter pretty much any country with MORE than $10K USD. You just have to declare it. However, I wouldn't walk around the US with that much cash as the US is as corrupt as Mexico when it comes to cold hard cash. If you don't know what I am talking about, get pulled over with more than 2K in cash. The cop at their sole discretion can confiscate it and you can't do jack about it. Try getting the money back and you will spend in legal fees more than what was confiscated. And that is how they keep your cash. The cop doesn't need explicit proof of what the money is for, just their suspicion of what it will be used for. So the confiscation is subjective and US Citizens can't do a darn thing about it. No reason to walk around anymore with more than 100 cash. Billions in personal assets are confiscated every year because of this law.

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Thursday, 25 November 2021 10:37 AM

Baghdad / National News Center

Today, Thursday, the dissolved member of the House of Representatives, Nada Al-Fartousi, commented on the statements of the Minister of Finance regarding the achievement of gains as a result of raising the price of the dollar, indicating that he is sitting in an ivory tower.

Al-Fartousi said in a press statement followed by the "National News Center", "The Minister of Finance does not know anything about the situation of the Iraqi citizen, as he is sitting in an ivory tower and talking about raising the price of the dollar, which contributed to the rise in poverty rates in society and contributed to the rise in food prices, and who paid this tax is The simple citizen.

Al-Fartousi called on the Minister of Finance to "go down to the street and tour the residential neighborhoods to know what is happening in the country and what is the situation of the citizens," noting that "the price of flour has reached high levels of price hikes, in addition to the rest of the foodstuffs."

And she continued, "We gave advice to the government that if it was forced to raise the price of the dollar, it should establish cooperative markets in which all basic materials are provided to the citizen at subsidized prices, but no one responded to any proposal that would ease the citizen's difficulty of living."

And Finance Minister Ali Allawi said, earlier today, Wednesday, that the adjustment of the dollar exchange rate prevented the layoffs of thousands of employees.

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Former Deputy: The Minister of Finance does not know about the suffering of the citizen as a result of raising the exchange rate of the dollar

http://aliraqnews.com/wp-content/uploads/2021/11/%D8%AA%D9%86%D8%B2%D9%8A%D9%84-1-21.jpg
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 Baghdad / Iraq News Network - Today, Thursday, the dissolved member of the House of Representatives, Nada Al-Fartousi, commented on the statements of the Minister of Finance regarding the achievement of gains as a result of raising the price of the dollar, indicating that he is sitting in an ivory tower. The Iraqi citizen is something because he is sitting in an ivory tower and talking about raising the price of the dollar, which contributed to the rise in poverty rates in society and contributed to the rise in food prices, and the one who paid this tax is the simple citizen.” And what is the condition of the citizens,” noting that “the price of flour has reached high levels, as well as the rest of the foodstuffs.” No one responded to any proposal that would relieve the citizen of the difficulty of living.”And Finance Minister Ali Allawi said, earlier today, Wednesday, that the adjustment of the dollar exchange rate prevented the layoffs of thousands of employees.

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There are a lot of major events happening at the same time . There is the withdrawal of troops by foreign countries ,especially the US , the elections , the completion of the new CBI headquarters , new restrictions regarding the amount of iqd allowed out of Iraq [ I recall this happening before } , and all this chatter in Iraq about an rv/ri that supposedly will never happen . This topic appears to be top of mind in Iraq . They doth protest too much !

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25 minutes ago, dinarham said:

There are a lot of major events happening at the same time . There is the withdrawal of troops by foreign countries ,especially the US , the elections , the completion of the new CBI headquarters , new restrictions regarding the amount of iqd allowed out of Iraq [ I recall this happening before } , and all this chatter in Iraq about an rv/ri that supposedly will never happen . This topic appears to be top of mind in Iraq . They doth protest too much !

And also Kuwait being paid off at the end of this year which I think is huge!

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Thank you all who answered my question.

 

I agree with Dinarrock and Engine1,

The Central Bank issued controls related to funds entering and leaving the country, ($10k and 1 million IQD) to prevent a massive quantity of dinar leaving the country due to an event of economic consequence.

 

Happy Thanksgiving 🍁 🙏🏼

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On 11/25/2021 at 4:14 AM, ronscarpa said:

 

I would encourage everyone to read and re-read this article posted by yota. If there is indeed a rate increase I believe it will be minimal for the reasons clearly presented in this article. It definitely altered my perception of where things are and where they might be going in the near future. Don't get your hopes up on seeing a significant rate change - but, be cautiously optimistic things are moving in the right direction. We need to pray for Iraq, it's people, and its success in recovery..!

any change no matter how small is a great change but i can tell you thins it will be high enough to stop banks and insurance companies from having their companies bought on the cheap through the isx. atleast 1:1

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18 minutes ago, screwball said:

any change no matter how small is a great change but i can tell you thins it will be high enough to stop banks and insurance companies from having their companies bought on the cheap through the isx. atleast 1:1

Yep I still feel it could be between $.50-$1.00. Enough for me to get a nice start

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7 hours ago, Laid Back said:

Thank you all who answered my question.

 

I agree with Dinarrock and Engine1,

The Central Bank issued controls related to funds entering and leaving the country, ($10k and 1 million IQD) to prevent a massive quantity of dinar leaving the country due to an event of economic consequence.

 

Happy Thanksgiving 🍁 🙏🏼

How does all the IQD privately held around the world factor in to the above?

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Cougar: The government is not ready to change the dollar exchange rate... and the reason?
  
{Economic: Al Furat News} A member of the Finance Committee in the former parliament, Jamal Kougar, said that the government is not ready to change the exchange rate of the dollar against the dinar.

Cougar told {Euphrates News}, "The consequences of changing the currency exchange in the country require a professional evaluation. It is not in the citizen's interest to change the exchange rate, and it is not in the government's interest to increase the poverty line."
He stressed that "the government today is not ready for change because the operating budget takes the majority of the allocations, and today it is increasing."
He pointed out that "the government has not implemented major reforms. We can say that it has achieved the equivalent of the price of change."
And Finance Minister Ali Allawi said in a statement yesterday that "the international community supported the exchange rate adjustment," noting that "the change in the exchange rate prevented the layoffs of thousands of employees."
He pointed out that "the change in the exchange rate helped protect the reserves of the Central Bank and provided job opportunities in the market," stressing that "the reassessment of the value of the dinar will have an opposite effect," noting that "the positive effects of the currency adjustment began to appear."

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2 hours ago, yota691 said:

Come on iraq, whom are you trying to fool? The government said " NOT READY ", yeah yeah yeah and then, suddenly BOOM BOOM RV SURPRISES dinar investors. I prefer keep a close attention to what he does, not what he says because CBI won't announce the date and the rate ahead of time because it is supposed to be a secret.

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