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The Iraqi Currency Is Strong.


Luigi1
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Here's an article from Dinarland...

FM Hussein...the Iraqi currency is strong.

Treat as a rumor.  Not verified.  Your opine.

 

From Other Sources:   Foreign Minister:   The Iraqi Currency Is Strong And The Dollar Crisis Is On Its Way To A Solution.
ARTICLE:  Money & business:  Economy, Monday, Foreign Minister Fuad Hussein confirmed that the Iraqi currency is strong, while indicating that the Dollar crisis is on its way to a solution.    Foreign Minister Fuad Hussein said during a press conference that “the Iraqi delegation that visited Washington consisted of different sectors,” noting that “the purpose of the visit to Washington was related to the economic sector.”


 

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here's another article related to the above...OK who's lying?   IQD is in trouble, again.  GOI says they have a handle on the Dinar crisis, yet this article suggests nothing is working to stop the IQD slide...the IQD crisis is back...

 

Bondlady's Corner  via TLM724:  The exchange rates of the dollar against the dinar in the local markets for today, Sunday.  

ARTICLE:  Selling price: 150,000 dinars per 100 dollars     Buying price: 149,500 dinars per 100 dollars.

 

From another source:   Trade Launches A Monitoring Campaign To Check The Local Market Prices.

ARTICLE:  The Minister of Commerce, Atheer Al-Ghurairy, said in a statement received by a news agency, that “the oversight teams affiliated with the Ministry of Commerce, which represent the departments & companies of the ministry, began a large control campaign in conjunction with the preparation of a new meal from the items of the food basket.”

 

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here's another article related to the above...the new ER rate change stops the Budget from moving forward....

 

 

TNT  via Tishwash: 

ARTICLE:  Parliamentary Finance Attributes The Delay In Sending The Budget To Parliament To Changing The Exchange Rate Of The Dollar.

Today, Monday, the Parliamentary Finance Committee attributed the delay in the 2023 budget at the government discussion table to changing the exchange rate of the dollar.   The head of the committee, Atwan Al-Atwani, said in an interview with a official newspaper, “Al-Sabah”, which was followed up by another news network, that “the budget is still under study by the government & it is certain that a re-evaluation of it will be carried out in light of the reduction in the exchange rate of the dollar.”   He added, “The exchange rate was set by the government at 1,300 & therefore there will be a re-review after the funding gap,” noting that “the budget deficit grows whenever the exchange rate decreases, so the government is working today to set an acceptable deficit ratio that can be dealt with.”

 

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12 hours ago, cutter73 said:

Make it 1.31 and I'm outta here!  😁:praying:

 

In My Opinion, the CBI needs to come out at a significant rate. At 1310 IQD/USD the rate is $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 cents) - in my mind that would be a minimum start. Then let it float to $1, then upwards over time. This makes sense to me. What do you all think..?? :tiphat:RON  

 

The big question is, will the IMF permit it..? I'm hoping so...! RON

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I agree Ron.

With all the positive stats on Iraq's reserves and oil production etc., they would be knuckleheads to come out at a lower rate that attracts swarms of investors. There is a rate at which the average Joe will not invest, even if there is a possible 300% gain to be had. A 3,000% gain though, will get Joe off the fence and into the IQD stream. They will come out as strong as they can, and float to market I.M.O.

 

The IMF will back an asset-supported revaluation, even as a sign to the world of a shakeup that is inevitable, especially with BRICS in play.

 

As always Ron, thanks for your tireless efforts!!! 

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1 minute ago, ATHIM said:

I agree Ron.

With all the positive stats on Iraq's reserves and oil production etc., they would be knuckleheads to come out at a lower rate that attracts swarms of investors. There is a rate at which the average Joe will not invest, even if there is a possible 300% gain to be had. A 3,000% gain though, will get Joe off the fence and into the IQD stream. They will come out as strong as they can, and float to market I.M.O.

 

The IMF will back an asset-supported revaluation, even as a sign to the world of a shakeup that is inevitable, especially with BRICS in play.

 

As always Ron, thanks for your tireless efforts!!! 

well said...correct

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58 minutes ago, Longtimelurker said:

Did Kim Clement say "There will be a run on the Dinars"? (Might have been someone else)

to be honest if it comes at 1:1 wouldn't you think long term it would go higher??? so yes this would be correct unless they reinstate to 1970's rate as suggested in transitional plan for new monetary policy for Iraq?? sitting digital dinars in a foreign currency account would make your money in the long term at 1:1...

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11 hours ago, ronscarpa said:

In My Opinion, the CBI needs to come out at a significant rate. At 1310 IQD/USD the rate is $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 cents) - in my mind that would be a minimum start. Then let it float to $1, then upwards over time. This makes sense to me. What do you all think..??

 

11 hours ago, ATHIM said:

they would be knuckleheads to come out at a lower rate that attracts swarms of investors. There is a rate at which the average Joe will not invest, even if there is a possible 300% gain to be had. A 3,000% gain though, will get Joe off the fence and into the IQD stream. They will come out as strong as they can, and float to market I.M.O.

I agree with both of you and this definitely makes sense to me. If this baby pops at 76 cents , I will definitely cash out and don't want to hear anything about iraq forever.

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12 hours ago, ronscarpa said:

 

In My Opinion, the CBI needs to come out at a significant rate. At 1310 IQD/USD the rate is $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 cents) - in my mind that would be a minimum start. Then let it float to $1, then upwards over time. This makes sense to me. What do you all think..?? :tiphat:RON  

 

The big question is, will the IMF permit it..? I'm hoping so...! RON

@ronscarpaI get what you're saying and understand.  I also remember they used to say they wanted equal or a little higher than US dollar...wishful thinking is all. 😉

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9 hours ago, screwball said:

to be honest if it comes at 1:1 wouldn't you think long term it would go higher??? so yes this would be correct unless they reinstate to 1970's rate as suggested in transitional plan for new monetary policy for Iraq?? sitting digital dinars in a foreign currency account would make your money in the long term at 1:1...

In order for there to be a run for the IQD, I'd expect it to go up in increments. Having said that, who knows what the reset will bring.. if they distribute the gold equally amongst countries it could stay at or near 1:1

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23 minutes ago, yota691 said:

Don't forget CBI (spread) makes a profit on every dinar traded. Also need to take in account a multiplier will be used. So IMO .76 cents is not the target, unless they come with out some pennies, nickels, dimes and quarter..😂

Agreed .76 is NOT their target and with all your knowledge and research Yota I would take that bet all day long!! I 100% fully believe the new rate will be $1.13-$1.17 or higher!!!

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