ronscarpa Posted March 20 Report Share Posted March 20 (edited) REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt .... RON Pimpy Article: "Iraq Must Not Squander Another Opportunity to Rebuild" It's the 20th anniversary of our attack on Iraq...20 years since the start of the war, since Iraq has been "liberated"...I like to believe this time around things are going to be different. I'm not happy about what happened with Sadr bailing out and allowing the coordinated framework to be there but so far the coordinated framework appeared to be doing all the right things. Let's hope they stay down that path - not for their own sake but for the sake of the Iraqi people... Frank26 It is my opinion you will see an exchange rate about a week before April 1st. Why would I have have such an opinion? You don't have the budget. You don't have the exchange rate. But once you have the exchange rate you can have anything you want in that budget. Do you have the budget? No. Did they tell you it's coming? Yes. For 3 years. Did they give you the rate for the budget? No. Militia Man They spent somewhere around $49,429,000 in 2018...on currency issuance. That would be for the new small category notes and potentially the fils, which are coins...March 17th there was the article that came out about the coins. It also spoke about the deletion of the zeros. Those 2 things go hand in hand. Article Quote: "the central bank is the only one responsible for supplying the currency, bank notes and coins to the country of Iraq." That's the central bank's job. They did that in 2018...we know they did issue currency to the tune of about just under $50 million worth and they did it for a reason. [Post 1 of 2] Militia Man Article Quote: 'The finance committee and the Iraqi parliament calls on the central bank to reintroduce the metal currency.' This was on the 17th - reintroduce metal currency. Why would you reintroduce metal currency if in fact you're going to come out as they state in the budget - 1300? Sounds to me from what we've read in the article...they have a caveat that they can amend the budget at any time... Quote: "small coins facilitate many daily banking transactions as the use of metal denominations and their circulation will give currency a legal value." So not only do they have value but it's legal..[Post 2 of 2] MarkZ It is looking like a great week. They are being forced into a corner where they don’t have a choice. One of the...big pieces of news coming out of Iraq is about coins and how they will be “immediately“ usable. The first story broke late Thursday into Friday. Then rumors and more confirmations over the weekend... Currently the 50 Dinar note is only worth .4 cents or so. A coin is only worth a fraction of a single dinar. This would make no sense. But we have had some clear indicators out of Iraq that 1. The rate in the budget is now changeable. And, 2. Coins can be used immediately to support the lower denominations. This is really important. Denominations of their coins is similar to our coins in Iraq...them being able to use coins is huge. Edited March 20 by ronscarpa 1 5 1 1 Quote Link to comment Share on other sites More sharing options...
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