Car showroom owners complain about the decision to deal with Iraqi dinars

[screwball]

5 hours ago, NMP2017 said:

WOW! this would even give Warka enough to give clients our money back! WOOHOO! 😁

i hope so but no hanging onto warka....i believe its lost and if at appears when I will be much richer, although small drop in the ocean

[screwball]

7 hours ago, Officiallytook said:

Or a bank card 😏

 

But yeah I would take 25k note day one...and if nothing happens in a week or two I'm taking the rest and diversifying into a few things, and clear up some debt...and then wait again lol

how true...wheelbarrow thats what they did in Germany....😂

[haymon]

I want to get enough to fly to Iraq and go into warka and make a withdraw....

[keylime]

13 hours ago, 3n1 said:

 

yup i l was looking at a popular currency exchange online they are paying 600 bucks per million buy back .. ouch

I think the more they dedollarize the more demand for the Dinar, hence, the value will go up inside and outside Iraq even without the RV

[unirod]

On 4/19/2023 at 5:27 AM, rvmydinar said:

NOW?? Does " NOW " mean " RIGHT NOW "??? Has The rate still been 1,310 at the cbi site NOW?

1.) Just wonder , Which site that shows USD 1= 1.5 Dinar NOW ( That means 1 dinar= 0.67 USD )??

2.) Which Dinars are they talking about? Kuwaiti Dinar ( 1 KWD=3.2 USD )?

Exactly! 1.50 dinars in comparison to what currency?

[3n1]

4 hours ago, keylime said:

I think the more they dedollarize the more demand for the Dinar, hence, the value will go up inside and outside Iraq even without the RV

 

yup the demand will rise but until the cbi changes the iqd to the level it should be or at least on par to the usd the iqd you hold will only be worth the exchange rate value it is set on , maybe iraqs iqd black market will raise the iqd value but the bank value of the currency is still worth the cbi exchange value  strictly my opinion ... cheers keylime 

[wealthhound]

On 4/19/2023 at 2:20 PM, pokerplayer said:

You go gurl friend,  you and me both  !!

 

  pp

I'm with you chicks!

[keylime]

3 hours ago, 3n1 said:

 

yup the demand will rise but until the cbi changes the iqd to the level it should be or at least on par to the usd the iqd you hold will only be worth the exchange rate value it is set on , maybe iraqs iqd black market will raise the iqd value but the bank value of the currency is still worth the cbi exchange value  strictly my opinion ... cheers keylime 

I mean the resale value of the Dinar from dealers in the US. The harder to get the more they will sell it for or buy it back. You might start to see 1 million Dinar sell for 1600-1800 or more and buy it back for 1200 or so. Even now some sell a million for 1500. That's a lot more than I paid when I first bought it.

[rvmydinar]

19 hours ago, unirod said:

 1.50 dinars in comparison to what currency?

[rvmydinar]

14 hours ago, keylime said:

I mean the resale value of the Dinar from dealers in the US. The harder to get the more they will sell it for or buy it back. You might start to see 1 million Dinar sell for 1600-1800 or more and buy it back for 1200 or so. Even now some sell a million for 1500. That's a lot more than I paid when I first bought it.

Oh no no no I never want to cash out at 1,800. That's the worst rate I've ever seen. If the rate is from 10 cents to a buck , then I will cash them out.

[keylime]

1 minute ago, rvmydinar said:

Oh no no no I never want to cash out at 1,800. That's the worst rate I've ever seen. If the rate is from 10 cents to a buck , then I will cash them out.

LOL!  I didn't say cash out at that rate. I was answering the fact that the Dinar since I have gotten into has risen in value even with no RV. And now that Iraq is dedollarizing it will continue to rise particularly here in the states with currency dealers because it will be harder to get ahold of.  But I wouldn't sell my dinar until it revalues and even then I will watch the rate for the best deal possible.

[rvmydinar]

9 minutes ago, keylime said:

LOL!  I didn't say cash out at that rate. I was answering the fact that the Dinar since I have gotten into has risen in value even with no RV. And now that Iraq is dedollarizing it will continue to rise particularly here in the states with currency dealers because it will be harder to get ahold of.  But I wouldn't sell my dinar until it revalues and even then I will watch the rate for the best deal possible.

I am glad you said that. Thanks for your clarification.

[6ly410]

 

Car showroom owners complain about the decision to deal with Iraqi dinars

 

 

Commercial activity in car buying and selling exhibitions in Baghdad was paralyzed after security authorities imposed the sale in Iraqi dinars and not dealing in dollars. Haj Fadel has been trading cars for more than three decades talking about the weakness of the market movement after the decision, and there are other obstacles suffered by exhibition owners.

 

Fadel Al-Janabi, the owner of a car trade showroom, told Rudaw Media Network, Monday (May 22, 2023), that "the market situation is basically weak and this decision has increased the burden on it, so it has become worse, and there is no movement in it, as the decision affected the customer and us as well," adding, "But the harm to us is more and the reason is because we import cars from outside Iraq in dollars and does not agree to deal with Iraqi dinars, in this case, how will we deal?"

 

The owner of the car trade showroom, Khazal al-Maksousi, told Rudaw Media Network that his car "is forbidden to be sold in dollars," adding, "If I violate, I will be arrested by National Security."

 

He added: "The customer crosses the street, to spend the dollar in his possession in banks that do not deal according to the Central Bank rate of 1320 dinars to the dollar, but the dollar is calculated at 1470 dinars per dollar, why not be held accountable?"

 

The Directorate of Organized Crime of the Ministry of Interior launched several campaigns in various cities, called "the dinar is the cause of the homeland", where written pledges were taken obliging traders to deal in Iraqi dinars only, and whoever violates these instructions will be imprisoned with the closure of those exhibitions and companies.

 

Brigadier General Hussein Ali al-Tamimi, director of operations at the Anti-Crime Directorate, told Rudaw Media Network that the campaign "will continue next week, and intensively, as the campaign covered more than 75% of car showrooms in Baghdad and the provinces last week."

 

"The inspection tours resulted in pledges from 2685,<> commercial centres and car showrooms, as well as residential complexes in Baghdad and the provinces," he said.

 

The Iraqi government plans to control the dollar and enable the value of the Iraqi dinar by expanding its commercial uses, in addition to preventing the smuggling or storage of dollars abroad and price manipulation.

 

Despite the Iraqi government's decisions to preserve the value of the Iraqi dinar against the US dollar, they did not bring enough results, as the price of the dollar in the markets still records 1460 dinars against each dollar.

 

 

[chris2028]

Yes!!! I was waiting to see how long it took before the car dealers would start complaining. When they banned them from accepting USD at the car dealers back in April I knew it would only be a matter of time. I had a car restoration company and we sold many cars overseas.  That difference in exchange rate would make a huge difference. There is no way they can keep this value as it is currently. These company's will fail fast. I see this as more great signs that change in value is Imminent! GO RV/RI 

[Officiallytook]

Exactly I mean and pointing light on those still operating outside the cbi payment systems they dispersed awhile ago...or going to... What ever just increase the rate and watch all your current issues go away lol and turn into another beast of its own..but that's latter after a rate change...so let's go!!!!

[haymon]

When has payment ever stopped a car salesman.....

[new york kevin]

Well then use Iraq's digital IQD to purchase cars ! That will work. Iraq must vastly increase the velocity, the use, of the IQD if the citizens of Iraq are to increase their purchasing power. Besides, no domestic economy is "stable" if it has competition within its borders with another countries currency. Growing pains my friends.

[boosterbglee]

1 to 1 exchange and I'll buy a car!!!!

[horsesoldier]

Paralyzed... pretty much describes Iraq in its entirety doesn't it.

[Officiallytook]

1 hour ago, boosterbglee said:

1 to 1 exchange and I'll buy a car!!!!

1-1 I'm just cashing out enough for debt and to set up the rest when ever it hits 3$

[screwball]

38 minutes ago, Officiallytook said:

1-1 I'm just cashing out enough for debt and to set up the rest when ever it hits 3$

yep only cash out what you need to cash out and save the rest for a rainy day

[screwball]

sounds like its building to a crecsendo! maybe a June one!

[3n1]

4 hours ago, new york kevin said:

Well then use Iraq's digital IQD

 

my thoughts exactly NYK , most large purchases people never handle cash anymore its simply transferred digitally unless were talking about the corner tote the note 100 bucks down used car lot  .... letsroll iraq  

[screwball]

15 hours ago, 6ly410 said:

But the harm to us is more and the reason is because we import cars from outside Iraq in dollars and does not agree to deal with Iraqi dinars, in this case, how will we deal?"

Yep bet when rate is 3.22 or whatever they will take dinars 

[screwball]

Need to create demons for dinars only rate change at greater then 1:1