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HUGE: Iraq-Iran Reach A Currency Deal.

Luigi1

By Luigi1,
in Dinar Rumors

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Luigi1 Grand Master

Luigi1

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HUGE:  Here's an article of Dinaian interests...

Iraq-Iran reaches a currency deal.

Basket of currencies will be traded rather than USD.

Could this pave the way to the elusive RV-RI?

Treat as a rumor.  Not verified.  Your opine.

 

 

An Understanding Looms On The Horizon Between Iraq & Iran To Use Currencies Other Than The USD In Commercial Transactions.  

ARTICLE: The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed that there is an understanding on the horizon with Iran to use a basket of foreign currencies other than the Dollar to settle commercial transactions between Iraq & Iran.  

 

Saleh said in statements followed by Al-Masala, that allowing an international means of payment other than the Dollar & identifying trade flows in a transparent & highly governance manner with the Islamic Republic of Iran within the international trading system will undoubtedly contribute to the stability of the exchange market in Iraq, in addition to enhancing the stability of the external payments system in our country.   It leads to high stability in trade & financial movements without negative monetary impacts on our national economy.

 

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Dretown39 Mentor

Dretown39

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24 minutes ago, dinarham said:

 Iranian rial is 10 times more worthless than IQD , just add another zero to the right of the decimal point . According to forex , the IQD is not pegged with any other currency  , which is unusual.

Yeah & I believe that's why the CBI Governor Alaq said weeks ago they can't float the dinar because it's not backed by othe foreign currencies. As a result they will have to do a major revaluation of the dinar..which is good for them & us outside investors.

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Luigi1 Grand Master

Luigi1

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1 hour ago, Dretown39 said:

Yeah & I believe that's why the CBI Governor Alaq said weeks ago they can't float the dinar because it's not backed by othe foreign currencies. As a result they will have to do a major revaluation of the dinar..which is good for them & us outside investors.

 

Your right. 

Hopefully that will all change as IQD will soon be backed by a basket of currencies which will be good for all us investors.

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Luigi1 Grand Master

Luigi1

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On 9/15/2023 at 10:30 AM, dinarham said:

 Iranian rial is 10 times more worthless than IQD , just add another zero to the right of the decimal point . According to forex , the IQD is not pegged with any other currency  , which is unusual.

 

This is good news if you hold Iran Rial.

In order for this basket swap to work between both nations, Iran must RV at close to the same rate the IQD comes out at.

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pokerplayer Grand Master

pokerplayer

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1 minute ago, Luigi1 said:

 

This is good news if you hold Iran Rial.

In order for this basket swap to work between both nations, Iran must RV at close to the same rate the IQD comes out at.

 

I have quite a bit of Riel's but i don't see the connection Luigi ? Not saying your right or wrong, just that I don't understand your comment. Can you elaborate a little please ?

 

   pp

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Luigi1 Grand Master

Luigi1

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7 hours ago, pokerplayer said:

 

I have quite a bit of Riel's but i don't see the connection Luigi ? Not saying your right or wrong, just that I don't understand your comment. Can you elaborate a little please ?

 

   pp

 

Iraq & Iran agreed in principle about two years ago to RV their currencies at the same time.  Their economies, history & cultures are so intertwined, they would have to go together.  There is no evidence or proof they will go together & RV at or near the same rate.

 

There are older articles, not Guru rumors, of some other nations being added to the 1st basket of currencies.  Those currencies added to the1st basket are the Iran Rial, SK Won & Philippine Peso.  I also heard Argentina; India, Egypt & South Africa may also be added.

 

The 1st basket includes Iraq, Viet Nam, Zimbabwe, Indonesia & Malasia.   If iI recall, but my memory is not like it used to be so Google & research, yourself.

 

Most people confuse the Indian Rupee with the Indonesian Rupia.  Totally different countries & currencies.   

 

I hope this clarifies your question.  IMHO.

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Luigi1 Grand Master

Luigi1

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1 minute ago, Luigi1 said:

 

Iraq & Iran agreed in principle about two years ago to RV their currencies at the same time.  Their economies, history & cultures are so intertwined, they would have to go together.  There is no evidence or proof they will go together & RV at or near the same rate.

 

There are older articles, not Guru rumors, of some other nations being added to the 1st basket of currencies.  Those currencies added to the1st basket are the Iran Rial, SK Won & Philippine Peso.  I also heard Argentina; India, Egypt & South Africa may also be added.

 

The 1st basket includes Iraq, Viet Nam, Zimbabwe, Indonesia & Malasia.   If iI recall, but my memory is not like it used to be so Google & research, yourself.

 

Most people confuse the Indian Rupee with the Indonesian Rupia.  Totally different countries & currencies.   

 

I hope this clarifies your question.  IMHO.

 

May I also add...

The agreement between the US, Iraq & Iran over using a basket of currencies instead of the USD says a lot.

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pokerplayer Grand Master

pokerplayer

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17 minutes ago, Luigi1 said:

 

Iraq & Iran agreed in principle about two years ago to RV their currencies at the same time.  Their economies, history & cultures are so intertwined, they would have to go together.  There is no evidence or proof they will go together & RV at or near the same rate.

 

There are older articles, not Guru rumors, of some other nations being added to the 1st basket of currencies.  Those currencies added to the1st basket are the Iran Rial, SK Won & Philippine Peso.  I also heard Argentina; India, Egypt & South Africa may also be added.

 

The 1st basket includes Iraq, Viet Nam, Zimbabwe, Indonesia & Malasia.   If iI recall, but my memory is not like it used to be so Google & research, yourself.

 

Most people confuse the Indian Rupee with the Indonesian Rupia.  Totally different countries & currencies.   

 

I hope this clarifies your question.  IMHO.

Thanks Luigi1,  appreciate the breakdown explanation . If that works, then I would be doubly happy 😊 

 

pp

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screwball Grand Master

screwball

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6 hours ago, Luigi1 said:

 

May I also add...

The agreement between the US, Iraq & Iran over using a basket of currencies instead of the USD says a lot.

Exactly for years Iran and Iraq wanted to trade in currencies other than the usd, they went to war with Iraq because of Saddam wanting to sell oil for the euro and Iran wanted same…Iran has over 160 billion in forex reserves so this move is a big deal…this move is indicative of the fact that countries will be trading in their currencies…

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screwball Grand Master

screwball

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6 hours ago, Luigi1 said:

There are older articles, not Guru rumors, of some other nations being added to the 1st basket of currencies.  Those currencies added to the1st basket are the Iran Rial, SK Won & Philippine Peso.  I also heard Argentina; India, Egypt & South Africa may also be added.

 

The 1st basket includes Iraq, Viet Nam, Zimbabwe, Indonesia & Malasia.   If iI recall, but my memory is not like it used to be so Google & research, yourself.

Never seen one article about 1st basket? I have read many articles 1000’s hours of research not to say there is an article out there somewhere? Anything is possible, could they adjust in stages possibly….but it’s like people think they will make money from holding zims? 😂

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Luigi1 Grand Master

Luigi1

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On 9/17/2023 at 2:29 AM, screwball said:

Never seen one article about 1st basket? I have read many articles 1000’s hours of research not to say there is an article out there somewhere? Anything is possible, could they adjust in stages possibly….but it’s like people think they will make money from holding zims? 😂

 

White Hats report may still have articles pertaining to the basket of currencies.

You are correct about the Zim.  

Zimbabwe came out with a new currency about two years ago that replaces the 2003 Z notes most of us hold.

Those notes are now a dead currency.  Zs are only good for conversation pieces or wall paper.

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