The Iraqi Central Bank announces the arrival of dollar shipments from Baghdad airport

[RJG]

The Iraqi Central Bank announces the arrival of dollar shipments from Baghdad airport

 

Economy

- 11-29-2023 01:08 PM - Number of views: 6869

 

 

 

The Central Bank of Iraq announced today, Wednesday, the continued arrival of dollar shipments through Baghdad International Airport, imported by Iraqi banks to meet the requests of their customers.

A source at the Central Bank said, “Dollar shipments continue to arrive through Baghdad International Airport and are imported by Iraqi banks to meet the requests of their customers.”

He added: "It is hoped that additional shipments will arrive during the next few days."

https://www.dijlah.tv/index.php?page=article&id=338712

 

 

[Longtimelurker]

33 minutes ago, RJG said:

The Iraqi Central Bank announces the arrival of dollar shipments from Baghdad airport

 

Economy

- 11-29-2023 01:08 PM - Number of views: 6869

 

 

 

The Central Bank of Iraq announced today, Wednesday, the continued arrival of dollar shipments through Baghdad International Airport, imported by Iraqi banks to meet the requests of their customers.

A source at the Central Bank said, “Dollar shipments continue to arrive through Baghdad International Airport and are imported by Iraqi banks to meet the requests of their customers.”

He added: "It is hoped that additional shipments will arrive during the next few days."

https://www.dijlah.tv/index.php?page=article&id=338712

 

 

Interesting way to dedollarize

[BETTYBOOP]

Just now, Longtimelurker said:

Interesting way to dedollarize

Yip... I am struggling to get my head round this. If they are de dollarizing and they will be dinar only by new year why do they need to import so much more? I get that it will strengthen the dinar along with the other currencies but if the market was flooded with dollars and they are moving to dinar only why can't they not use the ones in circulation as they gather them in?

[RJG]

Personally, my thought is 'if you add more of something the value of it all as a whole will go down'. 

 

The dollar has been up against the Dinar, 1600/1500 dinar to 1 dollar recently.  They are trying to bring it down to 1310 dinars (what is in the budget) vs 1 dollar.  Hopefully with all these dollars coming in, they will get it down to the 1300 or less, ideally would be 1,000 dinars to the dollar. Then remove the 3 zeros from the exchange rate to go international.   If they bring the dollar value down to 1300 dinars, we are looking at 77 cents per dollar in my opinion.  That is 1/1300 =.000769.  That matches the budget for the next three years.  Then remove the three zeros, .000769 becomes .769 cents per dinar.  

[RJG]

Another thought is since Iraq is not international yet, they are using the dollar as their trade currency domestically and internationally. Of course, they recently removed it in all domestic transactions this year, and will do so from all their trade as of 1/1/24.  So they must deal with the price of the dollar against the dinar now while they can.  Once they remove the dollar from the nation and pair it internationally against the dinar, that is the last step.   So seeing the large shipments of dollars coming in, will help bring up the dinar value and bring down the dollar value demand.  I think this move to bring in more dollars must happen to grow the value of the dinar agasint the dollar before it is paired internationally.  I hope I communicated this well. haha.

[horsesoldier]

These $$$$$ are probably going to " shore up " the criminal elite Bureaucrats already bloated bank accounts : as well as goods and services to keep them in the opulent lifestyle they've become so very accostmed to, while the citizens scrape out their dinner from trash cans.

Gosh, that was mighty cynical of me.

[BETTYBOOP]

14 minutes ago, horsesoldier said:

These $$$$$ are probably going to " shore up " the criminal elite Bureaucrats already bloated bank accounts : as well as goods and services to keep them in the opulent lifestyle they've become so very accostmed to, while the citizens scrape out their dinner from trash cans.

Gosh, that was mighty cynical of me.

 Might be cynical, but , I don't doubt there is an element of truth in it

[screwball]

26 minutes ago, RJG said:

Another thought is since Iraq is not international yet, they are using the dollar as their trade currency domestically and internationally. Of course, they recently removed it in all domestic transactions this year, and will do so from all their trade as of 1/1/24.  So they must deal with the price of the dollar against the dinar now while they can.  Once they remove the dollar from the nation and pair it internationally against the dinar, that is the last step.   So seeing the large shipments of dollars coming in, will help bring up the dinar value and bring down the dollar value demand.  I think this move to bring in more dollars must happen to grow the value of the dinar agasint the dollar before it is paired internationally.  I hope I communicated this well. haha.

Both your posts make sense! Thanks! 

[screwball]

They still got bills to pay! 

[Hotcurl]

Perhaps another "back door deal" from O'Biden, to send cash, via the CBI/Auctions to Iran so, they (Iran) can continue to support the proxy wars in the Middle East.

 

Just sayin' ......................

 

Semper Fi 

[screwball]

what happens if they are clearing and settling accounts before Jan 1 2024.

[screwball]

there was an article recently about contracts and current pricing and the affets that stopping USD in country, they still need to be settled prior to changes taking affect. makes sense when you think about it

[screwball]

maybe even currency swap agreements, USD for dinar.....who knows

[Laid Back]

21 hours ago, RJG said:

Personally, my thought is 'if you add more of something the value of it all as a whole will go down'. 

 

The dollar has been up against the Dinar, 1600/1500 dinar to 1 dollar recently.  They are trying to bring it down to 1310 dinars (what is in the budget) vs 1 dollar.  Hopefully with all these dollars coming in, they will get it down to the 1300 or less, ideally would be 1,000 dinars to the dollar. Then remove the 3 zeros from the exchange rate to go international.   If they bring the dollar value down to 1300 dinars, we are looking at 77 cents per dollar in my opinion.  That is 1/1300 =.000769.  That matches the budget for the next three years.  Then remove the three zeros, .000769 becomes .769 cents per dinar.  

Thanks for your comment RJG,

 

Yesterday I was looking for information about the cost of living in Iraq and

I found this:

 

Summary of cost of living in Iraq:

-A family of four estimated monthly costs are 1,783.7$ (2,323,061.2IQD) without rent.

-A single person estimated monthly costs are 521.4$ (679,059.0IQD) without rent.

-Cost of living in Iraq is, on average, 58.2% lower than in United States.

-Rent in Iraq is, on average, 82.1% lower than in United States.

 

Last Updated November 2023

https://www.numbeo.com/cost-of-living/country_result.jsp?country=Iraq

 

What is interesting about this is;

If you divide the amount of Dinars by the amount of US dollars, equals 1.3 dinars

per $1

 

Family of four monthly cost: 

2,323,061.00 IQD / $1,783.7 = 1.3 Dinars per $1

 

Single Person

679,059.00 IQD / $521.40 = 1.3 Dinars per $1

 

$1 / 1,310 = 0.00076

 

0.00076 x 1.3  = 0.00099

 

Delete 000 = $0.99

 

Go new monetary policy 

Go delete 000

Go stronger dinar

 

[Bama Girl]

Great information from you both. Thank you RJG and Laid Back

[Officiallytook]

5 hours ago, Laid Back said:

Thanks for your comment RJG,

 

Yesterday I was looking for information about the cost of living in Iraq and

I found this:

 

Summary of cost of living in Iraq:

-A family of four estimated monthly costs are 1,783.7$ (2,323,061.2IQD) without rent.

-A single person estimated monthly costs are 521.4$ (679,059.0IQD) without rent.

-Cost of living in Iraq is, on average, 58.2% lower than in United States.

-Rent in Iraq is, on average, 82.1% lower than in United States.

 

Last Updated November 2023

https://www.numbeo.com/cost-of-living/country_result.jsp?country=Iraq

 

What is interesting about this is;

If you divide the amount of Dinars by the amount of US dollars, equals 1.3 dinars

per $1

 

Family of four monthly cost: 

2,323,061.00 IQD / $1,783.7 = 1.3 Dinars per $1

 

Single Person

679,059.00 IQD / $521.40 = 1.3 Dinars per $1

 

$1 / 1,310 = 0.00076

 

0.00076 x 1.3  = 0.00099

 

Delete 000 = $0.99

 

Go new monetary policy 

Go delete 000

Go stronger dinar

 

1-1 out the gate I like it. 3-6mos later 1-2 then 1-3 👀...

 

Do I take the 🪙 or wait for the 💰

[screwball]

1 hour ago, Officiallytook said:

1-1 out the gate I like it. 3-6mos later 1-2 then 1-3 👀...

 

Do I take the 🪙 or wait for the 💰

 

6 hours ago, Laid Back said:

Thanks for your comment RJG,

 

Yesterday I was looking for information about the cost of living in Iraq and

I found this:

 

Summary of cost of living in Iraq:

-A family of four estimated monthly costs are 1,783.7$ (2,323,061.2IQD) without rent.

-A single person estimated monthly costs are 521.4$ (679,059.0IQD) without rent.

-Cost of living in Iraq is, on average, 58.2% lower than in United States.

-Rent in Iraq is, on average, 82.1% lower than in United States.

 

Last Updated November 2023

https://www.numbeo.com/cost-of-living/country_result.jsp?country=Iraq

 

What is interesting about this is;

If you divide the amount of Dinars by the amount of US dollars, equals 1.3 dinars

per $1

 

Family of four monthly cost: 

2,323,061.00 IQD / $1,783.7 = 1.3 Dinars per $1

 

Single Person

679,059.00 IQD / $521.40 = 1.3 Dinars per $1

 

$1 / 1,310 = 0.00076

 

0.00076 x 1.3  = 0.00099

 

Delete 000 = $0.99

 

Go new monetary policy 

Go delete 000

Go stronger dinar

 

Great work! 

[screwball]

Happy to cash out at 1.00, still have shares and dinars in bank

[Dinarrock]

3 hours ago, Officiallytook said:

1-1 out the gate I like it. 3-6mos later 1-2 then 1-3 👀...

 

Do I take the 🪙 or wait for the 💰

At 1 to 1 I will absolutely not wait for anything higher period!, it has taken them 20 years just to get back to atleast 1 to 1 hopefully!! Any new wars breakout there or anything could easily happen to tank the dinar again! I have been invested for close to 18-19 years now and have more then most I bet so maybe I keep 500K to 1 million in reserve but me I am exchanging and investing where I can in real estate and other areas to get our of the dollar in case we crash! That’s why it’s wise to interview several wealth managers, tax attorneys etc to make sure you get what you want and need to protect this long term investment so you do lose all this new found wealth!

[Officiallytook]

Aye one mind send me some links to order more 😊

[screwball]

2 hours ago, Dinarrock said:

At 1 to 1 I will absolutely not wait for anything higher period!, it has taken them 20 years just to get back to atleast 1 to 1 hopefully!! Any new wars breakout there or anything could easily happen to tank the dinar again! I have been invested for close to 18-19 years now and have more then most I bet so maybe I keep 500K to 1 million in reserve but me I am exchanging and investing where I can in real estate and other areas to get our of the dollar in case we crash! That’s why it’s wise to interview several wealth managers, tax attorneys etc to make sure you get what you want and need to protect this long term investment so you do lose all this new found wealth!

wise plan

[Half Crazy Runner]

17 hours ago, Officiallytook said:

Do I take the 🪙 or wait for the 💰

That is a wonderful choice to have to make!!  

[Laid Back]

18 hours ago, Officiallytook said:

1-1 out the gate I like it. 3-6mos later 1-2 then 1-3 👀...

 

Do I take the 🪙 or wait for the 💰

I think $1:1

- The easiest transition for the local market and the citizens 

- The Easiest way to de-dollarize the economy 

- Real Purchasing Power

 

Go Stronger Dinar

Go $1:1

 

[davis411]

1 hour ago, Laid Back said:

Go $1:1

Davis supports this statement 

[Officiallytook]

Anyone notice the uptick in crypto...round the same time...as the momentum in the dinar picked up, Something forever is telling me it'll be close, if not one before the other, but for sure it will be before the US economy picks up(stocks etc)

Edited December 1, 2023 by Officiallytook
Forgot something