IQD-USD ER To Exceed 1,600...Iran-Israel War Blamed.

[Luigi1]

FROM IRAQI SOURCES:       Economists Determine Reasons For The Rise In The Dollar In Iraq & Expect It To Exceed 160,000.

ARTICLE:  The “Future Iraq” Foundation for Economic Studies & Consultations, on Thursday, attributed the reasons for the rise in the price of the Dollar against the Dinar in Iraq to the decline in transfers of other currencies & the  inability to cover the demand for foreign currency for the purpose of import,  expecting the rise to continue, bringing the price of one Dollar to 1,600 Dinar in the coming period.

 

The head of the institution, Manar Al-Obaidi, said in a statement received by Shafaq News Agency, that the prices of the Dollar against the Dinar during the past days reached the range of 1,550 Dinars per US Dollar.

 

Al-Obaidi attributed  the reason for the rise to the decline in transfers of other currencies, specifically the UAE Dirham & the Chinese Yuan, as a result of the large restrictions set by correspondent banks that are in the process of enhancing the balances of these currencies.

in addition to the reservation of the banks under the Citi-Pilot project in opening accounts for operating companies & limiting them to working with companies.  She had previously been treated differently than others.

 

Among the reasons that the head of the institution spoke about is “the inability of all transfer mechanisms to cover the demand for external currency for the purpose of importing some goods, specifically mobile phones & gold, which are considered the highest value goods for import, which prompts importers to resort to the parallel market for the purpose of importing.”

 

He added,  “It is expected that the Dinar will continue to decline against the Dollar & it may reach rates of 1,600 Dinars per Dollar in the coming months if the problems are not addressed through practical solutions.”

1- Increasing the network of correspondent banks around the world, especially in the UAE & China.

2- Controlling financial policy by limiting the entry of some types of goods in order to reduce demand for them versus supply.

3- Pressure on the banks under the Citi-Pilot project to be more open to accepting a wide range of clients.

4- It may be necessary to temporarily prevent the import of some goods to reduce the demand for foreign currencies until more organized & smooth solutions are found for the external transfer process. Al-Obaidi said, “without adopting these solutions, the Dinar will continue to decline against the Dollar & may exceed the 1,600 barrier soon.”

In turn, economic & financial expert Abdul Rahman Al-Mashhadani attributed the rise in the Dollar ER in Iraq to political rather than economic reasons.

 

Al-Mashhadani said in a statement to Shafaq News Agency,   “The Dollar has stabilized for a long period in the past few days at 149 to 150 thousand Iraqi Dinars for a $100 bill, especially after transferring the Dollars of real travelers to the airport, organizing the sales process in a smooth manner & resolving the crisis of bottlenecks on exchange companies & payment companies available inside.” “Airport"

 

He added,  “There are no economic reasons or justifications behind the rise because the CBI is still financing large amounts of foreign trade & this is the important element that covers the volume of orders for merchants.”

 

The expert expected that  “the rise in ER is due to the unrest witnessed in the region & the fear that Iraq is one of the stations that could be targeted, which prompted merchants to liquidate the accounts of debtors & creditors, especially those who have obligations to merchants abroad.

 

Fear of instability may cause a rise & thus will be affected.” The merchant must pay what he owes.  He noted that the 2nd matter “is the fear & panic that afflicts people in such crises.

 

They turn to converting Dollars for fear that things will get worse & they will be forced to travel or emigrate, even if they are inside Iraq,” adding that “the Dollar is the safest means at hand because it is needed in “Markets.”

 

The price of the Dollar rose in local markets to reach approximately 155 thousand Dinars compared to 100 Dollars after the events that the region witnessed, including military operations in Lebanon & Iran on the one hand and Israel on the other hand.

 

Government Advisor: There Is No Concern About Iraq’s Financial Situation And Our Foreign Reserves Are Diverse.

The Financial Advisor To The PM, Mazhar Muhammad Saleh, Reassured About The Country’s Financial & Economic Situation.

Saleh told {Al-Furat News} agency:  “We should not worry about the ongoing fluctuations, whether in monetary gold or the various foreign currencies that make up the country’s foreign reserve portfolio, which varies from major foreign currencies & monetary gold and in accordance with the international standard investment guides that it adopts.”

 

The Monetary Authority Has High-Level Technical Cooperation With Multilateral International Financial Organizations, Specifically The IMF & The WB.”’

He stated,  “Usually, the CBI hedges in managing its sovereign investment portfolio with a well-studied & highly sensitive diversification, with standard ratios & precise weights for each foreign currency, in addition to the cash gold from which the foreign reserves are composed.

 

This is within the scope of what is called hedging against the risks of fluctuations in currency and gold ER, which is a policy that expresses efficiency.” Managing the country’s investment portfolio according to diversification in various foreign currencies & gold. Saleh explained,

 

“A fall in the market value of gold, for example, must be offset by a rise in the value of the Dollar or other foreign currencies through managing the components of the foreign reserves portfolio itself, as diversification is an important pillar of the hedging policy in managing investments in foreign assets from currency ER fluctuations.” foreign currencies & gold by diversifying the country’s sovereign investment portfolio.” 

 

He pointed out that  “the sovereign investment portfolio avoids what is called in the literature of the accounting policy of central banks (unrealized losses), by immediately realizing (unrealized profits), which are the same unrealized profits that correspond to the unrealized losses resulting from the fluctuation of gold or foreign exchange prices at the time.” same”.

 

He pointed out that  “a good diversification policy, in the assets or holdings of the investment portfolio, provides sufficient neutrality in  preserving the total market value of the country’s foreign asset reserves & always stabilizing their value.”

 

Banking Advisor: The Government Is Committed To Opening New Horizons For Partnership With Investors.

The representative of the PM & his advisor for banking affairs, Saleh Mahood, affirmed the government’s commitment to supporting the Securities Commission & opening new horizons for partnership with investors, calling on the legislative authority to accelerate the issuance of the necessary legislation to meet the requirements of the modern market & enhance the investment environment in Iraq.

 

Mahood said at the World Investor Day Conference – attended by the Iraqi News Agency (INA) correspondent: “It is a great honor to represent PM Muhammad Shiaa Al-Sudani in this event organized by the Securities Commission,” indicating that “this conference represents a vital platform for strengthening ties.” between the government & investors and highlights the investment opportunities available in Iraq.”

 

He added,  “The world lives today in an era characterized by rapid economic changes, which requires activating the role of the securities sector as a main tool for stimulating economic growth,” adding, “the Iraqi government headed by Muhammad Shiaa Al-Sudani is fully aware of the importance of this sector as a lever for growth and attracting local & international investments.””.

 

 He pointed out that “global experiences have proven that investments are not only an engine for growth, but rather a means of developing infrastructure, creating job opportunities & enhancing transparency & efficiency in resource management,” considering that “the Securities Commission is a vital partner in achieving these goals, as it works to regulate markets & enhancing their protection.

 

Mahood emphasized “the importance of cooperation between the public & private sectors,” stressing that  “the success of investments depends on investment partnerships that contribute to mitigating risks & increasing confidence.”

 

 He explained, “There is an urgent need to accelerate the issuance of the necessary legislation to modernize the legal system to suit the requirements of the modern market, as there must be clear mechanisms to protect investors & facilitate investment procedures, which contributes to improving the business climate in the country.”

 

He pointed out, “The importance of strengthening corporate governance, as building a strong governance system is vital to ensuring transparency,” stressing: “Investors must feel that their money is protected & that there are effective mechanisms to monitor performance.”

 

 Mahood called for “focusing on education & awareness, as building human capabilities & developing skills in the financial sector contribute to creating an attractive investment environment,” stressing “the importance of establishing training programs & workshops targeting investors, bankers & government agencies.”

 

He stressed, “The commitment of the Iraqi government and PM Muhammad Shiaa Al-Sudani to provide support to the Securities Commission & open new horizons for cooperation & partnership with investors,” considering, “this conference is an important step towards building a prosperous &d sustainable Iraqi economy.”

[wealthhound]

Related to the dinar revalue

 

https://rumble.com/v5hb589-jon-dowling-breaking-news-concerning-the-dinar-xrp-nuclear-power-plants-of-.html
 

 

 

[screwball]

didnt realise kim clement talked about israel hitting iran and then dinar would follow...but does go hand in hand with my source telling me two are linked....well time will tell....not long israel will hit iran very soon within days...

[Shedagal]

11 hours ago, screwball said:

didnt realise kim clement talked about israel hitting iran and then dinar would follow...but does go hand in hand with my source telling me two are linked....well time will tell....not long israel will hit iran very soon within days...

I followed Kim very closely during the time he discussed dinar.  I do not remember him saying that.  Would love to see a link.

[wealthhound]

4 hours ago, Shedagal said:

I followed Kim very closely during the time he discussed dinar.  I do not remember him saying that.  Would love to see a link.

I don’t have a link but I did google Kim Clement Israel/ Iran and a few videos popped up. WH

[BETTYBOOP]

 @screwball  not sure this is the video people are talking about but he does mention a few ME Countries

[Luigi1]

1 hour ago, BETTYBOOP said:

 @screwball  not sure this is the video people are talking about but he does mention a few ME Countries

 

Go RV.  The sooner, the better.

[Shedagal]

Don't have time to do thorough search but went to Kim's church site and pulled up this prophecy.  It mentions "the grave surrender" we have noted before.  Maybe that means Iran.

 

https://www.houseofdestiny.org/prophecy/word/?trid=639

[Shedagal]

On 10/5/2024 at 11:12 AM, BETTYBOOP said:

 @screwball  not sure this is the video people are talking about but he does mention a few ME Countries

Did you notice that God called Netanyahu "His prophet" and that God will protect him?  I have had to unfollow many on telegram who have insisted Bibi is cabal and are anti-Israel.  They are deceived.

[Sage449]

"The prayers of My people in Iran and the prayers of My Christian people that have come forth from Iraq and from Palestine - yes Palestine - and even those regions, I will hear their prayers and I will do something marvelous and will affect this nation, says the Lord. You put your hand in the hand of Iran? I say to you, I will remove the hand of America out of the hand of Iran, says the Lord, and I will free up My people for the promise is yes and amen. Yes and amen! Yes and amen! Yes and amen!"

[BETTYBOOP]

Did Kim not also say something about Iran and ? Syria will expose the white house? or words to that affect?

[Shedagal]

7 minutes ago, BETTYBOOP said:

Did Kim not also say something about Iran and ? Syria will expose the white house? or words to that affect?

You can go to the House of Destiny website, go to prophecies, and do a search on a topic (such as Syria) and see what comes up. 

[screwball]

2 hours ago, Sage449 said:

I will remove the hand of America out of the hand of Iran,

as i said Cabal.....