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Wednesday Early Morning Opinions @ 8:55 AM MST - 1/01/2025


ronscarpa
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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 ... :twothumbs: RON 

 

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: Television says the matter has been resolved, there is no money dollar currency auctions platform anymore after 20 years. FRANK: No wonder they're showing you the old lower notes. FIREFLY. This is from the CBI spokesman. FRANK: This is an official source then.  They're over. :twothumbs:

 

 

Clare  Article Quote: "The date for closing the platform is fixed, it will not change and will not be extended. The banks have been preparing since the beginning of this year when Governor Ali Al-Alaq announced his intention to close the platform." THEY HAVE A FIXED DATE ACCORDING TO THE ARTICLE.... SALEH SAID starting Jan. 2, 2025, the Central Bank of Iraq will no longer directly sell foreign currency.  IMO THIS IS THE LAST FOREIGN CURRENCY AUCTION.:twothumbs: {Reposted from last night}

 

 

:tiphat:

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Posted @ 10:00 AM MST:

 

MarkZ  Question: When the auctions end-then we get a new rate? Mark: They are supposed to… it may take a few days without the new rate so they can let things stabalize… but then BAM… we get a REER (Real Effective Exchange Rate).  At least that is what they have been telling us from Iraq. Just his opinion, with no basis in fact.

 

:tiphat:

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1 hour ago, ronscarpa said:

So, what I gather from this statement is that the regional and local banks will be working with people directly to exchange dollars. That would be for when they need them for something in country or for traveling.

 

Here is my question... the auctions including the cash transfers were there to manage the program rate - or at least that is what I understood. Am I seeing that correctly? Because if that is true, then why do we need to know that the regional banks are exchanging dollars? Is that just placebo for the people to feel like they have access to the dollars should they need them? I am curious about other's thoughts.

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