Dinarland Highlights – 10.24.22
“The Minister of Finance holds a meeting with the general managers of Iraqi government banks“
“… the government banking sector was able to commit to providing the requirements to support the national economy and to spare it the negative effects of economic repercussions and international conflicts.”
it looks like she hit the ground running… And in an international manner…
Nader From The Mid East
“…According to an official document obtained by Sharak News Agency, entitled, “Reducing the dollar exchange rate“
…due to the repercussions of the rise in the exchange rate of the dollar against the dinar, which negatively affected the economic situation of the Iraqi family especially those with low incomes we, members of the attached list ask the Presidency of the House of Representatives to include a paragraph to reduce the dollar exchange rate and gradually return it to the previous exchange rate…
[reference Guru Nader’s post below]
Most likely what Nader is referencing is “Parliamentary direction to gradually restore the dollar exchange rate-document” I believe this article is what Nader is referencing….he is talking about the previous exchange rate in this article. 40 of the parliamentary members have signed this. They want to restore the rate to a previous level. This is where it gets a bit funky…some think it means the rate would go back to about 1200 dinar per dollar and not the massive increase we are looking for.
If you pay attention to speeches , texts by Sadr and Kazemi…they are talking about going back to the dinar rates former glory from when the rate was around $3 dollars to $1 dinar. I believe this is the rate they are talking about in that article. That they are putting together the mechanisms to do this should have you all excited.
I can tell you this… Once this government is formed we can pay attention to what Maliki is going to do when it comes to the exchange rate fairly quick. Now wether it’s a big jump or not nobody knows. Just cross your fingers and we’ll see what happens…
People want me to go ahead and predict the rate. Well we don’t do dates and rates here but if I was a betting man I’m gonna guess that the first step is they reinstate the Iraqi dinar to its former value. So instead of getting1450 dinar for ever dollar, you’re going to only be able to get 1190 dinars. And that’s good. The lower that number gets the better it is for us. That means our dinar becomes more valuable against the U.S. dollar…
“In the document… Parliamentary signatures to restore the dollar exchange rate“
“A number of members of the Iraqi Council of Representatives demanded the inclusion of the voting paragraph on restoring the exchange rate of the US dollar against the Iraqi dinar to its previous official rate.“
…Good news from the IMF. According to the recently published World Economic Outlook…Iraq’s economy is forecast to grow by 9.3% this year, giving it the fastest real GDP growth of all the Middle East and Central Asian countries…
“Economist: 25 trillion dinars is the cost of reducing the dollar exchange rate“
THEY TALK ABOUT CHANGING THE EXCHANGE RATE… BECAUSE THEY ARE.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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