Dinarland Highlights – 11.5.22
One is curious about all the subterfuge going on the last 3-4 days. How many times does a country have to “defend” in one aspect the fact they are “not” going to change the exchange rate….and then, we see articles coming out from within Iraq that this is the very move that needs to be made. Couple that with the input from the WB/IMF and other agencies telling the country to move forward and open themselves up for partnership, investment, and international business. It doesn’t get clearer when one of your largest trading partners (Jordan) opens up a bank down the street.
[Was it this quiet in Kuwait before they RV’d?]
Yes. Absolutely it was this quiet and it had just this much conflicting information. In fact early that morning their national newspaper came out and said they would not be ready for 9 months to 3 years to RV. …Then it revalued that same day. Member comment: I was in country at the time and they told us 6 months to 3 yrs before they would be able to raise the rate. At around 10-10:30 they started exchanging at the new rate.
Most of us are still looking from the 8th until the 11th. Banking sources still think this is our weekend to early in the week… Checked in with Redemption Center contacts…dead quiet. They are on call with nothing to tell. Nothing overnight on the Iraq front. We know they sat their cabinets. We know they sat their ministers and it is now up to the CBI..
“Parliamentary Finance clarifies the return of the dollar exchange rate“
“A member of the Parliamentary Finance Committee, Jamal Kougar, explained, today, Friday, that changing the dollar exchange rate is related to the decisions of the Central Bank, pointing out that the bank has assurances that the exchange rate will continue without any change, at least during the next year.”
“Al-Sudani resolves the position on the re-change of the dollar exchange rate and calls the term “corruption pandemic”
“And on the financial budget for 2023, the Prime Minister announced that he “directed all ministries today to prepare the 2023 budget and determine its priorities, as we are keen to present the budget as soon as possible.“
WHICH ALSO MEANS PRESENTING THE NEW EXCHANGE RATE AS SOON AS POSSIBLE.
[Iraq boots-on-the-ground report]
FIREFLY: Sudani cabinet all are good. No bad apples.
FRANK: the citizens of Iraq love every one of the cabinets that are in the government of Iraq right now..
“The Iraqi president refuses to accept Al-Maliki as his deputy, and the Sudanese is keeping the security institutions away from the control of the militias.“
This is a welcome sight to behold…suggests that the PM Sudani is playing the line that was drawn in the sand by Al-Sadr…The GOI has forward movement and an agenda likely with timelines to be complete and along side and in tandem with the CBI…lets see how the GOI and the CBI play their cards.
“An economist shows the period needed to restore the exchange rate.. These are its effects”
This guy seems to be on a different planet.. 5 years? lol For crying out loud the CBI has already paid for the currency for the GOI to issue once ready, back in 2018.. The focus here is the policy of the government. It is their baby in sync with the independent CBI.
It’s getting interesting over there in Iraq. The fact that these people I thought for sure would do whatever it is that Maliki wanted seem to be resisting anything that Maliki wants…
Once again they are talking about changing the exchange rate. The interesting thing…is the back and forth about whether or not they’re going to do it…Sadr as…the Coordinating Framework…[made] promises to do something about the exchange rate if they control the government. But we do know the decision is not up to the Iraqi government. It’s up to the Central Bank of Iraq to make those decision.
Nader From The Mid East
“Iraqi Prime Minister has reportedly told a press conference that his government intends to increase the value fo the Iraqi dinar (IQD) against the U.S. dollar.”
1450 is making fun of us…
“IS IT TIME TO CHANGE THE EXCHANGE RATE?“
“…go to the program to delete the three zeros so that the dinar became a respectable and strong currency and an actual strategic and national stockpile that is better than the dollar and gold together.”
Alleluia! Alleluia! Yes, this…is exactly what we want to hear. I do not think they will ever tell us directly they will reinstate the dinar but we know if they do the project to delete the zeros they will have to reinstate it. Plus the CBI told us this is the next step way back in 2011 when the told us the overall process of how to get the dinar back to FOREX. By the way this is the second article already in a week that they mentioned the project to delete the zeros….
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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