Dinarland Highlights – 11.11.22
Here we are in November already. You have the rest of November and all of December to try to pass a budget for 2023. We know that the draft is going to be put forward. Can they actually pass the draft before the end of the year? That would be important…is there going to be a rate change in there? You heard the Central Bank of Iraq saying that if you don’t hear it from us then it’s just a rumor.
I’m trying to be realistic about this. Is the investing in Iraqi dinar a good investment? I think so. I think eventually it’s going to go back up in value. I know…a lot of you…just want it to happen. I get it…
“Parliamentary calls for the government regarding the budget: boost revenues and reduce expenditures”
There is clearly a push to get things off the ground now not later. IMO the 2022 budget has to be sorted prior to the 2023..the fixed exchange rate based off oil suggests they are further along than some may think…It will be one that enhances revenues and reduces expenses. They know as well as many do , the private sector is going to alleviate the reliance on just oil.
“Central Bank Governor: The current dollar price will be established for years and there is no intention to change it in any way“
the CBI cleverly tells us they are to fix the exchange rate and it will be fixed for years…So in essence the CBI is telling us in my view that they have already changed the exchange rate and then they are going to fix the exchange rate and it will be fixed for years to come. We need them to do it and tell us.
Iraq is due to vote on their full blown budget on the 20th. It is expected they will have a new rate…then they have about 12-14 days for the new president to ratify the budget and to fully be in effect with that new rate. I believe they would not be broadcasting that date which appears to be in stone unless they are going to Revalue sooner…imo. This would allow to many to take advantage of it…so I don’t believe we will be waiting that long.
Very quiet overnight. Its easy to talk to sources…just no fresh news. There is nothing negative.
[What happened to RV between the 8th and the 11th?]
I am still expecting big things today…guess we will see…
If it comes out at the NEER rate (Nominal Effective Exchange Rate) of $1.60 and floats. I would sure exchange some… It would be positive forward movement…it is totally up to the CBI when they release it.
“A delegation from the Democratic Party visits Baghdad to resolve the two vacant ministries”
“…a dispute between the two Kurdish parties prevented the completion of the nomination of candidates for the ministries of housing, construction and environment in the government of Muhammad Shia al-Sudani..”
“The Governor of the Central Bank of Iraq inaugurates a branch of the International Development Bank in Dubai“
“We feel happy and proud when we see one of our banks occupy a position within the UAE banking sector after obtaining the confidence of the Central Bank of the United Arab Emirates,”
“A political bloc links the dollar exchange rate to the popularity of the Sudanese government“
“…the restoration of the old exchange rate…“
Old exchange rate? They’re not talking about the one that they changed in December just of last year. That’s the recent exchange rate that they changed . They’re talking about the one that they changed 20 years ago [Over $1+]…
“the restoration of the old exchange rate means a reduction in the value of prices in the Iraqi markets.”
The goal of Iraq is to de-dollarize Iraq…the market…the CBI…and the GOI. That is the goal of the exchange rate right now.
Bruce (The Big Call)
…obviously, as we look back in hindsight, we have information that makes it look like we’re not going to go this week, meaning through Saturday…We’re looking good but not for this week – I think we’re looking good but it may take some political change for this to happen…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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