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Dinarland Highlights for December 5, 2022

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Dinarland Highlights – 12.5.22

MarkZ

[via PDK]

…Warren Buffet put millions into the Iraqi Dinar. Many of the greatest financial minds have invested in the Iraqi dinar. The revaluation is a “when” not an “if”. You can doubt the timing…but, do not doubt it will be very lucrative at some point.

…I think its economic brilliance coming out of Iraq. From Iraq:  …we have a rate. We do not have a fixed rate…we literally have a floating rate now. And based on the market at the end of each day now…A measured approach so they can soak yet more dinar off the streets before their bigger revaluation. I am very excited about it. They are going to allow the market to set the rate each day…This is enormous news. You should be like jumping out of your boots over this one.

I am being told it is looking to start the float around 1160+ …and the rate will be looked at each day. This is massive progress coming out of Iraq. This makes sense as to whats best for the Iraqi people. This is a slow grind to the top and I am told it will not affect our contract rate as it is based on the “Oil for Dinar” contracts. So even if the rate takes awhile to get to where we want it…it has now started. They have now announced that it has started. There is no more “Waiting for this to go”…Expect the float to go fast. I am very excited about the news out of Iraq. [So its possible we could go to the banks this week?]  it could be. We will have to wait and see. If the float rate kicks in Tues or Wed…we could see that rate start to run…very quickly.

The big talk today was “What is that rate going to be?”  We do not know 100% for certain. All we know is it’s about to change.

[I think it will start as a trickle and turn into a flood!]

I agree that this trickle will soon turn into a flood. …we have not seen any change in rates…yet…I am still being told to expect the contract rate and a full RV.

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Nader From The Mid East

The decision this morning has been made to change the exchange rate.  They actually said to the old one…we don’ know if it’s the 1160…then they said it’s gonna go down slowly…the decision is made…maybe a couple weeks maximum you’re gonna see some changes.  So get ready for it. 

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CandyKisses (TNT)

Article:
Parliamentary: Discussions and Dialogues to Review the Dollar Exchange Rate

Quote:
MP Najwa Hamid confirmed the House’s move towards reconsidering the dollar exchange rate.  Hamid told Mawazine News that “there are discussions and dialogues between members of the House of Representatives, and the Finance Committee specifically to reconsider the dollar exchange rate, and we believe that an appropriate price will be maintained.

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Clare (KTFA)

Article:
Starting tomorrow… the Central Bank of Iraq is moving to reduce the price of the dollar (document)

Quote:
The Central Bank of Iraq decided, on Sunday, to increase the weekly sales of the US dollar in the currency auction, in an attempt to restore the exchange rate to its previous state.

Article:
Government official: The exchange rate of the dollar will decrease and its impact will be after a week

Quote:
A government official confirmed, on Monday, that the exchange rates of the US dollar against the Iraqi dinar will decrease with the Central Bank’s decision to increase the weekly share of banks, exchange and mediation companies, pointing out that the decline will have an impact next week.

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Frank26 (KTFA)

Article:
Starting tomorrow… the Central Bank of Iraq is moving to reduce the price of the dollar (document)

THE CBI SAID THERE WILL BE GRADUAL DECREASES TO THE DOLLAR EXCHANGE RATE. 

[Iraq boots-on-the-ground report]

FIREFLY: If it floats is it going to go up really fast?  And when is the best time for us to go in and exchange?

FRANK: As far as when you exchange…that is a personal decision.  You have to make that decision.  At what rate you feel is good enough for you.  1 to 1, 1 to 2, 1 to 3 etc.  You’ve got to know when to hold’m and know when to exchange’em.

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MilitiaMan (KTFA)

Article:
In the document. The central bank decides to increase the weekly share of dollar sales

Are they about to make a big move?

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Kaperoni

The Prime Minister of Iraq met with the central bank governor…He was instructed to take steps to improve the banking system.  The governor was directed to further liberalize foreign exchange. The benefit of such a move helps Iraq integrate with the global banking system, increase investment and encourage financial integration…this should put Iraq in a position to accept IMF Article XIII…  

This step by the central bank today will help perpetuate investment and develop their economy. It is a first step of many.  Liberalizing the foreign exchange and access to dollars should also have an affect on the dinar exchange rate. Though they are not talking about an RV they are talking about using the liberalization to raise the value back to what it was a year or so ago around 1170 to $1. 

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Walkingstick (KTFA)

[via Frank26]

[Walkingstick’s Iraqi Bank partner/friend update]

BANK FRIEND:  It is no secret to any Iraqi citizen at all.  Any Iraqi citizen can come into our banks in Iraq or when we open our private banks and they will be able to see the training of the tellers…they see the new counting and sorting machines we have on our counters.  They know they are not for the dinar they are using right now.  It is for a currency that is new…they know the new ATM machines inside our banks and in the streets are still offline.  It is not secret.

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tlm724 (Bond Lady’s Corner)

Article:
Association Of Banks: Central Bank Measures Will Return Dollar Prices To Their Rates Quickly

Quote:
those who criticize the central bank must be aware that its measures announced yesterday by increasing the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly.

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Pimpy

When it comes to this new government in Iraq it is moving quickly and I mean very quickly.  Not just locally but internationally…

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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