Dinarland Highlights – 12.8.22
[Iraq boots-on-the-ground report]
FIREFLY: All they talk about is approving the budget and talking about a law. This law they’re saying is of integrity and is of our sovereignty…they’re talking about how all calculations on the budget have been changed and is ready.
FRANK: Your report…screams a rate change very loudly with a strong echo …if the budget has been calculated and ready to go it is because they have used the new exchange rate…
Iraq will not be able to retrieve this important source of money [stolen and recovered funds] from the Paris Club Agreement for liquidity until they go public with at least a 1 to 1 rate…
This is very important. The CBI said on Monday, ‘We have started the process of lowing gradually the exchange rate of the Iraqi dinar against the American dollar.‘ You know what that is? Preparing to float. You know what that is also? …it’s a reinstatement process that allows them to reinstate their currency.
“Iraq.. The dollar continues to exceed the threshold of 1,500 dinars“
“The selling price of the dollar was 150,200 dinars per 100 dollars, while the buying price of the dollar was 150,100 dinars per 100 dollars.”
“In numbers… a new government comment on the draft budget law 2023“
“the delay came due to the delay in forming the current government and its approval of a new ministerial curriculum and development principles that take priorities, which requires longer time to prepare and present the 2023 budget.”
“The dollar is approaching 151,000 dinars on the Baghdad Stock Exchange“
It [the dinar rate] is going in the wrong direction. We need it to go in the other direction. Something is causing the Iraqi dinar to lose its value against the U.S. dollar…This obviously is a concern of the government. It is a concern of the banking industry.
[Member: latest update from a banker is he has no specific date he is confident we will be exchanging before Christmas.]
That is what we are all hearing…we are being told that everything is great …things are moving and we should be exchanging well within the month of December.
[Did Iraq pass its budget today?]
I heard they did not…it would have delayed their legislation recess. So it looks like it won’t be passed until January. But, that does not mean they won’t Rv. In fact it may be a better time to do it while parliament is not there. 2 ministers today said they could call an emergency session if the CBI did not move forward with a rate change.
[Follow up to her 12-7-2022 exchange in Iraq post]
Let me clarify…the need to travel for the revalue would only come if Iraq prints new money or goes digital with restrictions on the exchange. If Iraq prints new money they could do what Kuwait did and restrict where you can exchange the old currency, which we are holding, for the new currency.
The CBI is having hot meetings with everyone, every three-letter agency you can think of along with every country…I have never seen meetings like these before. They’re extremely hot. Extremely volatile…normally these meeting just go on to the next, to the next, to the next but every meeting is accomplishing something…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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