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Dinarland Highlights – 12.11.22
MarkZ
[via PDK]
From my contacts there they are hoping officially for a float by midweek this coming week… I am beginning to believe based on things coming out of DC that this just might be a float and not go all at one time. So be prepared just in case. I hope I am wrong but I am starting to get the growing feeling that we are going to see a lowball rate and float. This could be the same thing for dong…Right now, this is just possibilities…Just be prepared for either direction.
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Clare (KTFA)
Article:
“The “Finance” expects the Iraqi government’s vote on the budget: Parliament’s approval of it will take about two months“
Quote:
“the Iraqi Council of Ministers will vote on the draft general financial budget law for the year 2023 at the end of this month.”
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Paulette (KTFA)
I believe that the closer to the end of this year that Sudani’s GOI passes the budget, the greater likelihood we will see the CBI move to “restructure” the currency. Realize, this “restructure” must also come with a significant rate change. In country of course but a significant change nonetheless. I am hopeful this will be 1.46 IQD to 1 USD. I will certainly love to see $0.685 cents to 1 IQD going into January and then will sit tight knowing the RI is close behind.
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Frank26 (KTFA)
The HCL was agreed upon a long time ago…indirectly Article 140 was agreed upon a long time ago. This is going to trigger the exchange rate in the budget with the reforms…Article 140 – HCL – Article VIII – Forex – Float – cap it. This is good.
Article:
“With the participation of Iraq, the Chinese president will visit Saudi Arabia on Thursday to attend a joint summit“
IRAN NEEDS IRAQ’S CURRENCY & CHINA NEEDS IRAQ’S OIL BOTH ARE GREAT FOR THE IQD EXCHANGE RATE.
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Kaperoni
Guru Frank26 says once you see Iraq pass the hydrocarbon law (HCL) you’ll see a new exchange rate…He is wrong…The HCL significantly help investment, but there will be no change in the dinar rate until Iraq develops a private sector economy…Only with the success and growth of Iraq’s economy can the dinar go up in value and it will be gradually over time via float.
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Sandy Ingram
Kuwait is Iraq’s neighbor… they have the highest value currency in the world. How did Kuwait get to this status? For one the Kuwaiti money is hard, very hard, difficult to come by. It is not plentiful like the Iraqi dinar or even the U.s. dollar. Secondly Kuwait too is a an oil rich nation…
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Samson (KTFA)
Article:
“Central Bank: The exchange rate of the dollar will be returned to normal within two weeks“
CBI taking actions
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Pimpy
When they do change the exchange rate, if they do, they’re only going to restore the old rate. Not the $3.22 rate…the rate they had prior to this rate which is 1190 dinars for every $1. Right now they have 1450 dinars for every dollar…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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