Dinarland Highlights – 1.8.23
I am still hearing they want to keep things very cloudy here at the end for safety reasons. Based on my research and a couple conversations that they are throwing around dates from the 9th to the 31st…they are doing this on purpose. They do not want anyone to know the exact date…for security reasons. They have a wide target range there, and personally I think it should be on the “sooner” side then the “later” side of it.
Many try to compare Vietnam and Iraq when evaluating the currency. Most of these comparisons are flawed: “…Vietnam has a very low rate and their economy is one of the fastest growing…”
This is a totally irrelevant comparison. The rate is not the issue. The issue is IMF Article 8 Compliance. This allows Freedom of Movement of capital in and out of the country.
Vietnam has been officially acknowledged to be Article 8 compliant, Iraq has not. Additionally, the CBI has clearly stated their intent to implement the “Delete the Zeros” project. Vietnam has not made any such claims. Bottom line, comparing Iraq and Vietnam due to their low currency value is like comparing Apples to Oranges…
“Al-Janabi: The Central Bank is able to restore confidence in the Iraqi dinar soon“
“this problem, which confused the state of the Iraqi market, will soon be resolved, and the central bank is able to restore confidence in the value of the Iraqi dinar and adjust technical matters in the near future,“
Bands on the float will keep it at 1 to 1 with the American dollar butwhen they lift these bands the IQD will float faster and it will gain more than a 1 to 1 with the USD and all the other currencies in the basket. Pairing 1 to 1 at the onset and then as the economy of Iraq improves and grows and the education get stronger and louder and Iraqi citizens get used to using the new currency then everything will be perfect for the Iraqi citizens.
The last two months have been very rocky for the IQD only because of all the speculation out there. There’s a lot of people that want to keep the Iraqi dinar unstable and they did a pretty good job of rocking the boat. I think people are starting to wake up to this trick or maybe not. We’re going to find that out the beginning of this next year…the budget…hopefully approved by February should calm a lot of people’s nerves and from there we should see some positive movement with the IQD…
Iraq is beginning to create the conditions to launch a float of the Iraqi dinar. Large Central Bank Reserves, creating a private sector economy, all are conditions and requirements for the success of floating…one [article] specifically talked about the central bank’s reserves and how they won’t be needed at such a high amount a year or so from now. That’s a clear indication that they’re not planning to do anything monetary policy wise with the dinar for at least another year. I don’t expect a float until 2024 at least…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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