Dinarland Highlights – 1.23.23
“The Framework assigns the Sudanese a suicidal mission in Washington…A financial truce to secure employees salaries?”
What they are facing is a shortage of dinar in the local market that is causing a liquidity problem in Iraq…. They have plenty of US dollars…but dinar is scarce. You know how they could fix this? They could RV and put the lower denominations in circulation. To me this is a contrived crisis to try to help push the RV forward. Maybe I am being wishful in my thinking but, with the shortage of dinar the government is struggling to pay salaries. They have pulled so much dinar off the streets in order to raise the value and RV….
There are rumors that the director of the CBI has stepped down. Why is this important? Sudani said early in this process that if the CBI was hesitant to release it…they would replace the director of the CBI. Everything is ready…they have done everything they need to do for a revaluation…I am assuming…based on evidence I can see…is Sudani has made the decision to force the issue on a change in value…personally I am excited.
If Iraq is going to have a working international ISX on the 29th…this is in 6 days…this means the new rate needs to go before then…I would think…that is what logic dictates….Will the RV go live this week? I don’t know but, there is a tremendous amount of chatter and expectations for the next 2 days…Let’s hope they are right.
We have the end in sight-according to the news coming out of Iraq.
[Iraq is supposed to get listed on the stock exchange on the 29th…]
Yes…we expect they need the new rate to go onto the ISX.
[What is the ISX?]
That is the Iraqi stock exchange which is supposed to be listed on our own NASDAQ and traded there as well. For them to be traded on that internationally they are going to need an internationally recognized currency. This is the overwhelming consensus from experts all across the globe.
[Do you believe it will happen on the 29th?]
Based on the news from the ISX and Iraq’s ascension to the World Trade Organization (WTO) sometime this week…it’s sure possible. …my contacts are convinced tomorrow may be magical.
“Prime Minister Mohamed Shia al-Sudani decided on Monday to relieve Central Bank Governor Mustafa Ghaleb Makhif from his post“
“In a measure aimed at rehabilitating the Iraqi dinar and restoring its position in the local market, Prime Minister Mohammed Shia al-Sudani took a courageous and correct decision to reinstate former Central Bank of Iraq Governor Ali Mohsen Al-Alaq and dismiss Mustafa Ghaleb Makhif, who held a legal position in the bank…Observers are encouraged by this measure, which could put things back on track.”
Hopefully, this guy will straighten the CBI out. RV comin down the track.
“After dismissing him, the governor of the Central Bank, the Sudanese hints at a decrease in the exchange rate of the dollar“
“The Prime Minister, Muhammad Shia Al-Sudani, relieved the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, due to the continued rise in the exchange rate of the dollar and the bank’s inability to curb it. Al-Sudani assigned former bank governor Ali Mohsen Al-Alaq to manage the central bank by proxy. The Prime Minister also referred the Director of the Trade Bank of Iraq to retirement and assigned Rabal al-Hamdani…Al-Sudani commented on the changes by saying:
“The departments that have been assigned to the Central Bank and the Trade Bank of Iraq possess skills and will work to reduce the rise in exchange rates.“
The American dollar is bouncing all over. The Iraqi dinar is going through a float internally. It’s removing its 3 zeros so it can be at least 1 to 1 when they leave the border to float.
“Al-Sudani: We are supervising the completion of a “different” budget, and we continue to support the restoration of the exchange rate“
SUDANI AND GHALEB WORK TOGETHER FOR THE 2023 BUDGET & NEW EXCHANGE RATE
If you have a small amount of dinars, exchange. Especially if they come out at 1 to 1. If you have a lot of dinars, exchange some to cover your bills or whatever you want to for a year and then leave the rest in limbo and watch the float…
Iraq’s prime minister has dismissed the governor of the country’s Central Bank of Iraq and assigned its former chief of the CBI. The Iraqi prime minister said he dismissed the head of the CBI in an attempt to assure public anger over a currency crisis that has let to an increase in the prices of goods.
“A foreign newspaper: The Americans contacted the Sudanese more than (ten) times about the exchange rate and the smuggling of dollars“
“The newspaper said that US officials raised this issue several times with the Sudanese Prime Minister, the latest of which was by the White House Coordinator for the Middle East and North Africa, Brett McGurk, last Monday, and US Ambassador Alina Romanovsky was in close contact with the Prime Minister and held more than ten meetings. The exchange rate was always at the top of her list.“
What they’re really trying to do is get it to that stage where the World Trade Organization is allowed to come in. It might be two days. It might be 30 days but the point is that they’ll need an exchange rate change for them to do that.
Nader From The Mid East
I just bought a ticket from Baghdad to London and they refuse the payment in dollars. They want me to pay them in dinar. So my sister paid in dinar to go to London. That’s great! I love the idea. I read…the parliament decide if you buy a ticket to fly anywhere you cannot buy it in dollar anymore. You have to pay in dinar…It’s great news. It’s a great start.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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