Dinarland Highlights – 2.8.23
MarkZ
[via PDK]
“Panic selling of US dollars as Iraqis try to get rid of their dollars after the Central Bank of Iraq’s successful measure to reinstate IQD value.“
These people know something. They know the mechanism has started… All over Iraq they are trying to dump their US dollars and get dinars back in their hands. This is huge news.
Question:
“So what is your plan if Nader is right and it’s a slow grind to get the dinar to a 1 to 1 rate? At what point will you go and trade in your currency? Will you exchange a few or deposit it in a multicurrency account?”
I am told when it’s a substantial change your banks will offer you a multi currency account when you come in to exchange it. You will be able to hold it as dinar in this account and your account balance will continue to float as the rate goes up. Hope that makes sense.
I am still hearing though from banking contacts… now it could happen between yesterday when they announced the rate is 1300 and mid February…The banking side is more confident than I have ever seen them that we are at the end of this.
What I am hearing from my sources that the rate will jump down do 1100 or lower. In the next couple days to get the people to finish turning in their US dollars so the working class will have dinar in hand and then and then I hear we get a real whammy of a rate change. That is what I am waiting for…Finally we are seeing big changes… Bankers are still very excited. They are still convinced it will be in the next few days.
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Yada (TNT)
Consider all this time the dollar was being removed from their economy, it was to create a demand for the dinar. The government offices and merchants were told not to use dollar or be arrested. And now with all the contracts from other countries come to Iraq, they will pay in dinar, creating more of a demand hence causing the market value to go up.
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Nader From The Mid East
I told you [yesterday] morning before everybody, before it comes out even in the news. I told you the dollar was at 1300 [See Guru Nader’s Post 2-8-2023 below]…it’s not going to be go to sleep and I wake up and I’m millionaire and the RV happen…it’s gonna float…It’s gonna be 1 to 1 by July…but for now it has to float. It has to show its muscles…for the next couple of weeks gonna get better. Watch it floating…
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Sandy Ingram
Emergency Breaking News Update. IQD rate changed to 1300 to 1 dollar. Hold on the fat lady is NOT singing…the Iraqi dinar has been selling at 1470 dinars against the dollar before the New York Federal Reserve introduction tightening control on International dollar transactions. Yes, this is not what we were looking for…but this is excellent news for the Iraqi people. We knew there would be a rate change and we would not be happy with it. We also knew that we may need to wait for higher rate exchange to the US dollar…
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Pimpy
This is great news. We love to see the Iraqi dinar exchange rate go in this direction, the right direction. The Iraqi dinar has increased in value against the US dollar. What else is all right? Me predicting that the increase wouldn’t be above $.01. As a matter of fact I said that the increase will most likely go back to the original rate prior to the devaluation. I thought for sure they were going to go to 1190 dinars for every dollar but instead they went to 1300 dinars for every dollar. It’s still a step in the right direction.
The Iraq dinar exchange rate has changed. It went from 1450 dinars for every dollar to 1300 dinars for every dollar. You’re looking at about a 9.6% increase in value…Looking very good. There is baby step one…just like I said, they’re gonna go up in increments – small amounts a little at a time.
You’re looking at about a 9.6% increase in value [at the 1300 rate] for the Iraqi people. That’s more purchasing power…we’ll see if the Iraqi people actually feel the increase once the prices start to change…that increase could be so small that it doesn’t do a whole lot to the markets…I do think this is their first increase this year…I’m anticipating a second increase this year. The second increase is really going to depend on how the economy is going…
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Frank26 (KTFA)
Media Tweet:
“Panic selling USD as Iraqis try to get rid of their dollars after Central Bank of Iraq successful measure to reinstate IQD value”
JUST WAIT UNTIL IT FLOATS AT 1 TO 1… THIS IS A TEST RUN.
The education to the citizens is becoming a little bit more in-depth. They have to know the next step is the float. IMO that’s what the CBI meetings [In Washington/US Treasury] were doing – preparing the United States for the Iraqi dinar to float.
[Iraq boots-on-the-ground report]
FIREFLY: The CBI says they are committed to a rate. And the dollar crisis was temporary and the dinar is in recovery.
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Clare (KTFA)
“Al-Alaq thanks Al-Sudani for lowering the price of the dollar: Your response is quick”
Quote:
“…the Governor of the Central Bank, Ali Al-Alaq, thanked the Prime Minister and members of the Council of Ministers for their approval of the decision to reduce the exchange rate of the dollar.”
Article:
“Iraqi Finance requires government banks to adopt the new exchange rate”
Quote:
“Today, Wednesday, the Ministry of Finance directed the two governmental banks, Al-Rafidain and Al-Rashid, to adopt the new exchange rate for the dollar against the Iraqi dinar”
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MilitiaMan (KTFA)
Today has been a big day…They are telling us they are going to do certain things and this 1300 was one of the first stages. The second stage is…they’re going to re-prepare the 2023 budget. In this context the Central Bank governor has stated that’s what’s going to happen…
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Walkingstick (KTFA)
[via Frank26]
From 1750 in the streets to [1300] to 1160…to 1 to 1. This is the goal in order to float and this is what you’re seeing the evidence of it right in front of your face. It’s going in the right direction.
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Bruce (The Big Call)
[via WiserNow]
Remember the international rate that you may see is not necessarily what we’re going to have on the front screens at the banks, we ‘ve already seen some of those rates and much higher and are going to be very good for us ok don’t worry about that…I’m excited Let’s, get this thing done. Let’s have a great weekend.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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