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Dinarland Highlights – 2.11.23
Mountain Goat
…we don’t yet have the RV we want but remember the 2023 budget is not yet passed or opened and so there is still a very good chance that the CBI may still make this move to reinstate the dinar. It is still very possible and very likely.
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MilitiaMan (KTFA)
It really looks like things we’re seeing are unfolding quickly and intense…fast and furious. Meetings in Istanbul…those were successful. Done. Then they were going to come into New York and to Washington DC…from about the 7th up until the 10th they all showed up…that’s really powerful that the delegation wasn’t only the second string it was the first string. Everybody was there. They were talking about exchange rate issues.
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Pimpy
There’s a couple things people got to understand. You have the official exchange rate…and the market exchange rate…We know recently the Iraqi dinar exchange rate changed to 1300…Right now the market is showing…1459 dinars for every dollar…Obviously you don’t want that gap to get too big because then you start encouraging people to buy on the black market. If I take $100 to the bank and they officially do the exchange of 1300 dinars for every dollar verse me going to the…black market and I got somebody who’s willing to give me 1700 dinars for every dollar obviously I’m gonna go where I could get the most money…
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MarkZ
[via PDK]
Still getting many, many rumors and confirmations of fluctuating bank screens. Banking contacts are on call this weekend but I don’t think they will be called in but I guess its still a possibility. Its still a “any moment “ thing imo….but, most of them are looking at early this week.
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Clare (KTFA)
Article:
“The Governor of the Central Bank of Iraq meets with the Vice Chairman of the Board of Directors of JPMorgan Bank“
Quote:
“During the meeting, it was agreed that JP Morgan would facilitate payments from the Iraqi banking system to the People’s Republic of China to finance private sector imports directly…CBI is committed to applying international standards in anti-money laundering and countering the financing of terrorism (AML/CFT) measures, Al-Allaq said“
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Frank26 (KTFA)
It’s going in the right direction. 1300 to 1? <psh> It ain’t got nothing on 100 to 1. <psh> Got nothing on 1 to 1. And that is the goal because they need to reach the REER in an International float.
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Walkingstick (KTFA)
[via Frank26]
The Iraqi Stock Exchange and the Erbil Stock Exchange as of the 28th of January are all linked and in position ready for the float. It’s just not live yet. The Iraqi Stock Exchange and the Erbil Stock Exchange will be going live internationally the moment the new exchange rate is released. All the platforms are now linked.
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Henig (KTFA)
Article:
“Washington meetings. Meeting between the Governor of the Central Bank and the Director of the IMF“
Quote:
“the International Monetary Fund continues to provide technical support to the Central Bank of Iraq in various fields.”
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Paulette (KTFA)
After listening to the last couple bank stories...it appears to me that some banks may actually charge a fee to purchase foreign currency in addition to any “spread”…Based on my personal experience as long as you are purchasing/selling a certain volume most banks do not charge a “FEE”. At least those I deal with…Therefore, I don’t think any of us will be charged a “Fee” at most banks as hopefully our volume will far exceed their requirements even if exchanging a relative minimal amount.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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