Dinarland Highlights – 3.2.23
MarkZ
[via PDK]
…many nations hold Iraqi dinar in their foreign currency reserves. This is very important…when they change the value…it makes an argument for a much higher rate. If there is a substantial rate change…these countries can use the dinar to pay off debt. With many countries failing and bankrupt around the world…The higher rate they can substantiate equals a lot of good will toward Iraq generates from many countries worldwide. This is awesome…
the budget should reach Sudani to sign at the end of the week. The end of their week in Iraq is Saturday. It may reach Sudani sooner…I have been expecting it at any moment since early yesterday. Question: Didn’t Mark say the RV could go before budget was approved? Answer: MarkZ: yes it can. But we are being told that there is a significant rate change adopted in the budget. This could “force” the value change.
…still hearing from Iraq about large projects financing…budget is still expected to go within the next 2 days to parliament. We are told the new rate and HCL law/agreement is in the new budget.
Question: What is the HCL again?
Answer: MarkZ: HCL = Hydrocarbon Law and is the way they are going to give citizens and Kurds their share of the oil and gas process. This has been a massive sticking point for this event…along with the restoration of their rates. Things appear to be rolling out nicely right now.
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Mountain Goat
…when I talked to my CBI contact late last week it was a very positive conversation and I was left with the impression that this RV saga could finally be over much sooner than we think. I could not get a date since my contact told me there is no date set and that there are only targets.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: They’re telling us only to use ours [dinars] but hold on to it…they’re saying this will make our dinar stronger. They told us our reserves are now something like $117 and the gold is over 132 tons. Both of them they’re telling us are the highest ever…
FIREFLY: Today it’s all about the USA Secretary General here. He’s meeting in international issues. I think we’re getting ready to float. They’re not saying much but his visit it’s all over the news. The government is talking to us about the digitization process and how this new reform, in the new platforms what will help us to float…
FRANK: This is good! This is all the monetary education.
It’s important that you understand the 2nd stage of the monetary reform is for the purpose of introducing the new small category notes, the new exchange rate and floating the Iraqi dinar. It has nothing to do with the budget…Article 140…HCL. All of those things are side effects…all of those things are the children of the monetary reform…
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Kaperoni
Big news for Iraq investors today. As we stated numerous times, the value of the dinar will be based on the success and growth of Iraq’s economy…today, Iraq announced a significant economic hurdle has been achieved. The Iraqi Council of Ministers has agreed to accession to the Convention on the International Landing Transport System thus allowing the entry of thousands of trucks into Iraq containing goods, materials to revitalize Iraq!
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Pimpy
Iraq has one of the largest gold reserves in the world and the crazy thing about it is most of the gold is on the surface. The Iraq Central Bank is doing a lot of what central banks are doing around the world which is increasing their gold reserves…Iraq went from 96.42 tons and jumped up in July of 2022 to 130.32 tons…which is awesome…
Community Question:
“When is it going to revalue? That’s all I care about.”
It’s already revalued 2 years ago. Unfortunately it was devalued the wrong direction. It was just revalued here recently, it went from 1450 dinars 1320. To answer your question, they just did it a week ago.
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Nader From The Mid East
This week two good things should happen. The budget should reach Sudani by Saturday I hope. The 2nd thing I heard and it’s confirmed in the budget there’s a rate and it’s a good rate after all. They didn’t tell me how much but they said it’s a good rate. Me accept even 500 I accept. 500 to 1, I accept it. I’ll take it and then you can talk about float and all that stuff.
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Walkingstick & Frank26 (KTFA)
Everything is already factored into when they will release the new exchange rate…all the calculations for the budget are set and they all have been tested doing the RV process of the monetary reform.
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Walkingstick (KTFA)
[via Frank26]
The CBI tells citizens to only use the IQD and then to hold on to it – Regardless of what value it has in your hands Iraqi citizens the value will increase. The increase is coming via the float very soon. It will have more value than the dollar. If you want people to stop using the dollar you have to raise the exchange rate to give them more purchasing power and this is the goal of de-dollarization. This is the footprint we are stepping on right now with the monetary reform.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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