Dinarland Highlights – 3.25.23
Member Question: Have you any news about Vietnam Dong? Are they still looking like same time as Iraq?
MarkZ Answer: …I know the news articles make it look like Iraq is going alone…but banking sources still say they are all going together still.
Bruce (The Big Call)
…the Iraqi citizens have been exchanging in country at a decent rate just under seven and that’s an in country rate for dinar they’ve been getting…we’re talking about the three zero notes, which would be 25k 10K 5k 1k notes…They take those notes in and get an exchange rate…times the number of dinar put into new Iraqi dinar, which is lower denominations…They’re even flying certain Iraqi American citizens over to do exchanges back in Iraq at Rafidain bank…I think that will help them to clean up all of the three zero notes that might still be in Iraq…
[Iraq boots-on-the-ground report]
FIREFLY: TV is showing the Central bank director of currency window and the CBI is on Channel One News…they’re saying the CBI is training licensed banks on the electronic platform. It’s a big deal. It’s been going on all morning…
FRANK: The CBI is educating you and training all the banks and their employees not only for internal use but right now they are preparing them for the float also. To be honest with you education is done it is the float they are teaching them…
You see an article that says there’s 70 trillion dinars out there. No. The article is wrong. It’s translated wrong. They collected over 70 trillion 3-zero notes. That’s what caused all the confusion.
“Should we exchange one smaller 3-zero note first or our 50,000 dinar note first?”
It depends on how many dinars you have. If you have a lot you have a lot of options…it depends on what you have so I can’t really answer that because we don’t know what the variable are.
”Abdullah congratulates the advent of Ramadan and confirms that the House of Representatives will continue to perform its tasks and work“
It [the Iraqi dinar rate] used to be 1190 dinars for every 1 dollar. Obviously 1132 is lower than that. So we have now passed where we were at the start of all this…The market rate is 1155 or 1158 over the 1132? That margin is much smaller than where it was before. That’s maintainable.
The next stage of the game is the final stage. That’s my view. When they reveal, ‘the direction and the plans of the central bank for the next stage to advancing the banking sector.‘ What are they trying to do? They’re trying to get deposits. They want to lend money. They’ve got to a bottleneck IMV that suggests that they’ve got to a stage when…they need to lend money. Banks have a liquidity issue. They have to get deposits so they can lend. They need to get that money that’s out there not-circulating, circulating.
Nader From The Mid East
It’s good if something happened in the month of Ramadan. Why? Because it will give you more time to change your money instead of give you one week, two weeks, 30 days. They will give you more than that. Why? Because they know in Ramadan the Muslims they’re not going to bing their money to the bank. They’re not going to make any profit from that money. They know if they make a profit of that money they’re going to give it away…
Are they conducting the project to delete the zeros to coincide with the reinstatement? They moved to taking the dollars out of the ATMs and they will only now dispense dinars. Rumors tells us they already recalibrated for the newer lower denominations and loaded them but I have to [no?] real proof of this occurring yet.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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