Dinarland Highlights – 4.12.23
Mountain Goat
The financial advisor to the Prime Minister, Mazhar Muhammad Salih commented, on Sunday, on the continued decline in the exchange rate of the dollar in the parallel market…The first step is for the parallel rate to match the CBI rate of 1132…we don’t know, and even the CBI does not know, how long this change will take…Saleh also stated that at the same time, the rate of the dinar is supported by large foreign currency reserves, which are the highest in the country’s financial history. All of these factors are gradually shrinking the gap between the two prices…
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Today we hear they are working on the monetary items to improve our exchange rate. This is getting exciting. Everyday they’re giving us more and more information. It’s pretty obvious of what’s about to happen. Now they are telling us the exchange rate is moving from 1460 to 1132.
FRANK: …don’t worry about the exchange rate…The program rate is reducing down to 1130. None of that matters. What matters is the Iraqi dinar is being mirrored to the USD, de-pegged and put into an international basket…it will launch the Iraqi dinar into a brand new stratosphere…
You’re going to see another rate change just before they get to the 1 to 1. One to one is the mirror effect they are educating you about right now. And then it enters the float at an international level. Remember, Iraq will become a currency central hub…
If you’ve got a small amount of Iraqi dinar it’s easy to consider when to exchange your currency because you’ve just got a small amount. If you’ve got a large amount you can afford to do calculations of when to hold’m and when to fold’m.
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Pimpy
Article:
“Sudan Advisor: Central Bank succeeded in Increasing the strength of the dinar and began to approach the parallel price”
This is good news. We like for them to continue to strengthen the dinar…this is awesome news. That what you want to hear. Let’s hope Iraq continues to do exactly that – strengthen the Iraqi dinar.
We will continue to pay attention to the market. We’ll continue to monitor the dollar drop against the Iraqi dinar. But be prepared for the Biden Administration to pull another trick out of their sleeve, either by using their Fed or other means to try to make the US dollar look strong and powerful and to stop the decline of its purchasing power so they could look good right in time for e*******s.
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MarkZ
[via PDK]
Expectations are HUGE for today, tomorrow and Friday. I was hoping we would have seen factual movement of money by this morning… So far it is just chatter…but that chatter has gotten enormous. I have seen a lot of positive banking stories…from tellers and bank personnel telling you that there is something massive coming and our currencies are going to be worth a lot!! It sounds really good but still waiting for somebody to have money. The news however, has been overwhelmingly positive. We need to stay grounded and see what happens today.
This is a big one… ”The Iraqi Trade Bank decides to adopt the dinar “only” in its electronic financial transactions” De-Dollarization. This is big.
The most excitement I’ve seen today is from west coast bankers…. They believe everything is done in Iraq. And that we will see the new rate very soon. The bankers think we may see it over the weekend.
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Nader From The Mid East
All we need is 1000 to 1. If we were 1000 to 1 believe me a week later we’ll be 1 to 1. So wait for 1000 to 1. It’s coming soon.
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Breitling
You don’t need as much oil as you did back in the day. Everything is becoming more and more and more efficient. They see that trend. That’s why Iraq doesn’t want to be in that $0.30 range and depend on energy. They need a currency that supports the foundation for their energy markets and they also need a currency that can help them invest in completely different sectors so they can diversify. That’s why they want it way above the $0.30 average that everybody else has in that region…they want to go a lot higher than that…my strategy is up to a buck. Beyond that I don’t know.
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Walkingstick (KTFA)
[via Frank26]
They are telling you what they are doing with the monetary reform. In order to teach that they are keeping the 5k notes, tells us that the 50, 100K will also go away too. It’s all going in the right direction. The monetary reform this week got very loud, very clear and closer to the end. The exchange rate is going in the right direction…
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Clare (KTFA)
Article:
“The Sudanese advisor comments on the continued decline in the “parallel” price of the dollar”
Quote:
“The decline in the exchange rate of the dollar in the parallel market and its start to converge towards the official exchange rate is mainly due to the success of the monetary policy of the Central Bank of Iraq…At the same time, it is supported by large foreign currency reserves, which are the highest in the country’s financial history. All of these factors are gradually shrinking the gap between the two prices,”
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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