Dinarland Highlights – 4.16.23
…The dinar now is actually on an unofficial, highly managed “float” by the CBI but only within Iraq. I know for a FACT, not rumors or opinions, that when the dinar reaches at some point close to 1000 rate after comparing to the parallel market, they fully intend to drop the three zeros and begin issuing the newer lower denominations
We cannot confirm yet. We are being told that ALL shop owners in Iraq have been ordered to price and sell all goods in Iraqi dinars at the rate of 1310. This may be a good thing.
What happens to Iraq’s paper money once they go digital? …Only 5 countries are fully digital and these are all Caribbean countries (Bahamas, Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia, and Grenada)…The questions we have are 1. Will non-citizens be given an opportunity to exchange paper money for digital money? 2. Will there be a limit on how much we can exchange? Until Iraq joins the international monetary platform, we will be at the discretion of Iraq on how they handle paper money outside of the country.
They’re publicly making it known to everybody inside the country to start repricing in the dinar.What else can you say? Something’s coming. Something’s up. They’re already in the dinar per se at 1310, are they not? Why reprice? Well because the change is coming.
They’re at an official rate of 1310 and the parallel market has been as high as 1800. They’re going to fix that. One way to fix that is to get all the citizens goods and services…off the dollar. That is exactly what they’re doing. They’ve stated numerous times the dollar is going to be gone and the dinar is going to be the strongest. Al Sudani says it twice, people are starting to take him seriously and now that… they’re going to force people to use the dinar only in country is very very powerful.
“Will there be a cutoff date on the 3-zero notes to encourage the citizens to get their notes off the street?”
I don’t believe the CBI is going to mandate, ‘you’ve only got 3 months to bring in your 3-zero notes.’ They would be stabbing their own citizens in the back…I always use the example of the United States of America.
After the 1950’s our exchange rate started to improve. All the 3-zero notes that were in our circulation were no longer being used. Did the United States tell the citizens, ‘You know that $1,000, $500? It’s no longer legal tender after a certain amount of time.’ No. It’s still legal tender…I don’t believe they’re going to put that pressure on the Iraqi citizens …which means they’re not going to put that pressure on you to trade in your 3-zeros either.
[Sudani and CBI’s stacking up over the weeks]
1. Hold on to your dinars.
2. …soon you will be exchanging them for your new national currency.
3. …soon they [dinars] will have value.
4. And finally today, Iraqi citizens your currency is worth more than the American dollar.
What!?! : )
“Chambers of Commerce: Dollarization of markets has decreased and the exchange rate will reach 140“
“the use of the dollar in trade exchange and debt repayment at home, or what is known as market dollarization, fell by 10% for the first time in many years, and the demand began to be greater for the adoption of the dinar in ending transactions and exchanges between traders within local markets… The markets of Diyala and the rest of the provinces are witnessing a remarkable decline in the exchange rate of the dollar recently…”
Iraq is working diligently to createthe economy needed to float the dinar. Hopefully, within year or two they will be in a position to begin to float…owning Iraqi dinar is not a lottery ticket there is no overnight significant increase in the dinar. …It’s going to take time but only with the success and growth of their economy will the dinar go up. They do have a plan, it just takes time. The economic success of Iraq will proceed any increase in value. And the value increase will be a direct result of the success of that growth…Hopefully in the next month or so we will see the budget pass, then some important legislation will follow.
“The Central Bank of Iraq is in the process of expanding the network of banks to provide service in different currencies such as yuan or euro“
“there is a desire by solid international banks to enter the Iraqi banking sector and work inside the country.”
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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