Dinarland Highlights – 4.18.23
In Shafaq News, the Governor of the Central Bank of Iraq Ali Al-Alaq, on Thursday, that Iraq is on alert to adjust the exchange rate of the dinar…
The IMF and the World Bank recently met with an Iraqi delegation held in Washington, D.C…the meeting witnessed deliberation in the economic and financial goals that the Iraqi government is working to achieve. One of which was the future monetary policy of Iraq and the currency reform…Then articles…come out this week…quote – “The Iraqi dinar continues to make gains at the expense of the us dollar exchange rate” and then on Monday, Prime Minister…al-Sudani indicated that the value of the Iraqi dinar will rise against the US dollar during the next few weeks…Folks we are heading for the long-awaited reinstatement of the Iraqi dinar to FOREX not as a placeholder but open for business full trading…How could the news possibly get any better?
Question: What do you think the dinar rate will be?
MarkZ Answer: With a combination of what my gut is telling me…charts, and conversations…I believe it will be somewhere between $4.20 – $5.35… After many conversations that is what I think we are going to see. But I could be way off and completely wrong.
Well it was cooking in Iraq last night with expectations of more cooking in the next few hours again…I am hearing the Iraqi Parliament may call a late session for the third budget meeting late tonight. If not, I am being told that session will be opened for it tomorrow. They went into the wee hours last night to pass the second reading. The HCL in the budget is supposed to go into effect in days telling us they do plan on having everything done…pretty exciting news over there.
“Iraqi official states Kurdistan oil exports could restart within days”
…This is important because they won’t resume until they have the HCL law. The section 140 hydrocarbon law. This is a big piece of news because if they are resuming…this means the HCL and the budget is done…It’s all been agreed to- they just need to announce it. It’s going to be a great week…an interesting week…Try to stay sane this week…it may be full of ups and downs.
[Iraq boots-on-the-ground report]
FIREFLY: The CBI governor…is saying the CBI is on high alert to change the dinar exchange rate. He is saying this on News Channel One…He’s saying do to the auditing transfers of the hard currency. This has to be done.
FRANK: He’s talking about the float.
“The convergence between the official exchange rate and the parallel market rate is a positive reflection of the national currency, and the coming days will witness a greater acceleration in its decline.“
What you’re saying is there are two rates in your country. One of them is based against the dollar. And the other one is based against jerks who want to inflate your currency…what have you done? Controlled it. How? Having an internal float. The controlled float is being done internally right now, they are talking about the + or – 2%-3% compliance. This is removing all restriction on the national currency of Iraq!
FIREFLY: This has never happened before. The CBI has never come out on television, on our media and said ‘A rate change alert‘. This is amazing to hear.
FRANK: It doesn’t get any better than that! …The streets are ablaze. We’ve got some serious fire here with all the talk of a new exchange rate coming to us and a new currency with coins. It’s not a rumor any more is it…there are no secrets between the citizens of Iraq and the CBI monetary reform..
…I believe we are very close…before/during Eid and expectation of the rate release before the budget is finalized, EID is this weekend, 2nd reading yesterday…
…Al Sudani stated this weekend that there was going to be a rise against the dollar with the Iraqi dinar. So the Iraqi dinar is to increase. If you remember back about a week or two ago, maybe a little longer…he says, ‘...we reassure the citizen to not acquire the dollar because the dinar is the strongest”. It’s open public information that he’s telling his citizens be careful using the dollar. Don’t get rid of your dinars…He not only said it once, he said it twice…
They want the citizens to know their new national currency will be stronger than it’s ever been – Stronger than any currency that they have ever been using because the American dollar is tumbling and Iraq is going in the opposite direction.
Nader From The Mid East
I give the news. I just like the news from the TV, from the radio and give it to people. It’s not an opinion.
“How rich is Iraq?”
…The world proven oil reserves, and Iraq 12%. If oil in the ground is money in the bank, Iraq is wealthy. Iraq can produce 2 billion barrels per year. At $100 per barrel, that oil would sell for $200 billion…If Iraq sells a quarter of its potential reserves at an average price of $100 for the next 20 years, that would generate 90 billion x $100 = $9 trillion…If Iraq invests only a quarter of its oil revenue for the next 20 years, it will match current US productive assets per capita…These calculations do not include natural gas revenue, lately about equal to oil revenue. Also, most of Iraq has not been explored for gas or oil…By this I’d guess…filthy rich. Keep in mind this is only oil.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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