Dinarland Highlights – 5.2.23
Question: Is this our week Mark?
MarkZ answer: Even though I keep getting egg on my face…I do believe this could be our week.
…the Iraqi dinar…was valued at $4.04 against the USD in the late 90’s. Then it cratered with all the sanctions against it after they invaded Kuwait. Everytime they have revalued their currency over the years…they have not just dropped zeros…the value changes and you come out ahead. …They have significantly changed values 3 times over the last 100 years…Similar to the value change we are all looking for right now.
“Full Cabinet decisions at today’s meetings.”
Today they were making decisions and moving money, changing ministers and all sorts of things today. They are making decisions in today’s meeting that requires a budget to be done. This leads me to think the budget is already done and they are waiting to announce it along with the new rate.
“SUDANESE ADVISOR: THE OFFICIAL AND PARALLEL EXCHANGE RATES MATCH DEPENDS ON THIS MATTER“
I believe this is part of the process to the RV and reinstatement. My CBI contact has told me a couple times now that they must get the rate within the range necessary. The official rate and parallel market rates must match with only a small variance allowed and I quote – “If the difference between them is 2%, then it is considered a match.”
[Iraq boots-on-the-ground report]
FIREFLY: They said the CBI tomorrow launches a new campaign… making more services available to citizens like electronic payments, new bank accounts, open loans, new cards etc…all things to reduce cash…The governor announced all payments of salaries to foreign workers inside of Iraq will be done in dinars, plus all taxes and insurances must be paid in from now on in dinars.
FRANK: The national currency is about to come out and the new exchange rate. All of these things have to be set up now. You can’t introduce a new exchange rate and new currency [without these things being done first] …this is the definition of your monetary reform education…
“Financial inclusion activities will start tomorrow to introduce banking services and reduce cash flow“
CITIZEN’S MONETARY REFORM IS SERIOUS!
Financial inclusion is starting tomorrow. How long is it going to take…they said about a week…Banks are going to be reviewing banking services to customers, the use of electronic banking tools, point of sale devices which could include ATMs and the culture of electronic payments…the government seeks to generalize the experience to all public and private sector institutions…they’re basically saying if you want your new value…you’re going to have to have bank accounts. You’re going to have to do it electronically and you’re probably going to have to do it whether you like it or not…
[Iraqi Bank Friend Aki’s CBI meeting report]
WALKINGSTICK: Employees are now paid in IQD throughout Iraq.
FRANK: What does it mean? It means they’re Article VIII…that the currency of Iraq has a new value to it and they know it.
WALKINGSTICK: ATM machines are in the private banks are now linked internationally all around the world…the tender for the new national currency and the coins has been fulfilled and it will be done by DeLaRue... The exchanges that will occur through the ISX and the ESX, that date was given in order to start trading internationally.
FRANK: I’m very curious to know when that date is…!
WALKINGSTICK: The introduction of the notes and coins was given. Mining operation contracts rolling in now. All of them paid in Iraqi dinars…
Is dropping the zeros even in play here? Any articles saying so? If not, it’s going to be some time at the current rate of progress to get 1-1.5.That’s why I question the significance of becoming parallel. Is that part of being compliant that will facilitate a larger jump?
The 2nd International Conference on Real Estate and Investment kicked off in Baghdad on Yesterday May 1st. Baghdad is entertaining neighboring countries and foreign counties to encourage investment in the area. Iraq is on a roll of progress.
Nader From The Mid East
“…Foreign currency sale window platform…The growth has helped in reducing the gap between the official and parallel exchange rate significantly over the past days. The growth rate of banks participating in the platform reached 155% while demand levels raise from 42 request per week to about 1,280 requests…volume amounts for these requests rose from approximately $44 million per week to more than $490 million per week…”
I follow Mohamed Salih he’s very good. And a second one it’s the CBI.
Iraq’s doing everything they can to just tread water for now and doing a pretty good job if you ask me. Iraq has $115 billion in reserve assets. That’s awesome. Plus you add that to the gold I’d say they’re doing pretty good.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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