Dinarland Highlights – 5.17.23
It would now seem the RV is in the hands of the CBI, and no longer waiting on anything from parliament. Hopefully, we will see an RI/RV release soon!!!
“Iraqi stock exchange achieves the first place in the Arab world in the volumn and rate of daily trading.”
This is huge. Iraq is positioning itself to be the cultural hub of the middle east. Unseating Saudi Arabia, Qutar and the entire region…this tells us where Iraq is heading in terms of a valuable currency.
What we are seeing and what people on the streets over there are telling me (people that live there and work there) is that they are seeing a very wide floating range…1100-1150 is what many are insisting on. Even contractors who get paid from one day to the next are having to renegotiate their rate because it is constantly changing. It is floating, changing and moving. Is it officially on a float…according to the CBI – no. But according to people on the streets who are experiencing the float – yes.
No news from bankers…They are being leaned on to be exceptionally quiet. They did have expectations for yesterday and this morning…they feel like they are on a minute by minute watch. Even my redemption center contacts are watching minute to minute right now. I hope it is accurate and really that close.
“CBI sells +$216 million in forex on Monday”
This just means they sucked a tremendous amount of dinar off the streets. From foreign people trading things and buying things. $216 million in USD is $281 Billion in Iraqi dinar that was pulled off the streets. We are watching them do everything they need to do to increase the value of the dinar…they are preparing for it.
[Iraq boots-on-the-ground report]
FIREFLY: They’re talking about how the oil and gas laws are in the budget.
FRANK26: Wow HCL! No wonder you’re not using the dollar.
“Iraqis banned from trading in US dollar“
They banned the American dollar. They can’t use any foreign currency inside of Iraq. What does that tell you? They’re preparing to introduce their new national currency paper along with a new exchange rate to match it. They’re called lower denominations.
When you see all the things they’re doing you can’t help but scratch your head, how? Your currency is worth nine tenths of a penny compared to the American dollar. How? …These next few days when they open up the budget it’s going to open up a new chapter.
“Central Bank attributes the reduction of the dollar exchange rate to the increase in cash reserves and electronic platform“
What the cash reserves do, it allows them to flood the market with a competing currency therefore driving down the exchange rate slightly. In this case Iraq’s parallel Market, people were given up quite a bit of dinar to get the U.S. dollar. And what that does is affect the official rate.
Yes, I heard there’s an extension to executive order 13303 and everybody’s losing their mind. ‘This must mean something. What is it Pimpy? Has something to do with the dinar.‘ … No it doesn’t say anything about the currency…the executive order that was signed that everybody keeps talking about it allows you to invest in the country…it’s the American’s way of protecting the money that has been generated from oil and gas revenues over in Iraq…
It’s the same gibberish going on out there. How many millions of different times can you say that we’re just waiting for the budget to be approved?
“The governor of the Central Bank comments on the recent rise in the dollar exchange rate“
He pointed out that those who go to buy dollar from he black market…may experience problems in the transactions they make. It sounds as if Iraq got the message loud and clear from the United States…We do not know how this will affect the exchange rate in the future…
When Iraq initially changed the rate to 1310, it showed up for the first time internationally March 28. At least on the two boards I can see. From that point, it would be 1310 for a day or two then back to 1460 for two or three days and then repeat that cycle until May 2. May 2 it was 1460 and changed to 1311 on May 3. Wednesday May 3 to now…. it has flatlined at approximately 1310. I think this could be considered stable. Next step please!
[Response to Frank26’s FIREFLY HCL in the budget report below]
Not at a program rate. It will not work with the accounting. The knowledge of the HCL in the budget is not a clue or a hint about a new exchange rate, it is a fact of the monetary reform education to the citizens.
“Al-Rafidain directs the collection of taxes and customs fees in Iraqi dinars”
“Al-Rafidain Bank directed its branches at the border crossings to collect taxes and customs fees in Iraqi dinars instead of dollars…The bank also decided that the receipt of the stamp fee will be in Iraqi dinars, noting that this step is in support of the national economy and strengthening the currency of the Iraqi dinar.”
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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