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Dinarland Highlights – 6.26.23
Babysmom
“The Iraqi Gazette publishes the general budget law“
CBI HAS NOT YET CHANGED THEIR RATE. THAT WILL BE NEXT UP…THE NEXT STEP IS THAT THE CBI WOULD CHANGE THE RATE IN COUNTRY, THEN THE RATE WOULD CHANGE ON FOREX, THEN WE COULD EXCHANGE BECAUSE THE BANKS GO WITH THE FOREX RATE AS THEY’RE OPENING GUIDE…
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Clare (KTFA)
Article:
“The Ministry of Justice announces the publication of the General Budget Law in the Iraqi Al-Waqa’i newspaper”
Quote:
“- Law No. (13) of 2023 The Federal General Budget of the Republic of Iraq for the fiscal years (2023-2024-2025)”
“Iraq reduces its holdings of US bonds to more than $6 billion“
Quote:
“Iraq’s possession of US bonds in January amounted to 41.2 billion dollars, to decrease to 40.7 billion dollars in February, to decrease to 39.3 billion dollars in March, and to decline again in April to 34.8 billion dollars, indicating that Iraq’s possession of US bonds is in The month of January 2022 amounted to 40.8 billion dollars. She pointed out that Iraq was the fourth largest Arab country in the largest possession of US bonds, after Saudi Arabia, the UAE and Kuwait.”
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Pimpy
Now that Iraq has posted in the gazette, the budget, that makes it official. Those are the people that keep the official records for Iraq, so we are good to go…It’s definitely going retro.
Article:
“With the EID approaching and the markets booming, the dollar is flying in the sky of Baghdad”
If I can go out and get 1475 dinars for every dollar I would rather go to the black market and get more dinar. This way when I’m shopping for the holidays I could get more goods. It’s better than going to the exchange rate and getting 1300 dinars for every dollar. That just makes sense. The more the US interferes in this the more demand there is for US dollars then the higher the exchange rate [for US dollars – this is bad for us] goes up. If I’m a trader or doing business in Iraq I’ll take my US dollars to the black market and get more Iraqi dinars…pay off more debt, go shopping like these people are here…
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Frank26 (KTFA)
The purchasing power of the Iraqi dinar is visible inside of Iraq right now and investors outside Iraq can also see this. Everybody knows. It’s no longer a secret. Investment outside of Iraq versus purchasing power inside of Iraq. It’s equilibrium…
the HCL is about to be born. If was born at a program rate it would be like a preemie being born at 5 or 6 months. I just won’t succeed…
Question:
“With the new currency will we have a new rate?”
Yeah. When the new currency comes out that they’ve been talking about it will definitely have a new exchange rate in order for it to work. It certainly can’t work at a program rate can it.
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MarkZ
[via PDK]
No rate change yet. But imo the budget was the last step…Now we need a rate that will allow them to “E*****e “ their budget. There is a lot of anticipation for “Any Moment Now” since the budget is done. I am being told they need a day or two at least to make certain rates have completely stabilized after the budget news…I am praying this is accurate. But everyone believes the budget was the last major hurdle to get past. This certainly is the belief of all my banking contacts and my contacts in Iraq.
…the rate is not in the Budget or the Gazette…It was not expected to be. The budget was in the Gazette today…which was the first step…and in the budget is a mechanism that lets them change the rate. Rumors are that on Wednesday we are going to see something…. Lots of chatter things will be cranking up on Wednesday…like a value change for the dinar…crossing my fingers and hoping its right…I have heard from sources…some are looking at this Wednesday the 28th Some are looking at the 3rd. Either way it definitely appears to be close. We should all be excited that the budget was finally posted in the Gazette.
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GameofPatience
The HCL is still an UN-APPROVED Reform Law, needing to be Approved.
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Henig (KTFA)
[Response to GameofPatience below]
Unless it was part of the budget.
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Sandy Ingram
The new $153 billion budget covers the years 2023 to 2025 and includes sizable spending on development and infrastructure projects and plans to add tens of thousands of public sector jobs. Yes, this will help to reduce the unemployment rate.
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Nader From The Mid East
Iraq is getting ready to print new category of money. I don’t know how long it’s gonna take to print them and all that. We see. They said cost almost $50 million or something like that to print the new. It’s a good news too. I don’t know what’s gonna happen.
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RVAlready (TNT)
The lower denoms will not be a holdup. They have been printed and ready for several years.
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MilitiaMan (KTFA)
If everybody’s not stoked on this I’d be surprised because what we were seeing Iraq do in the last few days…is phenomenal. I think it’s great.
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Walkingstick and Frank26 (KTFA)
IOO everything is going to be done all at once now that we have the budget. Once you c***k open that piñata it’s gonna give us everything – the new small category notes, the exchange rate, the ATMs, HCL, everything. It’s illogical to break it up and give us this part now and another part a week from now and then the rest later. No. Everything, boom all at once.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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