Dinarland Highlights – 7.13.23
Mountain Goat
Article:
“AL-NUSIRI: IRAQ’S ACCESSION TO THE WORLD TRADE ORGANIZATION CONTRIBUTES TO THE DEVELOPMENT OF THE FINANCIAL AND BANKING SYSTEM”
Quote:
“one of the most important returns and benefit achieved by the financial and banking system in Iraq from Iraq’s accession to the full membership in the World Trade Organization is regularity in the global financial system…”
come’on folks can it get any better than this?
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Clare (KTFA)
Article:
“Parliamentary Finance: The price of the dollar will decrease after the implementation of the budget“
Quote:
“The Iraqi dinar will gradually recover and decrease dramatically against the price of the dollar...He added, The exchange rate of the dollar in the parallel markets depends on the principle of supply and demand, and the start of implementation of the 2023 budget will mean the release of large sums of money that will lead to a greater increase in the purchase of the dollar.”
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Breaking news Parliamentary Finance…
FRANK: Parliament Finance? Boo! Okay what about them?
FIREFLY: Says next Sunday they will start the allocations of the funds for the budget and instructions on certain projects.
FRANK: 6 days they’re going to give you instructions on the budget? ...the new exchange rate that is the instructions for all the projects that’s inside of that budget for the next 3 years…everything waits for the new exchange rate.
FIREFLY: Television is telling us our population here in Iraq has swelled to 43 million. They’re talking about the mechanisms to help support the dinar and how to get away from the dollar.
FRANK26: …You know what the mechanism is. To support the dinar, a program rate is not a mechanism. The program rate cannot support the dinar. And to get away from the dollar – so they can introduce the new mechanism, the new exchange rate.
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Kaperoni
[Follow up to yesterday’s Kaperoni community comment post below – 1300 IQD to $1 USD vs. 1 Jordanian dinar to $1.41 USD] Also want to remind you that Iraq has trillions of dinar in circulation vs Jordan who has millions. Big difference. Iraq could never afford to significantly raise the value without reducing the money supply.
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MarkZ
[via PDK]
We do know Iraq is moving forward and dotting all the I’s and crossing all the T’s and trying to get from under the US thumb so they can change their value of the IQD. I am hearing very positive stuff for Sunday…But, that doesn’t mean that is when it’s going to happen…but that’s when they plan on opening all the coffers from the budget. That is when most of my contacts think it could go.
Member Comment: [Guru] Walkingstick owns a bank in Iraq…said that big CBI meeting with the big three took place today or yesterday. They were given the timing of the release. Value, Note count and type of denominations. MarkZ Response: That would certainly explain why there is a sudden flurry and conversations over the last couple of hours…Rumors that “a dam has broken” in a good way… Contacts are giddy about the 15th through the 18th. So this news would make sense. I can’t say if its accurate or not but it would explain all the chatter that has suddenly erupted within a short time…
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MilitiaMan (KTFA)
The Iraqi Central Bank has many measures, packages as they put it, in place and have been in place to curb the i-----l parallel market that everybody seems to talk about. The bottom line is if they adjust their exchange rate to be and exceed the US dollar that pretty much is going to go away.
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Yada (TNT)
Article quote: “…Through our follow-up with the Ministry of Finance, next Sunday, allocations to the governorates and ministries will be launched to implement the 2023 budget and send instructions for implementing the budget, its schedules, texts and agreed items…” The instructions, is another name for the Rates.
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Walkingstick (KTFA)
That CBI meeting with the big three took place today [yesterday]…they were given the timing of the release, value, note count and type of denominations.
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Nader From The Mid East
Economy, Economy, economy, that’s what’s going to drive the dinar up.
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Enorrste
Article Quote:
“JP Morgan had previously handled the process of financial transactions for Iraqi trade with China…“
Isn’t that amazing. China and the United States, two of the biggest trade people into entire plant, and Morgan has invested China to participate with America to go into Iraq. It doesn’t get bigger than that. That’s the two biggest traders in the world. Wow.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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