Dinarland Highlights – 11.4.23
Here is another one that is putting pressure on this “re-valuation” “Amid war on Gaza – Egypt see highest exchange rate on US dollar in black market” So in the middle east the dollar is gaining and will cause regional issues and inflation. They are painting themselves in a corner without a reset. They need rate changes.
Chatter continues to be great and we will see if anything happens over this weekend. We have a lot of group leaders that seem to think this is it.
Things are still looking really good for Iraq. They still manage to be keeping their nose out of what’s going on over there in the Middle East even though it starting to escalate…
I still think they’re going to go in increments but that doesn’t mean you won’t wake up one day and all of a sudden you find out the damn exchange rate’s been reinstated…
…in the news is yet more de-dollarization efforts as they convert the remaining of the border crossing stations all to “all dinars” only for custom fees. The Parliamentary Finance Committee renewed on Tuesday, its support for the Central Bank’s measures to control the exchange rate and address any obstacles...we learned that the new government of Al-Sudani made promises in his administrations curriculum to bring back the dinar stronger than the dollar. Is this why he has openly in public stated the dinar is already stronger than the dollar? Well then…where is it? As investors we wait for it.
Things are happening on the banking side…
“Visa Direct tool…simple transfers for the citizens. The tool facilitates the demand for foreign currencies.”
Not just the dinar, Not just the dollar…They’re talking about 160 currencies. That’s what they said. It’s not my words…That’s a lot. That’s phenomenal. That means what? Iraq is going international with up to 160 currencies…
Back at the U.N. assembly they talked about the fact that Iraq was going to be bringing confidence to banks like JP Morgan and they effectively fix the financial system of the world. Iraq is going to be one of those countries that’s going to help do that and I’m looking forward to it and I hope you guys are too…
[Community Member Bank Story]
I was in Philadelphia, I went to Chase to deposit money and decided to ask if they exchange foreign currency, the branch manager immediately had me talk to a private banker who set up an appointment for me and my husband to speak to a private banker in wealth management… we went yesterday we’re treated so nicely! We were told they currently exchange Dong along with other currencies we hold. She knew all about the IQD and we were told once it’s on OFX – FOREX and the rate changes to call and they will have everything set up for us to come in and exchange. A truly wonderful experience. The bank is in PA.
“Are the new small category notes the next thing Iraq needs to move the reinstatement forward?”
No, the exchange rate IMO. Although it would be nice to have them both come out together.
“The Iraqi Central Bank is moving towards the US Federal Reserve to increase its dollar transfers”
Just because the value increases against the US dollar does not mean the currency will be on the Forex market and just because the Iraqi currency increases in value also does not mean we as investors will have access to the currency.
SOME CURRENCY REGULATOR TYPES ARE “AGAIN” SHOWING UP EARLY TO WORK TONIGHT…WORKING THE NIGHT SHIFT, LOOKING FOR SOMETHING TO HAPPEN. TIME WILL TELL.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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