Dinarland Highlights – 6.10.24
Mountain Goat
Iraq…when ready, they will drop the three zeros and give the citizens so many days to turn them in the old three zero notes for exchange of the new lower currency denominations. This exchange will most likely be electronic. It will be a 1:1 exchange but not like many think…I DO NOT mean one dollar for one dinar. I mean, for instance, a 25k note for a new 25 note. This is the 1:1 the CBI has talked about many times. Yes, the dinar may revalue first in-country to just over a dollar, but this is still not what the CBI meant by 1:1 in the past…the VALUE of the dinar has always been there…only when they drop the three zeros it becomes more manageable and nominal. The VALUE is still the same.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: We don’t see the budget in the Gazette. We have not had a single word from parliament…Parliament said it was to be sent to be published in the Gazette…
FIREFLY: Sudani’s making another speech…He said something very interesting. My cousin c----t it…Something very interesting before, he said the dinar will be stronger than the dollar.
FRANK: That’s right. Remember? How many times have they been saying that over and over.
FIREFLY: However, in today’s talk he said to us Iraqi citizens the dinar is stronger than the dollar…
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Jeff
At this time the budget is not published in the Gazette. The budget has not been implemented because it can’t be implemented until the court finishes their appeals on it.
The budget is approved with the dinar valued at today’s Central Bank value, 1310…That’s not a rate change…What brings the rate change in is for the current budget approval to be overturned. That’s what you’re looking for, the court’s ruling to overturn the approval which welcomes a rate change.
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MilitiaMan
You kind of need the IMF article VIII compliance and that’s what we’re waiting for which is a real effective exchange rate. I think these guys are about ready to expose that. I think al-Sudani…Alaq from the Central Bank of Iraq all of them have this in their eyes to see this come to fruition and very quickly…
Article:
“Iraq bids farewell to the list of high-risk countries”
We already heard talk about them going from a black list to a gray list.
Quote:
“Iraq’s exit from the list of high risk countries that was officially announced by the international task force last week…This step will will also make Iraq a destination and a source of interest for major International Development and investment companies.”
Iraq is on the runway and ready to go, take off.
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MarkZ
[via PDK]
“The United Nations development program has issued a 49 page report on investment opportunities in line with Iraq’s sustainable goals”
These are things to develop a very robust Iraq economy.
I have a number of historic bond contacts apts. starting late this afternoon through Wednesday morning. They expect a 1% payment. There are a lot of expectations.
Question: If Bond people get their 1% as rumored, how would you see it rolling out for us briefly hypothetically?
MarkZ: If they get their 1% this means things are well underway and we should have a better idea on what to expect for the currency side. The news throughout the weekend remains positive. We are playing the “wait and see” game to see if those bond dollars start to move.
Question: Did you hear from your Bond Contacts?
MarkZ: I do have a couple more who were told to expect theirs tomorrow…they were told today that those appointments for tomorrow are still set…and the expectations are that they will complete this time. I find this very encouraging. If we see that – I believe we can then be excited…and all bets are off on timing.
Question: How long after the bonds go will we go?
MarkZ: Most of my sources believe we will go within 3 days. That is why I watch the historic bonds and am hopeful this time.
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Nader From The Mid East
Somebody says I said the exchange rate is going to change on the budget. I never said that. I never said the budget has an exchange rate. Never said. Somebody else though been telling you that, not me. I never said that. I will never say it cuz…I don’t know if the exchange rate is in the budget or not. I don’t know. I cannot tell you, no, it is not and I cannot say, yes, it is...I never said in the budget there’s a rate change. I don’t believe in that in the first place.
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Samson (KTFA)
Article:
“Including transfers and attracting investors.. The Supreme Judiciary determines the advantages of removing Iraq from the gray list”
Quote:
“The Supreme Judicial Council identified the advantages of removing Iraq from the list of high-risk countries…”
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Clare (KTFA)
Article:
“Iraq bids farewell to the list of high-risk countries”
Quote:
“Observers and specialists in political affairs expressed their optimism about Iraq’s exit from the list of ‘high-risk countries’ that was officially announced by the International Task Force (FATF) last week, noting that the international declaration represents an important step in the correct path that the Sudanese government is taking in achieving reforms. Financial and economic along with political stability.”
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Pimpy
Let’s go ahead and address a rumor that’s going around…the exchange rate is going to be $28 to 1…When I heard that I d--n near fell out of my chair…There’s so many people kind of getting excited about…going is this real? You should ask yourself which currency out there currently is the most valuable? That’d be the Kuwaiti dinar…I don’t think it’s $3.22…You think it’s [the Iraqi dinar] is going to come out with an exchange rate of $28 to 1? Yikes.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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