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Dinarland Highlights – 6.25.26
MarkZ
[via PDK]
Article:
“Priorities of the new Central Bank Governor : Implementing Oliver Wyman’s criteria is of utmost importance”
An integrated banking system and no dollar restrictions. They also want us to know they will be managing the “Exchange Rate”. There is a lot of back and forth on this one. Similar to what we saw in Kuwait and China days before their last revaluations.
Article:
“Al-Aboudi: the government and the Central Bank adopt a flexible approach to the exchange rate”
They are letting us know they can change it based on needs. Then the Iraqi government says, “There are no plans to change the national currency or remove three zeros from the Iraqi dinar at this time.”
We also heard this the morning Kuwait revalued. We have the Iraqi government telling us one thing and the Central banks telling us another. We were told the RV is now in the hands of the Central Bank of Iraq and they do not need the government at all.
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Mountain Goat
I believe we are closer than ever for the dinar to get reinstated. But first things first…certain laws in Iraq must be passed. Certainly, reviving the economy to at least 45%-50% non-oil revenues could make a huge difference for Iraq and the IMF. By now everyone should be fully aware of these events that caused delays in the currency reform process.
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Bruce (The Big Call)
[via WiserNow]
…things that we’re getting are telling us that this week is looking excellent…We believe we are in the week for us to begin… we have a lot of people that are in agreement that things are supposed to pop for us.
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Reset Intelligence
Bessent…walked through who is coming back…Venezuela, sanctioned and shut out, is coming back to invoice in dollars. The Iranians…”will be invoicing in dollars.” Russia…would want back in once the war in U*****e ends…The sanction is the stick. The dollar is the door. Clean books are the toll…Notice Iraq was not on Bessent’s list…because Baghdad is furthest along that road…Venezuela and Iran are being told to do what Baghdad has already spent more than 3 years on. Washington cut off many of Iraq’s banks in late 2022. Iraq has been rebuilding its dollar access under American supervision ever since, working down the checklist…On June 22 the central bank said its restricted banks are in the final stages of reintegration, and in the same breath denied any plan to change the exchange rate. That denial is the tell.
For weeks the only question out of Baghdad was who. Who runs the central bank. Who fills the empty chairs. Today it turned into when, and Baghdad answered. Al Hikma, one of the blocs holding Iraqi Prime Minister Ali al-Zaidi’s coalition together, confirmed a special session of Iraq’s parliament for July 5 to seat the last 9 ministers. By the middle of July, al-Zaidi is on a plane to Washington…Swearing-in now has a deadline, and the deadline is a flight…A date this specific, tied to a trip this public, is a firmer promise than the open-ended waiting of the last 6 months.
When a currency like the dinar finally reprices, the gain goes to the people who were already positioned before the announcement. The ones who wait for the headline are too late. Holding dinars today is a bet that Iraq is near the front of that line, and on Wednesday that line looked shorter than it has ever looked.
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Jeff
Article quote:
“It has been officially announced Prime Minister Zaidi will visit Washington on July 15th for important working talks with the US president and administration. The main item on the agenda is discussing strategic economic cooperation.”
Can’t do that at 1310. You can’t have strategic economic cooperation at 1310 with the United States… You can’t attract major American companies at 1310…The whole reason they’re going to the United States is after the rate has changed for freaking international business. It doesn’t get any more transparent that that. Very good article.
Question:
“Is there a chance the rate can come in higher than $3.22?”
I believe it’s going to come around $3.80. So, yeah, I think it’ll come out slightly above $3.22. I think it’ll be $3.22 plus cost of living increases in there. And one thing you have to look at too is historically Iraq has always been slightly above Kuwait…Where’s Kuwait today? $3.24…If Iraq has always been slightly above Kuwait for many, many, many years…it’s probably fair to assume when this happens, Iraq will come out above Kuwait again…
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Clare (KTFA)
Article:
“An economist says the government is hinting at the possibility of adjusting the exchange rate in the future”
Quote:
“…the government spokesman’s statement does not include an explicit announcement of a change in the exchange rate, but at the same time it does not close the door to a review of monetary policy in the future, especially when he spoke about flexibility in managing the exchange rate and linking it to the requirements of economic growth…if there is a move towards adjusting the exchange rate, it is too early to talk about a specific figure, but any possible change will most likely be limited and gradual to avoid inflationary shocks.“
Article:
“Rubio: Al-Zaidi sent good signals to Washington, and the issue of Iraqi sovereignty will top the agenda of his upcoming visit”
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Stephen
Iraq is moving faster than I’ve ever seen them move before. They are rooting out c********n at levels I had never seen before. It all makes you wonder, hmmm, the timing is all very interesting. We have the Prime Minister Zaidi going to Washington in the middle of July. A lot can happen between now and the middle of July…If this much is happening on the surface and they’re disclosing this, what’s really happening behind the scenes? That’s the exciting part.
We have a lot of exciting things happening right now in the Central Bank. The new central bank governor did take over as of today. It looks like they’re moving at warp speed. I think the next 30 days are going to be quite exciting…
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Walkingstick (KTFA)
[Iraqi Bank friend Aki update]
At 3:00 in the morning, Aki told us get ready because the lower notes and the new exchange rate is coming.
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Samson
Article:
“CENTRAL BANK OF IRAQ : REINTEGRATION OF DOLLAR-DENOMINATED BANKS IS IN ITS FINAL STAGES”
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Sandy Ingram
People might tell you the core difference between Western banking and Islamic banking is one of the reasons surrounding the IQD currency adjustment. But that’s not true, at least not anymore...The Central Bank of Iraq can operate both banking systems at the same time. They are much more advanced in their banking reform than we realize…Many countries including Malaysia, UAE, Saudi Arabia, Qatar have conventional banking and Islamic banks operating under one central bank. Therefore it was no big deal for the CBI to implement the same system…
In Islamic banking, the bank holds more responsibility for the financial growth of its customers… Speculative investment is big business in the Western banking world…However in the Islamic world of banking, ‘excessive uncertainty’…is prohibited…Iraq has a stock market …But I’m very much concerned about the Forex market… because if…Iraq… views the forex market as ‘excessive uncertainty’ they would not join the forex…A closed currency means the currency is only traded and used within the country…This is why you don’t see Iraq jumping to situations that…resemble a currency value increase to the level we are looking for…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
https://www.dinarguru.com
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