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Dinarland Highlights – 10.13.26
Mountain Goat
the Iraqi fiscal year begins January 1st not October 1st…The budget for the next year must be ready by the end of October and then passed in parliament by January 1st ready to use. They are given 2 months to discuss and get it passed…
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Ariel
Three Things To Note:
1. The budget must contain a usable exchange rate to calculate revenues, expenditures, and allocations.
2. If the budget is being drafted right now and set for submission by mid-October, it must use the exchange rate that will be operative during the 2027 fiscal year.
3. Iraq cannot submit a budget using the [1510] rate if it plans to change that rate before January 1, 2027 doing so would require a complete budget rewrite after the RV, collapsing the entire legislative timeline.
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Jeff
They’re trying to narrow and tighten up that parallel gap between the dollar and the dinar and devaluing it. It makes the dollar more desirable. So people want the dollar more than they want the dinar and that limits the exchange rate fluctuations. This is what you’re witnessing them doing…Everything is moving in the right direction. They’re getting very close to changing that rate.
The new prime minister is Trump Jr. He was put in by Trump. He’s a businessman. He’s a banker. He knows exactly what’s going on. There is nothing more than a short-term effort to suck in dinar notes. This [devaluation] doesn’t scare me, doesn’t concern me. I see this as strategically timed and coordinated. Till they get to around their scheduled rate change period, then they’ll do something to overturn this, make everybody happy, put the exchange rate back to where it was, and bam, it’s over and done.
Iraq is not going to go very far at 1500. They can’t fund or hardly get the budget approved from the angle of a program budget at 1500. It’s not happening…They said the budget would be sent to parliament …10/15 for approval. That’s going to let you know a lot…If you don’t see the budget to go parliament…1500 doesn’t work in the budget…
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Samson
Article:
“THE PARLIAMENTARY FINANCE COMMITTEE : THE 2027 BUDGET WILL ARRIVE IN THE MIDDLE OF THIS MONTH”
Article:
“THE WORLD BANK SHOCKS IRAQ WITH DIRE FORECASTS: A 12.4% CONTRACTION AND THE EVAPORATION OF $23.7 BILLION IN RESERVES”
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Stephen
There is a plan in place to issue new denominations with the zeros cut off. Most people are watching a devaluation and thinking the RV isn’t happening. This past August…Iraq ordered 7.5 new banknotes. Iraq is regaining control of its currency…It looks like all the dominoes are falling exactly how they were designed to fall…
Last week was probably one of the busiest and craziest news weeks we have ever seen in the dinar community. As someone who has been in this investment for 15 years this is saying a lot. We are in the most exciting times. If you are invested in the Iraqi dinar I don’t see how you cannot be very very optimistic…A lot of exciting things are coming together and playing out the way a lot of us expected this to play out in these final days this investment does come to fruition.
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Reset Intelligence
A bloc in Iraq’s parliament has asked the Federal Supreme Court to reverse the cut to the IQD. The bloc is tied to Kataib Hezbollah, the armed faction that has not yet put its weapons under the Iraqi state. Baghdad made the cut to keep salaries paid and to end the parallel market / street rate. The faction that fought Baghdad over its weapons is now fighting Baghdad over the IQD to keep their skim alive. The same court threw out a challenge like this in 2022. We expect the court to throw this one out too.
The official Iraqi dinar exchange rate went from 1,300 / 1,310 / 1,320 to 1,500 / 1,510 / 1,520 IQD per US dollar, effective October 7, 2026…The dinar lost about 13% of its official dollar value. Put the other way, a dollar costs about 15% more dinars. Is this the RV? No. It is a cut to the domestic rate, the opposite direction from a revaluation. Were the zeros deleted? No. The decision does not mention the zeros, new banknotes or any later rate. The Central Bank can change the rate whenever it decides to, and no central bank announces its next move.
Did you lose money? In dollars, on paper, a little. In notes, nothing. You hold the same number of notes you held on [last] Tuesday. At the old public rate, 1 million IQD was worth about $758. At the new one it is worth about $658. That is roughly $100 less on every million. A single 25,000 dinar note went from about $18.94 to about $16.45. No holder we know bought IQD to sell it back at the official rate. The reason people hold it is a far larger change in value, and a 13% step in either direction does not settle whether that comes.
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Clare (KTFA)
Article:
“The Central Bank reveals: 70% of government spending translates into demand for dollars”
Quote:
“The Central Bank of Iraq confirmed on Tuesday that its current mission is to maintain the value of the Iraqi dinar against foreign currencies…“
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Frank26 (KTFA)
It is an amazing coincidence that banks across America are getting new De La Rue machines sent to them. I don’t know what it means, but I know they got the Iraqi dinar in the first place [on the currency selection screen].
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Guy
Don’t mention name brands of machines [when you go to the bank] like De La Rue. Do not ask a bank, do you have a De La Rue machine? That’s only 1 of 3 major brands that make stand alone machines that count, certify, authenticate currencies…Don’t get into that. That’s not your business.
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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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