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Dinarland Highlights – 10.15.26
MarkZ
[via PDK]
Iraq is expected to finish their cabinet appointments on Thursday [Oct. 15] and to submit the budget by early next week. Maybe events are correlated?
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Mountain Goat
Article quote:
“The Central Bank announced yesterday, Wednesday, the adoption of new exchange rates, according to which it set the price of buying the dollar from the Ministry of Finance at 1500 dinars”
So, yes it certainly appears they did devalue the dinar by raising the rate to 1520 dinars per 100 dollars. …reaction by parliament is important because it tells us the CBI should NEVER change the exchange rate alone, even though it technically and legally can…Yes, they can but should they? There is repercussions if they do. This includes then devaluing and revaluing…All branches of the government should be included in these kinds of decisions…We see the repercussions playing out now.
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Tishwash (TNT)
Article:
“Iraqi blocs agree on Thursday vote to finalize cabinet”
Iraq’s political blocs and Prime Minister Ali al-Zaidi agreed on Monday to hold a parliamentary session on Thursday, October 15, to vote on the remaining cabinet appointments and a proposal to have four deputy prime ministers…
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Clare (KTFA)
Article:
“Iraqi Parliament to Vote on Nine Vacant Ministerial Posts Today”
Article:
“International Monetary Fund: Iraq is the highest-performing Arab country according to economic performance forecasts for 2027”
Quote:
“most Arab economies will recover in 2027 as oil exports return to normal and security conditions improve, noting that Iraq tops the list with an expected growth of 19%, the highest rate among Arab countries.“
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Reset Intelligence
Iraq’s government spokesman says the government and the Central Bank plan to bring the dollar’s street price in Baghdad down to 1,550 dinars in the near term, backed by the bank’s reserves. The bank’s public rate is 1,520. Baghdad closed Wednesday at 166,400 IQD for $100, against the bank’s 152,000. Parliament votes on the last cabinet seats and four deputy prime ministers today, and the 2027 budget is legally due in parliament.
Iraq’s government says it plans to bring the dollar’s street price in Baghdad down to 1,550 IQD, which in essence means removing the reason for the parallel market to exist. The Central Bank’s public rate is 1,520. That is a gap of just under 2%. The IMF has been asking Iraq for years to end its two exchange rates. This week Washington told the IMF to speak up on exchange rates, while Iraq’s finance minister and Central Bank governor were in Bangkok meeting the IMF. One unified rate comes first. New notes and any higher value for the IQD both depend on it. Do you see what I see?
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Jeff
[People] are telling you to ask banks to make sure they have a De La Rue machine. I recommend you don’t do that…These De La Rue machines…are money counting machines. Money counting machines are no different than cars to drive. You can go drive a Ford, Chevy, Honda, take your pick, doesn’t flipping matter. They’re all cars. These currency machines are the same d**n thing. They’re a foreign currency accounting machine that do three things – sort, count, authenticate. Here’s the problem. If you go in asking if they have a De La Rue machine, but they say they have a different brand…you just got a door closed on you. You don’t care what brand of money counting machine they have. What you care about is that they have it…Go to the bank saying, ‘Do you have the foreign currency counting machine that can count, sort and authenticate? Yes? So you can count the money and verify it within my presence, correct?’ That is how you should handle it.
Iraq’s goal in this is for all of us to be lost, clueless and confused. Iraq does not want us to know what is going on at all…
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Stephen
The amount of [Iraqi] currency outside of the country of Iraq, the currency you and me hold as investors, is roughly 1% to 4% [of the supply]. I don’t think the Central Bank of Iraq really cares about that number. It is so minuscule and small I don’t think it plays into their studies of making any exchange rate changes.
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Walkingstick (KTFA)
The IMF is demanding tight banks on the new exchange rate they’re about to come out with. 1550 is the parallel rate versus 1520 [1510?] the official rate. This is closing the gap as close as they can right now to a 1 to 1 rate. At that moment they will raise the three zeros…1550 to 1510 is within the 2%…the IMF is requiring…This is a well thought out process. There are no mistakes.
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MilitiaMan
The CBI window is a posted price not a market quote…A weaker dinar makes each oil dollar count as more dinars on the budget page…$1 billion at 1320 is 1.32 trillion dinar. The same billion at 1520 is 1.52 trillion dinar. That’s 200 billion dinars more on paper. On a full year of $100 billion oil dollars, the paper gain is about 20 trillion dinars…It’s not new wealth. The country still has the same amount of dollars. Exports did not rise. No new foreign money came in. Only the conversion number changed…It’s a wash IMO…
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Frank26 (KTFA)
Many people say it’ll take forever…It’ll take months…no they can lift it just like that <snap>…You woke up one day and it was 1500. You’re going to wake up very soon it’s going to be 1550…
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Sandy Ingram
The term devaluation and redenomination are often mixed up…What happened October 2026 was a devaluation…an official act to decrease the value of a currency against other currency. In this case the US dollar. The dinar is now officially worth less…Re-denomination is an administrative process like a stock spilt. For example, if the CBI were to remove the zeros, your 25,000 dinar bank notes would become a 25 dinar bank note. A product that cost 25,000 dinar would now cost 25 new dinars. Your purchasing power would not change. You haven’t gained any real value…The people are unhappy with the devaluation …The cost of imported goods goes way up…overnight…The CBI is focused on long-term stability, international compliance and reducing the economy’s reliance on physical US dollars.
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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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