Mountain Goat
This week I had an interesting conversation with my CBI contact in Iraq. I was told to expect yet another “official” rate change of the dinar from the 1320 rate. I was told the new measures were trying to get as close to 1000 rate as possible. I asked about a more specific number, but I could not get a commitment on the actual range. However, I was told that the measures to be taken in the coming weeks should move the dinar within this range.What is the plan once this new rate range is met? I was told that the CBI could then go ahead with the project to delete the zeros. We know that when this new rate is rolled out the CBI will then drop three zeros from the currency. It was my feeling that they are heading to around an 1166 from 1320 rate so we are not that far to go and these new measures should take them to the rate they need.
In today’s news the CBI tells us that on Thursday (August 3, 2023), the Central Bank of Iraq revealed new decisions that will be issued next week to reduce the price of the dollar in Iraq…We know this is the fourth time the CBI told us they were implementing a package of currency reforms…
MilitiaMan (KTFA)
Article Quote:
“The Deputy Governor of the bank…promised yesterday other decisions will be issued next week that may contribute significantly to reducing the dollar exchange rate.”
They’re talking about reducing the dollar exchange rate. They can do it in the official sense or they could be considering that to be in the parallel market sense. IMV…the quote for the black market or the parallel market…were fake. Basically the corrupt were cheating the corrupt and some of them were complaining…there’s something happening next week.
Article Quote:
“…the printing of the Iraqi currency will not be random...there’s no fear of any increase in the monetary mass.“
…What they’re talking about is education. They’re telling people educational items…So if they do print a currency…it’s going to do it for a purpose...If they increase the supply of currency on the street it’s going to devalue the currency. What they’re stating is there’s no fear of an increase in the monetary mass therefor there would be no reduction in the value of the dinar. ..they keep reiterating next week which may contribute significantly to reducing the exchange rate of the dollar…
Article Quote:
“The Deputy Governor of the bank…promised yesterday other decisions will be issued next week that may contribute significantly to reducing the dollar exchange rate.”
They’re talking about reducing the dollar exchange rate. They can do it in the official sense or they could be considering that to be in the parallel market sense. IMV…the quote for the black market or the parallel market…were fake. Basically the corrupt were cheating the corrupt and some of them were complaining…there’s something happening next week.
Article Quote:
“…the printing of the Iraqi currency will not be random...there’s no fear of any increase in the monetary mass.“
…What they’re talking about is education. They’re telling people educational items…So if they do print a currency…it’s going to do it for a purpose...If they increase the supply of currency on the street it’s going to devalue the currency. What they’re stating is there’s no fear of an increase in the monetary mass therefor there would be no reduction in the value of the dinar. ..they keep reiterating next week which may contribute significantly to reducing the exchange rate of the dollar…
Nader From The Mid East
We’re waiting for next week. We see what’s going to happen. I hope we go to 1000 because once it goes to 1000 I’m sure they’re gonna remove the zeros and it’s be 1 to 1. I hope so. I hope this was gonna happen. That’s what everybody think is going to happen. But it’s tough. It’s not easy…
We’re waiting for next week. We see what’s going to happen. I hope we go to 1000 because once it goes to 1000 I’m sure they’re gonna remove the zeros and it’s be 1 to 1. I hope so. I hope this was gonna happen. That’s what everybody think is going to happen. But it’s tough. It’s not easy…
MarkZ
[via PDK]
Question: …do you think there will be an interim rate change in Iraq to between 1000 and 700 before they drop the three zeroes and get us to better than 1:1?
MarkZ Answer: If you had asked that a few weeks ago I would have said yes. But asking that today-I think they are going to skip that step…but we will see.
[via PDK]
Question: …do you think there will be an interim rate change in Iraq to between 1000 and 700 before they drop the three zeroes and get us to better than 1:1?
MarkZ Answer: If you had asked that a few weeks ago I would have said yes. But asking that today-I think they are going to skip that step…but we will see.
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