Wednesday, August 9, 2023
NEWS OF IRAQ ABOUT CASH DOLLAR SALES & DETAILS ABOUT THE OIL & GAS LAW, 9 AUGUST
The Central Bank of Iraq issues four strict directives to exchange companies regarding the sale of the dollar
Shafaq News/ The Central Bank of Iraq issued, on Wednesday, four strict directives to exchange companies regarding selling dollars to travelers.
The bank said in an official letter addressed to exchange companies under the categories (A, B), obtained by Shafaq News Agency, that “based on the bank’s oversight and supervisory role, and for the purpose of controlling cash sales of dollars to travelers through the electronic platform (FITR), we call upon your companies Commitment to carrying out cash dollar sales in accordance with the instructions and controls in force, strictly adhering to their requirements, and using them for the specified purpose exclusively, and for eligible persons after verifying their original documents, and failure to comply with what was mentioned will result in imposing a penalty for depriving the violating company of the dollar, and it may reach withdrawing the company’s license “.
He added, “The Central Bank keeps the sequences of banknotes that companies receive through banks, and therefore finding them with speculators and unlicensed people holds the company that leaked them responsible for that, and commits them to a serious violation that may be punished by withdrawing the company’s license, as well as judicial procedures.”
And he continued, “The non-merged companies have been given long and sufficient deadlines, and the date of 12/31/2023 will be the last date for submitting merger applications, and the allocation of companies’ shares from cash dollars after this date will be contingent on achieving the merger.”
And the bank concluded, “Starting from the date of 8/8/2023, the company’s entry to the window for buying and selling foreign currency will be suspended in the event that (3) complaints are received against it from citizens, which prove their validity, until it submits a mechanism or program to control the sale duly approved by this bank.” And in the event of a repeat of the violation, this bank will permanently prevent the company from entering the foreign currency buying and selling window.
shafaq.com
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The “information” reveals “important” details related to oil and gas. The draft law is being presented, and this is its content
Today, Wednesday, the Parliamentary Oil, Gas and Wealth Committee revealed the outcomes of a government meeting regarding the oil and gas law in the capital, Baghdad, and while confirming the submission of a draft law, it clarified its content.
A member of the committee, Intisar Al-Jazaery, said in an interview with Al-Information Agency, that “a meeting was held today in Baghdad regarding the oil and gas law, which included all concerned parties from the executive authority in addition to the governor of Basra, as it is the first province to produce oil.”
She added, “The meeting witnessed the issuance of a draft oil and gas law, which was submitted by all parties, including the Kurdistan region,” indicating that “the draft contained a lot of materials for licensing rounds for oil-producing and non-oil-producing provinces, how to distribute them fairly, and how to develop them and call for investment.” Oil and petroleum will be developed in the coming years.
A member of the Parliamentary Oil Committee explained, “This draft was written in order to discuss the materials contained within it and to know the developments that may occur on them, and then after that it will be discussed within the Oil and Gas Committee, as the committee responsible and concerned with this file.”
And on the fields of the Kurdistan region, Al-Jazaery indicated that “the oil and gas law will be approved to eliminate all these problems, and for the management of this file to be unified by the federal government.”
She pointed out that “the region produces oil, but in return it receives the salaries of its employees from the center, which prompts the federal government to control all wealth, including the Kurdistan region, as it belongs to all the people.”
And she continued her speech, saying: “This law regulates all oil extraction and export operations through SOMO,” noting that “this draft contains many important articles, and in the coming days it will reach the House of Representatives.”
The oil and gas law is one of the issues that raised controversy between Erbil and Baghdad for many years, but it was agreed to approve this draft law between the two parties within the framework of a political agreement that led to the formation of the current government.
almaalomah.me
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BRUCE'S BIG CALL, 9 AUGUST
Bruce’s Big Call Dinar Intel Tuesday Night 8-8-23 REPLAY LINK Intel Begins 1:21:00
Welcome, everybody to the big call tonight. It is Tuesday, August the eighth and you're listening to the big call. Thanks for tuning in wherever you're located around this globe. I know on last Thursday's call, we reached 24 and a half million live listeners.
And that's a record. That's the biggest number we've ever received, that we have confirmation that from that they did in fact listen to the call – its incredible technology that our team has put together so that they can receive the big call. One and a half 1.2 seconds after I speak it they immediately simultaneously translate it into a number of different languages. We were in 199 countries with 24 and a half million live listeners. That doesn't include any replay people that might have clicked the replay link on the replay email that they were sent on the email link.
We've got some good things to bring to you tonight. Well, let's cut to where we are on the Intel tonight.
First of all, a couple of days ago, I'm gonna say two or three days ago, we were looking forward from about three or four different sources to this going meaning notifications either Tuesday or Wednesday, meaning today or tomorrow. And then that would be setting appointments and exchanging the currencies and redeeming the Zim on Wednesday or Thursday.
Now, the way it stands now, we have not received notifications today. So it sort of takes today out of the mix, but it definitely makes Thursday and Wednesday. Or Wednesday and Thursday, definitely in play. Wednesday from what we're hearing from several sources today.
It's looking like we should get notified tomorrow on Wednesday. I don't know what time. I don't know if it'll be morning or afternoon. I also don't know if we're going to start exchanges tomorrow, meaning in the afternoon, or evening or whether we would only set appointments for that would begin on Thursday. I know that the redemption center staff have been informed to be there today. And to be there a plan to be there. In some cases for 12 or 16 days straight.
Some redemption centers will not need to be open for more than about 11 or 12 days. Some of the busier higher demographic redemption center areas will go as long as 16 days that they pretty much know who the currency holders are. When we go in for that first portion of Know Your Customer, meaning who are you?
What do they have? About us? Do they have our name or phone number or social security numbers? Do they know for example, what currencies we purchased in some cases? Yes.
Do they have your email? Yes.
So they know your customer is going to be a matter of you putting up a nice photo of yourself and an ID for example, a passport or driver's license or both if you have them and then showing them a utility bill or a cell phone bill showing the address where you're currently staying. And when you show them to that and they go ahead and match that up and say okay, yep, that's what we thought. And then boom, that's that thing. Only might take you 15 to 30 seconds to get that portion done.
Of course, they're going to want to say what currencies you have pony those up. And you let them count and authenticate and verify those with the delarue machine. And you'll be actually sitting in front for the most part of three people - three different people, and they'll be working feverishly to count and verify your currency on the delarue machine.
And then make sure that you have a good idea how much of each currency you believe you have over these things. You have a lot of counted all up. Maybe you've done all that.
And you know, for example, how much are you have how much do you have how much Rupiah - how much Afghani how much zim - how much Bolivar you have Venezuelan Bolivar, whatever, whatever the currency is that you're bringing in and there are about 23 currencies that are going up in value. And we know obviously several that are going up substantially in value
All right. So when you go in and they're counting that I want to make sure that I have a typed sheet that shows how much currency I have in each one. Like how much dinar how many - How much Dong - how much zim - all of that.
So that when I this is what I say I have let's see how like you guys count compares to it that way okay. All right. I see you see that that much okay, and they start doing it. And then when they go through and say Well, you're right about this, you got that many dinar boom check it off. And you got that many dong, check it off, to get that much zim. Okay, check it off.
But bottom line is it's good for you to know kind of what's going on. They're going to be counting going through it very fast very quickly. And they have laptops that are connected to the delarue machines that are going to be able to upload their newest laptops, by the way to the Starlink satellites.
That's pretty cool. So everything is set up for us to go through that. And then we'll be talking about rates. We'll be talking about your projects if you're a Zim holder. And even if you're not, let's say all you have is Dong but you still have projects, boom, you want to let them know that now that would allow you for example, let's say you have Dong and no other currencies and you have a rate that's been offered you that you might be able to negotiate that higher because you're doing projects and because that's your only currency.
If you're a Zim holder, there's you're not going to be able to negotiate your dinar or your dong up in value. You just see what they offer you. The zim is going to be so much bigger. It's going to cover basically more than cover everything that you want to do.
Once you get the currencies done the next thing is for you to do your project presentation, five to eight minutes for all your projects, everything. So that means you need a good outline form of presentation that you can present and then leave a copy of it with them.
They'll pick your project ideas, run it scan it in computer, make sure that you're not duplicated with, you know 10s of 1000s of other people around the country that are doing the same projects. It also might come in handy. If they say well we've got you know, 800 currency holders that have this very similar project. It might work that there'll be some collaboration possible.
And I think when we get our website and everything ready to go, when we find out that we've got so many listeners that want to work on rebuild America, so many people that were looking into this particular aspect of their presentation, their projects, it might be that we will help to collaborate people, regionally. Work with people. We're gonna have to look in every every aspect of this before we do it. But I think it's very possible that we'll collaborate across the country and possibly internationally as well.
You know, that rebuild international intends to start in the Dominican Republic, Haiti and Bahamas. Those three countries wanted to start it. And so obviously it helps, for example, as Bob has two very strong connections, or the Dominican Republic. So we'll see how that takes us and where we go with it
Beyond your presentation obviously, you're gonna get a quantum account set up for you. The Quantum account is where the bulk of all of your exchange goes into.
It's not interest bearing, but it is the account that is like a United States Treasury backed account. Okay, the quantum financial system is tied to it. And your quantum card will give you access to that quantum account where you can move funds from it to up to three different banks that will be connected to it.
I'm using obviously Wells Fargo initially, and we'll see if I add a couple other banks to that. But to move initially from your day of exchange to get access to funds, you'll have a certain amount that you can put into your Wells Fargo primary account is what I'm calling the main bank account. And in my case, I'll probably use the trust name or my umbrella trust to use for that particular account.
Now we're not going to be able to set up multiple accounts in the redemption center that day, there'll be far too much to do in 40 minutes to do that. You might be able to get a primary and secondary account with Wells, and that would be it. I think that would be it.
Alright, once we get our accounts, we also have our quantum account. You got a biometric fingerprint or thumbprint on that a password and email and things tied to it. So there's there's a lot to getting that card out. And then in your primary wells account, you're going to need a credit debit card on Wells that you'll have. And then you'll have that information to set up so that you can start using that right away.
Beyond that, you're going to obviously have your account set up your bank accounts, and most of the banking type questions and banking things you'll need to go to the bank the next day or a couple of days later, to take care of those questions.
Also, they're going to give you a book I the last time we heard it was 55 pages of who's not to give money to who not to donate to. Okay, you want to stay with that. You don't want your account frozen because you didn't listen to that or didn't read a book.
You're gonna get a one or two page list of perks that the bank is going to offer you. It could be interesting to take that home and consider that - they'll also give you at the end - you're gonna get an opportunity to take some new USN currency or new money and I think they want to keep it under $8,500 per person. I might take five grand that would be it. No more than that in cash.
Take that. And that's only if you're used to using cash. You don't have to take any of it if you don't want and then you'll also get a cue phone if you're a Zim holder. I can't speak to all the other currencies because they don't have that. I know they've provided us the new cue phones which are basically like a satellite phone that works on the Starlink satellite system. And it works all over the world where you're not bouncing off cell towers you're bouncing off of the satellites themselves.
And so that is supposed to be free for you. And my understanding is at this time that it's a free service for you. Now, we'll find out that that's what I've heard. So we'll see what happens with the Q phone.
Also you're supposed to get a certificate, good for $1,000 for a new laptop, and you want to take that to one of eight different retailers that they have listed out that you can use that certificate to buy a laptop for up to $1,000 Okay, or I guess anything at that store designed for the laptop.
Then beyond that, that's about all that they were going to do In your in your 40 minute time.
Even I've been told if you have a duffel bag of currency, and some of you guys do, they'll still knock that out on the delarue machine and get that counted in them for you and get you out of there in 40 minutes. That's not going to be touchy feely. It's not a warm fuzzy. You're not there to make new friends.
This really is a quick business meeting where you're laying it all out there in the done and getting out of there. And then you can go out with a smile on your face and take a drive back to your home your office or whatever and celebrate privately
There will be security there. There'll be a US Marshal there in case there's any shenanigans or funny business that will take somebody right up out of their chair with the bracelets on taking them out of there. Okay, so realize this is serious business.
You are allowed to have your phone, but you cannot have your phone on where you're taking the picture, no video or audio recording of it. It's just there you might as well say put it on airplane mode. Put it in your briefcase, or your purse. You can have it but you can't have it as a recording anything video or audio.
So, we are so many another thing the BRICS nations, which you know, the BRICS originally started with Brazil Russia, India, China, and South Africa. They've all been gold backed for a while now quite a while probably, I'm gonna say years, two years. And there are about 40 - 60 other countries that want to align and be part of the BRICS consortium Right? Well, there is a meeting - a large get together that will be taking place in Let's see the 22nd 23rd 24th of August.
In Africa, I don't know where but that is going to be where the BRICS nations are coming out and supporting the idea of a gold backed currency. Now realize we're not calling our USN gold backed even though it's primarily backed by gold. They're using the term “asset backed”.
Because there are other assets that are backing our currency besides gold, and they may never use the announcement that we're back on the gold standard. I don't think they will ever say that or that we're gold back. Point is we have a USN asset backed currency that has been traded now for a couple of weeks - and we believe the actual physical money that we put in our wallets, that currency should be out in the banks. It's already in the redemption centers should be out in the banks for us - for us and other people to get, I would think, possibly middle or later this week.
It's hard to say exactly. Don't set your watch by that but it looks it looks like once we get started, which hopefully is by Thursday - If it's not tomorrow afternoon, it could be vice versa. And then we're off to the races and we've got a new currency and everything else.
Now the latest I had on our connection to the med beds is proximately eight days after we start our exchanges we'd be able to set our appointments for the med beds, so that's always a little subject to change, but just beware that.
I think that's everything I wanted to bring out that is current that I can remember - I know that there's there are things happening politically now as we speak that happened yesterday - and I think there'll be more things that will be taking place as a result. there's clean up on all aisles all over the country. I think they are.
A Few Spots Went Silent While Bruce Was Speaking So Some Transcription Was Unavailable
And it looks like yeah, it looks like you know there are some areas they're using the term martial law in seven or eight states and they're using the term partial martial law, which is the like martial law.
Martial law is In a lot of other parts of the country is going to be like martial law light, but I think it's it's good to know they're prepared for so called hotspots around the country. And you know, when political change takes place, and the truth comes out, and some of these things might upset some people, majority _________ bruce faded out areas.
Yeah, they're all good. I'm excited about everything. Bruce fading again ---- getting a phone call he says - call I had to take now. Hold on one second
So that's what I wanted to share tonight. I wanted to bring that out.
But I want everybody to sort of enjoy this time of exchange. I want you to take a little time off. You got to take care of any personal debt you got. You got to take a little vacation, maybe pick up a new car, you're looking at a house or an upgrade in your house.
All of those things are going to keep you busy for a little while - while we put our project ideas down. Activate or tune in or else and we figure out exactly how we're going to put all this together.
Then, in the meantime, guys, it is Tuesday night let's see what tomorrow brings. If we have everything and we're underway by Thursday, we might have a celebration call Thursday night but there's no guarantee of that at this point. We're just looking for toll free numbers and to get everybody setting their appointments with the redemption centers and then going from there, to their exchanges, and so on. Alright, so that's what I wanted to say.
Thank you all the listeners that were beaming out to we had 24 and a half million last Thursday's call globally in 109 countries. And hopefully we have good reach tonight as well. Thank you those that have been listening for 12 years. Appreciate you very much. And those that are new, we still appreciate you to probably have new listeners on every call. Let's pray the call out.
Everybody have a good night tonight. God bless you, and let's see what happens over the next few days.
Let's see what happens over the next few days.
USD/IQD Forecast, United States Dollar / Iraqi Dinar currency rate prediction: Buy or sell USD/IQD pair?, 9 AUGUST
About the United States Dollar / Iraqi Dinar currency rate forecast
USD/IQD Currency Rate is 1309.540 today.
1 year USD/IQD Forecast: 2278.0195609288 *
5 year USD/IQD Forecast: 7854.870 *
As of 2023 August 09, Wednesday current rate of USD/IQD is 1309.540 and our data indicates that the currency rate has been in a downtrend for the past 1 year (or since its inception).
United States Dollar / Iraqi Dinar has been showing a declining tendency so we believe that similar market segments were not very popular in the given period.
Our site uses a custom algorithm based on Deep Learning that helps our users to decide if USD/IQD could be a good portfolio addition for the future. These predictions take several variables into account such as volume changes, rate changes, market cycles.
Future currency rate of the currencies is predicted at 2278.0195609288 (73.956% ) after a year according to our prediction system.
This means that if you invested $100 now, your current investment may be worth $173.956on 2024 August 09, Friday.
This means that this pair is suited as a new addition to your portfolio as trading bullish markets is always a lot easier.
"Best Momentum Stock to Buy for August 9th", 9 AUGUST
Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, August 9th:
TTM Technologies (TTMI - Free Report) : This company which is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.7% over the last 60 days.
TTM Technologies, Inc. Price and Consensus
TTM Technologies, Inc. price-consensus-chart | TTM Technologies, Inc. Quote
TTM Technologies’ shares gained 28.4% over the last three month compared with the S&P 500’s gain of 9.7%. The company possesses a Momentum Score of A.
Paylocity Holding (PCTY - Free Report) : This company which offers cloud-based payroll and human capital management (HCM) software solutions to medium-sized organizations across the U.S, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.8% over the last 60 days.
Paylocity Holding Corporation Price and Consensus
Paylocity Holding Corporation price-consensus-chart | Paylocity Holding Corporation Quote
Paylocity Holding’s shares gained 19.0% over the last three months compared with the S&P 500’s gain of 9.7%. The company possesses a Momentum Score of A.
Paylocity Holding Corporation Price
Paylocity Holding Corporation price | Paylocity Holding Corporation Quote
Modine Manufacturing (MOD - Free Report) : This company which operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.9% over the last 60 days.
Modine Manufacturing Company Price and Consensus
Modine Manufacturing Company price-consensus-chart | Modine Manufacturing Company Quote
Modine Manufacturing's shares gained 121.8% over the last three months compared with the S&P 500’s gain of 9.7%. The company possesses a Momentum Score of B.
Modine Manufacturing Company Price
Modine Manufacturing Company price | Modine Manufacturing Company Quote
Vietnam, Iran boast potential to boost economic, trade ties: forum | Vietnam+ , 9 AUGUST
Vietnam, Iran boast potential to boost economic, trade ties: forum | Vietnam+ (8/9/23)
The Vietnamese and Iranian economies are reciprocal, and the two countries have a lot of potential to advance their economic and trade cooperation, making it match the good bilateral political and diplomatic relations, heard a forum on August 9.
he forum on policies and laws to promote economic, trade and investment ties between Vietnam and Iran was jointly held by the Vietnamese Ministry of Industry and Trade, the Vietnamese Embassy in Iran, and the Iran Chamber of Commerce, Industries, Mines and Agriculture, as part of National Assembly (NA) Chairman Vuong Dinh Hue’s ongoing official visit to Iran.
In his remarks, Hue said bilateral trade and investment activities between the two countries have been developing fruitfully and will be on par with their political and diplomatic ties.
He highlighted good sentiments and mutual respect between Vietnam and Iran, their multi-faceted cooperation, and collaboration and mutual support at multilateral forums.
The top legislator used this occasion to brief the participants on achievements Vietnam has recorded in reform and international integration over the past 37 years, with its gross domestic product (GDP) reaching 410 billion USD last year.
Vietnam is striving to reach a GDP growth rate of 6.5% this year, and keep inflation at around 4.5%, he added.
The country is working towards strategic breakthroughs in terms of economic institutions, workforce quality, science-technology, education-training, and infrastructure, especially transport infrastructure, the leader continued.
According to the NA Chairman, Vietnam’s export revenue was valued at 735 billion USD last year, becoming one of the 20 countries with the highest trade value in the world.
Vietnam has also been named among the world's top 20 host economies for foreign direct investment (FDI) by the United Nations (UN) with an inflow of 450 billion USD poured into 37,000 projects, Hue went on.
The leader suggested Vietnam and Iran remove obstacles to raise their bilateral trade in the near future and continue perfecting legal frameworks to facilitate the operations of their businesses and investors.
He urged working groups for trade exchange and payment to step up their operations, emphasising that the two countries have signed many agreements on double taxation avoidance, judicial assistance and customs, along with memoranda of understanding on technology and education.
Within the framework of the official visit, the two sides have reached more cooperation documents, covering collaboration between the legislative bodies, plant and animal quarantine, culture and education, among other fields.
The Vietnamese legislature has been making all-out efforts to consolidate the legal system, and untangle knots for foreign investors in the country, the NA Chairman affirmed, noting that the Vietnamese and Iranian legislatures will work together to supervise the governments’ implementation of the documents, especially those in economy, trade and investment.
He said the two countries’ chambers of commerce and industry should organise more cooperation activities and delegation exchanges to tighten connectivity between localities and enterprises.
Hue expressed his belief that the bilateral economic, trade and investment ties will grow further in the time ahead.
Speaking at the event, Chairman of the IranChamber of Commerce, Industries, Mines and Agriculture Hossein Selahvarzi called for greater efforts by both sides to promote their economic and trade cooperation.
Talar Poshti, Chairman of Industries and Mine Committee of the Iranian Parliament, said Iran has put forth many programmes and plans to strengthen cooperation with Vietnam, stressing they will likely help promote the economic, trade and investment ties.
Meanwhile, Pour Ebrahimi, Chairman of the Iranian Parliament's Economic Committee, expressed his impressions on Vietnam’s socio-economic achievements, and affirmed that the Iranian government and people want to enhance economic and trade cooperation with the Southeast Asian nation.
He also noted hope that Hue’s visit will open up a new chapter for the bilateral economic and trade collaboration.
https://en.vietnamplus.vn/vietnam-iran-boast-potential-to-boost-economic-trade-ties-forum/265938.vnp
The New ETF with 100% Downside Protection: How It Works, 9 AUGUST
"OUR DINAR SLOGAN OF IRAQ" & BANK INTEL FROM MARKZ", 9 AUGUST
MilitiaMan (KTFA)
They’re openly telling you, ‘Our dinar is our sovereignty.’ Well exactly, so let’s get on it. Do it. Get it done. And that’s what we’re seeing…I think they’re going to be doing it quite quickly now. And I think we’re going to start watching some circumstances unfold in the very short period of time, whether that’s this week or not is to be determined but they’re openly showing that they are doing things that suggest they’re doing things today, tomorrow, the next day, next week, they’re moving forward. They’re not going to stop.
The Black market goes away as we know it once Iraq changes the exchange rate to exceed the dollar in value. imo.
[via PDK]
I have been told over and over again the NDA will be about the rate. We can tell them we exchanged dinar…we are just not allowed to tell the specific rate we were paid. That is what I was told. This makes sense.
Member comment: A banker was said to have told a customer who asked about the new offices…was told it was for currency exchanges. He was asked if he had any and he said “dong and rate will be $3 per dong” MarkZ: We had something similar happen in several different areas.
In Iraq “On top of them is Al Kazemi. Al Musawi demands that those who were involved in steal of the century be tried publically in the center of the capita l” 2 and ½ Billion dollars funneled out by government officials. They want disclosure…It’s everything to them, and they want to air all the dirty laundry. I think this is a huge step and a very healing step. They want to try these people so it never happens again…They are making certain things are safe and transparent.
"OUR DINAR": A CAMPAIGN TO RETURN THE DOLLAR EXCHANGE TO ITS NORMAL RATES", 9 AUGUST
"Our dinar". A campaign to return the dollar exchange to its normal rates
Baghdad – NAS
Specialists in financial affairs believe that the return of the dollar exchange to its normal rates needs to adopt the slogan “Our dinar”, calling at the same time for the concerted efforts of government institutions, the private sector and the media to support dealing with dinars exclusively, and to leave dollar transactions.
Financial affairs expert Suha Al-Kafaei confirmed in an interview with the official newspaper “Nas”, (August 8, 2023): “The stability of exchange rates in the local market requires participatory solutions between the citizen and the trader, as the reality of transactions needs to be converted to the Iraqi dinar instead of the dollar for all transactions without exception, and this will reduce the demand for the dollar, as the trader in dinars goes to the bank to obtain the dollar for the purpose of importing at a price of 1320 dinars against the dollar, and from here the demand for the dollar can be reduced in the parallel market.”
The private sector has flexibility in providing solutions that help stabilize exchange rates,” al-Kafai said, noting that “integration and cooperation between the private sector and the Central Bank of Iraq are needed.”
She said that “the citizen is required to refrain from buying any commodity in dollars, and here he must go to buy goods from a similar trader who sells in dinars, and thus contributes to reducing the demand for the dollar, as this mechanism leads to the tendency of all traders to deal in dinars, and contributes to the non-rise in prices, as the trader will go to the bank to obtain the dollar at a price of 1320 dinars against the dollar, to cover his imports through the approved mechanism.”
She stressed that “in this way, the two most important elements will abandon dealing in dollars, the citizen who has many and varied transactions, as the country’s population exceeded 40 million people, and merchants, who represent a large segment leading the economy, whose imports represent 95% of the local market’s need, and when transactions go to the dinar, we tend to achieve stability in exchange rates, provided that we refrain from buying any need in dollars.”
She warned that “the importance of the Ministry of Commerce raising the slogan of dealing with the dinar, and to escalate the cases of education through seminars, conferences and the media, to be dealing with the dinar exclusively, in support of the government’s measures to stabilize the exchange rates of the dollar against the dinar and at the official rate, and there can be an active role for the Department of Private Sector Development and the Department of Import and Export in the Ministry of Commerce, from here must launch a campaign to deal with dinars exclusively.”
“It is imperative that ministries and the media join efforts to move towards dealing in dinars and make dealing in dollars between the merchant and the bank exclusively for the purposes of financial imports,” she said, pointing out that “the commercial family realizes that dealing with the official exchange rate rates is more useful and profitable.”
“This mechanism will reduce dealing in the parallel market, which offers the dollar at higher prices than the official rate of 1320,<> dinars to the dollar,” al-Kafaei said.
Silwan al-Nouri, a specialist in economic affairs, stressed “the imperative that we move to deal with local dinars inside the country, adopt mechanisms agreed upon between the private sector, which offers goods and services, and the Central Bank of Iraq, and address all the challenges that prevent traders from going to the banking system to obtain dollars to cover their foreign imports.”
He pointed out that “Iraq has a large volume of transactions with various countries of the world, and there are challenges in dealing that need a serious pause to address them through continuous meetings that bring together the concerned parties, to create a policy of dealing that regulates the reality of the local market, and maintains its stability, and the dinar is for internal transactions, and the dollar for foreign transactions and from its official sources, and not to go to the parallel market to obtain the dollar.”
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 9 AUGUST
Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: We hear on TV that the budget is active now since the instructions have been given.
FRANK: Your budget is active. Your budget is open. The problem is there are issues…amendments…appeals being put on the budget right now. Once those are removed you will have more of your presents open on this Christmas Day.
FIREFLY: Went to bank friend. He says in his opinion we’re going to see another official change down from 1320 to closer to 1100 or 1000 and I heard through the rumor mill that this next step, rate change, is needed.
FRANK: …Was this not the exact numbers we told you months ago that there would be a 3rd exchange rate somewhere between 1200 10 1000…this will make it so much easier to lift the 3-zeros because IMO the IQD is next in line..
BRIEF BIG CALL NOTES, (SPANISH & ENGLISH), 9 AUGUST
BREVES BIG CALL NOTES PARA EL MARTES 8 DE AGOSTO DE 2023
SOLO INTELIGENCIA