At an official invitation, the President of the Kurdistan Region visits France , 2 NOV

  At an official invitation, the President of the Kurdistan Region visits France

11/2/2023

The President of the Kurdistan Region of Iraq, Nechirvan Barzani, is scheduled to make an official visit to Paris tomorrow, Friday, in response to an official invitation sent to him by French President Emmanuel Macron.

According to a statement issued by the French presidency, President Macron will meet tomorrow with President Nechirvan at the Elysee Palace.

In turn, the Presidency of the Kurdistan Region explained in a statement that President Nechirvan Barzani will discuss tomorrow, during his meeting with President Macron at the Elysee Palace, French relations with Iraq and the Kurdistan Region, the development of joint cooperation, and the situation in Iraq and the region in general.

It is noteworthy that this is the fourth official visit conducted by Nechirvan Barzani since he assumed the presidency of the Kurdistan Regional Government in its previous session, and the presidency of the region in its current session.

The French President was scheduled to pay a visit to Iraq to attend the “Third Baghdad Conference,” which was scheduled to be held at the end of October, but the postponement of its holding until further notice prevented that.

Earlier today, an informed Iraqi government source told Shafaq News Agency that the countries participating in the “Third Baghdad Conference” demanded that the conference be postponed due to the unstable conditions Iraq is witnessing due to the escalation of attacks against American forces, and with a fear of an escalation of these attacks and the American response. And with warnings from some countries against traveling to Iraq.”

The government source added that the “Third Baghdad Conference” has been postponed until further notice, and no new date has been set for it. The date will be linked to stabilizing the situation and stopping the escalation of the armed factions against the American forces present with a number of Iraqi military forces.

The "Baghdad 2" conference was held on December 22, 2022, at the King Hussein bin Talal Convention Center on the coast of the Dead Sea, after a first session held in the Iraqi capital in August 2021 at the initiative of French President Emmanuel Macron and Iraq.

The conference was attended by French President Emmanuel Macron, Iraqi Prime Minister Muhammad Shia al-Sudani, Emir of Qatar Tamim bin Hamad Al Thani, European Union foreign policy official Josep Borrell, who coordinates the Vienna negotiations on the Iranian nuclear file, and Enrique Mora, the European Union coordinator for these talks. In addition to the foreign ministers of Iran and Saudi Arabia, the Secretary-General of the Arab League, the Secretary-General of the Gulf Cooperation Council, and a number of other Arab foreign ministers. LINK

The American Ambassador: We Are In Iraq To Ensure Its Stability, 3 NOV

The American Ambassador: We Are In Iraq To Ensure Its Stability

Political | 06:40 - 02/11/2023  Mawazine News – Baghdad  US Ambassador Alina Romanski confirmed that the presence of the United States in Iraq will help it defeat terrorism and ensure its stability.

The media office of the head of the Victory Coalition, Haider Al-Abadi, said in a statement received by Mawazine News, “Today, Thursday, Al-Abadi received the Ambassador of the United States of America to Iraq, Alina Romanski, to discuss the overall situation in Iraq and the region, and the recent attacks of the Zionist aggression against the Palestinian people.”

The statement added, "Al-Abadi condemned the clear bias in favor of the Israeli entity and condoning the crimes taking place against civilians in Gaza, calling on the international community to play its supposed humanitarian role and help the people."

For her part, Ambassador Romanski stressed that "the presence of the United States is focused on helping Iraq against terrorism and ensuring its stability."

https://www.mawazin.net/Details.aspx?jimare=237200

Evening News with MarkZ. 11/02/2023

Thursday Evening News with MarkZ 

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Welcome to Thursday night …Hope everyone enjoyed your day. 

Member: Hearing anything good today Mark?

MZ: I am hearing some very fun and interesting stuff that is telling me things are well underway, and we will see the manifestation of it very soon. 

MZ: I continue to get news from the middle east that things are already done  and we are waiting for it to implement.  Back in the days when Kuwait went –they kept it under wraps for about 10 days. I don’t know if they can hide it that long in today’s world. But they continue to tell me they expect notifications soon

MZ: I am not getting a response from my Group leaders over here ( and many had traveled over the weekend)  and Historic Bond  folks are still very quiet. They still have expectations of paydays on Nov. 4th.

MZ: We have a lot to look forward to and hopefully it comes to fruition. 

Member: What does your gut say right now. 

MZ: My gut is still screaming that sometimes in the next few days or week we will be across the finish line. …my analytical mind looking at documents , governments and articles say we will have it by Jan 1st. 

Member: TNT Tony just posted that he just bought a couple of bottles of champagne for tonight/morning and hopes we're ready!! 

Member: Mt. Goat My contact from the CBI has told me…that January 2024 is their target and is the best most opportune time to reinstate the dinar.

Member: Mark, did you come back to the states to exchange?

MZ: Every time I come back I am hopeful that it will RV. 

Member: Mark, If the petrodollar is dead or dying ,how can we get a higher exchange rate? Most countries are running from our fiat dollars.  

MZ: Yes, but with the reset they will go to asset backed dollars. So when fiat dies we go to our asset backed dollars .

Member: MarkZ a family member used to work for HSBC confirmed QFS…. It’s just a matter of time

Member: Will the Zim be only for humanity or can we split it?

MZ: I have been told the amount you get to keep personally is between 40-50 million dollars per 100T note. If you have a project you can more for the project. That is my expectation for the Zim

Member: any news about the Iranian Rial?

MZ: I still hear it will be in the first basket, and should be about 20-30% less than the rate the Iraqi Dinar comes out at. 

Member: how will I exchange if I have to go in for open heart surgery which is due in a couple days

MZ: Don’t Panic.  I am told you will have at least 10 days to set an appointment …Then you will have a month or two to exchange. I am also told that if you are in a bad way and cannot get to them….they will come to you…..but don’t abuse this folks. 

Member: Did you hear that Sherlock Holmes got audited by the IRS? He had too many deductions.

MZ: Normal podcast tomorrow morning….no podcast tomorrow night. 

Member: Thank you everyone and God bless

THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARK’S OPINION ONLY.

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

Iraqi dinar 🔥Iraqi dinar RV benchmark rates on forex today 🔥 Iraqi dinar...

"RV UPDATE" BY PIMPY, 2 NOV

  Pimpy 

  Article:   "As of the beginning of next month, Kurdistan will adopt the Iraqi dinar in crossings and airport transactions"  This is what I was talking about - Steps towards straightening the Iraqi dinar...This is a major move.  This is awesome.  This is great for the Iraqi dinar.  This helps strengthen the Iraqi dinar..

 In all fairness Iraq has managed to stay out of the crap that's going on over there despite calls by Sadr to get involved...

As I watch the markets and read more and more about what's going on in Iraq it's really starting to look inevitable that Iraq has to do something with the exchange rate.  This gap between the parallel market and the fixed market is starting to get really out of control.  We know Al-Sudani made an announcement that he was going to take some steps to close this gap. 

 Now Al-Sudani is coming over here to the White House to speak to Biden....I'm curious to see if the Biden Administration is going to do anything to help Iraq in their situation.  He could help flood their country with US dollars and the dollar would lose value and the Iraqi dinar would gain value.  Or they could just turn around and increase the exchange rate.

Iraq-Kurdistan Tensions Expose Fragile State of Nation’s Economy, 2 NOV

Iraq-Kurdistan Tensions Expose Fragile State of Nation’s Economy

In the heartland of Mesopotamia, where the Tigris and Euphrates rivers gave birth to some of the world’s first civilizations, modern-day governance continues its fragile dance. Amidst the economic and political tensions that have become the leitmotif of Iraq’s post-Saddam era, the latest act unfolds between the Federal Government of Iraq and the Kurdistan Regional Government (KRG). The plot: a delayed payment of 450 billion dinars to the Kurdistan Region’s bank account for the salaries of government employees.

A Dissonant Interlude

The KRG, which shoulders the responsibility of reimbursing public sector employees in the region, has long awaited a package of 700 billion Iraqi dinars from Baghdad. This recurrent delay in payments strikes a discordant note, undermining previous agreements crafted between the regional and central governments. The frustration is palpable, echoing through the corridors of power in Erbil, the capital of the Kurdistan Region.

In a previous attempt at harmony, the central government had dispatched 700 billion dinars to Erbil in September to cover salary payments. But, disputes between Erbil and Baghdad disrupted the financial symphony, halting the transfer. The encore: an agreement by the Iraqi government to transfer 2.1 trillion dinars to the Kurdistan Region to cover three months’ worth of unpaid salaries.

(Read Also: US Destroyer and Canadian Frigate Conduct Joint Transit of Taiwan Strait for the Third Time Since June)

Declining Dinar: A Crescendo of Concern

Superimposed on the salary delay discord is the concern over the depreciating value of the Iraqi dinar against the US dollar. The implications reverberate beyond the government and employees, affecting everyday life. Pensions are dwindling, the Iraqi market is trembling, and the public’s faith in the government and the central bank is eroding.

Some parliamentarians have sounded the alarm, calling for novel measures to stabilize the currency. A rapid decline in the value of the dinar in recent days has provoked criticism of the government and the central bank’s lackluster response to control the exchange rate.

The Banking System: A Fugue of Mistrust

A crucial element in resolving the currency crisis is restoring public confidence in the banking system. An estimated 85% of the issued monetary mass in Iraq currently resides outside the banking system, with people hoarding money outside of banks. The impact is profound: it hampers the role of banks in driving economic development through their lending policies.

(Read Also: Rafah Border Crossing Reopens: A Ray of Hope Amid Gaza’s Humanitarian Crisis)

The Central Bank has issued a circular urging banks to simplify procedures and create incentives to attract depositors. However, this initiative faces a formidable obstacle – the overarching lack of trust in the banking system. Overcoming this skepticism is fundamental to encouraging people to deposit their money in banks.

One potential solution lies with the Deposit Insurance Company, established to guarantee public deposits in the event of a bank collapse. The company needs to enhance its performance, actively market its activity, provide guarantees to depositors, and distribute official papers explaining the deposit insurance policy.

Simultaneously, the fluctuation of the dollar exchange rate needs to be addressed. Stability is key to reducing chaos and mistrust.

Long-term Harmonics: Local Production and Twin Policies

For a long-term resolution, experts recommend supporting local production to reduce the demand for the dollar for import purposes. They also suggest creating a clear map of the relationship between the demand for hard currency and the capacity for increasing local production to cover these demands. This involves understanding import destinations and harnessing opportunities for local growth. Furthermore, aligning monetary policy with fiscal policy can control commodity prices and financial transfers, providing a stable rhythm to Iraq’s economic symphony.

In conclusion, the ongoing economic and political tensions between Baghdad and Erbil have resulted in delays in salary payments for government employees in the Kurdistan Region. The declining value of the Iraqi dinar against the US dollar further complicates the economic landscape. Stabilizing the economy and improving the value of the currency requires a symphony of measures, from restoring public confidence in the banking system to implementing long-term strategies that support local production.

https://bnn.network/breaking-news/economy/iraq-kurdistan-tensions-expose-fragile-state-of-nations-economy/

Delayed Salaries in Iraqi Kurdistan: A Crisis of Confidence, 2 NOV

 Delayed Salaries in Iraqi Kurdistan: A Crisis of Confidence

As the sun begins to rise in the Kurdistan Region of Iraq, the day holds a familiar uncertainty for the thousands of government employees in the region. A new month brings forth the same old question – will they receive their salaries on time? The Ministry of Finance, which recently declared that it would commence the distribution of monthly salaries from the first six days of each month, has been grappling with this issue for several months now.

A Recurring Delay

Initially, the salaries were delayed for eight months, and then it was extended to 37 days. The second payment for the month of August, which was supposed to be paid on time, has not yet been disbursed. The Ministry of Finance has stated that the delay is due to the lack of funds and the government’s inability to transfer the salaries. This situation has sparked frustration among government employees who rely on these salaries to meet their daily expenses.

From Social Media to Parliament

The collective voice of discontent has reverberated across the vast digital landscape of social media platforms and echoed within the hallowed halls of the parliament. Many employees have expressed their concerns about the financial difficulties they are facing due to the delay in salary payments. Members of parliament and local officials have also criticised the delay, describing it as a failure of the regional government.

Loans and Financial Constraints

Addressing the issue, the Ministry of Finance announced it would borrow 250 billion dinars each from the Rafidain Bank and the Rashid Bank to cover the salary payments. However, this amount is insufficient to cover the salaries of all government employees. The ministry has also mentioned that it is grappling with financial constraints, which prevent it from paying the salaries on time.

Impact on Livelihoods and the Economy

The delay in salary payments has had a significant impact on the daily lives of government employees in the Kurdistan Region. Many are struggling to pay their bills and provide for their families. Some have even resorted to borrowing money or selling their personal belongings to make ends meet. This situation has not only created a sense of uncertainty and frustration among the employees but has also had a negative impact on the local economy. With government employees struggling to meet their financial obligations, consumer spending has decreased, leading to a slowdown in economic activity.

Looking Ahead

The delay in salary payments is a stark reminder of the financial challenges facing the Kurdistan Region’s government. It highlights the need for immediate action to resolve the salary payment issue and ensure the well-being of its employees. More than just a question of financial mismanagement, it is a call to action for the government to reassess its priorities and put the well-being of its employees at the forefront. The future stability of the region lies in the balance, hinging on the government’s ability to resolve this issue and restore faith among its employees.

https://bnn.network/finance-nav/delayed-salaries-in-iraqi-kurdistan-a-crisis-of-confidence/

The End of Petrodollars: China's Groundbreaking Crude Oil Purchase with ...

"RV UPDATE" BY MNT GOAT, 2 NOV

 Mnt Goat  

 My contact from the CBI has told me...that January 2024 is their target and is the best most opportune time to reinstate the dinar.  In my last conversation with my contact I was toldthey were given the green light to begin the re-education criteria to teach the citizens about the newer lower denominations and how the conversion back to the lower denominations as they had before 2004 is going to take place...I am still being very hopeful for a January 2024 reinstatement...

 I...want to make it VERY, VERY clear to everyone that the IQD is NOT yet reinstated on FOREX...“NOT YET TRADING ON FOREX”. Yes, if you go to FOREX there is a benchmark rate for the IQD but it is a linked rate only, linked back to the CBI.  It is a page holder. Yes, this is still a very good thing and I don’t want to down play it either...The IQD rate is there...only in preparation for the future. But there is not yet any trading ability to buy or sell.

Article:  "NEW STATEMENT FROM OIL ON THE DRAFT OIL AND GAS LAW"  Quote:  “the government is committed to approving this law.” Within the current government session, and it is also within the government curriculum.”  This is of course excellent news for us... 

US Dollar Stages a Ballet with the Iraqi Dinar, 2 NOV

 US Dollar Stages a Ballet with the Iraqi Dinar

As the sun rose over the bustling markets of Baghdad on Thursday, the exchange rate of the US dollar against the Iraqi dinar took an upward leap. The dollar began the day at 162,250 dinars for every 100 dollars, a considerable upswing from Wednesday’s rate of 162,000 dinars. As the day unfolded, local exchange shops saw the selling price surge to 163,250 dinars, while the purchasing price hovered at 161,250 dinars for every 100 dollars, hinting at a mounting demand for the US currency.

A Tale of Two Cities

Meanwhile, in Erbil, the capital of the Kurdistan Region, the dollar’s narrative took a slightly different turn. The selling prices in banking shops settled at 161,700 dinars, and the purchase price at 161,600 dinars for 100 dollars, signifying a modest decline.

Global Shifts: The US Dollar’s Dance

While the US dollar’s dance with the Iraqi dinar played out, a parallel performance was unfolding on the global stage. The US dollar fell against most currencies on Wednesday, a seemingly counterintuitive response to Federal Reserve Chairman Jerome Powell’s statements, interpreted by investors as a hint that the central bank may be putting a pause on interest rate hikes. The Federal Open Market Committee (FOMC) left rates unchanged in the 5.25-5.50 range, where they have been since July. This, coupled with data revealing a slowing US economy, put the dollar on the defensive for parts of the session.

Reading the Iraqi Dinar’s Pulse

Against this backdrop, the Iraqi dinar’s dance with the US dollar can be read as a barometer of Iraq’s economic health. The country grapples with high inflation and a large fiscal deficit, factors that could be contributing to the rising demand for the US dollar. The inclination towards the US currency might be driven by a lack of confidence in the stability of the Iraqi dinar.

Global Implications and Future Projections

The decline in the US dollar can impact countries and sectors differently. It can benefit countries exporting to the US, making their goods more competitive. It also eases the burden of dollar-denominated debt for emerging market economies. Contrarily, it can lead to higher import prices and inflation in countries heavily reliant on imports. As for the future, a keen eye on the Federal Reserve’s stance, the health of the US economy, and the economic stability within Iraq will be critical in forecasting the dance of these currencies.

https://bnn.network/sports/us-dollar-stages-a-ballet-with-the-iraqi-dinar/

Iran’s Railway Extension to Iraqi Kurdistan: A New Chapter in Regional Diplomacy, 2 NOV

 Iran’s Railway Extension to Iraqi Kurdistan: A New Chapter in Regional Diplomacy

In a move that could redraw the economic and diplomatic contours of the Middle East, Iranian President Ibrahim Raisi recently announced an ambitious plan to extend a railway line from Iran’s Kurdistan Province to the Bashmakh border crossing in Iraqi Kurdistan. Made during the inauguration of the Hamedan-Sanandaj railway road in Sanandaj, the capital of Iran’s Kurdistan Governorate, the proposed project aims to enhance rail transport, facilitating passenger and goods transportation between Iran and the Kurdistan Region in Iraq.

Connecting Borders, Building Bridges

The proposed railway extension signifies a significant development in the economic and diplomatic relations between Iran and Iraq. It is poised to transform transportation links between the two regions, potentially boosting trade and economic cooperation. The railway line would offer an efficient and cost-effective mode of transportation for both passengers and goods, paving the way for increased cross-border trade and economic integration.

Iran’s Growing Regional Influence

The railway line extension also underscores Iran’s expanding influence in the region. By investing in infrastructure projects in Iraq, Iran is fortifying its economic and political ties with its neighbor. This strategic move unfolds at a time when Iran is striving to increase its regional influence and counterbalance the sway of other powers, particularly the United States.

A Diplomatic Dance: Kurdistan and France

In parallel, another diplomatic choreography unfolds as the Kurdistan Region in Iraq strengthens its ties with France. The President of the Kurdistan Region is planning a visit to Paris, a move that could further deepen bilateral relations. This development underscores the growing importance of the Kurdistan Region in regional politics and its growing recognition by major powers.

Challenges and Concerns

Despite these positive developments, the region is not without its challenges. The Baghdad Conference III, intended to convene regional and international stakeholders to discuss Iraq’s challenges, was postponed due to security concerns. This delay reflects Iraq’s fragile security situation and ongoing tensions among different factions and external powers.

Moreover, Iraq and Iran have engaged in discussions over shared water resources, highlighting the escalating importance of water resources in the region and the need for cooperation in addressing water scarcity and managing water resources effectively.

Economic Pivots

In the economic sphere, fluctuations have been observed in the USD/IQD exchange rate, closing higher in Baghdad but ticking lower in Erbil, reflecting the intricate economic situation in Iraq. In the oil sector, Russia’s LUKOIL has inked a significant agreement with Iraq to double the production of the West Qurna 2 oil field, one of the world’s largest. This pact could have a transformative impact on Iraq’s oil industry and its economy.

In conclusion, these developments underscore the complex geopolitical dynamics and intricate interplay of economic, political, and security factors shaping the region. The planned railway line between Iran and Iraqi Kurdistan, the strengthening diplomatic ties between the Kurdistan Region and France, and the discussions over water resources between Iraq and Iran all epitomize the evolving regional dynamics and the unrelenting efforts of different actors to enhance their influence and secure their interests.

https://bnn.network/world/iraq/irans-railway-extension-to-iraqi-kurdistan-a-new-chapter-in-regional-diplomacy/

Passing Oil & Gas Law (HCL)?💣Is IQD in FOREX?!🤔Iraq Dinar RV Updates | 1...

"IRAQ BOOTS ON THE GROUND REPORT" UPDATED BY FIREFLY, 2 NOV

 Frank26  

 [Iraq boots-on-the-ground report]   

FIREFLY:  We have big new report on television saying the Iraqi parliament is in full support of the CBI and its actions to control the exchange rate for the monetary reform. 

 FRANK:  The only reason parliament is saying you're now going to have your new exchange...your HCL...your budget...you're now going to have everything that was promised to you by Sudani and Alaq is because they lost full control of the corruption...

  FIREFLY:  The CBI is on the news today warning people not to deal with unlicensed companies.

  FRANK:  If you're not dealing with unlicensed businesses then those companies are going to go out of business...And fines are going to drive them out of business.  There's no more problems with banks that are using the American dollars in Iraq.  They are being eradicated.

Currency Auctions in Iraq and Azerbaijan: A Dance with Economics Amidst Diplomacy and Security, 2 NOV

Currency Auctions in Iraq and Azerbaijan: A Dance with Economics Amidst Diplomacy and Security

In the tremors of the global economic landscape, two nations – Iraq and Azerbaijan – are striving to stabilize and bolster their currency markets, with auctions that have rippled across the financial world. On Thursday, the Central Bank of Iraq (CBI) auctioned over $200 million in foreign exchange, a move that echoed Iraq’s persistent endeavor to stabilize its currency and stimulate economic growth.

The Currency Auction: A Telling Tale

Of the total $200 million, a staggering $176,406,543 was funneled to bolster foreign balances in the form of transfers and credits, while a humble $24,071,600 was allocated for cash deals. Seven banks facilitated these cash deals, with 19 other banks meeting requests pertaining to foreign balance. They were not alone. A total of 61 exchange and brokerage companies also partook in the auction, amplifying the depth and liquidity of Iraq’s foreign exchange market.

But this auction was not just about numbers. It was an emblem of Iraq’s commitment to maintaining a favorable foreign exchange reserve and strengthening its external financial position. This would in turn augment Iraq’s capability to meet its international obligations and manage its foreign exchange risk.

The Shadow of the Baku Auction

Meanwhile, a similar narrative unfolded in Azerbaijan. The Central Bank of Azerbaijan (CBA), with the State Oil Fund of Azerbaijan (SOFAZ), also held a currency auction. Demand at this auction spiked to $57.4 million, a 40 percent increase from the previous auction. This surge in demand underscores the positive economic conditions and growing confidence in the Azerbaijani currency, mirroring the strengthening of the country’s financial system.

Diplomacy and Security: The Other Side of the Coin

While these auctions painted a positive financial picture, diplomatic and security concerns were not far behind. The president of Kurdistan is set to visit Paris, a move that could fortify diplomatic ties between the Kurdistan Region and France, and promote economic development and stability in the region.

However, the postponement of the significant ‘Baghdad Conference III’ due to security concerns casts a long shadow over Iraq’s socio-political landscape. This highlights the challenges and uncertainties the country grapples with, even as it strives towards economic growth and foreign investment.

The Currency Dance: A Tale of Two Cities

A curious dance unfolded in the Iraqi market. The US dollar, while strengthening against the Iraqi dinar in Baghdad, slightly declined in Erbil. The fluctuation in the exchange rate reveals the volatility and sensitivity of the currency market, a marionette in the hands of economic conditions, political stability, and global market trends.

These developments in Iraq and Azerbaijan, coupled with the diplomatic visit and security concerns, bring to light the complexities and challenges these nations face. Yet, they also illuminate their resilience and determination to forge ahead towards economic growth, stability, and international cooperation.

https://bnn.network/finance-nav/currency-auctions-in-iraq-and-azerbaijan-a-dance-with-economics-amidst-diplomacy-and-security-2/

The Dance of Dollars and Dinars: Understanding Iraq’s Economic Pulse, 2 NOV

The Dance of Dollars and Dinars: Understanding Iraq’s Economic Pulse

The soft hum of currency exchange counters in the bustling markets of Baghdad bore witness to a significant event. The U.S. dollar (USD) exchange rate against the Iraqi dinar (IQD) closed higher, reaching 162,600 IQD for 100 USD at both the al-Kifah and al-Harithiya Central Exchanges. This was a surge of 350 IQD from the opening rate, a dance of numbers that tells a tale of economic currents.

The Currency’s Pulse

The exchange rate between the Iraqi dinar and the U.S. dollar is a vital socioeconomic heartbeat, reflecting the stability and confidence in the Iraqi currency. An increased rate implies a growing appetite for the USD, possibly due to inflation, political tremors, or economic uncertainty. Conversely, a diminished exchange rate signifies a robust Iraqi dinar and heightened faith in the local currency.

A Turbulent Journey

The journey of the Iraqi dinar against the U.S. dollar has been a tumultuous one in recent years. It has been buffeted by a storm of political and security situations in Iraq, economic factors such as inflation, and the oscillating price of oil, Iraq’s main revenue source. The USD, often viewed as a safe haven currency, becomes the asset of choice for investors during uncertain times, leaving the local currency in the shadows.

Government Measures and Economic Implications

The Iraqi government, aware of the fluctuations, has taken measures to stabilize the exchange rate, from implementing monetary policies to maintaining a flexible exchange regime. However, the rate remains vulnerable to external factors, such as shifts in global oil prices or geopolitical squabbles in the region.

The exchange rate’s ripple effects touch every corner of the Iraqi economy. A weak dinar inflates the cost of imports, leading to an upsurge in prices for goods and services, burdening consumers, and fueling inflation. Conversely, a robust dinar renders exports pricier, hampering the international competitiveness of Iraqi goods.

Beyond the exchange rate, other economic elements, such as interest rates, government policies, and economic indicators, also influence the overall health of the Iraqi economy. It is crucial for the Iraqi government to continue implementing reforms and policies that foster economic stability and lure foreign investment.

The exchange rate between the Iraqi dinar and the U.S. dollar operates as a barometer of Iraq’s economic climate. It mirrors investor confidence and the stability of the local currency. Despite the volatility, the Iraqi government has taken strides to stabilize the currency and propel economic growth. Still, the exchange rate remains susceptible to external influences, underscoring the government’s challenge to sustain economic stability and attract foreign investment.

https://bnn.network/finance-nav/the-dance-of-dollars-and-dinars-understanding-iraqs-economic-pulse/

Iraqi Dinar🔥Finally Got Way Of Revaluation🔥IQD Holders🔥iraqi dinar news🔥...

"RV UPDATE" BY MILITIAMAN, 2 NOV

  Militia Man  

 Article quote:   "There are negotiations with the Iranian side to create a platform for new currencies other than the dollar to secure Inter-trade between the two countries.  It's called Visa Direct.  It's a new banking service launched by one of the most important digital banks in the country under the supervision of the Central Bank and in cooperation with Visa International...this will help in the collapse of the black market prices..."  Kinda big right?  International...That's their goal, get rid of the black market and I think the corrupt see their cash cow is about ready to go bye-bye.

  If they do in fact get the oil and gas law done they're going to need an evaluation for that . They're going to need to know what to pay the wealth of the citizens a fair distribution.

 Article quote:  "There are no sanctions imposed on Iraq by the US Treasury but sometimes there is a tightening of standards..."  They say it twice today in different articles that there are no sanctions imposed on Iraq.  If that's the case and the US Treasury gives the green light then, wow, we really have nothing holding us back...

Iraq Stock Exchange: A Beacon of Economic Resilience and Growth, 2 NOV

Iraq Stock Exchange: A Beacon of Economic Resilience and Growth

In the last week of October, the Iraq Stock Exchange (ISX) was a whirlwind of activity. The exchange, which is home to 103 public companies bearing the economic hopes of Iraq, saw equities valued at over six billion dinars changing hands. Investors engaged in 3,297 transactions, trading more than five billion equities, and the ISX60 index closed at a promising 820.06.

The Pulse of Iraq’s Economy

The activity in the ISX serves as a barometer of Iraq’s economic health. The robust trading and the upward trend of the ISX60 index are harbingers of stability and growth in Iraq’s economy and a beacon for both local and global investors. The stock market’s pulse is beating steadily, suggesting a level of investor confidence that could stimulate further economic growth.

The Role of Central Depository and Electronic Trading Systems

In 2009, the ISX underwent a significant transformation with the installation of Central Depository and Electronic Trading Systems. These technological advancements have streamlined the process of buying and selling stocks, enhancing market liquidity and efficiency. Beyond easing transactional friction, these systems have bolstered market transparency and curtailed the risk of fraudulent practices, making the ISX an even more enticing prospect for investors.

Diversification: The Key to Investor Attraction

The ISX’s portfolio of 103 public companies mirrors the diverse economic fabric of Iraq. Ranging from banking and telecommunications to industry and services, these companies provide a plethora of investment opportunities. This diversity mitigates investment risks, allowing investors to build a balanced portfolio and offering a safeguard against sector-specific downturns.

Currency Stability: A Balancing Act

The recent strengthening of the US Dollar against the Iraqi dinar in Baghdad markets testifies to the overall stability of the currency – a positive sign for the Iraqi economy. It signals confidence in the country’s financial system and a perceived stability that may attract more foreign investment. However, the slight depreciation of the US Dollar in Erbil hints at the existence of regional variations in Iraq’s currency market, potentially influenced by different economic factors and market dynamics in the two cities.

For both domestic and international investors, currency stability is paramount. It mitigates the risks of inflation and currency depreciation, rendering Iraqi dinars a more attractive asset. Moreover, it offers businesses a stable economic environment and reassures foreign investors about the value of their investments.

Overall, the recent flurry of activity in the ISX, coupled with the stability of the US Dollar against the Iraqi dinar, paints a picture of a resilient Iraqi economy finding its footing. The role of Central Depository and Electronic Trading Systems in enhancing the efficiency and transparency of the ISX, the diverse range of listed public companies, and the stability of the currency are collective indicators of a robust financial system. These factors make Iraq an intriguing and potentially rewarding terrain for investors, both home and abroad.

https://bnn.network/finance-nav/iraq-stock-exchange-a-beacon-of-economic-resilience-and-growth/

Iraqi Dinar’s Dance with the US Dollar: An Economic Ballet of Uncertainty, 2 NOV

Iraqi Dinar’s Dance with the US Dollar: An Economic Ballet of Uncertainty

Like a ship caught in a storm, the Iraqi dinar is bucking and heaving against the swell of the US dollar. The turmoil is not due to a single tempest but rather the confluence of several disturbances – an ongoing Gaza conflict, a political environment ripe with uncertainty, and unchecked trade with sanctioned countries. Against this backdrop, the dollar prices have ebbed slightly in Baghdad and Erbil, yet, the stability of the exchange rate remains in question.

The Forces at Play

Economic specialists weigh in on this complex scenario. Mahmoud Dagher, an authority on the matter, points to the above factors as potential storms brewing for the dollar. Similarly, researcher Halim Salman emphasizes the role of uncontrolled trade with sanctioned countries in the haphazard dance of the exchange rate. On the political front, Parliamentary representative Nayef Al-Shammari voices a concern that echoes in the hearts of many Iraqis – the impact of the climbing dollar exchange rate on ordinary citizens.

Intervening for Stability

The Central Bank of Iraq, like a captain trying to steady a ship amidst the gale, is working to bolster its dollar reserves. Collaborating with the US Federal Reserve, it aims to ensure the safety of the country’s financial journey. The parliamentary finance committee endorses this move while highlighting that both domestic and international winds are responsible for the fluctuating dollar exchange rate. It calls upon the citizenry to stand with the central bank’s policies and confront internal speculators and brokers. The committee is also proposing solutions to navigate the crisis and safeguard the strength of the Iraqi dinar and the nation’s hard currency reserves.

Global Currents

Zooming out, the US dollar appears to be losing ground against most currencies. Anticipating that the Federal Reserve may have reached the zenith of its rate hikes, investors are shifting their bearings. The fallout of Fed Chair Jerome Powell’s remarks post the two-day policy meeting seems to affirm this, indicating balanced risks for further rate amplifications. Consequently, the dollar index, a measure of the greenback against six other major currencies, has dwindled. Meanwhile, the pound is holding strong, reflecting the Bank of England’s decision to keep rates at a 15-year high and eschewing rate cuts in the foreseeable future.

In sum, the struggle of the Iraqi dinar against the US dollar is a dance choreographed by intricate domestic and global factors. The ongoing Gaza conflict and unregulated trade with sanctioned countries contribute to the shaky rhythm. The Central Bank of Iraq is striding towards increasing its dollar reserves in partnership with the US Federal Reserve. In the grander scheme, the US dollar is losing its footing against most currencies, while the pound remains steadfast. The dance continues, with each step impacting Iraq’s economic stability and the livelihood of its citizens.

https://bnn.network/breaking-news/economy/iraqi-dinars-dance-with-the-us-dollar-an-economic-ballet-of-uncertainty/

Iqd Iraq mater card and visa BY NADER FROM MID EAST

"RV UPDATE" BY MARKZ, 2 NOV

  MarkZ 

 [via PDK]   Comment:  I heard Iraq is applying to the WTO today [11-1-23].  Presumably meeting over the next 3 days.   MarkZ:  They have already applied…they have already been approved for ascension…but, it hasn’t happened…so these 3 days of meetings are very important.  Question:  Don’t they have to change the rate before Iraq joins the WTO?  MarkZ:  That’s what everyone says. This is assumed by almost everybody that Iraq will need to change their rate before they join the World Trade Organization...

 I finally got some chatter from Iraqi contacts today and they did say that things went very well over the weekend (WTO meetings?) and  they expect an announcement in the coming days. I got this from a number of sources- both internationally and domestic.

I have not heard from Iraqi sources in the sandbox yet today…. I know they had high anticipation for the 1st...Comment:  I think it will happen in January.   MarkZ:  I feel it will be much sooner…so much happening...now and all at one time.