Pimpy
Here's the thing that everybody is missing. Article: "Government adviser announces entry into force of 2024 budget" Quote: "...the exchange rule 12/1 does not currently exist under the Financial Management Law No. 6 of 2019, as amended until the beginning of 2026." What is Iraq's exchange rule 12/1?
...The 12/1 rule refers to the rate at which the Iraqi dinar is exchanged with the US dollar. 12 Iraqi dinars for every 1 US dollar...Over time the 12/1 rule has been revised several times...1160...in 2003...1170...in 2006...It looks to me like they're trying to say the exchange rate will change in the beginning of 2026.
What is that exchange rate? 12 Iraqi dinars for every $1.00. I think I have 4 million dinars. Divide by 12...that means I have $333,5000. That's what I get when I change in my Iraqi dinar 12 to 1...Take the number of dinars you have, divide by 12 and that's what you will get back.
According to this article that's not going to happen until 2026. Could something happen to expedite that? Of course it could. But they're saying here 2026 is when they expect to review whether or not they change it to the 12/1 rule. My view is this is their wall. [Note: Use the Dinar Guru Calculator to determine how much money you could have. Link is at the top of this page]
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