STATUS OF THE RV
There is not much new news this period but what we have is all fantastic and right inline what we would expect in this point in time.
So, I want to cover this fantastic news first and to do it we must remember what has been going on from the past moves of the Central Bank and the U.S. to finally break the parallel market.
Them I want to move on to the good news for today so we can connect the dots and see the significance of a very recent news and how it fits into the past.
😊You can get a sense of the actions the CBI has taken to monitor and manage its currency since 2003 in the article titled “EVALUATION OF THE CENTRAL BANK’S JOURNEY IN 22 YEARS”.
Wow its been 22 years already since the 2003 invasion and overthrow of Saddam Hussein and the implementation of the cursed currency auctions and the dependency of the U.S. dollar by dollarization of imports to Iraq.
But as you read the article you can clearly see all the measures the CBI has take and the long road battle to get their currency back.
I mean of course the dinar and break from the dollar. We have witnessed tremendous success and movement in this direction just in the last couple years.
The latest moves to de-dollarize came with the use of correspondent banks, the US cutting of paper cash US dollars and forcing electronic banking. Then just recently the CBI cut off getting cash US dollars from outside Iraq using the debit cards.