I talked to my CBI contact...and I was told this decision of 2027 is not yet final.She told me she cannot understand how they would even think about waiting that long to swap out the currency.
This is something they need to happen now. Even another couple months might prove disastrous.
I...want to point out the convergence of events that is about to happen. We will get peace in the middle east, Iran’s influence in Iraq will end, the IQD will be on FOREX, accession to the WTO, and we will be going to the bank. The only issue we don’t know for certain is the timing of it all. For us we must watch the timing of the removing the zeros.
This will be the movement we need to see. There is ABSOLUTELY NO WAY the IQD could EVER go back to FOREX at a rate to attract investors at 1/6 of a penny so it will have to be at least over the 1990 pre-war days of $3.22.
Iraq MUST FIRST REMOVE THE ZEROS thus swap out them out for the newer lower denominations.
The ONLY reason why they have not yet done this is due to corruption...Shut this corruption with Iran down and then remove the zeros and “away we go”...
The Central Bank of Iraq (CBI) on Saturday rejected circulating reports claiming plans to increase the US dollar exchange rate against the Iraqi dinar.
In a statement carried by state media, the Central Bank emphasized that "reports claiming an intention to raise the exchange rate of the dollar are completely unfounded," confirming that "no decision has been issued in this regard."
The central bank added that "the official exchange rate approved by the Central Bank has undergone no change," urging news outlets and social media users to "exercise accuracy and rely on official sources when reporting news related to monetary policy and the exchange rate."
Read more: https://channel8.com/english/news/6
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🚨 IRAQ’S CENTRAL BANK REJECTS DOLLAR RATE HIKE RUMORS 🇮🇶
📰 NEWS SUMMARY
💵 The Central Bank of Iraq (CBI) has denied reports claiming it plans to increase the US dollar exchange rate against the Iraqi dinar.
🏦 The CBI confirmed that no decision has been issued to raise the exchange rate and that the official rate remains unchanged.
⚠️ The bank urged media outlets and social media users to verify information and rely on official sources.
📊 ANALYSIS | WHAT DOES THIS MEAN?
🔎 For now, there is no officially announced devaluation of the Iraqi dinar.
🇮🇶 The statement appears aimed at reducing speculation and preventing unverified currency rumors from affecting market sentiment.
💡 The key is to watch for future official announcements from the CBI. Until then, claims about a change in the exchange rate should be treated as rumors, not confirmed policy.
🎯 BOTTOM LINE: The official exchange rate remains unchanged. Any future adjustment would require an official decision from Iraq’s Central Bank.
