Friday, October 13, 2023
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 13 OCT
[Iraq boots-on-the-ground report]
FIREFLY: The television said the dinar will be replacing the dollar and the auctions will come to an end,
then the CBI can control the exchange rate totally and we will be no black market anymore..
.The television says the Federal Reserve is still in control of the financial budgets but expects this to end in two weeks...
FIREFLY: Sudani said the banks that did not have our money that we deposited have basically been using that money on the black market to make money with a high exchange rate and this will stop.
They better come up with the month to pay our deposited money back or actions will be taken by the CBI toward these banks. He spoke to high end corruption and how this too will end.
FRANK: I knew Sudani had everything under control but this is a little surprising to me. It is very good news.
With huge profits.. a private bank “takes over” the currency auction and demands that the Central Bank reveal the fate of the remittances
With huge profits.. a private bank “takes over” the currency auction and demands that the Central Bank reveal the fate of the remittances – Urgent
Coffee with MarkZ and Mr. Cottrell 10/13/2023
Fluctuating US Dollar Rates in Iraq: A Tale of Two Cities, 13 oct
Fluctuating US Dollar Rates in Iraq: A Tale of Two Cities, 13 oct
The US dollar, a significant barometer of global economic health, recently experienced slight fluctuations in its exchange rates in Iraq. As international observers watched anxiously, the dollar saw a decline in Baghdad and a rise in Erbil, reflecting the complex economic dynamics of the country and the broader region.
Decline in Baghdad
The closure of stock exchanges in Baghdad led to a decrease in the dollar prices. The selling price plummeted to 160,150 Iraqi dinars against 100 dollars. This decline can be attributed to a confluence of factors, including the closure of stock exchanges, which disrupted the smooth flow of transactions. However, the precise reasons behind this decrease remain shrouded in economic complexities and are a subject of ongoing analysis.
Rise in Erbil
Contrary to the trend in Baghdad, Erbil saw an ascent in the value of the US dollar. The selling price escalated to 160,650 dinars for every 100 dollars. The reasons for this increase are as varied and complex as the city itself, which serves as the capital of the Kurdistan Region in northern Iraq and is an important economic hub.
Impact on Local Markets
These fluctuations in currency exchange rates are not just numbers on a screen; they have tangible impacts on local markets and everyday life in Iraq. For instance, a stronger dollar can make imports cheaper, but it can also make it harder for local businesses to compete. Conversely, a weaker dollar can make exports more competitive but can increase the cost of importing goods and services.
Future Implications
The future ramifications of these currency fluctuations are yet to unfold fully. However, they are likely to impact stakeholders ranging from local businesses to international investors. As the global economy continues to grapple with uncertainty, the fluctuations in the US dollar exchange rates in Iraq serve as a stark reminder of the intricate interconnections within the global economic system.
"RV UPDATE" BY FRANK26, 13 OCT
Frank26
Article "What is the relationship of the US Federal Reserve to the federal budget?" Quote "The Federal Reserves are still in control of the financial budget...he says the matter will end in two weeks." Two weeks? That's the third time I hear two weeks. Sunday when they were at the banks, Monday when they gave us the report and then today...The article is saying within 2 weeks the problem they've been having with their money...
[Kurdistan boots-on-the-ground report]SUPERGIRL: Yes, I'm waiting to go back in...I'm sorry I'm just overly excited...I went to the ATM 30 minutes ago to get cash, I went into the grocery store to ask them if they own the ATM. He said no. I said I tried getting USD out and it won't let me. He said it no longer will give you USD. I said why? He said because the currency rate just went up. When did that happen? Two days ago. I said are you serious. He said yes.
I got some things for the week and it came out to $80 but he cannot accept USD so it's going to be more...I said how much more? He said a lot more. He told me $100 USD is probably $180. FRANK: These changes are occurring internally. They're not advertising it. Forex wants to get a hold of this but the CBI is not allowing it just yet. They are still cleaning the terrorist activities...You try to get American dollars and they say no...They tell you to wait because the value is about to go up not of the American dollar but of the Iraqi dinar. SUPERGIRL: Yes. He said it happened two days ago here in country.
Kurdistan’s Duhok to complete population census by midnight, 22 NOV
Kurdistan’s Duhok to complete population census by midnight Shafaq News/ The population census process in Duhok, Kurdistan Region, is near...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...