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CBI Governor highlights significance of exchange rate stability in Iraq, 21 OCT

 CBI Governor highlights significance of exchange rate stability in Iraq, 21 OCT

Shafaq News / The Central Bank (CBI) Governor, Ali Al-Alaq, considered the exchange rate stability of the Iraqi Dinar against the Dollar as a "significant process" that necessitates changes in the Iraqi trade system and financial transactions outside the country. He made these remarks during his speech at the inaugural Annual Banking Conference in Erbil, held under the theme of "The Banking Sector: Opportunities for Advancement and the Future of International Companies."

Al-Alaq stated in his address, "It is essential to solidify the principles outlined in the Anti-Money Laundering and Terrorism Financing Law No. 39 of 2018 and implement international practices and standards to safeguard the financial system's integrity from risks, both on local and international fronts, ensuring transparency and the safety of financial operations."

Furthermore, he emphasized, "We reiterate that these principles are the ones that preserve the financial system's integrity and protect Iraq from serious risks, particularly concerning the relationship between applying these rules and standards and foreign exchange operations and the sale of the Dollar in various forms."

Al-Alaq continued, "There is a close connection between enforcing these standards and the smoothness of transfer operations and maintaining exchange rate stability. To the extent of this commitment, we can determine monetary stability and exchange rate stability. This is a significant process that requires a multitude of changes and the restructuring of the Iraqi trade system, the foreign transfer system, and everything associated with it." 

He pointed out that CBI is "engaging in this process with daily details until we reach the correct and proper path, opening new avenues every day to facilitate and expedite this process."

https://shafaq.com/en/Economy/CBI-Governor-highlights-significance-of-exchange-rate-stability-in-Iraq

"RV UPDATE" BY FRANK26, 21 OCT

 Frank26 (KTFA)

Article:
“Thwarting the smuggling of $400,000 out of the country of Baghdad Airport”

Corruption…smuggling…that’s what it’s all about.  That’s the #1 issue.  That’s how you’re gonna get what you want...This was a huge massive corruption cleanup for the new exchange rate to come out with security and stability.  It’s that simple.  This is not rocket science.  This is not complicated…There’s only one thing happening right now.  Sudani is cleaning the floor of the CBI from the corruption of these horrible people…

FIREFLY: Alaq is on TV.  He says it’s simple – The dollar exchange is high due to the black market.  Period.  End of discussion.  However he says the end of the black market will be seen and there’s no truth to Iraq printing a new currency. 

 That is totally untrue.  We have what we need.  We have reserves to back up the dinar and when the black market is dealt with the exchange area will be stable.

Alaq and Sudani are doing a good job because I looked at Maliki, Abadi, Kudami I don't see them as the equivalent as Sudani.  These three prime ministers...were all bad...    

FIREFLY:  Television...CBI governor is saying the reason why there's no funding for the budget instructions is not due to the exchange rate.  He's saying it's internal... 

FRANK:  Actually...it's due to the relationship between the dinar and the American dollar that's the exchange rate that they're talking about.  Notice they have to clean the floor of the CBI from all terrorism and that's why they're also doing this...The monetary reform plan is moving forward very nicely...

JUDY NOTES, 21 OCT

 Judy Note: If you were reading this Update on, or from Operation Disclosure Official, be aware that the information has been redacted. For a complete un-redacted version, see a PDF copy at the end of the Update on Operation Disclosure Official, or read an un-redacted version on the Rumor Mill Website.

Timeline:

• The Iraqi Dinar has revalued and since last week has been trading on the back screens of the Forex, putting itself in a position for the new exchange rate that was soon to be made public according to Iraqi Banks.
• The Central Bank of Iraq suspended Western Union service for international money transfer: https://search4dinar.wordpress.com/2023/10/12/central-bank-of-iraq-suspends-western-union-service-for-international-money-transfer/
• Iraq joined BRICS and banned cash withdrawals of US Dollars in Iraq: https://watcher.guru/news/iraq-join-brics-ban-cash-withdrawals-us-dollar
• Overnight Sun. 15 Oct. the Banks completed the remaining layers of payments and that same Sunday the IMF and World Bank held their last meeting.
• By Mon. 16 Oct. the Dinar was fluctuating in value on the back screens of the Forex, though was mainly at $1.47 to the USD in-country. Also, the RV launch algorithms were said to be ready to go; Dubai 1 had been released and Dubai 2 had almost finished it’s launch.
• On Tues. 17 Oct. Iraq passed a law giving 5% interest rates on all bank deposits. They encouraged Iraqi citizens to move their Dinars from under the mattress and deposit them in the bank for profit. “Our new automated Banking Systems are waiting to make it happen for you.”
• On Wed. 18 Oct. Iraq raised their interest rates because they were going to raise the value of the Iraqi Dinar.
• On Thurs. 19 Oct. the Whitehouse went red, the same day as the London Stock Exchange halted trading. On the 19th October 1987 the stock market crashed severely. Gold was going up and on 19th October SEC dropped its lawsuit against XRP which means there was nothing stopping major financial institutions using XRP for very large transactions. I wonder if we will see a massive Wall Street crash in October as it did back in 1929 (October) – but BIGGER everything going RED! …Yorkshire Lass on Telegram
• The 20 or so days of Disclosure was believed to have begun around Sun. 1 Oct. If so, that would take the RV Timeline to this Fri. 20 Oct. when all buy-sell Bond Operations closed, meaning you can’t buy any more bonds or foreign currency to exchange.
• EBS Activation on Sun. 22 Oct? Q says that “After Argentina’s election on Sun. 22 Oct. everything would change and the World would soon have no Internet for a while. We are approaching that Timeline. Get Ready for it.” …Q
• Starting the fourth week of October Repatriation and Reclamation Allowances would be paid out. The amount of monies paid back will be based on federal taxes paid since the 1940s, interest on mortgages, bank loans, car loans and credit card interest – along with interest earned on those monies over the years. Those 60 and older will be paid in three equal monthly payments for Oct, Nov & Dec. Those 50-60 will get payments over the next 12 months and those younger will be paid out over 15 years, though they have to be employed in order to qualify.
• Starting sometime in October and continuing for three months Social Security benefits will be significantly higher, topping out at $5,200.
• Repatriation Allowances for 60 and older will begin the 18th or 25th of Oct. as the beginning of three equal payments over the next three months.
• Wed. 1 Nov. was the goal to have Currency Exchanges and Zim Bond Redemptions completed, although that date could vary.
• On Sun. 19 Nov.  XRP gold/asset-backed digital currency would be official.
• Starting 1 Jan. 2024 the fiat US Dollar will be worthless, all currencies across the Globe will be on par 1:1 with each other, Social Security benefits will be much higher and the SS R&R payments start on a monthly basis.
• In the next three to six months the Rodriguez Trust will begin to administer “universal basic income” for citizens of all GESARA-compliant countries. The amount per individual or family will depend on the status, needs, employment level and age of the person/family and will work to encourage people to work if they can.

Global Currency Reset:

• Thurs. 19 Oct. Bruce: Currency Sellers have been advised they were no longer able to sell currencies after 11:59 pm Fri. night 20 Oct. Central Daylight time. Once the Currency Sellers stopped being able to sell, Tier4b (us, the Internet Group) would go. The optimal time we could be notified was Sat. morning 21 Oct.
• Wed. 18 Oct. MarkZ: “On the Bond side there are some with appointments this Friday(20 Oct.) and they are expecting full funding. There are also a couple appointments for over the weekend.
• Wed. 18 Wolverine: All operations will be closing by Fri. 20 Oct. which means you can’t buy any more bonds. The launch algorithms were ready to go on Mon. 16 Oct.Dubai 1 has been released and Dubai 2 could be finished by now. Banks completed the remaining layers of payments overnight Sun. 15 Oct.
• Wed. 18 Oct. TNT: The window for the rate change was still open. It can still be at any minute.
• "font-family: courier; font-size: medium;">https://dinarchronicles.com/2023/10/21/restored-republic-via-a-gcr-update-as-of-october-21-2023/

The Vietnamese Dong's Will It Reach $3 | HOT NEWS

Vietnam enhances positions in global value chain , 21 OCT

 Vietnam enhances positions in global value chain | Business | Vietnam

The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts. 

Statistics from Savills Vietnam, a property consultancy firm, showed that there were 2,508 FDI projects of EU countries in Vietnam as of June, with total registered capital of 28.91 billion USD. The figure represents a significant increase compared to 18 billion USD in 1,623 projects in 2016.  

The Q3 Business Confidence Index (BCI) report of the European Chamber of Commerce in Vietnam (EuroCham) released in mid-October showed that more than two years after its implementation, the European Union -Vietnam Free Trade Agreement (EVFTA) is continuing to have a positive impact on Vietnam's business landscape. More than 60% of businesses think the deal is beneficial, with the top benefit being tax cuts, followed by improved competitiveness, reduced trade barriers, and expanded partnerships with local firms and increased access to the Vietnamese market. 

As for the US market, the recent visit of President Joe Biden along with upgrading their comprehensive cooperative relationship, the interest of investors in this market is expected to increase in the coming time.

According to John Campbell, manager of Industrial Services at Savills Vietnam, although this event only took place about a month ago and will take time to see clear impacts, many US investors have shown their interest in projects in Vietnam.

A Savills Vietnam's research pointed out that in 2016-2022 period, a sudden increase in the export of electronics and phone reflects an improvement in Vietnam's position in the global value chain. Specifically, in the period, the export value of electronic, phones and machinery products increased by 193%, 68% and 336% respectively. 

Vietnam is focusing on attracting high value-added investments by improving its workforce and infrastructure while creating favourable conditions for small and medium-sized enterprises and support industries, Campbell said, adding that these efforts have been recognised by many large investors and Vietnam have been included in their future development plans.  

Vietnam's BCI in the third quarter of 2023 has increased to 45.1% from 43.5% in the second quarter of this year, according to EuroCham.

The country's global investment attractiveness remains strong, with 63% of surveyed businesses ranking the country in the top 10 FDI destinations, it said. In particular, 31% ranked Vietnam in the top three investment locations.

EuroCham Chairman Gabor Fluit, however, said that while promising Q3 GDP and FDI growth is seen, issues persist - especially with exports and real estate.

He went on to say that addressing administrative burdens, unclear regulations, and permitting hurdles is crucial to achieving progress.

Campbell suggested that to attract world-leading large companies, it is necessary for industrial park developers in Vietnam to focus on value-added services and incentives in addition to price and rentals such as market entry services, human resources and legal support, management services, sustainability initiatives and working with professional industrial real estate agencies.

https://en.vietnamplus.vn/vietnam-enhances-positions-in-global-value-chain/269943.vnp

For the first time in 16 years… US Treasury bonds rise 5%, 21 OCT

 For the first time in 16 years… US Treasury bonds rise 5%

On Friday, there was a brief moment when the dollar reached the 150 level against the yen, which is closely monitored. This was due to the rise in 10-year US Treasury yields towards 5% after Federal Reserve Chairman Jerome Powell hinted that there could be further interest rate hikes.

The yield on the benchmark 10-year Treasury note rose 30 basis points this week, marking its biggest weekly increase since April 2022.

The conflict in the Middle East triggered a flight to safety among investors, with gold and the Swiss franc being the preferred safe-haven assets, while trading in Treasuries was dominated by interest rate expectations.

Despite the rise in bond yields, the dollar did not see a significant improvement this week. It only made slight gains, hovering around 150 yen. This mark is seen as a potential level where the Japanese Ministry of Finance may take action to prop up the yen.

Speculators have increased their bullish positions in the dollar against other G10 currencies to the highest level in a year this month.

The USD/JPY pair settled at 149.870 on Friday, after rising to 150.00, and typically follows US 10-year bond yields.

Traders expect no change in interest rates at the next Fed policy meeting.

According to a recent Reuters poll, the likelihood of an interest rate cut in the first half of next year is diminishing quickly.

The pound dropped by 0.37% to two-week lows following a series of data indicating a collapse in British consumer confidence in October after weak retail sales the previous month.

The British pound dropped 0.2% to $1.2116, reaching its two-week low levels.

The euro stabilized at $1.0572, while the Swiss franc, which received demand from safe haven flows, is heading for its largest weekly gain against the dollar in three months, after rising one percent.

The Swiss franc has reached its highest level against the euro since 2015, when the Swiss National Bank removed the peg between the two currencies. As of the latest trading, the Swiss franc settled at 0.94345 against the euro on Friday.

In the external market, the Chinese yuan settled at 7.3361 to the dollar, as China kept its key lending interest rates unchanged at the monthly fixation on Friday, which was in line with market expectations.