An Iraqi government official: The rise in the dollar is temporary. My bank: It is caused by the electronic platform
2023-07-18 02:02
An Iraqi government official - The rise in the dollar is temporary - My bank - It is caused by the electronic platformShafaq News / An official in the Iraqi government described, on Tuesday, the rise in the exchange rate of the dollar against the dinar in the parallel market, “my time,” stressing that the bank’s monetary policy will correct the situation, while the owner of an exchange office considered that the electronic platform is behind the rise.
In an interview with Shafaq News agency, the official said, “The rise of the dollar in the parallel market is controlled by the supply and demand factor, and therefore it is affected by rumors of speculators to reap profits,” noting that “the exchange market is one of the markets most affected by these rumors.”
He added, “People also accept the purchase of the dollar because they hedge against future increases in the exchange rate of the dollar on the other hand,” stressing that “correcting the exchange rate will remain a work of the monetary policy of the Central Bank of Iraq, and it is the only one capable of that.”
In turn, the Al-Waha Exchange Office indicated, in an interview with Shafaq News agency, that “the rise in the exchange rates of the dollar is due to the restrictions set by the Central Bank, which is the electronic platform in selling the dollar,” noting that “removing the platform would cause the dollar to decline (tenth of a tiger) and approach its official price.” “.
And the Central Bank decided to sell the dollar to banks and merchants by covering their imports through the electronic platform, in addition to financing the personal needs of all citizens, such as travel, treatment and study, through the electronic platform for cash.
The price of the dollar rose against the Iraqi dinar gradually, to reach today in the Kifah inch 148,250 dinars against 100 dollars, and in Erbil, the capital of the Kurdistan Region, 148,650 dinars against 100 dollars.
An Arab currency stronger than the US dollar.. “Forbes” monitors the 10 weakest monetary currencies in the world
2023-07-18 07:59
An Arab currency stronger than the US dollar.. Forbes monitors the 10 weakest monetary currencies in the worldShafaq News/ The American “Forbes” magazine discussed the 10 weakest currencies in the world, of which the Iranian riyal is the weakest, as well as the Lebanese pound, at a time when the Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.
The American report, translated by Shafaq News Agency, pointed out that the US dollar is seen as the strongest currency in the world and is the most traded, at a certain level, but it is actually not the strongest currency, but rather the Kuwaiti dinar.
Currency pricing
The report reviewed how foreign currencies are priced, explaining that foreign currencies are traded in pairs, for example, the purchase price of the US dollar is using the pound sterling, and as a result, the currency is always priced in relation to another currency, which is known as the “exchange rate”.
The report indicated that most currencies are “floating”, which means that their value fluctuates according to supply and demand, but some currencies are “pegged”, which means that their value relative to another currency (such as the US dollar) is fixed at an agreed upon price.
The report pointed out that exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound sterling rose against the dollar, vacation expenses in the United States would be less expensive in terms of the pound sterling.
He added that exchange rate movements provide an opportunity for investors seeking to make profits through trading foreign currencies.
Then the report reviewed the ten most vulnerable currencies in the year, according to an assessment based on the number of foreign currency units that are obtained for one US dollar.
Iranian riyal
The report considered that the Iranian riyal is the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).
He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.
He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.
Despite Iran’s leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.
Vietnamese dong
The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978.
He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.
Laotian Cape
The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.
Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency.
Sierra Leone
As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.
He added that Sierra Leone’s main exports include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.
Indonesian rupiah
The Indonesian rupiah is the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to free float.
The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.
Lebanese pound
According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.
He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.
He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.
Som Uzbekistan
The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.
Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.
Guinea franc
As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating.
Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.
Paraguayan Guaraní
And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.
Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.
Ugandan shilling
The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.
Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.
The saga about the Iraqi dinar RV only gets better and better this period. WOW! 😊 😊 So over these last couple weeks we experienced first-hand (no more rumors) that the US is “in fact” holding up Iraq from the project to delete the zeros and the liberating of their currency (reinstatement back to FOREX). There is now no more doubt about this. During these past two weeks I was told by my CBI contact to expect the new rate on FOREX. It did not happen. Upon further inquiry I was told the reason why.
During this past week I explored the White Paper once again and showed you article after article from the recent past and present of how the Central Bank has addressed the issues pertaining to the Stock Market and we now beg for the answer why have they not yet executed on the last item #6 in this section of the document?
Oh…. but the saga gets even better! 😊 As if it could….. As just over these last two weeks we have also seen article after article (I lost count) on the many Iraq politicians and analysts who have complained about the US and its violations of Iraq’s sovereignty. This is going to come to a point where something has to be done about it. There is now way to much interference in their internal and external affairs. Why? The Biden Administration is out of control. It is evident they are attempting to make Iraq a puppet state of the New World Govt Order. Iraq does not want to be a part of it.
They have told us this many times already. They have told us they do not want to digitize their currency on the Central Banking Digital Currency (CBDC) platform. So, you can see the fight and conflict is coming. In fact I believe it is now here. But it had to come, and it was long-awaited. But finally, so let’s get on with it. Iraq feels it is now mature enough and that momma no longer has to stop holding hands and so she must let go of her mature child into the world to stand alone. Will the US want to cut ties and fully recognize Iraqi freedom, democracy and sovereignty? Is there too much corrupt money involved. Has the corrupt US officials been sucking on momma’s tit way too long? After all why did we fight the 2003 war anyhow if not to liberate Iraq from a tyrant? Have they gone from the hot frying pan into the fire?
Yes, we are VERY close to something big happening with the dinar soon. I will not give you a target date as I do not spread rumors. How can anyone not see that we are on the precipice of something huge? I mean really huge!! 😊
Many times already, Al-Sundani has told the citizens of “Iraq the dinar is stronger than the dollar”. Really? How can this be, yet it is still less than 1/6 of a penny. So, when will they make this move and prove it to the world and given them a new rate?
Oh… by the way, Iraq just announced that the budget will open this week and they will begin allocating the funds. Is the project to delete the zeros in the budget? I am told it is. Is it now time to execute this project? I quote from the article – “A member of the Parliamentary Finance Committee, Jamal Kojar, confirmed on Wednesday that the dollar rate will fall against the dinar after the implementation of the provisions of the federal general budget.”
Just be patient, it is coming.
Hope to share all the rest of the good news with you soon!
Deputy Governor of the Central Bank: The campaign to support the dinar succeeded. and this evidence
Economy News – Baghdad
Deputy Governor of the Central Bank Ammar Khalaf announced on Sunday the success of the campaign to support the dinar, and while stressing the implementation of controls that helped stabilize the exchange rate, he pointed out that there is no problem with the amount of foreign currency supply.
Khalaf told the official news agency, “The Central Bank has supported exchange rate stability with a series of procedures, instructions and controls since the beginning of this year that included a wide range of transactions to import goods and services through access to the electronic platform.”
He added, “This was a key point for the inclusion of as many traders and individuals allowed to obtain foreign currency as possible,” explaining that “the acceleration of procedures was an additional factor in improving confidence in the electronic platform.”
He continued: “There is no problem with supply but by demand, as the offer exists, and it is intended for the purpose of financing foreign trade through the Central Bank; therefore, I think it is a problem with demand,” explaining that “the Central Bank is trying to address the problems to facilitate obtaining foreign currency to import goods and provide services to citizens and travelers for the purpose of hospitalization abroad.”
He pointed out that “the debt support campaign succeeded by the evidence that there are many goods and services that are now priced the dinar instead of the dollar, especially electrical and electronic devices.”
He added that “activating electronic payment in all sectors and shops takes some time, and there is a great demand and readiness by public sector companies as well as the private sector,” explaining that “there are great preparations and continuous meetings held by the Central Bank with all concerned authorities, as the current period is the stage of preparing arrangements for the purpose of starting electronic delivery by public sector companies and the private sector.”
"Café con Markz" Charla del martes por la mañana 7-18-2023
Miembro: Patriotas de la mañana. ¡Espero que todos tengan un gran día hoy!
Miembro: Entonces, ¿qué vamos a hacer si esto sigue arrastrando?
Miembro: Invertir es mucho alcohol.
Miembro: hagan compañía unos a otros hasta que Dios apriete el gatillo
Miembro: Familia RV… ¡Podemos hacer esto! ¡Podemos manifestar esto! Estamos casi alli
Miembro: Esperemos que Mark tenga buenas noticias hoy.
Miembro: ¿hoy es el día?
MZ: La mayoría de mis fuentes iraquíes están más entusiasmadas con el mañana o con la noche de esta noche. Pero, sinceramente, aún no sabemos el momento.
Miembro: Mañana es el día de Año Nuevo en el calendario islámico. Comienza al atardecer de hoy, 18/7/23.
Miembro: De Wolverine: OK chicos, sigo escuchando noticias muy positivas. Charlie Ward dice que cree que algo va a pasar esta semana (con una gran sonrisa) Solo deberíamos emocionarnos cuando Charlie nos dé luz verde. Oremos para que suceda esta semana. He recibido 1000% de confirmación pero no me han dado permiso para decir nada.
Miembro: Me pregunto si el RV comenzó ahora o todavía no.
Miembro: ¿Las noticias de Nader y Bobby King parecen que la tasa es mañana?
Miembro: video de Nader; vídeo del hombre de la milicia; Hoy es 18, tantas cosas maravillosas están sucediendo. ¡Vamos a la autocaravana!
Miembro: Mire el último Militia Man en la marca de 14 min. Habla del sistema de pago en iraquí. Menciona XRP. Ripple se reunió con funcionarios de la publicación anual iraquí en julio.
MZ: Sí, este fue un video épico de MilitiaMan anoche... No podría estar más de acuerdo con él en su nivel de emoción y estamos viendo cómo se unen todas las piezas. Este evento largamente esperado finalmente está ocurriendo justo en frente de nosotros.
MZ: En cuanto al presupuesto, mis fuentes dicen que lo están implementando ahora. El dinero ha comenzado a fluir y las cosas han comenzado a suceder.
MZ: Todavía estoy buscando artículos sobre esto que salgan de Irak. Podría ser mañana antes de que salgan.
MZ: Del lado de los rumores... Hablando con varias fuentes iraquíes que sienten que mañana es su día... No sé si lo es, pero podría serlo.
MZ: Estamos en un punto de inflexión... Sé que no se siente así mientras estamos aquí abajo en la trinchera y para mí creo que la marea ha cambiado.
Integrante: ¿Cuál será la cotización del bolívar?
MZ: No hay noticias sobre el bolívar venezolano.
Miembro: Para aquellos que solicitan tarifas, no tenemos RV'd, por lo que no hay tarifas reales y solo especulaciones en este momento.
Miembro: ¿Qué dicen sus contactos de canje sobre el tiempo?
MZ: No lo son. Desde ayer por la mañana no he podido comunicarme con ellos. 2 contactos en 2 estados me tienen golpeando una pared de ladrillos. Personalmente, creo que es una gran noticia que no pueda contactarlos.
MZ: “El FMI está considerando la inclusión del yuan chino como moneda para los acuerdos” Finalmente están averiguando lo que usted y yo sabíamos que hay algo fundamentalmente mal en el sistema… y está cambiando.
MZ: “La carrera alcista de los dólares reventados tiene a los bajistas llamando Fin de una era” Esta puede ser la semana que rompió el dólar.
Miembro: ¿Tenemos que esperar a que se implemente el protocolo 20 antes de que seamos RV? Ricitos de oro habla de ello
MZ: No, no estamos esperando el protocolo 20, es lo que me han dicho. Todavía necesito profundizar en el protocolo 20.
Miembro: ¿Qué mierda es el protocolo 20? ¿¿CUALQUIERA??
Miembro: Intenté buscarlo en Google y no puedo encontrar absolutamente nada sobre el protocolo 20... ¿¿Qué diablos es????
Miembro: Encontré este video…. ¿Qué es el Protocolo 19-20? - Sería la fusión de sistemas cuánticos - El acuerdo de confidencialidad expiraría el 11 de septiembre - Se podría adelantar, gracias a la desclasificación - La desclasificación vendría después de un evento de cisne negro - El Protocolo-19 se refiere a la regulación de la Estándar ISO 20022: el Protocolo 20 sería una transformación a las tecnologías cuánticas ¿ No está seguro de si es lo mismo de lo que habla Mark?
Miembro: ¿Estamos preparados para la tormenta magnética que ha sido “lanzada” desde el sol? Se supone que golpeará la tierra hoy
Miembro: ¡¡¡Estoy emocionado!!! ¡la mejor vida para nosotros está aquí!
Miembro: ¡Gracias y un agradecimiento especial a los maravillosos mods y Mark Z!
Miembro: Mark, muchas gracias como siempre por las últimas noticias y actualizaciones.
"US inflation data released last week bolstered investors’ hopes that the Federal Reserve was close to the end of its interest rate hike cycle."
The dollar formed a major peak in September 2022, and it has been falling against major currencies since that time.
It has given countries like India an opportunity. They are considering expanding their Foreign Portfolio Investments with the US.
This is giving India (BRICS) a well-positioned opening to set up their UPI or Unified Payment Interface mechanism with the US and the Middle Eastern Countries.
A move that allows investment trading/payment systems between the US, India, and Middle Eastern Countries to form new price action patterns going forward.
New currency valuations (exchange rates) will form out of these supply and demand setups.
Digital Foreign Trade Surges as Online Exports and Overseas Markets Grow, Says Ali International Station Report
"In a recent semi-annual report on digital foreign trade, Ali International Station revealed that digitization has become the prevailing trend in various export industries and foreign trade markets. The report showcased remarkable growth in online exports and increased online traffic in the first half of the year."
We are getting reports that the digitization of trade around the world is really picking up speed.
This will increase the velocity of money going forward and provide needed organic liquidity at the push of the button to move items around the world more efficiently.
The speed of which merchants can build their companies has just increased. The potential to move forward with projects without interruptions is now in the cards.
Money velocity increases demand and demand increases values.
We truly have a Global Currency Reset in the making.
