Central Bank of Iraq Records Surge in Hard Currency Sales, 14 OCT

 In a week marked by significant financial movement, the Central Bank of Iraq (CBI) has reported a sharp increase in its sales of hard currency, with total sales exceeding $801 million. This marks an increase compared to the previous week’s sales, indicating a heightened economic activity in the region.

Surge in Currency Sales

The sales were conducted over five days, with an average daily sale amounting to $160,226,899. The most substantial sales were recorded on Thursday, with a staggering total of $208,387,458, emphasizing the robust demand for hard currency in the Iraqi market.

Foreign remittances for the week were not far behind, reaching $854,800,397, showing a significant increase compared to cash sales. This surge in remittances reflects the increasing globalization and interconnectedness of the Iraqi economy.

(Read Also: Solidarity in Baghdad: Iraqis Rally in Support of Palestinians Amid Israel-Hamas Conflict)

Exchange Rates and Market Dynamics

The exchange rate for documentary credits and international settlements was pegged at 1,305 IQD for every US dollar. Meanwhile, the rate for foreign remittances and cash sales was slightly higher, standing at 1,310 IQD for every US dollar.

Economic expert Abdul Rahman Al Mashhadani attributed the rise in dollar prices to the parallel market, which meets trade requests with countries sanctioned by the US. He further pointed out that financing the drug trade also contributes to the rise in dollar prices.

(Read Also: Massive Demonstration in Iraq Shows Solidarity with Palestine Amid Ongoing Conflict)

Proposed Solutions and Future Outlook

Al Mashhadani highlighted the need for a cultural shift towards relying on the banking system for financial transactions and emphasized the potential of investing in tourism in Iraq. Another expert, Safwan Qusay, underscored the importance of attracting Russian investments to Iraq and diversifying sources of investments.

In related news, Al Rafidain Bank announced the launch of an online dollar reservation system for travelers, a move aimed at facilitating currency exchange for those traveling outside Iraq.

Conclusion

The Central Bank of Iraq’s substantial sales of hard currency point to an active economy with robust demand for foreign currency. The bank’s initiatives to facilitate currency exchange and the call for more reliance on the banking system and diversified investments underscore the evolving financial landscape in Iraq.

https://bnn.network/finance-nav/central-bank-of-iraq-records-surge-in-hard-currency-sales/

JUDY NOTES, 14 OCT

Judy Note: Bank closures and runs have begun across Europe and the US.

Bank Runs & most severe US Bond Sell Off in history continues.

Global Currency Reset:

Fri. 13 Oct. TNT Tony Tweet: “It won’t happen tonight (Fri. 13 Oct.), but rather tomorrow night by midnight (Sat. 14 Oct.). They wanted it done before ForEx came back up.” 

Fri. 13 Oct. MarkZ: “Militia Man reported that Western Union was shutting down the financial borders of Iraq by refusing to make international transfers of money. I think that shows how close we are to the finish line.

Wed. 11 Oct. Frank26: “If you are a student of Forex you will be able to see right now that the Iraqi dinar is trading in massive volumes. It is putting itself in position for the new exchange rate to come out.”

Thurs. 12 Oct. Holly on Frank26: “Frank has a team in Erbil who went to the bank. They’re telling the citizens the rate is coming. He told her the rate went up two days ago, and they’re about to use the new national currency. Alaq said the Board of Directors of the CBI is going to release a new exchange rate. The bank is saying there has been a rise in the rate internally. They will be joining the BRICS and that may be the basket that floats internationally!”

The Central Bank of Iraq has 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/

Wed. 11 Oct. TNT Tony: “We are as close to a Global Currency Reset as we are to touching the Eye of the Storm. A takeover of the old SWIFT system by the Quantum Financial System (QFS) will totally divorce Central Banks and Governments from stealing our money and controlling our future.”

On Sun. 15 Oct. the IMF and World Bank could hold their last meeting.

Wed. 1 Nov. was the goal to have Currency Exchanges and Zim Bond Redemptions completed, although that date could vary.

Starting 1 Jan. 2024 the fiat US Dollar may be worthless, all currencies across the Globe could 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.

Fri. 13 Oct. GCR, RV, and QFS = Global Currency Reset | Attention, XRP Enthusiasts: The Euphoric Rise of XRP! – American Media Group (amg-news.com)  

54 Banks Closed/Scheduled To Close. Major US banks are continuing to close branches across the US, leaving an increasing number of Americans without access to basic financial services. Bank of America axed 21 branches in the first week of October, according to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday. Wells Fargo shuttered 15, while US Bank and Chase reported closing 9 and 3 respectively. In total, some 54 locations had either closed or were scheduled to close between October 1 and October 7. Of the overall closures, 3 were in Louisville in Kentucky. Eight of the 21 Bank of America closures were in California. https://www.dailymail.co.uk/yourmoney/banking/article-12628627/Bank-America-Wells-Fargo-branches-shut-October.html

The Iraqi Dinar's Game-Changing Announcement Potential to Replace the US...

"RV UPDATE" BY SANDY INGRAM, 14 OCT

 Sandy Ingram 

 Don't think you can come here [Online broker/bank etc] and at the last minute purchase Iraqi dinar as the currency is increasing in value because the first thing they are going to do is increase the cost of the currency as it changes.  This old investing - meaning we are not using the Forex Market.  We are purchasing currency, holding it until it increases in value against the US dollar and then we are seeing the currency for profit...

This money move by Iraq is to put an end to Iran wrapping itself around Iraq's finances...to control corruption and the illegal flow of money so they can get International investments.  This money move by Iraq is to show favoritism to their own currency and their own government.  Anytime the young girls decide to date or marry a man who has lots of US dollars rather than Iraqi dinars, then it is time to readjust the thought process.  Make no doubt about it, this money move will help strengthen the Iraqi dinar and hopefully the value of the IQD against the USD. [

 On the topic of Iraq's dedollarization  plan starting in January 2024... Article:  "BRICS:  What Iraq's Cash Ban Means for the Global Status of USD"  The BRICS people...are trying to say Iraq is abandoning the US dollar in favor of the BRICS' agenda.  WRONG...Iraq has over $100 billion US dollars in a New York Federal Reserve Bank and they understand the consequences of crossing over their own wealth.

Evening News with MarkZ 10/13/2023

Friday Evening News with MarkZ 

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good morning good afternoon good evening wherever you are. Welcome to the Evening News Live With MarkZ

Member: Welcome to the weekend…..trying hard to be patient

Member: We are all in the same boat. Good thing it’s a very big boat!

MZ: Let’s start with some rumors….I am sure you are hearing many of these from other sites. We were getting strange rates in Iraq today , especially in the Kurdish region. It doesn’t seem to be an official process but an unofficial process. Many merchants or money handlers have put a different value on their dinar. 

MZ: They believe the dinar is about to take a serious spike in value. So they were charging a premium if you wanted any of their dinar.

MZ:  It’s been an interesting day but, I have not been able to confirm the rumors of $1.13 or so rate…but I can verify the number of sources that tell me “yes, there were major wild swings in the dinar based on who you were negotiating with. So there was a lot of horse trading…or camel trading over the dinar value today.

MZ: I do think that is an important piece even though I could not confirm the rates many of you have said….I can verify the value swung greatly today. I believe its telling us that the people of Iraq believe the timing is very, very soon. 

MZ: Here is a kinda fun article “ GCR, RV and QFS=Global Currency Reset. Attention XRP enthusiasts –The euphoric rise of XRP” From American Media Group …I thought she did a great job…broke down some of our terms. It is worth sharing and the link is in today’s links 

Mod:  MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Member: MarkZ, Just before he left this morning, Mr. C. said that Iraq will have an RI (as opposed to the RV); what is an RI and what's the difference? Thanks.

MZ: An RI is a reinstatement of the former rate before they devalued the dinar……It is my understanding they can reinstate it to the old rate PLUS …add more for the inflation that happened during that time period…..I think the old rate was around $3.22-$3.30 or so…..then if you add in inflation for the last 20 years and you can justify a rate of over $4 or so,…….a RV is a revaluation of any rate that’s not the RI rate. 

Member: Are redemption centers still happening or are we just going to banks?

Member: The redemption center is a bank. The bank is a redemption center.

Member: Redemption Centers are banks, BUT not ALL banks are redemption centers

MZ: it’s all just definitions. What one person calls a redemption center-another calls a bank. But overwhelmingly redemption centers are in banks….Banks that are set up with people trained to exchange currencies and all the procedures and equiptment….. Call it whatever you want. Call it a “redeeming bank”  …

Member:  Hang on…. did i not define a redemption center already? Red carpet fountain in the middle with dolphins and cocktail waitresses? What part did u miss?

Member: Who is paying the redemption center employees?

MZ: The banks. Most work in dual roles….in wealth management and will be assisting with exchanges when it happens…..so most are already employed at banks.  

Member:  Our local Walmart installed new registers this week. The payment page now says "notes" and not cash.

Member:  I dont wanna think of it anymore I just want it to happen lol

Member:  I say flip the switch. We are all tired.

Member: Enjoy your Friday night everyone….see you in the AM 

“THE INFO IN THIS PODCAST IS FOR GENERAL INFO & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY.

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

JOIN US ON SATURDAY 9:45 AM EST CBD MATT & LUCAS KICK OFF THE FIRST 45 MINS. - FOLLOWED BY MARK’S NEWS UPDATES AT 10:30 AM EST

An expert reveals the importance of attracting Russian investments to Iraq.. What is America’s role?, 14 OCT

  An expert reveals the importance of attracting Russian investments to Iraq.. What is America’s role?

The economic expert, Safwan Qusay, confirmed today, Friday, that Iraq is trying to be in the region of economic balance by attracting investments from countries of the East or West, including Russia.

Qusay said in a statement followed by Mawazine News, “Russia represents a giant industrial country, and Iraq’s openness to the Russian system can be exploited by attracting investments in the agriculture, livestock, and transportation sectors. Especially if we manage the investment file in the iron and steel sector to create complementary industries at the train level.” And ships.”

He added, "Iraq is looking forward to investing in its geographical location and it needs to establish an industrial zone for strategic industries that complement the path of development and the presence of economic powers such as Russia that can contribute to these sectors. I believe that establishing a nuclear reactor to generate electrical energy will support the process of establishing this industrial city and that we will have diversity." In sources of investments .

He pointed out that "Iraq is looking forward to increasing the capacity of financial transactions with the Russian side outside the SWIFT system, so that it has trade with the East through this system and this reduces the pressure on financial bottlenecks in some cases." He continued, saying: "Russia is a country currently present in Iraq.

" It has investments in the energy and petrochemicals sector, and it may be ready for Russian investments. In return, there can be a link to the production of the continent of Asia through Russia, and to link the continent of Asia through the Al-Faw crossing and through border crossings with Iran for the crossing of goods from Russia to the continent of Africa via the Kingdom of Saudi Arabia. And Jordan.”

Regarding Iraq’s orientation towards a number of economic poles and the possibility of its exit from American influence as a result of this orientation, Qusay said: “Iraq does not have a region of attraction without others, but it must build a sectoral investment map so that there is competition in every sector, and I believe that the advantage of the economy is The return is what will determine the preference. For example, integration with the Russian economy at the level of agriculture, iron and steel industries, and nuclear energy. This could be the path.” He added

: “With the United States, for example, we need a technological city established by American companies at home .” The Iraqi and the British believe that British insurance companies are able to guarantee global investment in Iraq, and I believe that the division of regions and commercial and economic dealings with countries of the world are what will contribute to determining the path of investment in Iraq, and Iraq is not against any investment.”

Russian President Vladimir Putin and Iraqi Prime Minister Muhammad Shiaa Al-Sudani participated in the activities of the "Russian Energy Week" forum, which was held in Moscow.
In his speech at the opening of the forum, Putin stressed that "the global economy is moving to a multipolar model that has several growth centers."

For his part, Al-Sudani spoke at the forum about Russian development in the gas, oil, and electricity sectors, in addition to the Iraqi government’s priority in economic diversification through integrated energy, petrochemical, and integrated projects.  link

Weekend News with MarkZ 10/14/2023