Iraqi Dinar🔥Eventually Reinstatement On Forex🔥iraqi dinar RV update🔥iraq...

"RV UPDATE" BY PIMPY, 8 NOV

  Pimpy  

 One year report card...Al-Sudani and his cabinet...Given all the circumstances I would give Sudani definitely a B- .  To be honest I thought it was going to be a lot worse than this. 

 But like I said once the budget is passed we're going to start to see people's true colors.  The second year is going to tell us a whole lot about Al-Sudani.  Just when you think you got the right guy in there who seems to be getting everybody on the right path we have another election coming up again.  That's going to tell us everything we need to know...

I believe they're going to go up in increments as the dinar gets stronger especially next year when they're using solely the Iraqi dinar.  That's going to strengthen the dinar but there's always things that could change the way the dinar goes up in value.  Removing the sanctions would be huge..

Article: "The Baghdad dollar jumps to 168 after intense speculation on the stock exchanges"  So the exchange rate of the US dollar soared.  In other words that's the wrong direction.  

Quote:  "the selling price reached 1680 for every dollar."  What does this mean?  They need to change the exchange rate...At least go back to the original rate of 1190 dinar...

The Ministry of Interior is in the process of opening sites for the national card and electronic passport in countries around the world, 8 NOV

 The Ministry of Interior is in the process of opening sites for the national card and electronic passport in countries around the world

11/8/2023  Baghdad

The Minister of Interior, Abdul Amir Al-Shammari, confirmed on Wednesday that the ministry is working to open new sites for the national card and the electronic passport in a number of countries around the world.

Al-Shammari’s media office stated in a statement received by Al-Eqtisad News, “Minister of Interior, Abdul Amir Al-Shammari, participated in the seventh ambassadors’ conference, which included a dialogue seminar on (the consular services session), where discussion and dialogue took place regarding the joint work strategy between the Ministries of Interior and Foreign Affairs.” .

Al-Shammari stressed, according to the statement, “The Ministry of Interior always seeks to provide the best services to the Iraqi community by opening new sites for the national card and the electronic passport in a number of countries around the world, to facilitate the granting of documents.”

He pointed out that "the Ministry is working on an electronic entry visa (visa) project that will solve many of the obstacles facing the work of Iraqi missions abroad."  LINK

The Central Bank allows Iraqi banks to import foreign currency and requires them to meet 5 conditions (document) , 8 NOV

 The Central Bank allows Iraqi banks to import foreign currency and requires them to meet 5 conditions (document)

11/8/2023

The Central Bank of Iraq decided, on Wednesday, to allow Iraqi banks to import foreign exchange according to 5 conditions.

It was stated in a letter sent by the Central Bank of Iraq to the licensed banks and obtained by Shafaq News Agency, “Based on the requests received to the bank, and in order to provide the required flexibility to banks operating in Iraq, it was decided to allow you to import foreign currency from outside Iraq while adhering to the following: -

1- The amounts will be used for the purposes of meeting Ziyankum’s requests from duly registered companies, organizations and bodies, and individuals working for foreign companies or institutions who receive incoming remittances from outside Iraq.

2- Submit a request to the Central Bank of Iraq (Banking Control Department) that includes the quantity required to be entered along with the details of the shipment.

3- Payments must be entered exclusively through air ports.

4- Your commitment to register the serial numbers of these shipments and provide the Banking Control Department with them and the data of their recipients later.

5- Providing the Central Bank with the name of the foreign shipping company along with a copy of the license granted to it in its country.

The Central Bank of Iraq confirmed its continued provision of foreign currency to meet customer requirements and in accordance with instructions and controls in this regard. LINK

Nice love this new Iqd international BY NADER FROM MID EAST

"RV UPDATE" BY MARKZ, 8 NOV

 MarkZ 

 “The central bank of Iraq have decided to resume the sale of gold bars and coins starting from Wednesday Nov. 8th”.  ...they will be selling to private banks and the government. This is big imo…and shows more de-dollarization.  And shows a similar pattern to Zimbabwe…going back to gold to support the value of their currencies.

 Question:  Mark do you think the RV is waiting until January?   MarkZ:    I don’t think so.  So much is happening now…and all at once...Most of my sources believe things are moving at a wonderful pace this week.

Not a lot of RV news but, the overwhelming consensus is that they did their best to pull the trigger over Friday and Saturday. Their backup plan was Monday night or Tuesday....They feel very confident they will get this thing wrapped in the near future. There is a whole heck of a lot of expectations for the next 2 days

 Seems that things appear to be heating up…so many rumors.

Iraq’s Economic Landscape: A Dance with Oil, Gold, and Geopolitics, 8 NOV

Iraq’s Economic Landscape: A Dance with Oil, Gold, and Geopolitics

Oil prices have plunged to a three-month low, signaling turbulence in the commodities market. Coupled with this, the Central Bank of Iraq, after a six-month hiatus, has reignited its gold selling operations through an electronic platform dedicated to banks. The maneuvering in the precious metal market is noteworthy, with the price per ounce of gold surging to $1.9.

Fluctuating Markets: Oil and Gold

The economic landscape in Iraq is characterized by the volatility of oil and gold prices. The slump in oil prices coupled with the surge in gold prices underlines the instability in the commodities market. The reinstatement of gold selling by the Central Bank of Iraq suggests attempts to bolster the economy in the face of uncertainty. The escalation in gold prices in the wholesale and jewelry markets mirrors an increased demand, possibly serving as a safe-haven investment amid economic turmoil.

Economic Challenges: The Iraqi Dinar and Dollar Exchange

The volatility of the Iraqi dinar against the dollar, emphasized by the variable exchange rates, illuminates the economic hurdles facing Iraq. The uptick in dollar exchange rates may signal potential economic instability, influencing imports, exports, and overall purchasing power.

Geopolitical Tensions: Iraq and the United States

In the political sphere, the remarks from President Barzani concerning the bombardment of foreign troops in Iraq and the dialogues between Iraq and the United States on legal issues exhibit geopolitical strains that could sway economic policies. Moreover, the emphasis on enacting the oil and gas law and addressing revenue issues underlines the pivotal role of the energy sector in Iraq’s economic stability and the role of international players in shaping Iraq’s economic agenda.

Fighting Corruption: Technological Advancements

The focus on curbing money laundering and corruption through technological advancements accentuates Iraq’s endeavors to enhance governance and transparency – vital for nurturing an appealing investment environment and promoting economic growth.

On the whole, the economic and political developments in Iraq are entwined with the fluctuations in oil and gold markets, volatility in currency exchange rates, and initiatives to fight corruption and improve governance. Iraq’s economic stability is substantially influenced by international relations and the performance of key commodities on the global stage.

https://bnn.network/finance-nav/iraqs-economic-landscape-a-dance-with-oil-gold-and-geopolitics/