Iraqi Dinar🔥IQD Back To Forex Rate Internationally Today 2023🔥iraqi dina...

"IRAQ NEWS ANALYSIS" BY MNT GOAT, 10 NOV

 AN ECONOMIC VISION TO END THE DOLLAR’S ​​DOMINANCE OF THE IRAQI MARKET

On Wednesday, the head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, presented an economic vision to end the crisis in the parallel market for the dollar in Iraq.

Al-Tamimi told Al-Maalouma, “The rise in the dollar exchange rate in the parallel market was not surprising, but was indicated in our expectations a month ago from now for multiple reasons, some of which are external related to Washington’s position on the Sudanese government and others are internal related to the Central Bank and the extent of implementation of measures in reality.”

He added, “The Chamber of Commerce put forward a 7-dimensional vision to contain the parallel market, starting with investigating the mechanisms for granting the dollar at the official rate at the specified outlets and seeking to end the dollarization of several sectors at home and stressing this measure, pointing out that the crisis is not temporary because there are accumulated factors that caused its exacerbation.” Recently”.

He pointed out that “70% of the dollar is exported abroad because Iraq is devoid of industries that supply its markets with basic needs. This is a catastrophic matter that was overlooked after 2003, which makes the country’s economy dependent on external conditions, and any crisis will hit hard internally, requiring a comprehensive review to revive the industry again.”

(Sounds a lot like the problem the US is having. The US is a consumer nation and does not produce much anymore to the rest of the world. Why? Who changed all this. The US was once a great nation of solid wealth built by hard work and manufacturing. Now millionaires/billionaires are built of hedge funds and speculation of stocks. What’s wrong with this picture? There is lots we can learn from the situation in Iraq.)

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Baghdad reaffirms commitment to OPEC+ agreement, 10 NOV

 Baghdad reaffirms commitment to OPEC+ agreement, 10 NOV

Shafaq News / The Iraqi Ministry of Oil declared on Friday that the surge in the country's crude oil exports is a natural occurrence and does not impact the OPEC+ agreement on production levels. The ministry reiterated its commitment and support for this agreement.

In a statement, the ministry addressed recent media reports regarding the increase in Iraq's oil exports. It clarified that the rise in exports for some producing countries, including Iraq, is a natural phenomenon that does not affect the agreed-upon production levels for the OPEC+ group. These increases in export levels sometimes occur due to fluctuations in domestic consumption, it explained, citing natural conditions as one of the influencing factors in the rise or fall of domestic consumption rates.

Emphasizing the commitment of OPEC member countries and allied nations outside OPEC, including Iraq, to maintaining stability in global oil markets, the Ministry of Oil highlighted the importance of achieving the interests of producers, consumers, and investors, steering clear of temporary gains sought by some speculators.

The ministry's statement underscored that OPEC+ will not hesitate to make decisions ensuring stability and balance in global markets. Projections indicate an increase in demand quantities during this year and the next, aligning with the optimistic outlook for global economic growth following recent statements from the International Monetary Fund. The IMF revised its expectations for China's expected economic growth from 5% to 5.4%, reflecting significant recovery after the COVID-19 pandemic.

https://shafaq.com/en/Economy/Baghdad-reaffirms-commitment-to-OPEC-agreement

Iqd Misdemeanor Court of Integrity: Iraq has come a long way to get off ...BY NADER FROM MID EAST

SUDANESE ADVISOR: THE WHITE HOUSE WILL MAKE A DECISION REGARDING IRAQ’S FUNDS IN THE FEDERAL BANK, 10 NOV

 SUDANESE ADVISOR: THE WHITE HOUSE WILL MAKE A DECISION REGARDING IRAQ’S FUNDS IN THE FEDERAL BANK

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed on Tuesday that the White House will renew the Federal Bank’s authorization to deposit Iraq’s funds from oil exports next March, despite the fact that the Iraqi balances in the Federal Bank will be frozen.

Saleh said, in an interview with the Maalouma Agency, that “the reserves of the Central Bank of Iraq have been subject to the diversification rule since 2006, and represent the investment portfolio of the monetary authority.”

He added, “These reserves vary, according to the international standard investment guides for reserves issued by the International Monetary Fund, between various currencies such as the euro, monetary gold, the pound sterling, the Chinese yuan, and the Japanese yen, in addition to the US dollar.”

The Sudanese financial advisor explained, “These currencies are in different proportions, and according to the weight of the foreign currency in Iraq’s foreign trade,” stressing, “There is no objection to intensifying diversification into other currencies in addition to the dollar, which essentially represents the currency of oil revenues.”

He continued his speech, saying: “Based on Security Council Resolution 1483 issued in May 2003, the principle of accumulating oil revenues in an account for oil receipts at a global bank was approved, and the Federal Reserve Bank in New York was chosen for this purpose.”

Saleh stated, “This account was used to collect Kuwait war compensation amounting to 5%, and it was taken from the revenue from the export of every single barrel of oil or any products, if any,” adding, “The oil receipts account and the reserve account in dollars are still subject to protection according to the White House presidential order.” Which is renewed annually every year in the month of May.

He stressed, “Most of the issue relates to the aforementioned UN Security Council resolution regarding the oil receipts account opened in dollars at the Federal Reserve Bank.”

During the current period, America has worked to destroy the Iraqi currency by imposing sanctions on Iraqi banks and banning the dollar under many pretexts, which in one way or another led to a severe financial crisis in the Iraqi markets.

(I told all my readers a long time ago that because they have taken so long to de-dollarize it will be hard to change the mindset and black market devices to sell the dollar and make money. So change is hard but the US govt is finally stepping in this year to make the necessary changes. We can clearly see that Iraq could not have RV’d so many times with all the stupid claims by these intel gurus. Still even now they persist it going to happen this week or next weekend. Idiots…all of them!)

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The Baghdad Chamber of Commerce announces a proposal to get rid of the “parallel market”, 10 NOV

  The Baghdad Chamber of Commerce announces a proposal to get rid of the “parallel market”

The Baghdad Chamber of Commerce announced a proposal to get rid of the “parallel market.”

 Firas Al-Hamdani, head of the chamber, said: For the program {Free Speech} broadcast by the Al-Furat satellite channel this evening, it said: “If we turn to the work policy of the Central Bank of Iraq, the Chamber of Commerce is a sponsor of the Baghdad sector of companies and merchants; but we were surprised by the decision to import the US dollar in agreement with some accredited banks.”

He wondered, “Who will organize this process, how can American currency be imported from other countries, and the possibility of benefiting from and working on organizing such an important file?”

Al-Hamdani added, "Imported talk that may be misconceived leads to a fallacy, and we must have a true vision of this concept. The Iraqi dinar does not exist in the Arab or international currency market to buy the dollar, and Iraq does not have a number or name on the list of Arab and foreign currencies."

He pointed out that “it is not possible to import the dollar and secure it in the local market without registering the dinar in the basket of Arab and international currencies.” 

Al-Hamdani suggested, "The Prime Minister should direct the Central Bank of Iraq to formulate an economic policy and open documentary credits to all merchants of all categories according to a policy drawn up by the Central Bank in agreement with the Federal Bank to get rid of the parallel price."

Al-Hamdani stressed, “Iraq enjoys a strong economy and the political tremors do not affect its economy, but the Central Bank witnessed a demonstration by affected people who deposited their sums without result, and confidence today is lost.”  

He stressed, "the need for the Central Bank and the security authorities to monitor and hold accountable those who trade in the unofficial exchange market, and the government must provide all service means to facilitate the transfer of amounts." 

Al-Hamdani added, "The state holds accountable and imprisons traders for a few hundred dollars and leaves the adults. The government must take care to provide services to the Iraqi merchant, who is a strategic partner of the state."

He concluded by saying, "The Central Bank law gives it the authority to provide paper and metal currencies, and the Iraqi merchant needs the dollar in light of the large disparity in prices. It is illogical for him to wait several months to obtain the currency."

Wafaa Al-Fatlawi   LINK

"STATUS OF THE RV" BY DINAR IRAQ & DONG VIETNAM, 10 NOV

 STATUS OF THE RV

The CBI and the Finance Committee are really tightening their restrictions on the dollar.

They need to get this de-dollarization process ended.

They told us recently they were ending it but what happened to that?

Why not just make the dinar much more valuable than the dollar “officially” by raising the rate?

So, we can see the CBI wants to follow up on this outcome.

But who is stopping it?

But we know they first have to create the demand for the IQD outside of Iraq.

That is the hurdle the CBI is now working on.

They must now get agreements in place to accept the dinar in trade transactions with other Arabic countries and other developed nations trading partners.

Iraqi economic expert Khaled Haider told us on Tuesday, that the exchange rate of the US dollar against the Iraqi dinar on the black market would stabilize in parallel with the government pricing, starting next year.

This is not the first time we have heard this news.

Can they do it?

I will tell you one thing I know for sure is that they must stabilize the parallel rate with the “official” rate by 2% and we all should know this by now.

This is direction from the IMF.

So will the rate in January be the rate we want as the “official” rate or still the 1320 or another program rate?

V All I can say to answer these questions is what I know and am being told by my CBI contact right now.

I am told that the committee my contact is working with will begin the re-education about the process to delete the zeros, in mid-November but only if the Israel completes it’s job in the Gaza strip.

Contrary to Arab sentiment with the Palestine cause, the CBI seems to stay neutral in this matter and knows it will not get a signoff form the US if this is not settled with Hamas and it is not irradicated.

Personally, I do not think Israel is going to be pulling out of Gaza by mid-November.

On Tuesday (November 7, 2023), a very informative article was published by development and investment expert Amer Al-Jawahiri.

He identifies three negatives to the Central Bank’s electronic platform for selling the dollar.

We must stand firm in our prayers.

Just look back to last January and see all the changes in Iraq.

Also look back to this period and see all the exposure in the US of the corruption.

But in either case its still not all done.

It is November 2023 already and the election cycle is just around the corner.

So, if God is going to bring on his storm and change the direction of this nation in a way only God can do and people will recognize that it is God and not the elections, then it must be done very shortly.

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