Question: "How long will we have to exchange IYO?"
The American dollar 3-zero notes are still legal tender. They're from the turn of last century! We still have 3-zero notes...and they've never been expired. But in this case it's different. IMO I think they'll probably give you within a year. Therefore it could be a year, six months, 3 months...
Of course they [the banks] are going to verify it [your dinars upon exchange]. I love when people say, 'Hey Frank I need my Certificate of Authenticity...So I can give it to the guy at the bank to prove this is real dinars.' Who told you that? ' The guy that sold me the dinars...'When you take your dinars to a bank they are not going to say let me see your certificate of authenticity. They will tell you if they are real or not.
The CBI meetings are in Dubai right now...they are coming to a conclusion.
Were the CBI meetings discussing, should we use this rate, should we do this, this this, that? No. What they were discussing is, 'Are we going to release it on this date at this rate and this is what we have to do and this, this, this and this.' Okay! Now these meetings IMO are coming to a conclusion. Yeah, they are working a few things but it's over and done with.
Iran loses to Iraq in Middle East bank negotiations? This is America’s plan
Estimates of an international research center
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Estimates from an international research center reveal that the recent intensive dialogues sponsored by the US Federal Reserve, between Baghdad and major banks in the Middle East, within the “dollarization” crisis, will strengthen the balance of trade and investment exchange with India, China and Turkey, against Tehran’s ambitions, and that matters are taking place under “American auspices.” “To adjust economic relations within a large and promising market in Iraq, with an understanding of the plans of the Islamic Republic when it wants to adapt to the new rules in the world of finance, sanctions, and raging wars.
According to Mehdi Dheghmi, head of the Iranian Trade Development Organization, Tehran will try to increase its contribution to the volume of trade and investment exchange with Iraq to rise to $40 billion in the year 2035 ($13 billion currently).
Therefore, the administration of US President Joe Biden is working to dismantle the episodes in which Iraq depends on Iran, starting from the energy sector, through Iraq investing its large reserves in the field of natural gas, which amount to 133 trillion cubic feet.
If this is achieved, Iraq will be able to achieve self-sufficiency in energy within the next five years, saving approximately 8 billion dollars annually, the value of gas imported from Iran to generate electricity.
In this area, the Central Bank of Iraq has been engaging in talks for weeks with a number of central banks in the region and the world to discuss the issue of expanding the basket of currencies that Iraq deals with in its foreign trade.
These discussions are taking place under the direct supervision of the US Treasury, where an understanding was reached with the central banks of Iran, Turkey, the Emirates, China, India, and the European Union regarding the currencies that will be used in Iraq’s foreign trade.
China occupies the forefront of trade exchange between Iraq and the countries of the world, as the numbers rose to reach 53.37 billion dollars, most of which is based on oil exports, while trade exchange with India reached approximately 37 billion dollars annually, especially with the increase in Delhi’s imports of Iraqi oil.
As for the exchange between Iraq and the European Union, it rose to the level of 24 billion euros last year, at a time when the numbers are expected to rise to double, especially with Iraq’s willingness and intention to export natural gas as part of Europe’s alternatives to Russian gas imports.
Iraq also recently joined the European Development and Reconstruction Bank, as this membership allows Iraq to develop its banking sector and create the appropriate climate for investment.
As the scope of trade between Iraq and the countries of the world expands, the connection of international interests to the Iraqi market increases, ensuring its stability and ensuring global energy security.
Geography plays an important role in the trade relationship between Iraq and Iran. The long borders between the two countries, the large number of commercial outlets, and the cheapness of Iranian goods compared to Iraqi products push towards increasing Iranian exports to Iraq. Iraqi goods exported to Iran are not equivalent to a tenth of Iranian goods exported to Iraq, which tilts the balance of trade in favor of Tehran.
This leads to an increase in the monetary supply of the Iraqi dinar in the Iranian market, where it is later used to buy the dollar and withdraw it from the Iraqi market.
Expanding the scope of trade between Iraq and the countries of the world would reduce the volume of trade with Iran in the medium and long term by 30%, thus reducing the volume of trade exchange between the two countries.
It is expected that China, India, and Turkey will control the volume of trade exchange with Iraq, at the expense of trade with Iran. The development path that Iraq intends to embark on will increase the volume of trade between Europe and Asia via Turkey. It will also increase the access of goods to the Iraqi market, reducing their cost and arrival time and enhancing competition for the benefit of the Iraqi consumer.
Within the framework of this equation, the government of Iraqi Prime Minister Muhammad Shia al-Sudani will have to search for and maintain a point of balance in its international and regional relations.
Developing Iraq’s trade relations with the countries of the world will be the fundamental turning point in Iraq’s foreign policies and ensuring its ability to manage its local files in accordance with the national interest.
UNAMI On Victory Day: We Reiterate Our Commitment To Support Iraq In Preventing The Return Of Terrorism And Violent Extremism
The United Nations Mission in Iraq (UNAMI) on Sunday reaffirmed its commitment to supporting Iraq in preventing the return of terrorism and violent extremism.
“On the sixth anniversary of the defeat of ISIS, we remember those who gave their lives in this crucial battle and reiterate our commitment to support Iraq in preventing the return of terrorism and violent extremism,” the mission said in a blog post read by Earth News.
“Protecting human rights and respecting diversity and democratic processes are essential elements of a cohesive and prosperous Iraq,” she added.
Al-Qaddo: We will not accept the guardianship of the American embassy over Iraq
Al-Qaddo added, “The American embassy arouses the feelings of Iraqis through its interventions, and asks why it does not target the rest of the international embassies,” stressing that “crossing lines will create problems and lead to crises, and the embassy must realize that its presence comes in accordance with international pledges.”
He pointed out that “targeting the embassy is not the first, and there are several parties with goals behind previous and current incidents,” indicating that “investigations will reveal the facts in the end, but the embassy must respect its legal status and not interfere in internal affairs.”
[via Babysmom] ...MOST RECENT ANTICIPATED OPENING RATES AS PER RAY...DONG .47... DINAR 3.81...WE WON'T KNOW UNTIL THE DAY WE GO TO EXCHANGE WHAT THE CURRENT RATE IS...
Clare
Article: "The World Gold Council announced, on Thursday, that Iraq and 4 Arab countries possess more than one million tons of global gold reserves ." Quote: "Iraq maintained its ranking of 30th globally out of the 100 countries listed in the table with the largest gold reserves, as it has not purchased gold since May, bringing its gold possessions to 132.7 tons, which represents 7.7% of the rest of its other reserves."
Nader From The Mid East
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1. [See the Iraqi dinar advertisement video under Guru Frank26's post below]
Report: More than 90 trillion dinars in cash are in circulation outside the banking system in Iraq
The Future Iraq Foundation for Economic Studies and Consultations counted, on Sunday, the local currency circulating outside the banking system in the country during the year 2023, and said that it exceeded 90 trillion dinars.
The institution stated in a report published today that the value of the issued cash currency increased from 78 trillion dinars at the beginning of the year 2022 to reach more than 102 trillion dinars at the end of the year 2023, with a growth rate in the issued cash currency amounting to 9.24% during 2023 and a growth rate in 2022 amounting to 20%, an increase. For the year 2019, by 58 trillion Iraqi dinars, according to data from the Central Bank of Iraq.
The report added that the cash currency outside the banking system amounted to approximately 93 trillion Iraqi dinars, an increase of 30% compared to 2022, and it is the highest volume of funds existing outside the banking system throughout the history of the Iraqi banking system.
According to data from the Ministry of Planning, the population of Iraq in 2023 reached approximately 43 million people, representing only 60% of them over the age of 15 years. Therefore, the number of Iraqis’ population who are more than 15 years old exceeds 26 million people, and based on the Ministry’s figures Work, which indicates that the size of social welfare beneficiaries is approximately 14 million people, while the number of adult Iraqi citizens who are not covered by social welfare is approximately 12 million people.
The report indicated that, based on data from the Ministry of Labour, the Ministry of Planning, and the Central Bank of Iraq, it can be concluded that the average value of each Iraqi’s hoarding of money in the Iraqi currency “exclusively” is approximately 7.2 million Iraqi dinars per citizen, higher than in 2019, which was approximately 4 million. Iraqi Dinar.
According to the Foundation, considering that each home contains at least two adults (a man and a woman) who are not covered by social care, the rate of each Iraqi home hoarding money exclusively in the Iraqi currency amounts to 15 million Iraqi dinars, which is a higher percentage than in 2019, which was approximately 8.12 million dinars. Iraqi.
The report noted that, based on these official figures issued by official bodies, every adult Iraqi citizen over the age of 15 (man and woman) who is not a beneficiary of social welfare was able to increase his money stored in Iraqi dinars by 1.2 million Iraqi dinars during the years 2022 and 2023 despite From the decline in the value of the dinar compared to the dollar in the local market, in addition to the rise in commodity prices and the rise in inflation rates by 4%, according to data from the Ministry of Planning.
Hoarded money is defined as the value of money that a person keeps away from the banking system, and does not invest it or buy his own assets, but rather keeps it away from financial institutions and exclusively in the Iraqi currency and not in other currencies.
The institution concluded in its report that some believe that these numbers may be illogical, and that Iraqis are suffering from a major shortage of funds and deteriorating social conditions. However, what is proven is that the Central Bank of Iraq has, in two years, exported more than 24 trillion Iraqi dinars, warning that more Of the 22 trillion Iraqi dinars that were hoarded by adult citizens and non-beneficiaries of social welfare. link