The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed Tuesday, that the government is committed to implementing the electronic payment decision in various ministries, while explaining that there is an ambition to reach the end of the parallel market for the dollar in the coming days.
burathanews.com
MarkZ
[via PDK] “Iraq’s ports emerge as key transit points amidst international shipping route changes” With the unrest in the Red Sea…they have found alternative paths through Iraq using ports, rails and trucks. I think this one is big and solidifies Iraqs position in the international world. They are also shoring up their financial world and Iraq’s position as a trade hub. They are going to need a currency to go with it…especially once the de-dollarize. Question: What does your gut say? MarkZ: That we may be in the last week or the last days of this thing.
[via PDK] Comment: Exchanges should not be taxed…but, be prepared. MarkZ: That’s the way I look at it...memo from the US State Dept. directly about Iraq...The last sentence says “ There are no taxes or subsidies on purchases or sales of foreign exchange.” [NOTE: Always consult with your tax professional at the appropriate time to determine the right tax for your unique circumstances.]
Pretty quiet from Iraq so far today. One of my sources believe the local elections had some effect on our timing and are finishing the ballot counting before they release rates. If hes accurate…the counting should be finished in the next day or so, Possibly as early as today. I have one source in Iraq who believes they will release the rate in Iraq as soon as they finish seating these new electees. Possibly in a day or so or as early as today.
So far this morning - very quiet…no real changes since last night. There is nothing negative…Just no news saying anyone is spending any money yet this morning. Maybe we will get more news throughout the day today.
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-markz24-dec.html
Advisor to the Sudanese: Work is underway to diversify foreign currencies in Iraq’s trade with the world, 27 DEC
{Economic: Al-Furat News} The Prime Minister’s Financial Advisor, Mazhar Mohammed Saleh, confirmed the success of government procedures and the Central Bank of Iraq in managing the demand for the dollar and contributing to lowering the exchange rate in the parallel market recently.
Saleh told {Euphrates News} that “the government’s procedures were coordinated with the Central Bank in managing the demand for foreign exchange in an easy and flexible manner through regular banking channels, which made the electronic compliance platform meet today 95% of the actual demand for the foreign currency at an exchange rate of 1320 dinars per dollar.”
He pointed out that “monetary policy has made it possible to use various foreign currencies to finance foreign trade for the private sector and through banking channels such as the UAE dirhams and the Turkish lira, in addition to the euro, the Chinese yuan and others.”
Saleh revealed that “work is underway to diversify foreign currency sources according to trade regions with the world and in an accessible manner.”
It is noteworthy that local markets have been witnessing for days a noticeable decline in the exchange rate of the dollar, as it fell for the first time in months to below 1500 dinars per dollar.
The media adviser to Prime Minister Hisham Al-Rikabi said last Sunday that “the battle with the dollar is nearing its end,” referring to government measures in limiting the rise of the currency in the parallel market and making it close to the official price of the Central Bank of 1,320 dinars to the dollar.
Raghad Daham
Frank26
[North West US Bank Story]
BANK STORY WOMAN: All the way up until a few months ago, I kept buying dinar from this bank...The VP came into the office and says, 'Hey, we want to know why are you buying all this dinar? Is there something you know that we don't know?'
FRANK: Oh, my goodness. BANK STORY WOMAN: I kind of gave them the foundation of it and then before you know it I end up walking into the bank [weeks later] they sort of shouted at me, so have you heard anything? This was in the lobby! I was looking around like oh, my gosh why are they talking so loud?
I have my fingers next to my lips. They said, oh it's okay everybody is invested here.
FRANK: They got invested and now every time they see you they want to know more. Yeah, this is a small bank. That's why they don't know too much about it. But the fact that you planted a seed with them and you know very well they went and asked questions to the right people in the banking industry. Next thing you know they're waiting.
BANK STORY WOMAN: ...They have a lot of branches in 5 or 6 states. They're big but they're not big like Well Fargo or other companies.
Sudani: We will announce 10 new residential cities to reach 250-300 thousand housing units
