Dinar RV Breaking News🔥The End of Dollar in Iraq!💣Significant Decline Sp...

The dollar is falling in Iraq, and the battle to tame it is nearing an end, 27 DEC

 The dollar is falling in Iraq, and the battle to tame it is nearing an end, 27 DEC

The local market has witnessed a gradual decline in the dollar exchange rate recently in a way that observers described as a rapid decline, suggesting that it will reach a level close to the official rate in light of the central bank and government measures with an American green light to release payments of savings at the Federal Reserve.

At the beginning of this week, the US Ambassador to Iraq, Alenia Romanski, announced that her country would continue to provide US dollar services to Iraq, as she told me in her tweet that “the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States continues its cooperation with the Central Bank of Iraq, and many banks Iraq has formed relationships with international banks for the first time, which is a positive step in making progress in reforming the banking sector, and we will continue to provide US dollar services to Iraq in the interest of economic stability.”

In conjunction with the statement of the US Ambassador, media reports circulated that the Iraqi government and the US Treasury had reached an agreement to launch further payments for oil revenues saved in the Federal Bank after Washington refused to request from Baghdad to provide it with two billion dollars in imports from the sale of oil, which caused a rise in the price of the dollar in the local market during The past months.

Representative in Parliament and member of the Finance Committee, Moeen Al-Kazemi, says that the dollar crisis in the Iraqi market is artificial, and the American side has a major role in causing it.

Al-Kadhimi confirmed in a statement to Al-Mutala’ Agency that “many government measures have been taken to stabilize the dollar exchange rate and pursue speculators in the parallel market, which contributed to its decline to lower levels than it was previously. However, the measures being taken by the US Federal Reserve are causing turmoil and affecting the dollar crisis.” in the country”.

He explained, “With the many measures of the government and concerned authorities, including the Central Bank, the dollar exchange rate will continue to fall to a level close to the official price of 132, but this requires stages or time periods in order to maintain market stability and avoid disturbances, so that it will be gradual.”

In turn, the economist Bassem Antoine attributed the reason for the turmoil and instability of the exchange rate despite government measures to speculators who work against the state’s policy.

Antoine says in a statement to Al-Mutala’ Agency, “To achieve stability in the dollar exchange rate, the economy needs to be sound by building a correct foundation and reforming the various economic sectors in the country. Otherwise, there will be no stability, especially with the presence of speculators working against the state’s policy.” “.

The economic expert confirmed, “This fluctuation in the dollar exchange rate means that there is no correct basis for building a strong economy, and there is no better option than building the economy on its correct foundations,” suggesting that “the dollar will rise again in the Iraqi market.”

For their part, observers and those interested in economic affairs expressed their interest in the rapid decline in the dollar exchange rate recently, highlighting the impact of the relationship between Iraq and the United States in controlling the price of the dollar as a pressure card used to achieve its policies towards the country.

In addition, Jamal Cougar, a member of the Finance Committee, said that the measures taken by the government are still insufficient to solve the dollar crisis, and quick solutions must be found regarding the foreign financing that Iraq conducts with a number of countries, anticipating the continuation of the dollar crisis, which requires a long time to be resolved. According to his opinion

In conjunction with the first signs of a decline in the dollar exchange rate, the media advisor to Prime Minister Hisham Al-Rikabi stated that the battle with the dollar is nearing its end.

In his tweet on the (X) website, Al-Rikabi said, “The will of the Sudanese government to carry out reform within the financial institutions in Iraq and the insistence on correction were important factors in strengthening confidence between Baghdad and Washington and constituted a positive step in achieving success within the banking sector. We said it previously and we confirm it today.” Our battle with the dollar is almost over.

On December 14, the Central Bank of Iraq announced that it had reached an agreement with the US Federal Reserve and the US Treasury regarding meeting Iraq’s needs for cash dollar payments for the next year.

The parallel market in Baghdad and the governorates is witnessing a noticeable decline in the exchange rate of the dollar against the dinar, and the selling price in banking offices in the capital today reached 152,750 dinars for every hundred dollars, while the purchase prices reached 150,750 dinars for every 100 US dollars.

almutalee.com

Evening News with MarkZ. 12/27/2023

"RV UPDATE" BY MILITIAMAN, 27 DEC

  Militia Man  

Iraq is going to go international.  We don't have very long time to wait as far as what they are telling us.  If they throw us a curve ball and we find out something different, don't shoot the messenger...I hope you have a Happy New Year and I think we're going to be moving forward with some really positive information.

They've met their new international compliance requirements.  The banks are facilitating currency movements and international trade going forward.  Really this is a very good sign that what we've been dealing with and what we've been waiting for is knocking on the doorsteps.  It is really good.

Keep positive.   Keep upbeat.  There's nothing bad as far as I can see at the moment.  We'll see.  Anything can happen.  Anything can change..

What I've always said is it makes more sense for Iraq to have a managed float which is effectively a fixed exchange rate...1 to 1 or 2 to 1, 3 to 1, 4 to 1 whatever they decide to do it makes it easier the higher that exchange rate is to defend...Having a...3 years budget keeps it stable...pricing stays stable.  

Anybody that says it's going to float to from a relatively low range to a high range over time they don't understand.  Article quote:  "The exchange rate will be fixed especially since it's been fixed in the federal budget law for 3 years says Saleh..."  This is coming from the advisor.  Don't talk about float.  It just doesn't make sense to anybody.

Since November of last year they have been working to do what?  Get rid of the parallel market.  And how are they doing that?  They're populating banks with many other currencies.  They're doing all those things that are necessary to do what?  Be article VIII compliant, to have a single currency, not a dual currency country.  They're getting rid of multi-currency practices.

  They're talking about reducing Iraq's dependence on oil.  Dependence on oil is going to go away because they have non oil related products...services...and sectors .  That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources.  They're going to have other than just oil.  They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector..

Everybody knows Iraq is about to go International and they're going to have a digital transformation ...When they have this investment budget and they start spending...Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism... mining, sulfur, phosphates...they're going to have revenue like no other.  

There isn't anything else like it, in my lifetime, that I can see is going to trump Iraq... Don't forget...Iraq has a massive amount of hydrogen for clean energy...nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible...It really is intense on how much money these guys are going to make on a regular basis..

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-21-dec.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-22-dec.html

BREAKING NEWS UPDATE - President Biden US Response in Iraq BY SANDY INGRAM

A political movement to cancel the strategic framework agreement between Baghdad and Washington, 27 DEC

A political movement to cancel the strategic framework agreement between Baghdad and Washington

Information / Baghdad…
The representative of the coordination framework, Ali Turki, revealed on Wednesday that there is a political movement to cancel the strategic framework agreement with the American side after Parliament resumes its sessions in the next few days, after the continued American attacks on the Iraqi security services.

Turki told Al-Maalouma, “Parliament held a session in the past few months to condemn the American attacks and all the indiscriminate bombing carried out by the occupier on the security services and the Popular Mobilization Forces.”

He added, “After Parliament resumes its sessions, it will witness a movement within the House of Representatives to cancel the strategic framework agreement signed between the Iraqi government and the American side in the recent period.”

He stated that “cancelling the agreement would distance the government from any justifications that would allow it to continue and work in accordance with the agreement signed between Baghdad and Washington, despite the government’s explicit announcement that there is no need for the presence of any foreign combat forces on Iraqi soil.”

almaalomah.me

"RV UPDATE" BY WALKINGSTICK, 27 DEC

  Walkingstick 

 The whole de-dollarization phase the monetary reform is going through right now is in order to not use the American dollar any longer.  This system was meant to be temporary.  It was not meant to last 20 years...They have stability and security.  These are the 2 factors we've been seeking.  They tell you they have it.  De-dollarizing is the last part before you introduce a new exchange rate and a new currency into a country...I should say de-foreign-currency-izing...A country should not have many currencies.  It causes many problems

At what rate will the IQD go into the [Middle East] basket?  I don't know...This is an RI.  This is the reinstatement phase.  The goal is to reinstate the value that the Iraqi dinar once was proud of...It's a reinstatement to get to the Real Effective Exchange Rate (REER) to a float.  The key is to let them get to that number.  

 Article:  " A government source reveals the Sudanese measures to reduce the dollar to its official price"  IT IS BECAUSE THE IQD IS GOING UP IN VALUE AGAINST THE USD...NOT THE OTHER WAY AROUND!

 Have we not been saying to you over and over again look for it in the beginning, in the middle or at the end of a quarter...Iraq is on a fiscal calendar year.  January 1st to December the 31st. This is the end of a quarter.  It is all about the accounting.  It's all about the numbers.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-26-dec.html