AN ECONOMIST SPEAKS PASSIONATELY ABOUT THE FATE OF THE “ANCIENT” IRAQI DINAR AGAINST THE DOLLAR, 29 DEC

 AN ECONOMIST SPEAKS PASSIONATELY ABOUT THE FATE OF THE “ANCIENT” IRAQI DINAR AGAINST THE DOLLAR

Economic researcher, Ziyad Al-Hashemi, said on Tuesday that the Iraqi government and the central bank have exhausted and weakened the value of the Iraqi dinar in a difficult journey with the dollar.

Al-Hashemi stated in a post on the “X” platform, that “the currency that rebounds against the dollar due to a statement (a foreign ambassador), and then declines the next day due to (military strikes) here or there, cannot be considered a cohesive currency or capable of… Preserving value, but the problem is not with the currency, but rather with those who work in its name.”

He added: “The Iraqi government and the Central Bank exhausted the Iraqi dinar and weakened its value and reputation during a difficult journey with the dollar, during which the state drained tens of billions of dollars to prove the saying (the dinar is stronger than the dollar), and so far the official system has not been able to achieve that.”

He continued, “It is unfortunate that the fate and reputation of the (ancient) Iraqi dinar is in the hands of an official government group, which does not value its legal value as it should, and does not work properly to defend it or restore confidence in it locally and internationally.”

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"RV UPDATE" BY WALKINGSTICK, 29 DEC

 Walkingstick  

They are telling the citizens in the middle of January the IQD exchange rate will finally match the official exchange rate of the CBI.  What is the official exchange rate of the CBI high now?  1310.  Do you think it will stay at 1310?  No.  No matter what the CBI exchange rate is in the middle of January the CBI is saying the market rate and the official exchange rate of the CBI will be the same.  So it could be an RI rate.  Or it could be at 1310...It really doesn't matter what the rate is.  As long as they are the same... 

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

🔥Iraqi Dinar🔥Put it at $2 -$2.25🔥News Guru Intel Update IQD Value to USD...

CHINESE CAPTURE OF “LARGEST SHARE” OF IRAQ’S OIL SALES LAST MONTH, 28 DEC

CHINESE CAPTURE OF “LARGEST SHARE” OF IRAQ’S OIL SALES LAST MONTH

Economy News _ Baghdad

The Iraqi Oil Marketing Company (SOMO) announced on Tuesday that Chinese oil companies were the most numerous to buy Iraqi oil during the month of November.

“SOMO” said in a statistic published on its official website and seen by “Economy News”, that “Chinese companies were the most numerous among other international companies in the purchase of Iraqi oil, and by 7 companies out of 33 companies that bought oil during the month of November.”

She added that “Indian companies came second with 6 companies, then American companies came third with 4 companies, South Korea came fourth with 3 companies, Greek, Italian and Spanish companies came with two companies each, while the rest were distributed to Emirati, Japanese, Jordanian, Russian, Malaysian, Holland-British and Turkish companies with one company each.”

Somo indicated that it “relies in its sale of Iraqi oil on the main criteria for contracting with major and medium international oil companies, independent and vertically integrated government,” noting that “the most prominent international companies that bought Iraqi oil are the Indian company “Andlan Oil, Korean Kokaz, Exxon Mobil of America, Eni of Italy and Shell of the British Dutch.”

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"NORTH WEST US BANK STORY" BY FRANK26, 28 DEC

  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

Iraqi Dinar🔥Crispy Time For Iraqi Dinar RV Holders Today 2023🔥iraqi dina...

ECONOMIST: THE BLACK MARKET FOR THE DOLLAR HAS BEGUN TO DISAPPEAR AND THE EXCHANGE RATE IS RISING TODAY DUE TO CHRISTMAS, 28 DEC

ECONOMIST: THE BLACK MARKET FOR THE DOLLAR HAS BEGUN TO DISAPPEAR AND THE EXCHANGE RATE IS RISING TODAY DUE TO CHRISTMAS

The economic expert, Abdul Rahman Al-Sheikhli, believes that the black market for the dollar has begun to disappear and the exchange rate has risen today due to Christmas.

Al-Sheikhli said: For the {State Dialogue} program broadcast by Al-Furat satellite channel this evening, it said: “The government and its president, Muhammad Shiaa Al-Sudani, are determined to restructure and develop the performance of the governmental or private banking sector, as many of them do not perform their duty in the required manner, and the government clarified an economic vision that was very far from sight.” 

He added: “Dealing in the Turkish lira against the Iraqi dinar is a qualitative leap that needs to be replicated with the rest of the neighboring countries,” noting that “60-70% of small merchants do not have bank accounts.”

Al-Sheikhli continued, “The parallel market began to decline during the past two days, and today it rose slightly due to Christmas, and its rise is not correct,” noting that “the conflicting people and some black market traders are in control of the parallel market, and the security services are working hard to limit these, and the governorate councils will also have a supervisory role.” active”. 

He expected the dollar to fall “below 145 thousand dinars during the next stage, and the exchange rate to stabilize significantly in the coming year.”

 Al-Sheikhly added, “Economic and financial policy is dependent on political stability, and the focus must be on the source of the decision in the House of Representatives, which is represented by the parliamentary committees to follow up on financial policy.”

He stated, “The goods in the shopping centers in the governorates are very stacked, and the committees previously formed with the Ministries of Finance, Planning, and Trade must be reconsidered with the Central Bank to limit the entry of bad goods.”  

He pointed out, “The black market situation has begun to fade, and control over the entry of goods from unofficial outlets limits the expansion of the parallel market.”  

Al-Sheikhly concluded by saying, “Some general directorates collect large sums of money that are spent for the purposes of reconstruction and rehabilitation of buildings. This is not true. They must be included in the general budget and are supposed to form part of the state’s revenues.”

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