Wednesday, January 3, 2024
SUDANESE: IRAQ IS GOING TO END THE PRESENCE OF THE INTERNATIONAL COALITION FORCES AND WE REJECT THE US ATTACKS ON OUR FORCES, 3 JAN
SUDANESE: IRAQ IS GOING TO END THE PRESENCE OF THE INTERNATIONAL COALITION FORCES AND WE REJECT THE US ATTACKS ON OUR FORCES
"RV UPDATE" BY NADER FROM MID EAST, 3 JAN
Nader From The Mid East
Question: "Is the rate and the [lower] currency gonna come out together?" I think yes. This is why I think yes. First, because they cannot change an exchange rate with a big numbers [rate] and Second, they cannot change a [lower] currency with the small exchange rate...If you change, you've gotta change both. If you take the 3-zeros from the currency, you're gonna have to take the 3-zeros out of the exchange rate in the same time. That's what I think.
Happy New Year, best wishes and all that stuff...A lot of people are sending me messages going like do you see any changes? ...I don't know why you're asking me that. What you guys heard? Who told you anything? Some people wrote me tonight at midnight the currency will be launched. Some people said their new rate will come out tonight at midnight ...I didn't see anything like that. They didn't say they're going to change the rate tonight. They didn't say they're coming out with currency tonight... They'll never tell you they're coming out with it...I'm not expecting anything tonight...To prevent wasting money, a parliamentary committee calls on the government to expedite sending the oil law, 3 JAN
To prevent wasting money, a parliamentary committee calls on the government to expedite sending the oil law
Information / Baghdad..
On Tuesday, member of the Oil, Gas and Natural Resources Committee, Nazem Al-Shibli, stressed the need for the government to expedite sending the oil and gas law to the committee for study and approval to control the pace of revenues from the sale of oil.
Al-Shibli said in an interview with the Al-Ma’louma Agency, “The Oil and Gas Law regulates the method of extracting oil and oil revenues in accordance with the interpretations of the Iraqi Constitution in the section on the distribution of natural resources.”
He added, “The government is required to send the oil and gas law for study and approval in the House of Representatives to control the pace of oil exports.”
He explained that “enacting the law is sufficient to resolve disputes between the region and the center,” stressing that “accelerating the adoption of the oil and gas law is a guarantee in the export, sale and investment of Iraqi oil wealth, not that it remains without a law.”
In a previous statement to Al-Maalouma, former MP Jassem Al-Bayati accused the Kurdistan Region of obstructing the passage of any consensual formula regarding the oil and gas law, indicating that the rampant corruption in the Kurdistan oil sector is one of the most important reasons for the delay in passing the law.
almaalomah.me
"RV UPDATE" BY SANDY INGRAM, 3 JAN
Sandy Ingram
People have been asking, 'Why is the Iraqi dinar one rate in Iraq and a different rate online...?' There are two major reasons for the different rates. 1. The Iraqi government imposes strict currency controls to limit the flow of dinars out of the country. This creates a dual exchange rate system: Official rate - fixed rate imposed by the Central Bank of Iraq...Market Rate - Freely fluctuating rate is used for private transactions and most imports... 2. The IQD is not widely traded internationally ...Limited demand for dinars outside Iraq weakens its value on
the international market. But...they are now saying speculation about a potential revaluation of the Iraqi dinar sometimes influences online prices... Speculation investors, that's us. We are causing fluctuations in the currency value...In January 2024 foreign currencies will no longer be allowed inside Iraq and any violations will be criminalized. The Iraqi dinar will be used for all transitions.
Why are we seeing reports of a meeting with the IMF in Jordan and a meeting with the Department of the Treasury and the US Federal Reserve in Dubai? ...The meeting with the IMF had to do with the IMF staff team helping the Iraqi authorities reform the banking system...A drone attack on a military base hosting US troops near Erbil in northern Iraq...caused casualties...Iran-backed militants claimed responsibility for the attacks...The attacks occurred on December 25th.
Inflation...political stability... balance of payment...national debt...recession - each of these seven categories helps determine the currency rate of any country...We want to wish each of you a happy holiday..
Article: "Iraq links Baghdad US embassy attackers to security services"
The attacks against US forces have continued. The Iraqi government said several people who are alleged to have attacked the US embassy in Iraq last week have links to the country security services...
Article: "Iraqi council elections: Almost 17 million voters head to polls on Monday"
Iraqis have begun voting for the first time in a decade to select new provincial council members who in turn will appoint governors...results are expected to be announced on Tuesday.
Iraq cuts oil production by 223,000 barrels per day voluntarily. Iraq is over 90% dependent on oil revenue and oil prices, therefore when OPEC speaks we listen and we listen very carefully, almost as carefully as when the CBI makes and announcement.
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-sandy-ingram-sheila-18-dec.html
Article: "CIA warns Baghdad of serious consequences if attacks against US personnel continue" Since October 17th the US presence in Syria and Iraq has been under constant threat.
https://dinarevaluation.blogspot.com/2023/12/rv-update-by-clare-sandy-ingram-15-dec.html
[We] tried to ignore this news however, that is not possible Article: "Iraqi PM places security forces under investigation over US embassy attack" Iraq is doing what they can, but have not been able to stop the attacks against American Forces in Iraq. Article: "Iran-backed militia vows more attacks after US Embassy in Iraq comes under fire" When you attack the embassy of another country, this is far more serious.
The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers. The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar...[We're] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption.... The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world... The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...