A Significant Increase In The Rate Of External Remittances To The Dollar At The Central Bank Of Iraq Auction, 4 JAN

 A Significant Increase In The Rate Of External Remittances To The Dollar At The Central Bank Of Iraq Auction

Wednesday 03, January 2024 | Economical Number of readings: 390  Baghdad / NINA / External remittances increased at the Central Bank auction, today, Wednesday, by 91% at the expense of cash sales, to reach $188 million.

The Central Bank stated in a statement that, “During its auction today for buying and selling the US dollar, it sold 205 million, 298 thousand and 248 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for foreign transfers.” At a price of 1,310 dinars per dollar in cash form,

he added that most of the bank’s dollar sales went to strengthening balances abroad in the form of (transfers, credits), which amounted to 188 million 706 thousand and 693 dollars, an increase of 91%, compared to cash sales amounting to 16 million 592 thousand and 20 dollars.

He pointed out that the number of banks that purchased cash dollars reached 3 banks, while the number of banks that responded to requests to enhance balances abroad reached 18 banks, while the total number of exchange and brokerage companies participating in the auction was 34 companies./End 8    https://ninanews.com/Website/News/Details?key=1098954

"RV UPDATE" BY BRUCE, 4 JAN

 Bruce 

  [via WiserNow]

  I got a call  that said the...US Treasury was going to send out an email to all banks and redemption centers ...when we talk to people like the southeastern regional manager of Wells Fargo and certain other people they say everything is done...everything's done. We don't know why it hasn't happened. And when you get that from your top banking sources, that you really haven't heard what that email was - it tends to make us believe - Yes, we're super close, but we still don't know exactly when it's gonna go...

 A Bond PM with connections in Miami and Geneva expected the Bond Holders to have access and liquidity Wed. 3 Jan. or Thurs. 4 Jan. 

The same PM said that Tier 4b (Us, the Internet Group) should also get their notifications to set redemption and exchange appointments in that same time frame –  Wed. 3 Jan. or Thurs. 4 Jan. One bank said Wed. 3 Jan. or Thurs. 4 Jan. Formal public announcements of NESARA, GESARA and the new gold/asset-backed US Note were expected on or before Thurs. 11 Jan. 2024. Since Mon. 1 Jan. 2024 Iraq has been doing exchanges inside Iraq at the new Iraqi Dinar in-country rate. In Iraq the US Federal fiat Dollar is dead. They want them to transition to the new lower denoms. It was believed that the ban to exchange the Dinar at the new Dinar international rate would come off on Wed. 3 Jan.

https://dinarevaluation.blogspot.com/2024/01/rv-update-by-bruce-4-jan.html

Iraqi Dinar Investment Update!! | Responding To Comments | Remember Frid...

An Economic Center Proposes Changing The Mechanism For Delivering Dollars To Travelers At Iraqi Airports , 4 JAN

An Economic Center Proposes Changing The Mechanism For Delivering Dollars To Travelers At Iraqi Airports  

 Economy     breaking  center     Proposal     changing     Dollar delivery mechanism     Iraqi travelers

2024-01-03 Shafaq News/ Today, Thursday, the Iraqi Political and Economic Center presented a proposal to change the mechanism for delivering dollars to travelers at Iraqi airports, while recording several observations on the currently approved mechanisms.

The center’s director, Wissam Hadmal Al-Helu, said in a statement received by Shafaq News Agency,

 “The mechanism for delivering the dollar to travelers has witnessed in the past months   a lot of complexity and    did not provide it to many of its beneficiaries for the purposes permitted by the Central Bank.”

 He added,  "The mechanism adopted links that open at limited times, which causes great pressure on it and deprives many people of the ability to enter and reserve to request dollars, as well as

banks specifying specific numbers that are allowed to purchase, and then closing the application according to what was reported by the complaints of many that reached the Iraqi Central Bank."

 Al-Helu continued,  "Accordingly, the Center proposes another mechanism that is simple and protected at the same time, and that  it should be under the supervision of the Central Bank of Iraq and the competent authorities in Iraqi airports," explaining that

"the proposed mechanism includes enabling the traveler who meets the conditions to request what he needs from the 3,000 US dollars allocated to him."

The traveler brings an amount equivalent to the Iraqi dinar and delivers it immediately from inside the airport after stamping his passport upon departure and presenting the stamp, ticket, and board to the bank outlets located at the airports, whose employees are present 24 hours a day.

He pointed out that "this measure will facilitate the way travelers receive the dollar and ensure fair distribution and that the majority of travelers will not be forced to buy the dollar from the black market with a large difference from the official price, which constitutes pressure that represents one of the factors that contributed to raising the exchange rate months ago."

https://api.shafaq.com/ar/اقتصـاد/مركز-اقتصادي-يقترح-تغيير-لية-تسليم-الدولار-للمسافرين-في-المطارات-العراقية

"RV UPDATE" BY MARKZ & MILITIAMAN, 4 JAN

 MarkZ & Militia Man 

  Question:  What happens if they just print new notes and the dinar we hold are not good anymore?  

MarkZ:  That will never be accepted in the international world. You would have to have a closed economy to do that…like N. Korea. You cannot do that to the international world though.  

Militia Man:   We can clearly see the people behind this – the WTO, The IMF, The world Bank…the BIS, the Federal Reserve bank…

The US, Canada, The UK…all kinds of countries hold dinar in their foreign reserves. Iraq cannot just say…”Sorry guys- we aren’t paying you” That is not going to happen. We are talking trillions. 

Look at the US- The US embassy in Iraq is one of the biggest in the world. One of our presidents said we are going to get paid back for this. They are planning big things over the next few months and need an exchange rate to match. Sudani has been moving on steroids to get this done.

Iraq GOOD NEWS Progress Report - IQD Exchange Rate is Up Slightly BY SANDY INGRAM

Erbil announces completion of over 1000 projects in 2023, 4 JAN

 Shafaq News / The capital of the Kurdistan Region, Erbil Province, disclosed the number of completed projects throughout the past year, 2023.

Erbil Governor Omed Khushnaw, during a press conference stated that the local government in Erbil has succeeded in completing 1053 projects across various sectors during the year 2023.

He further mentioned that the budget for these accomplished projects in Erbil reached 202.5 billion dinars, sourced from the province's budget, ministries, and revenues from service departments. Additionally, he highlighted the allocation of 130 billion dinars from the Provincial Development Budget for the year 2024.

Khushnaw elaborated that the completed projects encompassed several sectors, including road construction, flood prevention initiatives, water, and sanitation projects.

https://shafaq.com/en/Kurdistan/Erbil-announces-completion-of-over-1000-projects-in-2023