Iraqi Dinar✅ Iraq's Currency Exchange Rate Update! CBI Meeting Next Week...

Warplanes and complete American control… “information” reveals “accurate” details about Ain al-Assad, 27 JAN

 Warplanes and complete American control… “information” reveals “accurate” details about Ain al-Assad

Information / Anbar..
On Friday, the former director of the Jubba Municipality Department, one of the sheikhs and notables of Anbar Governorate, Qatari Al-Samarmad, revealed precise details about the Ain Al-Assad base, while pointing out that 80% of the total area of ​​the base is occupied by American forces.

Al-Samarmad said in a statement to Al-Ma’louma Agency that “80% of the total area of ​​the Ain Al-Assad base in the Al-Baghdadi district of Hit district, west of Anbar, is occupied by American forces after increasing the number of its forces to reach about 5,000, including soldiers and advisors,” confirming “the presence of about 150 warplanes and naming them.” In addition to weapons, ammunition, smart bombs, missiles, and light and heavy military equipment.”

He added, “The American forces have begun to control Ain al-Assad base despite the presence of security forces from the Jazeera Operations Command,” noting that “these forces occupy a small area that does not compare with the large area that the American forces own after they carried out expansion operations that included areas Another for the base building.

He pointed out, “The American forces have a landing strip for military and civilian aircraft, and there is no intention to evacuate these forces from the Ain al-Assad base building at the present time.”

almaalomah.me

"RV UPDATE" BY KAPERONI, 27 JAN

  Kaperoni 

 Article "US and Iraq agree to start talks to end presence of US-led coalition"

The dinar either rises gradually over time as Iraq's economy prospers reducing the money supply or Parliament will authorize the deletion of zeros reducing trillions to billions and a LOP. Not what we want to see.

 there is no way Iraq can RV the Iraqi dinar with [120] trillion dinar in circulation. No country could afford. Iraq's total net worth is only around $16 trillon dollars.

 There is no significant RV of the Iraqi dinar.  And if the dinar does ever go up in value, it will be based on the success and growth of Iraq's own economy.  There are no shortcuts.

  Article:   "Ali Al-Alaq, the current governor of the Central Bank of Iraq confirms that Iraq's money supply exceeds 100 trillion dinar."

 If and when the Central Bank decides to increase the value of the Iraqi dinar more than likely it will be based on some type of gradual float as a result of the success and growth of Iraq's own economy and an increase in GDP.

I hope each and every one of you find success in this investment...It may take time.  It may  be another 1 to 5 years.  I certainly hope not but I believe things could happen quickly over the next 36 to 48 months.  It all depends on Iraq.  

 ...We all know things don't happen fast in Iraq. Iraq has a lot of work to do in order to succeed. The first of which is pass over 100 stalled laws through Parliament to encourage investment in Iraq.  And at the same time the Central Bank of Iraq has to continue reforms to the banking system, digitalization, and apply monetary tools to meet compliance .

 A country's exchange rate is the result of the success and growth of their own economy. When you have a weak economy, you have a weak exchange rate.  Until Iraq passes laws, diversifies their economy and increases their GDP, nothing will happen with the dinar.   When Iraq passed their tripartite  3 year budget a few months back, it created the conditions for them to diversify and privatize their economy over the next three years.   Now Iraq is on the clock to accomplish such.

There's a new article out that many people are translating and confusing.  They are not talking about an RV in Iraq, they are talking about the spread being in compliance early next year. 

 Just a reminder the spread is the difference between the official rate and the market rate or street rate and has been way out of whack recently in Iraq. This article simply means they expect the spread to come down closer to the official rate early next year. There is no RV.

    A very important statement was made back in 2020 by the prime minister's economic advisor Mohamed Salah who used to be Deputy Governor of the CBI under Shabibi. He stated that Iraq's entire wealth including all minerals in the ground amounts to only $16 trillion dollars. Knowing that information one can then determine that there is no way a significant RV could ever occur with over 90 trillion dinar in circulation.  It doesn't make sense...

 They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand.  All of these processes and or steps required time.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-10-dec_0650267841.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-18-dec.html

Iraqi Dinar WOW Around $7.25 News Update Dinar IQD | Iraqi Dinar 2 New Rate

The Pentagon reveals the truth about the negotiations with Iraq: they are not about withdrawing from its lands, 27 JAN

The Pentagon reveals the truth about the negotiations with Iraq: they are not about withdrawing from its lands, 27 JAN

Shafaq News / The American newspaper “The Washington Post” confirmed that talks between Baghdad and Washington on the issue of the American military presence were ongoing even before the attack launched by Hamas on Israel on October 7, 2023, which led to the ignition of unrest in the region and exacerbated tension between the forces. However, it is not a negotiation to withdrawfrom Iraq.

In a report translated by Shafaq News Agency, the American newspaper quoted the Pentagon spokeswoman, Sabrina Singh, denying that the Iraqi-American Supreme Military Committee talks, which were announced by the Iraqi Ministry of Foreign Affairs and the US Department of Defense, were related to the withdrawal of American forces from Iraq.

According to Singh, the issue “is about the future of Iraq and ensuring that it is prepared to succeed in defending its own security and sovereignty, and how the United States can support Iraq to do that.”

A senior American official, who requested to remain anonymous, told the newspaper, “We have been discussing this for months. The timing is not related to the recent attacks.”

While the newspaper pointed out that Pentagon officials refuse to provide additional details about the form of the new arrangements that will take place in Iraq, it quoted a senior defense official as saying that the recent wave of militia attacks against American forces led to the delay of the committee’s meetings in the fall, but they will begin now, adding that “There is no way to predict exactly where this will lead, or on what timeline it will lead us.”

The newspaper pointed out that this lack of clarity left the door open to the possibility of the United States withdrawing its forces from some locations in Iraq, and perhaps from Syria, adding that American forces in Syria depend on logistical support from American soldiers stationed in Iraq.

The report quoted a senior military official as saying that about 70 Americans had been injured in militia attacks since October 2023, including one soldier who was seriously injured, noting that the continued American military presence played a role in preventing nearby ISIS cells from carrying out larger attacks.

shafaq.com 

"RV UPDATE" BY PAULETTE, 27 JAN

  Paulette  

 If they are truly heading to a simple 3 decimal space move on their exchange rate and...they are heading to 1.31USD to 1 IQD, they would have to make another move first to 763.4 from 1310...As of now, a simple decimal move  of 3 places would mean 1310 IQD to 1 USD would become 1.310 IQD to 1 USD or 76 cents per IQD..

The basket of currencies is what they intend to peg to instead of just pegging to one currency - the USD...This is what the CBI and the GOI has stated...If they are pegged to just one currency, if the value (purchasing power) of that currency drops significantly, so does the value (purchasing power) of the IQD.  If they are pegged to a basket a currencies, if one drops the others keep the IQD "propped up". This is extremely important to Iraq as they are predominantly an import country.  This is precisely what they stated years ago...Bottom line, the pegging to a basket is to maintain the purchasing power and stability of the currency and not a singular event to increase the IQD purchasing power.

 Clare:  With the closure...the dollar price decreased

1/20/2024

The main stock exchange in the capital, Baghdad, closed today, Saturday, due to the decline in the exchange rate of the dollar against the Iraqi dinar.

Selling prices in money exchange shops in local markets in Baghdad reached 153,250 Iraqi dinars for 100 dollars, while purchasing prices reached 151,250 dinars for 100 dollars.  LINK

Sir_Shawn:  IMO- CBI official rate 1310
1 USD ~ 1310 IQD = 0.000763
Drop the three zeros 
1USD ~ IQD 0.763 = 1.310 
Anyone for a mic  drop…

Question is when….

Paulette:  IMO......I don't believe .76 USD for one IQD (1.31 IQD/1USD) would be adequate for the Iraqis to want to abandon the more valuable USD......The MOP/MOI study all the way back in 2009 stated 1.14-1.18USD to 1 IQD to start for 3 years prior to reinstating the true value of 3.22USD per 1 IQD

Sir_Shawn:  Well in my opinion, you are right, so this brings up the basket of currencies and the float. The Dinar will correct itself probably instantaneous. The question is the second set of books where I believe they were using the 1.31 per Dinar. We know that all those buildings and cities were not built on 1310 Dinars. But still we wait…  IMO

Paulette:  IMO......the basket of currencies is what they intend to peg to instead of just pegging to one currency - the USD.  At least this is what the CBI and the GOI has stated in the past.  If they are pegged to just one currency, if the value (purchasing power) of that currency drops significantly, so does the value (purchasing power) of the IQD.  

If they are pegged to a basket a currencies, if one drops the others keep the IQD "propped up".  This is extremely important to Iraq as they are predominantly an import country.  This is precisely what they stated years ago and those articles are probably somewhere within the pages of the Final Article thread.  Bottom line, the pegging to a basket is to maintain the purchasing power and stability of the currency and not a singular event to increase the IQD purchasing power.

The issue I still see is in order to peg to a basket of currencies, they would "officially" have to depeg from the USD.  While I have yet to see the US relinquish their receivership status over Iraq and the fact that the US is desperate to try to keep the USD propped up, I am unsure the actual mechanism of how they will be allowed to depeg and then repeg.  It seems like receivership would need lifted first for that kind of move.

The buildings and cities were built on the USD value predominantly from oil sales.  The number of IQD to the USD value seems irrelevant.  Look at Vietnam and all they have accomplished with a currency value of less than a tenth that of the IQD.  The big difference is Vietnam expanded their currency supply and Iraq has not.  Iraq clearly has full intent to RI their currency and change their currency structure to rid itself of the 3 zeros.  These articles are definitely contained in the FA thread.

If they are truly heading to a simple 3 decimal space move on their exchange rate and as you said they are heading to 1.31USD to 1 IQD, they would have to make another move first to 763.4 from 1310.  Frank has said they had planned on one more move.  As of now, a simple decimal move of 3 places would mean 1310 IQD to 1 USD would become 1.310 IQD to 1 USD or 76 cents per IQD

https://dinarevaluation.blogspot.com/2024/01/discussion-about-news-of-dollar-price.html

Iraqi Dinar✅CBI Big News Revaluation Last 24 Hours-This is Good News Co...