Govt Set To Announce New Measures To Stabilise Zimbabwe Dollar, 4 FEB

Govt Set To Announce New Measures To Stabilise Zimbabwe Dollar, 4 FEB

Finance, Economic Development and Investment Promotion Minister Mthuli Ncube says he soon will announce new interventions to deal with the recent volatility affecting the Zimbabwe dollar.

Speaking to The Sunday Mail, Ncube attributed the weakening of the local currency in the past few weeks to speculative behaviour and scarcity of hard currency in the market during “this high-demand season”.

He said the measures to prop up the ailing currency may include reforming the foreign currency auction system. He said:

Currency volatility is being caused by speculative behaviour in the market and a shortage of foreign currency during this high-demand season.

The government will be taking further fiscal and monetary policy measures, which may include auction redesign to deal with the volatility.

The government will also increase the supply of foreign currency at a time when demand for it is high.

The Zimbabwe dollar has lost significant ground to the United States dollar during the first three weeks of 2024.

The street rate weakened from US$1:$9 800 during the last week of December to US$1: $13 000 last week.

On the official market, the rate stood at US$1: 5 903 on 29 December and has since declined to US$1: $8 331.

More: Pindula News

Iraqi Dinar🔥Finally US Bank Collected 3zero Notes-Iraqi Dinar News Today...

"THESE COUNTRIES WERE NOT ATTRACTED BY A PROGRAM RATE... THEY WERE ATTRACTED BY SUDANI'S PROMISES." by FRANK26, 4 FEB

 Frank26:  "THESE COUNTRIES WERE NOT ATTRACTED BY A PROGRAM RATE... THEY WERE ATTRACTED BY SUDANI'S PROMISES.".........F26

Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq

1/31/2024  Baghdad - IA - Hassan Al-Fawaz

The Federation of Chambers of Commerce announced today, Wednesday, that the private sector witnessed a significant recovery in 2023, stressing that government support for the sector worked to attract countries to establish strong economic relations with Iraq.

The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “The private sector in Iraq witnessed a significant recovery during the year 2023, due to government support, in addition to the financial and monetary recovery in all Iraqi banks.”

He stressed, "The great government support for the private sector has had a positive impact on the influx of many countries to Iraq, to establish strong economic relations." 

He pointed out, "The BRICS economic phenomenon has become a reality in changing the economic world in the world, as the dollar and the euro are no longer the main currencies in financial dealings."  LINK

"RV UPDATE" BY PIMPY,, 4 FEB

 Pimpy

  We know Iraq is doing everything possible to get back on track and in the good graces of the international community.  The problem is they got Iran as one of their neighbors...that keeps bringing all kinds of conflict into their country...Turkey...the Untied States as well as Iran have done bombings inside Iraq.  All this is against their sovereignty.  These are acts of war.  There's not a whole lot Iraq can do about it...The last thing you want to see is Iraq all of a sudden become unstable.  

  A LOP is the removal and deletion of the zeros...There's no difference between them.  It's removing the zeros off the currency.  I've challenged all these people million times, show me proof.   Show us an article where it says the deletion, removal or lopping of the zeros is coming off the exchange and not the actual currency...

 Even with Kuwait 90% of their budget is on the sale of oil.  Where Iraq gets hurt and Kuwait doesn’t, if the oil prices dropped.   That’s what happened at the end of 2019 and 2020.  Their [Iraq’s] …economy was going to crash.  They had to devalue the currency and it saved them.  With Kuwait, that’s not going to happen.  Their Wealth Fund is something they can fall back on…Iraq cannot do that…Iraq is going to get there no doubt about it…We want it to go up in increments and keep the same currency we have…

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-pimpy-4-feb.html

Wow!💣Massive Volume of Dinar Being Moved Globally!🤔Iraq Dinar RV Updates...

BRICS: 34 Countries Ready To Join Alliance After Saudi Arabia’s Induction, 4 FEB

 BRICS: 34 Countries Ready To Join Alliance After Saudi Arabia’s Induction

A total of 34 countries have now expressed their interest to join the BRICS alliance as of February 1, 2024, according to CNN. South Africa’s Foreign Minister Naledi Pandor confirmed in a recent press conference that 34 countries are looking to enter BRICS. However, Pandor did not specify the names of the 34 countries in the joint press conference.

The interest in joining BRICS alliance is growing from developing nations as they want to stay ahead of the changing financial dynamics. BRICS is initiating a global shift removing the spotlight from the US dollar to keeping the focus on local currencies. The paradigm shift could uproot the US dollar’s global hegemony and challenge the traditional financial order controlled by the West.

The BRICS bloc aims to replace it with a new world order and operate a ‘multipolar world’ without the US dollar. Therefore, the coming years will decide the fate of the US dollar where developing countries are putting local currencies first. The next decade could be different where the US dollar will have to fight to protect its global reserve status.   LINK

"RV UPDATE ' BY FRANK26, 4 FEB

 Frank26   

Let's say you have 10-20 million dinars and you take it to a bank and you exchange it.  No bank in the United States of America is going to hold your millions in their bank.  Not physically and probably not electronically...You cannot park that much money in an American Bank.  You may have to exchange your money in stages.  You have to find protection for you money.  The bank is not going to let you put more than they can cover in their bank...

Some banks may change that and say we can cover that.  Ask the bank... [Look into] Treasury Bonds, annuities...trust funds, property...precious metals...I'm going to diversity in these and many others.  [NOTE:  Consult your financial advisors at the appropriate time about a diversification strategy that's right for your unique exchange amounts and circumstances.]

 Article "Securities: Electronic payment outlets are witnessing significant progress"  There is a massive volume of dinars being moved electronically around the world in many banks.

This week into next week many banks around the world are talking about what the CBI deliver to the GOI and they talk about it in Davos.  They know when it's to be delivered, they know the rate, they know the date, they know everything.  It is approaching us very very soon.  It is highly possible we are right around that two month range based on what I know...It's going to explode.  It's going to climb so quickly...It might happen so fast that it might jeopardize us.  We need to make decision quick...