"RV UPDATE" BY MNT GOAT, 5 FEB

   Mnt Goat 

ONE OF THE REASONS WHY THE REVALUATION CONTINUES TO BE DELAYED

THE CENTRAL BANK EXPECTS DOLLAR PRICES TO DECLINE IN THE MIDDLE OF THIS YEAR

Former official in the Central Bank of Iraq, Faleh Daoud, said that the exchange rate of the US dollar will fall to less than 1,500 Iraqi dinars by next June.

(What? First they told us it would fall by December, then by the new year and now June? It is obvious the CBI can not control the rate of the parallel market unless it took drastic measures and we know what those measures are. So why are they afraid to do it? Are they being blackmailed by the corrupt?)

Faleh Daoud said in a statement followed by Mawazine News, “The dinar’s exchange rate depends on the market and demand, because the currency market plays a role in its price, not the central bank,” noting that “the recent actions of the US Treasury Department and the Federal Reserve regarding transferring the dollar to Iraq caused… In the decline in the value of the currency, which is the reason for the instability of the dinar against the dollar.”

He explained, “Relying on the electronic platform had a positive side effect on the exchange rate against the dollar and created quasi-stability in the dinar’s exchange rate, and it may rise slightly by next June.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

https://dinarevaluation.blogspot.com/2024/02/one-of-reasons-why-revaluation.html

  Article:   "THE FINANCE COMMITTEE RESPONDS TO THE US SANCTIONS: LET US SELL OIL IN

CURRENCIES OTHER THAN THE DOLLAR"  Quote:  "Imposing sanctions on Iraqi banks would undermine and obstruct the steps taken by the Central Bank to adjust the stability of the dollar exchange rate and reduce the selling gap between the official and parallel rates."  ...the TRUTH finally comes out. This is what is causing the inability of the CBI to take the necessary steps to adjust the stability of the dollar exchange rate?  ...if they the CBI did this diversification it would adjust the parallel market rate very quickly and then…..

Hang on there is also some good news….

The Central Bank of Iraq decided just recently to restore the mechanism for financing Iraq’s foreign trade, starting next March. This is all part of slowly phasing out the electronic platform as they said they would do as 2024 rolls on. The Central Bank said in a letter addressed to the banks, which Al-Iqtisad News reviewed, that for the purpose of organizing financing operations for requests to enhance external balances, it was decided to implement the new requirements and mechanisms starting from March 1, 2024.

He added that banks wishing to enhance their balance with correspondent banks in all currencies should appoint an external auditor for the purposes of reviewing transfers in advance of the process of sending transfers. Banks wishing to enhance the balance must provide us with information about the names of the companies they wish to contract with within a maximum period of February 29, 2024. So, basically what the CBI wants is to know where the money is going and for the banks to certify it, by auditing.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

https://dinarevaluation.blogspot.com/2024/02/status-of-rv-by-mnt-goat-1-feb.html

The $3.22 Rate, Iraq's Dinar Reinstatement and Currency Exchange

"RV UPDATE" BY MARKZ, 5 FEB

 MarkZ  

 [via PDK]  ...coming out of Iraq:  “Contract signed for new residential city near Baghdad”   Will include more than 100,000 units. They are busy working on housing for their people. This is a large scale project worth big bucks…. How are they going to pay for it???

 There is no negative news and groups still have high expectations.   A lot of NDA’s but no word on timing as  of yet.

..rumors...from every corner of the “blogisphere” …they are saying the CBI has released rates to the government of Iraq and Iraq has released those to all the central banks in the world including the US…and that everything is locked and loaded. That is the chatter.

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