DINAR REVALUATION

Thursday, February 15, 2024

Iraqi Dinar update for 02/15/24 - UNAMI under investigation BY PIMPY

Remittances of currency abroad rise to $185 million in CBI’s auction, 16 FEB

Remittances of currency abroad rise to $185 million in CBI’s auction

At the Central Bank of Iraq’s (CBI) auction on Thursday, foreign currency remittances increased by 88% as compared to cash sales, totaling $185 million.

At an exchange rate of 1305 Iraqi dinar per US dollar, the CBI sold $208,407,735 on Thursday at its auction for the purchase and sale of US currency for foreign settlements for debit and credit cards as well as letters of credit.

For cash sales and international transfers, the CBI offered US dollars at an exchange rate of 1310 Iraqi dinars.

The majority of the CBI’s US dollar sales, which were directed toward improving accounts overseas through letters of credit and transfers, came to $185,517,735, an 88 percent increase above cash sales of $22.89 million.

Six banks purchased US dollars with cash, while sixteen institutions complied with requests to increase foreign holdings.

The CBI’s auction featured 69 brokerage firms and currency exchange outlets.

"RV UPDATE" BY PIMPY, 15 FEB

Pimpy

Question "Just be blunt...Make it simple. If someone holds a million dinars what is the most one can get from this amount over the next several years?" I've been blunt about this...It depends on how long you hold it.

Let's say it starts to go up in increments like I think it's going to happen, you have to look at your 1 million dinar and think to yourself, 'Am I going to be happy with the current exchange rate.'

It really depends on when it gets to a rate that you like. As long as they can stay out of conflict, continue moving forward like they have with reform, getting back in the World Trade Organization, showing back up on Forex, these things are very important on give value to the Iraqi dinar.

Iraq Iran amazing article BY NADER FROM MID EAST

The Baghdad dollar ends its week near 152.5.. The money changers felt “the tension has ended” with the Americans, 16 FEB

The Baghdad dollar ends its week near 152.5.. The money changers felt “the tension has ended” with the Americans

The US dollar’s exchange rates ended the week steady on Thursday night, hovering around 152.5 thousand dinars for every $100 note. This level of stability has persisted for almost two weeks, in part because market observers were bullish about “the disappearance of the specter of security tension” between Washington and Iraq.

This evening, the direct selling prices per note at the major exchange businesses and their offices in the Baghdad districts varied from 152,400 to 153,500 dinars, while the purchasing prices ranged from 152,200 to 151,500 dinars.

The following currency rates were available at exchange company offices in Baghdad areas:

Al-Kifah – Al-Shorja
Sale: 152,400
Buy: 152.200
Harithiya
Sale: 152,500
Buy: 152.100
Al-Adl District – Al-Rabie Street
Sale: 152,750
Buy: 152.250
Karrada
Sale: 153,500
Buy: 151,500
Sidiyah
Sale: 153,500
Buy: 151,500
Sadr City – Orfali
Sale: 153,500
Buy: 151,500

"RV UPDATE" BY MILITIAMAN, 15 FEB

Militia Man

Iraq is a border country with Kuwait. Iraq is considerably larger than Kuwait...They have massive amount of oil...liquid natural gas...gold...some of the biggest mineral deposits in the world that Kuwait does not have. You have to ask, why did they bring this up? - Article quote: "The Kuwaiti dinar ranked on the throne of currencies in the world for the year 2024 while the US dollar came in last place on the list of 10 strongest global currencies ...the dinar of the Gulf State is divided into 1,000 smaller units known as fils."

Iraq does not have fils. They're going to be talking about fils because why? Because...Al-Sudani has stated the dinar is stronger than the dollar. They're going to need to be able to make change...When they bring this up with Iraq's situation I think they're doing it in a manner that suggests the region can support Iraq having a strong currency stronger than the dollar..