The Stability Of The Dollar Exchange Rates In Baghdad With The Closure Of The Stock Market
Economy Monday, February 19, 2024 Baghdad/National News Center The prices of the US dollar stabilized against the Iraqi dinar in Baghdad, today, Monday, in Baghdad, with the stock market closed.
The National News Center correspondent said, “Dollar prices stabilized with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 152,200 Iraqi dinars for 100 dollars, which are the same prices recorded in the morning.”
He added, “Selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 152,500 dinars for 100 dollars, while the purchase price reached 151,500 dinars for 100 dollars.” https://nnciraq.com/251136/
There is an organized effort in Iraq to never revalue or increase the value of the currency abasing the US dollar or to provide profits for people in the west...Between the different factions within Iraq, revaluing their currency, even when they can afford it, may not be on their agenda...
Iraq is getting closer to a currency reset...Iraq's rail plans have investors worldwide watching carefully...The rail connection in Iraq from the Gulf to Europe will change Iraq's economy. This same method of increasing the GDP was recently used by Mexico when they built a connecting rail system...Mexico's exchange rate increased against the US dollar and now Americans are spending more money to live in Mexico...This is one of the major paths that can lead to a higher GDP and a higher value in the currency. The project is set to start in early 2025.
The International Monetary Fund has consistently recommended Iraq develop additional streams of income outside of the oil industry. Iraq holds a significant amount of the world's history within its borders...What is needed is security and safety for travelers. Once safety issues are address and the Euphrates and Tigris Rivers are flowing again there will be substantial annual revenue to help boost Iraq's GDP.
" Iraq's central bank revokes Iran's Bank Melli operating license" This article tells us the US is serious about not allowing Iran to have access to US dollars. It also tells us Iraq is serious about aligning with the US Treasury Department to maintain access to over one hundred billion US dollar of its money in the Federal Reserve.
Vietnam is making major financial news. Vietnam factory activity returns to growth status after the pandemic, tourist arrivals increased by 73.6% in January and retail sales are still growing for the 26th straight month. The inflation rate is at a five month low of 3.7%. Overall Vietnam has green lights on all growth patterns...Vietnam knows precisely what to do to bring the value of its currency back into the line of profit...
Finance Minister Taif Sami Mohammed received today, Monday, Winston Cole, Director of the Financial Management Project at the World Bank and members of the accompanying delegation. “During the meeting, the aspects of relations between Iraq and the World Bank were reviewed, especially in light of the existing cooperation program to complete the implementation of economic reforms adopted by the Iraqi government,” the ministry’s media office said in a statement reported to Mawazine News.
He added that Taif expressed “appreciation for the fruitful partnership between the two sides, stressing the Iraqi government’s keenness to continue it, and the positive climate it provides to all investors and global financial markets on the Iraqi economy, stressing at the same time the determination of the Iraqi government to continue to promote structural reforms related to financial and monetary policies and maximize the role of the private sector in development.”
Cole pointed out that “the World Bank looks forward to continuing distinguished relations of cooperation with Iraq and its support for economic reforms in it, praising the performance of the Iraqi economy and the flexibility and resilience it has shown in the face of negative repercussions caused by global economic fluctuations, stressing the bank’s continuation in strengthening joint work with the Iraqi government to improve the overall indicators of the economy, deepen the participation of the private sector and complete the ongoing development work.”
The CBI was given new DeLaRue machines to use by the United States Treasury.Why? Because the old DeLaRue machines cannot read the new security features on the new lower notes.
The Government of Iraq is soon to receive the funding for everything that is waiting for a new international exchange rate, for everything the world is waiting for, for what you're waiting for, for what the Iraqi citizens are desperately in need of.
"IRAQI BANK FRIEND UPDATE" BY WALKINGSTICK, 7 FEB
Walkingstick
[Iraqi Bank Friend Aki update]
Aki [and his boss Number One] went to the meeting on Thursday with everybody else that represents banks in Iraq. The one question we had for them, 'Gentlemen, we've been seeing some articles that are suggesting maybe we're looking at about two more months away...' [they answered] 'NO! Who told you that!'
All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. All the things that Aki [Iraqi bank friend] had to do in order to qualify to exchange the 3-zero notes into American dollars is done. International platforms that were needed in order to do electronic transfers is done...
[Iraqi Bank Friend Aki update]
This is the monetary reform roadmap for the next couple of weeks...January 29th a banking campaign was started to release deeper education about the monetary reform to the Iraqi citizens
...Either Thursday or Friday the Minister of Planning, Minister of Finance, the Governor of the Central Bank of Iraq and the Prime Minister Sudani are all going to be receiving the flow down of information regarding the new currency that is to be released and the new exchange rate for that new currency...Also...the Erbil Stock Exchange (ESX) and The Iraqi Stock Exchange (ISX) have completed their linkup...of international platforms. They are done and going live at any moment.
All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. All the things that Aki [Iraqi bank friend] had to do in order to qualify to exchange the 3-zero notes into American dollars is done. International platforms that were needed in order to do electronic transfers is done...
[Iraqi Bank Friend Aki update]
This is the monetary reform roadmap for the next couple of weeks...January 29th a banking campaign was started to release deeper education about the monetary reform to the Iraqi citizens
...Either Thursday or Friday the Minister of Planning, Minister of Finance, the Governor of the Central Bank of Iraq and the Prime Minister Sudani are all going to be receiving the flow down of information regarding the new currency that is to be released and the new exchange rate for that new currency...Also...the Erbil Stock Exchange (ESX) and The Iraqi Stock Exchange (ISX) have completed their linkup...of international platforms. They are done and going live at any moment.
Finance Minister Taif Sami said on Monday that the government is determined to structural reforms related to fiscal and monetary policies and maximizing the role of the private sector in development, during a meeting with the Director of the World Bank’s Financial Management Project Winston Cole and members of his accompanying delegation.
The ministry said in a statement, the network received 964 copies of which:
The six Finance Minister, Taif Sami Mohammed, received on Monday, Winston Cole, Director of the World Bank’s Financial Management Project and members of his accompanying delegation.
During the meeting, they reviewed aspects of relations between Iraq and the World Bank, especially in light of the existing cooperation program to complete the implementation of economic reforms adopted by the Iraqi government.
In this regard, the Minister of Finance expressed appreciation for the fruitful partnership between the two sides, stressing the keenness of the Iraqi government to continue it, and the positive climate it provides to all investors and global financial markets on the Iraqi economy, stressing at the same time the determination of the Iraqi government to continue to strengthen structural reforms related to financial and monetary policies and maximize the role of the private sector in development.
For his part, Kole stressed the aspiration of the World Bank to continue distinguished relations of cooperation with Iraq and its support for economic reforms, praising the performance of the Iraqi economy and the flexibility and steadfastness it has shown in the face of negative repercussions caused by global economic fluctuations, stressing the bank’s continuation in strengthening joint work with the Iraqi government to improve the overall indicators of the economy, deepen the participation of the private sector and complete the ongoing development work.
