Pimpy
We're staying grounded...about the possibility of getting a huge payday. Remember it's only a possibility, just like there's a possibility they could re-denominate before they change the exchange rate...
Re-denomination has nothing to do with the exchange rate. We want the exchange rate to change, not the Iraqi currency to delete the zeros. We don't want that to happen...Stop rooting for the deletion of the zeros. You don't want that to happen.
KTFA
FRANK26: "KTFA FAMILY... FOR YOUR EDUCATION".F26
The interbank market is a global network used by financial institutions to trade currencies and other currency derivatives directly between themselves. Some interbank trading is done by banks on behalf of large customers, but most interbank trading is proprietary. It takes place on behalf of the banks' own accounts.
Banks around the world use the interbank market to manage their own exchange rate and interest rate risk as well as to take speculative positions based on research. The interbank market is a subset of the interdealer market, an over-the-counter (OTC) venue where financial institutions can trade a variety of asset classes among one another and on behalf of their clients. This is often facilitated by interdealer brokers (IDBs).
The interbank market for foreign exchange (forex) serves commercial turnover of currency investments as well as a large amount of speculative, short-term currency trading. The typical maturity term for transactions in the interbank market is overnight or six months.
The forex interdealer market is characterized by large transaction sizes and tight bid-ask spreads. Currency transactions in the interbank market can be either speculative (initiated with the sole intention of profiting from a currency move) or for the purposes of hedging currency exposure. It may also be proprietary but it's customer-driven to a lesser extent by an institution's corporate clients. These might include exporters and importers.
Head of the Media Commission discusses with the World Bank the information technology strategy in Iraq
The head of the Media and Communications Commission, Ali Al-Muayyad, discussed, today, Friday, the information technology strategy in Iraq with the Central Bank.
A statement by the authority stated, “The Chairman of the Media and Communications Authority, Ali Al-Muayyad, discussed with a high-ranking delegation of World Bank experts the communications and information technology strategy in Iraq and the support that the bank can provide in this field, as well as the efforts that Iraq is making to accelerate the pace of digital transformation and spread digitization in the joints.” Various government initiatives, which came on the sidelines of the 2024 World Bank Digital Summit in Washington.
He pointed out that "the World Bank Digital Summit 2024, held in Washington, hosts senior officials and ministers in governments and the private sector, with the aim of exploring opportunities, accelerating the pace of digital transformation, and reviewing the reality of development in countries of the world, as well as revealing the latest technologies and scientific visions in the field of innovation, communication, and digital transformation." link
Frank26
IMO They've already deleted the three zeros from the exchange rate. IMO that exchange rate came from the RV phase of the monetary reform that was accepted in Washington DC and all these other banks. That's why Sudani has thousands and thousands of contracts all waiting for the new exchange rate.
A lot of you are asking me, 'Do you think they'll do this new exchange rate during Ramadan?'
I would prefer before or after Ramadan, not during. Ramadan is a holy time. You don't go around celebrating that you go purchasing power. No. You go around worshiping and honoring God.
Article: "Dinar and dollar"
MarkZ
Bank Story via Simply Linn:
In a nutshell - a guy goes to a chase bank and they know nothing…. He goes to another and sits down with a personal banker who asked him what assets he had… and the guy says he has foreign currency…dinar and dong…they bring in a wealth manager…
Whose eyes light up and the wealth manager shared some serious details about exchanging and the QFS...
they suggested to him to exchange out of his area for anonymity and security and to avoid local tellers talking about his exchange.
I thought this was brilliant and I plan on doing that as well. Not exchanging in my town.
Anonymity is a good thing to have. He also mentioned our funds go into special accounts...When the man asked if it was the QFS - the lady smiled and nodded and said it was account that no one else can see it…even tellers will not be able to see it.
Very safe. ...they also said they do now know “when” but know it’s coming soon and they have been preparing for it and equipped to exchange it right in front of your eyes…and there will be armed guards while you do the exchange. This was a fantastic bank story.
Iraq’s Al-Sudani sets June 10 for Mosul Airport opening, marking “defiance against terrorism” Shafaq News/ On Sunday, Iraqi Prime Minister...