"IRAQ WILL ADD VALUE TO THE IQD" BY FRANK26, 16 MARCH

 Frank26

  I made a mistake...$0.76 was correct.  I apologized...It's 1.32 to $1 which comes out to the $0.76.

Article: "Among them concerns the dinar... the outcomes of Parliament’s finance meeting with the Central Bank"  

ALL THEY TALK ABOUT IS THE 1.32 & THE INTRODUCTION OF THE LOWER NOTES!!!  FINALLY... 

THE SOUND HEARD AROUND THE WORLD!  This is actually happening.  This is a reality.  The monetary reform to add value to the currency and then to float internationally is a reality...because it's in print.

 There was an announcement made by the Prime Minister Sudani...He told the Iraqi citizens, I'm going to add value to your currency.  He used a solemn oath that swears upon Allah their God.  

You don't go around breaking that promise.  It was exciting to realize the Prime Minister told the people, I assure you, I give you a solemn holy oath were going to add value to the currency...Sudani told the citizens we're going to raise it to $1.32...He explained if we lift the 3-zeros from the exchange rate we'll be able to give you $1.32 in country.  That's good purchasing power.

🔥 Iraqi Dinar 🔥 That's a 90% Increase 🔥 News Currency Value Exchange Rat...

Prime Minister: Iraq is about to host important events and conferences, 16 MARCH

   Prime Minister: Iraq is about to host important events and conferences

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday, that Iraq is about to host important events and conferences.

The Prime Minister’s Media Office stated, in a statement received by (Al Oula News), that “Prime Minister Muhammad Shiaa Al-Sudani conducted a field visit to the Rixos and Movenpick hotel projects, which are being implemented in the center of the capital, Baghdad, and listened to a detailed presentation on the executive work of both projects. And look at the stages of completion.”

The Prime Minister stressed that “a city the size of the capital, Baghdad, is in dire need of large hotels, due to the tourist movement and official delegations it witnesses, and the fact that it hosts many Arab, regional and international conferences throughout the year, with the hotel occupancy rate currently reaching 100%.”

He stated that “Iraq is about to host important events and conferences, which requires making more efforts to complete these two hotels and the rest of the large hotels, which are currently being implemented in Baghdad.”

The statement pointed out that “these two projects are among several hotel projects being implemented in Baghdad, and the government has paved the way for them and pushed them forward through economic reforms and creating an attractive environment for foreign investments, which will help in completing them in the required time.”  link

"IQD RATE DISCUSSION" BY PIMPY, 16 MARCH

 Pimpy 

  It [the article] doesn't say the exchange rate is $1.32, more likely what it is Al-Sudani will change the exchange rate where you can buy 132 dinar for $1.  That's a 90% increase

.  I don't know about you but I'd be pretty happy with that.  I'd be content with that.  I know a lot of you are expecting million,  that doesn't mean it can't happen but if we're allowed to keep this currency that we have right now with all the zero and they change the exchange rate I'm going to count my blessing and sell them because I'm not going to take the risk of hoping for a higher exchange rate and then turn around and delete the zeros.  $37,000 is not too bad for less than a $2,000 investment.  

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Sudanese Advisor: The government has adopted a flexible plan to recover funds and bad debts, 16 MARCH

 Sudanese Advisor: The government has adopted a flexible plan to recover funds and bad debts

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained the details of a flexible government plan to recover funds and collect bad and accumulated debts.

Saleh said, “The government has granted the government banking system in general, and the Iraqi Trade Bank in particular, sufficient flexibility in re-collecting its uncollected debts granted to various natural and legal persons, which have accumulated over many years, in accordance with a fair and highly flexible collection program at the same time, which... It makes the assets of government banks and the Trade Bank of Iraq at a high quality level on an ongoing basis, and at the same time enhances the sustainability of government banking, financing official foreign trade, and strengthening financing guarantees linked to strategic development opportunities in the country.”

He added, "The government has adopted a flexible plan to recover funds, especially those that are in default due to accumulated historical reasons. It is a plan that will adopt flexible and solid solutions that are in the interest of the strength and stability of the government banking system and strengthening its assets and financial leverage."

He continued, "The financial and monetary authorities will exert, through their policies, supportive measures for the government banking system, which is no less important than the reform policy adopted by the aforementioned banks themselves and in accordance with their current development program in building an integrated, highly efficient banking market that serves the sustainable development and stability of the national economy."   link

"THE IQD RATE DISCUSSION" BY HARLEQUINC3, 16 MARCH

 Harlequinc3

  It helps me to think of it this way. 1.32 IQD to 1 USD means it takes 1 whole dinar and .32 of ANOTHER dinar just to get $1. It's not QUITE at a dollar. That's $.76.  So if it was .50 IQD to 1 USD, that means it only takes HALF of one whole dinar to equal a dollar -- so that's a $2 rate.  If it was .33 IQD to 1 USD, that means it only takes 1/3 of a whole dinar to equal a dollar -- wow, that's a $3 rate! 

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Over the years, there's been many articles about the old currency retaining its 'nominal  value' -- the denomination remains the same, a 25,000 dinar note remains 25,000 one dinars. And the new 25 denomination remains 25  one dinars.

 1 dinar = 1 dinar.  Denomination value just means 'name' not exchange rate. The confusion arises from people thinking  'value' means exchange rate, when it's just talking about the nominal value -- the 'named' value of the dinar, which in this  example is a '25,000 dinar' note -- that's its name, not its exchange rate.

 To an Iraqi, an exchange rate of pounds sterling to dinar is meaningless. 1 dinar is just 1  dinar. But what does that 1 dinar buy? That's what matters to an Iraqi...IMO, the latest article is explaining, the named value of  both notes don't change (it doesn't affect the 'nominal value.')

 It answers the question about a lop of the old dinar, explaining  you will exchange 25,000 old dinar for 25,000 new dinar (electronically) at a 1:1 value -- the named value remains the same. Of  course, for people outside Iraq they will be exchanging 25,000 dinar for their home country's national currency of 25,000 dinar at  an approved exchange rate.  

https://dinarevaluation.blogspot.com/2024/02/1-iqd-1-iqd-by-harlequinc3-1-march.html