" RV UPDATE" BY FRANK26, 20 MARCH

 Frank26  

 I was excited when Sudani suggested 1.32 but now I am crazy excited to see Alaq the governor of the Central Bank of Iraq suggesting the same thing. 

 The Prime Minister is going to Washington DC ...He's going to talk to the U.S. Treasury about the new exchange rate...He's talking to it with everybody.

..JP Morgan representatives at a Chase Banks, why are they there?  And why do they have all of these cubicles that they're setting up? 

...They don't even say it's not a scam, they simply say when it happens we're ready for you.   The whole mantra/attitude is changing but it doesn't change all at once.  It's a slow process.  It travels from the east to the west...north to the south.  That information is slowly being given to everybody that is going to be involved in this exchange process.

Iraqi Dinar🔥CBI Governor Meeting With US Treasury To Increase The Value ...

“Urgent Need” for New Hotels in Baghdad – PM, 20 MARCH

“Urgent Need” for New Hotels in Baghdad – PM

Prime Minister Mohammed Shia Al-Sudani has conducted a field visit to the Rixos and Mövenpick hotel projects, both under construction in the heart of Baghdad.

He received a detailed presentation on the progress of the execution of both projects and inspected the stages of completion.

Al-Sudani emphasized the urgent need for large hotels in a city the size of Baghdad, given its tourist activity, official delegations, and hosting of numerous Arab, regional, and international conferences throughout the year.

He noted that hotel occupancy rates currently stand at 100%. Additionally, he highlighted Iraq’s upcoming hosting of important events and conferences, necessitating further efforts to complete these two hotels and other large hotels currently under construction in Baghdad.

These projects are among several hotel projects underway in Baghdad.

https://www.iraq-businessnews.com/2024/03/19/urgent-need-for-new-hotels-in-baghdad-pm/

"RV UPDATE" BY PIMPY, 20 MARCH

  Pimpy

  Vietnam became the 150th member of the World Trade Organization back in 2007...with the same icky exchange rate.  Not only that but...Vietnam is currently trading on the Forex...In addition to that Vietnam is on the Swift System...When you try to look up Iraq there is no Iraq because they're not on the Swift System.  So you have Vietnam with a way

worse exchange rate than Iraq part of the World Trade Organization...on Swift and they're trading on the Forex...If Vietnam is there with their current exchange rate then there's no doubt...Iraq...can be on these programs as well [at their current exchange rate].

 Everyone is excited that Iraq has completed all the requirements to join the World Trade Organization but the bigger question is what's next for Iraq?  

...There's this impression going on around the Iraqi dinar community that this is going to happen next week or next month.  Is this true or could the process take longer? 

 ...What's remaining for Iraq?  

 Approval by the general council...which is composed of all WTO members. ...As of now they don't appear to be on the calendar to be voted in...We got between now and June to see if indeed Iraq is added to the calendar...unless for some reason the WTO holds a special session...

🔥 Iraqi Dinar 🔥 Floating Rates $1.32🔥 Guru Updates News Currency Value E...

Iraq to stick to OPEC's voluntary oil production cuts, 20 MARCH

Iraq to stick to OPEC's voluntary oil production cuts

Shafaq News/ Iraq, OPEC's second-largest producer, will continue to adhere to the voluntary output cuts agreed upon by OPEC+ members, the Ministry of Oil announced, reiterating its commitment to the organization's efforts "to maintain stability and balance in the global oil market."

In a statement, the ministry said that despite reports of increased production from the Kurdistan region of Iraq, "which is not coordinated with the federal government," the country will continue to limit its exports to 3.3 million barrels per day (bpd) for the coming months.

"This is in order to absorb the increase in production that occurred in January and February," it said. "The ministry is coordinating with secondary sources to ensure that this information is reflected in their reports on OPEC+ production levels for the coming period." 

Iraq announced in February that it would assess its production levels and take measures to address any surplus output exceeding its agreed cuts under the OPEC+ agreement.

The OPEC+ voluntary cuts, currently extended until June, are part of a series of measures implemented by the group since late 2022. These measures aim to bolster the market as concerns over weak economic growth are anticipated to constrain oil demand, especially with increased supply from producers outside the OPEC+ alliance.

https://shafaq.com/en/Economy/Iraq-to-stick-to-OPEC-s-voluntary-oil-production-cuts

" RV UPDATE" BY MARKZ, 20 MARCH

 MarkZ   

[via PDK]   I have a number of banking contacts that have launched into overdrive for this week …Lots of people expected announcements overnight last night...the electronic platforms being wildly successful is key to them implementing their change in value. And the Real Effective Exchange Rate (REER) is expected this week according to Iraqi contacts.  Most of my Iraqi contacts expect it by April 1st.  Praying they are right. 

...There is a tremendous amount of chatter from my contacts with expectations for the next day or 2...we will see but I think that may be a little premature...I do feel really good about where we are.

  I think things are in a mad dash to the finish line… We have an impending visit from Sudani here in the Us ...  We have Sudani on Friday mentioning the rate of $1.32…which is very specific... 

Comment:  The $1.32 rate is actually .76 cents US for each dinar….  Al Sudani promised the Iraqi people the dinar would be stronger than the dollar. . 76 cents is NOT stronger.   

MarkZ:  They may be floating the rates of $1.32 and .76 cents to get people ready for a change. I still think it will be more in the $3 or $4 range…but I could be wrong. IMO $1.32 and .76 cents rates would still be fantastic..