DINAR REVALUATION

Thursday, March 21, 2024

The myth about executive order 13303 03/20/24 BY PIMPY

A Specialist Points Out The Reasons For The Noticeable Decline Of The Dollar In Iraq: It Will Reach The Official Price, 21 MARCH

A Specialist Points Out The Reasons For The Noticeable Decline Of The Dollar In Iraq: It Will Reach The Official Price

Economy |Today, Baghdad today - Baghdad Today, Wednesday (March 20, 2024), the expert in financial and economic affairs, Ahmed Al-Tamimi, explained the reasons for the decline in the dollar exchange rate in the parallel market.

The past few days have witnessed a noticeable decline in the exchange rate of the dollar against the Iraqi dinar in the parallel market, reaching at times 149 thousand dinars for every 100 dollars.

Al-Tamimi told “Baghdad Today” that “the continuous decline in the dollar exchange rate in the parallel market confirms the government’s success in the dollar issue, controlling the crisis and preventing its aggravation,” expecting “this decline to continue gradually over the coming days, until it reaches the official price.”

He explains that “the measures and decisions by the government and the Central Bank have contributed greatly to limiting the rise of the dollar and controlling the market, especially with regard to cleaning up foreign remittances, as well as finding ways to finance foreign imports in currencies other than the US dollar, and other measures that the government has proven successful in this file.” .

On (March 14, 2024), the Governor of the Central Bank, Ali Al-Alaq, announced an understanding with the US Treasury to reconsider the sanctions imposed on Iraqi banks .

Al-Alaq said in a press statement, after being hosted by the Parliamentary Finance Committee, and followed by “Baghdad Today”, that “the process of printing the local currency takes place according to the required financial cover . ”

He pointed out that "the instability of the exchange rate is due to the presence of illegal trade carried out by small traders and some speculators . "

During the past months, the United States has prevented dozens of Iraqi banks from conducting transactions in dollars as part of a comprehensive campaign against transferring the American currency to Iran and other countries subject to sanctions in the Middle East .

The US Treasury - in cooperation with the Central Bank of Iraq - imposed stricter controls on financial transfers in the country in general .

As a result, the value of the Iraqi dinar declined against the dollar and the prices of imported goods rose. However, the Iraqi government took a number of measures to limit this rise and control the parallel market by striking currency smugglers at times, prosecuting speculators, and searching for an alternative to the dollar in commercial transactions at other times, which contributed significantly to the recovery. The Iraqi dinar again against the US dollar. LINK

"RV UPDATE" BY SANDY INGRAM, 21 MARCH

Sandy Ingram

There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.

However, there is a catch. If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.

This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"... What happens if you don't report more than 10 thousand dollars in cash? Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.

Iraqi Dinar - IQD update - Accountability - Al-Sudani's Achievements 202...BY MILITIAMAN

Parliament Finance: The Central Bank will move to support banks through this mechanism, 21 MARCH

Parliament Finance: The Central Bank will move to support banks through this mechanism

3/20/2024 Baghdad

Today, Wednesday, the Parliamentary Finance Committee revealed the Central Bank’s intention to support banks through loans, while indicating that the Ministry of Labor has opened the platform for applying for small project loans.

The representative of the committee, Mustafa Al-Karawi, said in an interview followed by Al-Iqtisad News: “The committee, during its hosting of the governor of the Central Bank, called for support for banks, especially in the issue of loans,” noting that “the governor of the central bank promised the committee to launch loans, especially the Real Estate Bank, to support the construction movement.”

He added, "Loans for small projects will be through the Ministry of Labor, which in turn has opened a platform to provide unregistered people who have not benefited from previous loans in order to support projects, with the value of the loan reaching 50 million dinars." LINK

"QFS CONVERSATIONS" BY GOLDILOCKS, 21 MARCH

GOLDILOCKS

For over 15 years, Bitcoin has been a highly speculative digital asset. A speculative asset moves primarily with the emotions of the people who decide to buy assets such as these inside a non traditional banking system.

Bitcoin and other cryptocurrencies are currently being regulated, and they are being incorporated into the new digital market system.

This is a movement from speculation to utility case scenarios. Utility case assets such as electricity, gas, and other use case scenarios supports an economies' infrastructure.

This gives validity and purpose to virtual currencies creating solid opportunities inside a supply and demand market. For these reasons, cryptocurrencies are essentially an idea whose time has come.

https://stealthex.io/blog/future-of-crypto-in-the-next-5-years/

https://www.investopedia.com/tech/why-bitcoin-price-predictions-are-unreliable/

https://www.investopedia.com/terms/m/market-price.asp#:~:text=purchased%20or%20sold.-,The%20market%20price%20of%20an%20asset%20or%20service%20is%20determined,demanded%20is%20the%20market