"RV UPDATE" BY KAPERONI, 4 MAY

  Kaperoni  

 Article:  "The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an important condition” As I have mentioned numerous times, a float is coming for the Iraqi dinar. The question is.. when will they have sufficient diversification of the economy to support such an event?

 A country's currency is not some random act. An exchange rate is based on many factors including: reserves, GDP, economic growth etc. Iraq has a long ways to go and must pass laws to encourage investment. Only with the success of Iraq's economy can the dinar rise in value.

[aka Kaperoni]  

Article:  "Advisor to the Association of Banks: The Central Bank is following a consistent approach to achieving banking reform" 

 Quote:  "the management of the Central Bank of Iraq plans to gradually cancel the window for selling foreign currency during the year 2024, until it leaves it completely."  ...this is huge news... Iraq cannot end the auctions unless they have an alternative to the auctions... which means they plan to float the dinar by the end of the year...floating the dinar will give them a new mechanism to maintain the dinar, the CBI will buy and sell blocks of dinar like other central banks do to maintain their currency... 

 They will also have to use dinar to pay for goods and services which will make the dinar internationally traded...they want the banks and Iraq to establish relationships around the world with International standards and full compliance which means that means IMF Article XIV...This seems pretty clear and excellent news. We very well see that Iraqi dinar float on the global market at the end of this year or early next year...I think it's very promising...it definitely is very good news. 

https://dinarevaluation.blogspot.com/2024/04/analysis-of-iraq-news-by-kaperoni-11.html

Iraqi Dinar Expectations Implementation New Exchange Rates 🔥Iraqi Dinar

APIKUR welcomes formation of Baghdad-Erbil committees, 4 MAY

APIKUR welcomes formation of Baghdad-Erbil committees

ERBIL (Kurdistan24) – The Association of the Petroleum Industry of Kurdistan (APIKUR) on Friday in a statement welcomed the formation of the Baghdad-Erbil committees.

“Recently announced by the Iraqi Minister of Oil with the stated goal to restore oil exports through the IraqTürkiye pipeline. We are awaiting official notification of international oil companies’ role in these critical negotiations,” the statement read.

Hayyan Abdul Ghani, Iraq’s Oil Minister, told Kurdistan24 earlier that the production and export of oil from Kurdistan Region fields would be resumed.

Meanwhile, Kurdistan24 was informed by the Director General of SOMO that their recent meetings with the Kurdistan Regional Government and the Ministry of Natural Resources in Erbil were positive on the issue of Kurdistan Region oil export to Turkish Ceyhan Port. The Turkish side is making preparationsfor export.

https://t.co/G3ZzPSWoaY

"RV UPDATE" BY PIMPY, 3 MAY

 Pimpy

  Question:  "Will the Vietnam Dong ever RV?" 

 They have been clearing up a lot of their corruption over there and they are on a huge sweep.  It's IMO that they reason why it is where it is as far as value is concerned is because of these corrupt politicians.  If you get rid of them, there's a good chance whoever is in office will allow the Vietnam dong to go up in value.

Question:  "What do you think would be the ideal exchange rate for the dinar? " 

 You need something that's right in the middle...1 to 1 exchange rate would be right in that sweet spot.  Enough to where they get more purchasing power on their imports but also still be competitive on the market with their exports.  I would say 1 to 1 exchange rate would be the perfect location.

 Some of the bigger points we see inside the Iraqi dinar community such as, 'Let them reinstate the exchange rate to $3.22 the old rate.'  That's not the old rate. That's been a myth for a long time...The $3.22 rate was there but that was not the one they left when it became a devalued currency. It was something like $1.52.  The other one [myth] is the hydrocarbon law that once it passes then the Iraq citizens are going to get payments. They're not going to get payments.  Read the law, nowhere does it say they're going to get payments.

Iraqi Dinar Guru News Highlights (5/3/24)

In the week of financial inclusion. Al-Rafidain encourages the use of electronic payment in citizens’ transactions, 3 MAY

 In the week of financial inclusion. Al-Rafidain encourages the use of electronic payment in citizens’ transactions, 3 MAY

Al-Rafidain Bank participated in the activities of the financial inclusion week in the presence of financial and banking institutions.

During the participation of its own booth in commercial centers, gatherings and other places, the bank reviewed its services and products such as opening bank accounts, adopting electronic payment and collection, encouraging the use of electronic cards to reduce cash dealing and introducing the importance of citizens saving their money in the bank instead of hoarding it at home.
In addition to the presence of the specialized team to answer inquiries for citizens with other services.
Participation comes with the aim of educating the public about the importance of financial inclusion and the spread of banking culture to the farthest point in the country to include all segments of society.

https://alforatnews.iq/news/في-اسبوع-الشمول-المالي-الرافدين-يشجع-على-استخدام-الدفع-الالكتروني-في-تعاملات-المواطنين-
 

"BRICS ANNOUNCEMENT" BY GOLDILOCKS, 3 MAY

GOLDILOCKS

BRICS Announcement

“According to Anatoly Aksakov, Chairman of the Russian State Duma Financial Market Committee, talks on how the new currency will work have started and an agreement may be reached by the end of this year.”

The plan is for this currency to be supported by gold, various precious metals, and other assets.

The purpose is for the BRICS Nations to be able to trade with one another and no longer have to deal with US sanctions on their currencies.

VOI

© Goldilocks