"RV UPDATE" BY FRANK26, 13 MAY

  Frank26   

 This [these new 1000 dinar fil notes] guarantees there is a change in the Iraq dinar exchange rate because if not there's no reason for these fils whether they be in coin form or paper form. It's illogical.  There's not reason for it...These fils paper or coins and the exchange rate are not activated yet.  They are all in the background waiting for when Sudani says it's time.

 This [new green 1000 fil note] is not a "lower note"...it falls under the category of fils.   What does that mean? ...It takes 1,000 fils to make 1 dinar.  What does that mean?  It means the monetary reform is successful.  It's brilliant! ...it is cheaper to print paper than it is to mint coins...They are not minting coins right now...these are called fils but they're in paper form...

Question "I'm new here...when this blessing comes would you suggest to take all of it at once or just a little bit?" 

 That's your prerogative.  I cannot guide you.  Yeah, it's a speculative investment but logic says check it out, see what the rate is, if you like it exchange what you got.  If you think it's going to go up in value internationally on a float, exchange a little and hold on to some.  You have to make that decision.  I cannot tell you on a speculative investment.

"IRAQ'S GOVERNOR ALIA ALAQ TALKING ABOUT THE IRAQ BANKING SECTOR AND REV...

Saleh clarifies the relationship of the gold rally with the decline of the dollar, warns of a ‘two-edged weapon’, 13 MAY

Saleh clarifies the relationship of the gold rally with the decline of the dollar, warns of a ‘two-edged weapon’

The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, explained why gold prices rose in local markets with the noticeable decline in the exchange rate of the dollar against the dinar.

“It is observed at the level of the local market in our country that the dollar in the secondary market is in a gradual decline against the official exchange rate, and yet we find that there is a gradual rise in gold prices in the local market,” Saleh told {Euphrat News}.
“Today, he imports gold and finances its imports at the fixed official exchange rate of the dinar against the dollar through the Central Bank platform at a price of 1320 dinars per dollar.”
Saleh explained, “Due to geopolitical tensions around the world, especially the war in Ukraine and others, it has made significant developments in gold hedging policy by some central banks in the world, which constituted an unprecedented rise in global demand for gold and led to a rise in its prices in global markets, and here it is noted that the external factor is the basis for the rise in the price of an ounce of gold in the local market.”
He continued, “International financial institutions have launched expectations of the continuation of the rise in gold prices in the coming months, and the forecast comes despite the current strength in the dollar levels, which is trading at its highest levels in 5 and a half months according to the dollar index, along with the high US government bond yields at a 5-month high in light of expectations that the US Federal Reserve is on its way to keep interest rates high for a longer period of time, which is supposed to represent a negative pressure on gold prices.”
“But the strength of global demand for gold as a safe haven under the current geopolitical uncertainty, coupled with expectations that global central banks will continue to increase their gold reserves, has prompted international financial institutions to expect more gains in gold prices during the remainder of 2024,” Saleh said.
He pointed out that “for example, the German Deutsche Bank Foundation raised its forecast for gold prices in 2024 to the level of $2,400 per ounce, and expected the price of gold to rise to $2,600 per ounce at the end of 2025. Citibank also expected that the price of gold will reach 3,000 dollars per one in the next 6 to 18 months, with gold to break through the level of $2,500 per ounce during the second half of 2024.”
He continued, “There is news circulated by global markets about an international group launching gold-denominated digital currencies with its central banks to conduct trade exchanges outside the existing currencies in the global monetary system, including China, Russia and some countries in Africa, Asia and Latin America, a trend that requires high gold hedging, which also formed an unprecedented wave of demand for the yellow metal globally.”
He said, “But from our view, adopting a global gold reserve system at the global market prices for the yellow metal will make the demand for gold grow and rise with the growth of trade and the global economy. If countries continue to hedge their reserve currencies in gold at open gold prices and restricted by production and the global limited supply of gold in the face of open demand, they will generate a cash system at a high exchange rate, perhaps it will hinder their trade competitiveness as gold-heddd countries and the exchange rates of their currencies are determined by the yellow metal.”
He pointed out that “unless those groups adopt a moderate and competitive fixed official price for the gold itself, their competitive capabilities in their international trade with the countries of the world will inevitably be threatened, and here gold will be a double-edged sword at the same time. Beware of the trade gold policies in establishing a monetary system alone, and finally until the date of May 11, 2024, the ounce of gold, which is weighs 31 grams, increased to about $2361 per ounce in global markets.”

Raghad Dahham

https://alforatnews.iq/news/صالح-يوضح-علاقة-ارتفاع-الذهب-بتراجع-الدولار-ويحذر-من-سلاح-ذو-حدين
 

"RV UPDATE" BY SANDY INGRAM, 13 MAY

  Sandy Ingram 

The IQD was not convertible to other currencies on global markets before the 2003 invasion...Rates, which were $3.21 IQD to 1 US dollar in July 2003 means little if the currency is not exchangeable on global markets...People with education in economics say the Iraqi currency will be readily available for exchange in US banks...The question then becomes - 

 How long will it take US banks to recognize the currency after the initial increase in Iraq?   Oh, you believe it will all happen on the same day? 

 We would hope so, however this is unlikely... Savvy investors may have to travel for the exchange rate...If Iraq says the IQD is worth 1 USD to Iraqi dinar will you wait for the United States to say the same thing or will you travel to a bank that says the Iraqi dinar value equals $1? ...We hope the naysayer are right and we can all walk into our banks in the United States and exchange our IQD bank notes for US dollars

Iraqi Dinar | Again Back in New Rate $3.32 USD Finally | Iraqi Dinar New...

Iraq’s oil reserves rise to 160 billion and 22 global companies compete to develop gas fields, 13 MAY

Iraq’s oil reserves rise to 160 billion and 22 global companies compete to develop gas fields

Mawazine News Baghdad

The Ministry of Oil announced today, Sunday, that Iraq’s oil reserves rose to more than 160 billion barrels, while noting that 22 international companies competed for gas field development projects, stressing that Iraq achieved self-sufficiency from liquid gas and began exporting the surplus.

“The fifth and sixth supplementary licensing round comes in line with the government program, which aims to optimize the investment of oil and gas wealth,” the ministry’s spokesman, Asim Jihad, told the official agency.
He added, “The ministry aims to maximize national production, especially from the hydrocarbon and gas compositions found in the ground,” noting that “there are 22 global companies competing for projects to develop these fields.”
“Most of the competitive exploration patches are gas exploration patches, so this will support Iraq’s energy sector,” he noted.

Jihad stressed that “the Ministry of Oil has achieved important steps in optimal gas investment projects in Maysan Governorate by 300 maqqat and in Dhi Qar Governorate / Nasiriyah and Al-Gharaf by 200 million standard cubic feet per day.”
He continued, “The contracts concluded by the ministry regarding the Nahran Omar field will provide 300 million standard cubic feet in two stages, while the contract with Total will provide 600 million standard cubic feet per day.”

He pointed out that “the fifth licensing round will achieve more than 800 mqm or one million standard cubic feet of gas, in addition to the effort of the Basra Gas Company, where the gas investment reached 1200 million standard cubic feet per day.”
“It is hoped that 200 million standard cubic feet will be added this year, and therefore in total Iraq aims to achieve self-sufficiency to support the energy sector and reach the stage of self-sufficiency,” he went on.
He stressed that “Iraq has achieved self-sufficiency in liquid gas, and the surplus of it was exported out of the country,” noting that “this step is important in strengthening the Iraqi national economy.”
According to him, “the government effort has focused during the last period on intensifying exploratory operations, and thus this will maximize the Iraqi oil reserves,” but saying: “It is hoped to announce during the coming period that the Iraqi oil reserves will rise to more than 160 billion barrels, which will enhance Iraq’s role in the global oil market.”

Regarding the activities of the fifth supplementary licensing round and the sixth for the second day, Jihad explained that “the activities of the second day included competition for 11 fields and an exploratory patch, and these patches and fields began in the Abu Khanta field in Muthanna Governorate, which was referred to the Chinese company Zinoa.”

Jihad added: “Now the competition is taking place for the Anz booat in Anbar Governorate, and the competition will be taking place today for patch No. 7 in Diwaniyah Governorate, the Al-Dhafriyah field in Wasit Governorate, Raqa Somer Governorate in Muthanna Governorate, Tel Hajar in Nineveh Governorate, Al-Khanahah in Salah Al-Din Governorate and from him in Anbar, Raqa No. 11 in Najaf Al-Ashraf, Al-Anbar Arqat in Anbar Governorate and Saleh Qaleh Qal’at field in Maysan.”
He expressed the hope that “these projects will be referred to the competing international companies, and in order to achieve a great transition in this context,” tomorrow “the competition will be for another set of fields and exploration patches.”

On Saturday, Prime Minister Mohammed Shiaa Al-Sudani sponsored the ceremony of announcing the licenses of the fifth supplementary round and the entire sixth round, which includes a total of 29 projects for oil and gas exploration fields and patches, distributed among 12 governorates.

 https://www.mawazin.net/Details.aspx?jimare=247810

"RV UPDATE" BY WALKINGSTICK, 13 MAY

 Walkingstick

  There is an explanation being given to all the people involved in the economic reform by Sudani and Alaq.  In this explanation phase the information on the new lower notes and the information on the new exchange rate will be disclosed...

There will now be a slew of press conferences with all of the GOI, Kurdistan Barzani people, the CBI, the [CBI] board of directors, everyone of them standing, planning and supporting the reforms of Sudani...

The value of their currency is determined by the resources tapped and untapped.  The futures of Iraq are astronomical.  You have no idea, investor of the Iraqi dinar, what you have invested in.

 Phosphates...sulfur...diamonds...gold...silver...oil, gas, all the mining companies are lining up and it's all these industries, they are the factors that will drive the dinar up internationally.

  You cannot have any restriction on your currency if you belong to the SAP.  You cannot be on a program rate.   A program rate is a restricted currency is it not?  Sure it is...This is a very advanced system...The SAP has the same qualifications as the WTO.

  In fact SAP is part of the WTO...The restriction on currencies that the WTO says you cannot have is the same restrictions that SAP says...They run the same program systems. 

The main reason why they're going to float the Iraqi dinar is to build confidence in the country of Iraq.  A float brings in these investor that Sudani has been signing left and right.  These investors will watch the float and as the float increases they will say to themselves, 'Hey, maybe I should invest in this currency.' ...The float is to build confidence in the country and in the currency of Iraq.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-walkingstick-8-may.html