DINAR REVALUATION

Thursday, May 16, 2024

(5/14) Critical Update!

Oil Rises Due To Forest Fires In Canada, 16 MAY

Oil Rises Due To Forest Fires In Canada

Time: 05/15/2024 07:31:01 Read: 1,391 times {Economic: Al-Furat News} Oil prices rose in early trading on Wednesday, with major forest fires threatening the oil sands region in Canada and the market expecting a decline in US crude oil and gasoline stocks later today.

Brent crude futures rose 34 cents, or 0.4%, to $82.71 per barrel. US West Texas Intermediate crude futures rose 38 cents, or 0.5%, to $78.39 a barrel by 00:16 GMT.

A huge wildfire was approaching Fort McMurray, the center of Canada's oil sands industry, with production of about 3.3 million barrels per day, or two-thirds of the country's total production, and thousands in the suburbs were asked to evacuate. LINK

https://alforatnews.iq/news/%D8%A7%D9%84%D9% 86%D9%81%D8%B7-%D9%8A%D8%B1%D8%AA%D9%81%D8%B9-%D8%A8%D9%81%D8%B9%D9%84-%D8%AD%D8%B1%D8%A7%D8%A6%D9%82-%D8%A7%D9%84%D8%BA%D8%A7%D8%A8%D8%A7%D8%AA-%D9%81%D9%8A-%D9%83%D9%86%D8%AF%D8%A7

"RV UPDATE" BY FRANK26, 16 MAY

Frank26

Article: "Sudanese directs to hold an extraordinary session next Sunday to discuss the 2024 budget schedules"

AN EXTRAORDINARY SESSION... FOR AN EXTRAORDINARY ANNOUNCEMENT!

Article: "Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and what are its risks?" Floating the dinar, oh my goodness, they are talking to the Iraqi citizens about the monetary reform...Floating the dinar is what they're going to do...

Forgive me that I jumped the gun and told you, hey this represent the lower denoms [fils] in paper form [it was a 5000 note]...The colors were wrong...The color is what threw us off. I apologize...What we taught was 100% true [though]...The CBI is teaching the Iraqi citizens about lower notes...coins...They're also teaching about fils, the coins, in paper form.

Question: "Do you think the rate will be on Forex?" Yeah! The Forex will be one of the very first to receive it.

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.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-frank26-14-may_0418709882.html

Iraqi Dinar Guru News Highlights (5/15/24)

The National Bank Of Iraq Receives A Strong Credit Rating From Capital Intelligence, 15 MAY

The National Bank Of Iraq Receives A Strong Credit Rating From Capital Intelligence

Economy News – Baghdad The global credit rating agency, Capital Intelligence, has affirmed its credit rating for the National Bank of Iraq for long-term and short-term foreign currencies (FCRs), maintaining the bank’s basic financial strength rating at (bb) with a stable outlook.

The bank said in a statement received by Al-Iqtisad News, "This positive rating reflects the strength and solidity of the financial position of the National Bank of Iraq, and enhances the culture of trust among current and new customers and investors. The rating also contributes to supporting the bank's efforts to achieve its development goals in serving the Iraqi national economy."

According to the statement, the Capital Intelligence Agency based its granting of this rating to the National Bank of Iraq on several factors, the most important of which are: good banking management, a high ratio of capital to assets, including the core capital ratio (CET1), effective flexibility in capital management, and good liquidity supported. With a growing deposit customer base, especially from retail banking, along with good operating profitability driven by improved revenue quality and stability, in addition to high quality of loan assets.

Commenting on this achievement, the authorized director of the National Bank of Iraq, Ayman Abu Dhaim, confirmed that “the positive credit ratings obtained by the National Bank of Iraq reflect its efforts to enhance the soundness and strength of its financial position, including increasing its capital and improving its risk management, indicating that this The rating is a testimony to the bank’s commitment to the highest standards of banking, and contributes to enhancing the confidence of customers and investors.”

Abu Dhaim pointed out that "the National Bank of Iraq will continue its commitment to providing the best banking services to its customers, in an effort to contribute to supporting the Iraqi national economy and enhancing its position on the global economic map." Views 174 05/15/2024 - https://economy-news.net/content.php?id=43440

"RV UPDATE" BY SANDY INGRAM, 16 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

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-sandy-ingram-13-may.html

The World Bank is working with the Iraqi Finance Minister to implement banking reform as quickly as possible...things are happening fast.

Shocking documents from Iraq's Federal Board of Supreme Audit have uncovered a massive corruption scheme. Over 151,000 citizens were involved in the illicit buying of US currency...[They] obtained dollars at the official state rate for travel purposes but never left the country. The black market refers to them as "ghost travelers".

[We] are thinking the Iraqis sold the dollars for more money than they invested. As a result of the corruption Iraq's Central Bank employees, private banks, currency exchange companies and tourism firms were all involved. This is a $600 million corruption scam involving the US dollar...

When in Washington, DC he [Al-Sudani] met with the chair of the governing board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow. Prime Minister Al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday during his visit...In Davos, Iraqi Prim Minister al-Sudani with Mr. Khaled Haballah, the regional CEO of JPMorgan Chase for the Middle East and North Africa...

Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.

The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...

On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.

https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html