SUMMARY OF IRAQ NEWS ANALYSIS OF KAPERONI, 21 JUNE

 Kaperoni 

 Question: "What happens now that the auctions are soon to be over?

 What does this mean for the  Dinar holders out there Kap?"  It means monetary policy is changing after 20 years to reflect the economic changes in Iraq. We'll  have to wait and see what happens.    

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Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.

...New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!

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...The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.

  Community comment: "Today the cbi says there are no new printing of bills"  

That is correct.  The Central Bank does not randomly print currency unless it's to replace damaged or worn out notes. There is no need for a new currency unless it is warranted.  Moving to digital will eventually reduce physical notes.

 Question: ----"They have a very largebudget ,without an increase in rate how do they meet the projects that is lined up?"

  External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.

 CCommunity Comment: "Hopefully in the next 5 yrs we will see an appreciation of the currency  price, based on the last year of progress."  I agree!  Iraq has an excellent opportunity now to diversify their economy and develop  the banking system.  

 Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country.   That will not happen.

 All of these changes that they're talking about pertain to monetary policy. They have nothing to do with the exchange rate. Whether or not the exchange rate goes up or not is directly related to the economic success thereafter.

By the end of the year when the Central Bank of Iraq ends the currency auction, only transfers  amongst established Iraqi banks and regional or International banks will occur.  In other words, the float of the dinar and  transfer of funds will be institutional.

 What this means for us is the future of the dinar exchange rate is directly tied to the  capital flowing through the CBI, economic growth, and success of Iraq. As Iraq prospers, so will the dinar!  Though we may not see  the dinar exchange rate improve initially. This is a significant change in monetary policy for the Central Bank of Iraq. Some 20  years in the waiting.  

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-kaperoni-25-may.html

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-kaperoni-26-may.html

Iraqi Dinar | Guru Nader From The Middle East Big Prediction Today IQD R...

The Service Effort Team announces the achievement of advanced completion rates in the Diwaniyah areas, 21 JUNE

 The Service Effort Team announces the achievement of advanced completion rates in the Diwaniyah areas

Today, Wednesday, the Help Exertion Group declared accomplishing progressed consummation rates in various regions in Diwaniyah.

“The work of laying waterways and paving the muqarnas in the Al-Amin neighborhood in the governorate is continuing,” the head of the team in the governorate, Mohsen Hamza, stated, noting that “the sewage rehabilitation work in a number of streets in the Al-Amin neighborhood is also continuing.” He went on to say that “the Water Directorate’s work will continue in the Hawalli University area, the Cultural District, Al Hamad Abu Jayesh, and Al Khalifa areas, and good completion rates will also be achieved” and that “Advanced completion rates have been achieved in the neighborhood rehabilitation work.”

SUMMARY OF RV UPDATES & IRAQ NEWS ANALYSIS OF WALKINGSTICK, 21 JUNE

 Walkingstick 

 $4.9 billion for a pipeline in the budget...Didn't you say it was 6.5 billion dinars? 

 'Yeah.'  And you're saying it equals $4.9 billion? 'Yeah.'...

They told the world...6.5 billion IQDs is equivalent to $4.9 billion...6.5 divided by 4.9 it comes out to 1.32 or $0.76...You don't have to think anymore after this...That's billions to billions not trillions to millions.  That's a rate change...You're telling the world this.

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[Iraqi bank friend]

 Aki in Dearborn...he's got one [new ATM machine like the ones delivered in Iraq].

They put these ATM machines out in order to put out the lower notes...These ATM machines will teach the citizens about the lower denoms and it will teach the bank employees about this as well too...There's going to be a stampede of people that will be rushing into the Iraqi dinars...These ATM machines are now being impregnated...

When they load or if they have loaded them up [new ATMs], the note count has already been determined.  The note count for each individual machine has already been accounted for...

These machines will be the state of the art...State of the art has nothing to do with a program rate.  If it was they would have had the state-or-the-art with the program rate for the last 20 years...The CBI is desperately trying to put out the least amount of currency at the onset before they release the new exchange rate.  Because once they do this, if needed, they will be able to add to this note count as the value is needed.

These ATM machines have the capability to recognize the lower denoms that are soon to be passed out to the citizens in order to add value to their currency and to go hand in hand with a new exchange rate of the lower notes...These ATM machines have the software for the lower notes.  

But does it have the lower notes in these ATM machines? 

 It is unknown...Since April there have been thousands of these ATMs being put out...FOR READ MORE: https://dinarevaluation.blogspot.com/2024/06/rv-update-by-walkingstick-19-june.html

Iraqi dinar | CBI Reforms for New Exchange Rates | Iraqi Dinar News Toda...

Baghdad Council demands Sweeg monitoring, continuous commissions even if the card is not used, 21 JUNE

Baghdad Council demands Sweeg monitoring, continuous commissions even if the card is not used

An individual from the Baghdad Common Committee, Ahmed Mohsen, pushed today, Thursday, the requirement for the National Bank to circle back to crafted by the “Drink” organization for electronic installment cards, with expanding protests about the presence of huge commissions deducted by the organization, as well as the distinction in the dollar swapping scale while moving.

Mohsen stated in an interview with Al-Sumaria TV that in addition to the commission rate, which is regarded as extremely high and does not match the service it provides, one of Sweij’s most prominent issues is the subpar service.

They explained that the Central Bank has the legal authority to set the transfer commission rate, which means that there is an assumption of mutual benefit between the company and the agencies responsible for monitoring it, and the common citizen pays for it. As for the difference in dollar exchange and the transfer cost caused by commissions, they explained that this issue is resolved by the Central Bank.

He emphasized that Sweeg Company must be monitored by the Central Bank and that the percentage of transfer operations must be proportional to the amount being transferred because it is impossible to take a commission percentage from citizens at levels comparable to investment companies.

The company-related data revealed baffling figures for the commissions and fees it deducts. For instance, just for filling out a card, the company takes a minimum of 1,500 dinars, or 1.5%, or 15,000 dinars, out of every million. It additionally deducts 1,000 dinars just for inquisitive about the card balance at the ATM. Automatically, in addition to deducting a thousand dinars as a “card management” commission only in the event that the citizen does not use the card for thirty days.

SUMMARY OF RV UPDATES OF NADER FROM MID EAST, 21 JUNE

 Nader From The Mid East

  I know they working on the exchange rate from here to the 8th of July.  We will have some  good news I hope.  

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Article:   "Iraq Bulks Up Gold Reserves, Inch Up World  Rankings"  Quote:  "Their holdings have grown to 145.7 tons, a bump of over 3 tons compared to 142.6 tons the previous month.  This increase...is enough to nudge Iraq one spot higher in the WGC's global ranking, landing them 31st place out of 100 countries."

Last week...I said Iraq government start a new white paper, it's all about the currency.  From here to the 8th of July we should have an answer.  What they going to do - Are they going to change the exchange rate or not?  That's what I said exactly.  They're working on it.  I know they created a white paper on that.   The CBI... government of Iraq, the reserve and the IMF are all working on the same page on those white papers.   I don't know if it's going to change or not...

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The UN agreement, 2003 when they invaded the country, now they said the last day is next year 2025.  They been talking about the end of the war and this is one of them.  That is very good news. 

 We talk about sovereignty, that's one of them.  It's good for Iraq.  It's going to make Iraq stronger and happier...Sudani what he's talking about the coalition gonna leave in 2025...it's official.

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'Nader you said it was going to happen in June.'  No I didn't say in June happen. 

 I said June they're a possibility for them to work on the dinar because each time they worked on him it's between June and August...They created a new white paper.  They're going to start working on the exchange rate and I think from here to the 8th of July.  We'll see what's going to happen.

Iraq wanted to de-dollarize.  They start de-dollarizing in January but it didn't work for them too much. 

 The government didn't expect that to happen even by telling them that the dinar are stronger...use the dinar instead of the dollar for the benefits of the country.  They tried everything.  Now, they said that plan didn't work so they come out to the new white paper...They realized they cannot do nothing without changing the exchange rate.

They're going to have to go down in the exchange rate for the de-dollarization...They're going to have to change their exchange rate...Between now and 8th of July we should have an answer...

 what they going to do?  Are they going to change the exchange rate...keep it the same...go up...go down? 

 I think they're going to have to go down on the exchange rate a lot for them to take off the dollar from the street.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-nader-from-mid-east-1-june.html