They haven't started oil pumping and you have to ask yourself, why? Because they need revaluation for that and I think that's what we're waiting for. Is that some sort of delay? I don't think so. I think the inner connectivity of the most complex revaluation situation in the history of mankind...is complex.
--
Militia Man
I think when they say, "
Whose operations are constantly expanding in favor of dealing at the fixed official exchange rate", is an argument suggesting that instead of being a floating currency...they're leaning towards a fixed official exchange rate for some time...
Iraq has been and is seeking to join the World Trade Organization...Iraq is promoting self-sufficiency. Why? Because they have all kinds of assets. They have inputs and outputs. They have so many natural resources that they're going to be able to make things, to be able to have excess...There's a working party on accession of Iraq [into the WTO] on the 18th of July. That's important.
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein confirmed that the US Treasury Department positively evaluated the efforts of the Central Bank.
Hussein said in a press conference held in the US capital Washington that "our visit to Washington was to attend the NATO summit at the invitation of the US side, and on the sidelines of the summit we held intensive meetings with leaders of several countries, and we held a meeting with the US Treasury Department to discuss issues related to monetary policy and banking signs."
He added that "the US Treasury Department positively evaluated the efforts of the Central Bank," indicating that "a military delegation will visit Washington to hold talks on the security agreement concluded between Iraq and the United States." https://www.radionawa.com/all-detail.aspx?jimare=38852
Frank26 How many times have I said to you the moment you see the HCL within nanoseconds you'll see the new exchange rate?It's just like saying ladies and gentlemen you're about to see the new lower notes. Well then you're also going to see the new exchange rate. They both go hand in hand.
The FITR...it's a transaction activity platform that's interesting because they are exchanging and trading funds that come under the category of cross currency swapping and they are including now the Iraqi dinar.Why would you Mr. Country whoever-you-are, why would you want to be involved with the Iraqi dinar? Why would you want to do any type of transaction activity with the FITR when you're dealing with a currency that has no value?Obviously there is a value. Obviously they know more than we know. This currency swapping is a very very significant thing.
It [the new dinar exchange rate] will be well known. It will not be hidden at all. The moment it is released, boom! Where will you know it instantly that it's released? Forex? No. You will know first on www.CBI.org then they will sent it to the brokers to Forex.
Dr. Haitham Hamid Mutlaq Al Mansour With the fluctuation in the value of the dinar against the dollar since last week, it was noted that there are some predictions and signals from here and there that hint directly or indirectly that the dollar contract will disintegrate to a state in which it will move far away from the target level.
In fact, some have predicted that the dollar will escape from the control of the Central Bank. Here we had a pause with these predictions and signals.
It is self-evident in the logic of supply and demand that we sense a rise in the exchange rate of the dollar against the dinar for reasons related to the tightening measures of the official supply, as the Central Bank targets the stability of the actual exchange rate and is trying to achieve a reduction in the gap between the nominal and real prices.
Therefore, it is not surprising that the dollar exchange rate has risen these days and for a week in particular. In this case, we say that the rise and fluctuation in the levels of the actual exchange rate cannot be judged based on it and concluded from it that the actual exchange rate may be exposed to a breakdown in the short term, because the fluctuation towards an increase during the week is not considered a fluctuation in the life of short-term changes, and also that the buffers of monetary policy are present and strong to maintain the stability of the exchange rate, because it uses monetary, financial and operational tools that aim to reduce the price level and keep inflation within an acceptable level.
And maintaining the level of foreign reserves within the desired growth rate and supporting the level of the dinar exchange rate against the dollar according to the fixed exchange rate system, which amounts to about 120 billion dollars, works to cover the source of currency.
The official exchange rate of the Central Bank is still maintaining its level and short-term rates, a path with an acceptable general trend within the controlled levels based on the effects of And external, organizational or random variables. It is also not possible to conclude that the dollar exchange rate will slip out of control in the short term, since the short-term price level did not rise beyond the 1515 range to the 1600 threshold or more, but rather returned to 1500 on Saturday evening.
In addition, the overall inflation index is controlled by the fiscal and monetary policy measures, as is known, through controlling the growth rate of foreign reserves and stabilizing the general price level resulting from reducing the internal supply of cash dollars in transactions, payments, contracts and commercial obligations since last year, criminalizing and regulating them.
The parallel exchange market has become of low impact outside the official exchange market, with a gap ranging around 10-18 for the total dollar demand and supply.
Therefore, it can be concluded that the clear stability witnessed by the dinar in its real levels is due to the stability of the exchange rate at this gap, in addition to the measures and policies of the Central Bank supporting the reduction of the gap between the two exchange rates for about a year, including the legal and monetary ones. Since the recent fluctuation was limited to the aforementioned 10-18 range, which means that the effectiveness of targeting is still within the acceptable level, since the parallel price system is considered subordinate to the targeted price system, since the first Based on the second in the mathematical and economic effects.
Therefore, it is too early to predict the dollar exchange rate will deteriorate in the presence of these political and procedural variables. 2024/07/14 https://economy-news.net/content.php?id=45216
This is big... Article Quote: "According to the latest data that is available, transactions through the central bank electronic platform have considerably increased with daily transactions reaching $200 million which is consistent with the size of Iraq's economy. This marks a substantial rise from...2023 when transactions were around $50 million per day."
That's a huge increase of $150 million. This is right on par with Iraq's economy but the fact that the transactions have increased is a big plus for people investing in Iraq dinar...
Article quote: "The transparency provides a realtime reporting on the FITR platform can also enhance market confidence in the Iraqi dinar.
Investors and traders are more likely to trust a currency whose transactions are openly documented and monitored by regulatory authorities. T
his increase in confidence can contribute to a greater stability in the foreign exchange market for Iraq dinar...Higher levels of activity transactions being reported on the FITR platform can indicate a vibrant and active economy. A robust economy often translates to a stronger currency value as investors are more willing to hold the asset denominated in that currency." This is good news but again you guys stay grounded. Sandy by. Every day there's more and more good news coming out of Iraq...This is great news.