LATEST FROM CLARE, 26 AUGUST

 Clare  

Article:  "Iraq and America to resume negotiations on the banking sector next Monday"  Quote:  "An informed source told Al-Eqtisad News that a delegation from the Central Bank of Iraq will begin negotiations with the American side on August 26 in America."

Clare  

Article:  ”Is Iraq heading towards printing new paper currency?"  Quote "The Parliamentary Finance Committee confirmed, on Thursday, that there is no intention to print new paper currency."

Clare 

  Article Quote "The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh...pointed out that Iraqi oil sales are in dollars, and are deposited with the US Federal Reserve through an open account in the name of the Central Bank, which is managed by the bank on behalf of the Iraqi government."

Article "Is it time to remove the zeros?" Quote:  "with the use of electronic payment operations, the environment will be mature and acceptable for the idea of ​​implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it. But is it time to issue the decision?"

--

Clare 

  Article: "Government advisor explains the possibility of using the dinar instead of the dollar in oil sales"  Quote: "Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices? These are paths that have no answers on the ground and are really very ambiguous"

Clare 

 Article: "Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation"  

Quote: "The Private Sector Development Department discussed with the Departments of Foreign Economic Relations and Administrative and Financial Affairs at the Ministry of Trade, the mechanism for Iraq's accession to the Federal Union of World

Trade Points, the legal procedures for joining, and the benefits that the Iraqi sectors will obtain."

  Clare  

Article: "Is “floating the currency” a solution to the crisis of the high dollar in Iraq? A representative explains"

  Quote: "There are calls to float the exchange rate in Iraq...Floating the currency is a procedure based on liberalizing the exchange rate, leaving it to market factors (supply and demand), to determine its value without any form of intervention by the economic authority...There are two types of floating: the first is absolute floating, and the second type is managed floating, i.e. the type in which the central bank intervenes to direct the exchange rate up or down, as it sees fit to achieve the interests of the national economy."

Clare  

 Article: "US Treasury places Khamis Al-Khanjar on sanctions list"  

Quote:  "The US Treasury Department, through the Office of Foreign Assets Control (OFAC), has placed the head of the Sovereignty Party, Khamis Al-Khanjar, on the sanctions list of known individuals and entities with whom dealings are prohibited."

 Article:  "Central Bank Governor Participates in a Workshop Specialized in Electronic Payment"   Quote: "His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, participated in a specialized workshop on accelerating the transition to electronic payment, sponsored by the Prime Minister, and organized by the Osool Foundation for Economic Development and Sustainable Development."

RECENT REPORTS OF CLARE: 

"RV UPDATE" BY CLARE, 9 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-clare-9-august.html 

LATEST FROM CLARE, 6 AUGUST

https://dinarevaluation.blogspot.com/2024/08/latest-from-clare-6-august.html 

RV UPDATE BY CLARE, 4 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-clare-4-august.html

UAE exports to Iraq surge over 40% amid record trade growth, 26 AUGUST

 Shafaq News/ On Sunday, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, announced that the country's foreign trade reached 1.4 trillion dirhams in the first half of 2024, marking a significant increase from pre-pandemic levels.

In a statement posted on X, Sheikh Mohammed revealed that the “UAE’s exports over the past six months equaled the annual total of 2019,” noting, “While global foreign trade grew by approximately 1.5%, the UAE’s trade increased by 11.2% year-on-year.”

“Non-oil exports saw a substantial rise of 25%, with the UAE aiming for 3 trillion dirhams in non-oil foreign trade by year-end.”

Moreover, Sheikh Mohammed highlighted a notable increase in trade with various countries, “10% with India, 15% with Turkiye, and 41% with Iraq, now the top destination for UAE exports, followed by India and Turkiye.”

The Vice President reiterated the UAE's long-term economic goals, stating that “the country aimed to reach 4 trillion dirhams in annual foreign trade by 2031.”

1 USD is equal to 3.67295 AED

🔥 Iraqi Dinar 🔥 Finally RV News 🔥 Today IQD Value to Dollar RV News Guru...

LATEST FROM RAYREN98, 26 AUGUST

 RayRen98  

 [via Twitter/X]  

Community Comment: Just informed that lower denoms are being released to the streets right now. ...It’s on the way.

 RayRen98 

  THE WORLD COURT RECEIVES DISPUTES (AND SEEKS RESOLUTION) BETWEEN NATIONS. THE DETAILS ARE INSIGNIFICANT, THE RV IS SLATED TO MOVE FORWARD NOW.

 I'M BEING TOLD THE WORLD COURT "CLEARED" A FORMAL COMPLAINT TODAY AND TOMORROW IS A DEFINITE POSSIBILITY.

RayRen98

   [via Babysmom] 

  I'M HEARING THAT A TECHNICAL ISSUE PREVENTED LIVE RATES ON YESTERDAY. THAT ISSUE
IS EXPECTED TO BE RESOLVED TODAY...IF WHAT THEY ARE TELLING ME IS TRUE...SOME OF YOU ARE GONNA GO TO SLEEP WEALTHY $$$$$$...

RayRen98

  ...SOURCES ARE SAYING THAT THE RV WAS SUPPOSED TO HIT THE BANKS ON SATURDAY...THE CURRENT STATUS IS "HIGH ALERT" AND SOME HAVE REPORTED TO WORK EARLY THIS EVENING. TIME WILL TELL

RayRen98 

  3 LETTERS ARE "TALKIN" BUT I AIN'T "LISNIN" UNTIL I SEE SOME RESULTS! LOL THEY ARE LOOKING AT TONIGHT.

 RayRen98  

 [via Babysmom]   "SOME BANKS ARE SEEING A HIGH SELL RATE ON THE DINAR BUT SAY THEY CAN'T SELL IT YET...WAITING ON APPROVAL/CLEARANCE"

RayRen98 

  WAS JUST INFORMED BY A 3 LETTER... IF NOTHING CHANGES, BANKS WILL SEE LIVE RATES IN THE MORNING. TIME WILL TELL.

RayRen98

  IT IS BEING REPORTED THAT AN "ATTEMPT TO RELEASE" WAS UNSUCCESSFUL EARLIER TODAY ... STANDBY...WHEN WE HEAR MORE, SO SHALL YOU.

---

NOTICE: ALL SYSTEMS ARE "GO" FOR TODAY...LET'S SEE WHAT HAPP...FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/rv-update-by-rayren98-3-august.html

 

Al-Sudani announces the success of the Arbaeen visit plan and reveals 37 service projects for the upcoming visit, 26 AUGUST

 Al-Sudani announces the success of the Arbaeen visit plan and reveals 37 service projects for the upcoming visit

8/25/2024

Prime Minister Mohammed Shia Al-Sudani announced the success of the security and service plans for the Arbaeen pilgrimage, during a press conference he held in Karbala Governorate, today, Sunday.

Al-Sudani appreciated the efforts of the Supreme Security Committee headed by the Minister of Interior, and all officers and members in ensuring the smooth flow of the visit, which extended over vast areas and thousands of kilometers of roads leading to the holy Karbala, as well as the efforts of the local service and administrative institutions in the governorates, and the formations of the various ministries, as more than 53 ministries and agencies participated, in addition to local governments, governors and governorate councils.

Al-Sudani expressed his thanks to the Governor of Karbala and the members of the provincial council for their continuous efforts that complemented the efforts of the ministries and provinces, extending his thanks to the visitors, the Husseini processions and the social activities for their cooperation and partnership with the security and service agencies. He also thanked the Husseini, Abbasi, Kadhimiya and military shrines for their important role, praising the role of the national media in this visit, which represents an opportunity to re-sharpen the spirit of all service teams and review the work and improve the provision of service to the citizen in the upcoming visits.

In order to establish an integrated infrastructure that facilitates the visit, the Prime Minister announced during the conference 37 diverse service projects that will be initiated by the Supreme Committee for Millions of Visits, and more than (3.5) trillion dinars have been allocated for them, distributed among the budgets of ministries and governorates, and include the construction and rehabilitation of ring roads, intersections, bridges, pedestrian bridges and squares, the construction of water complexes and cities for visitors, and service complexes, and they will be initiated in a few weeks.

He pointed out that since the end of the Arbaeen pilgrimage last year, work has begun on rehabilitating the border crossings in Zurbatiyah, Al-Mundhiriyah and Al-Shaib, establishing large exchange yards to facilitate the transportation of visitors, and projects related to rehabilitating the roads linking Karbala to other governorates. The government has also made progress in the Karbala-Najaf Metro project, while the Karbala International Airport project has reached advanced stages and will be opened next year.

He stressed that the government took the initiative to establish the Supreme Committee for Million-Pilgrim Visits, to be the permanent organizer and supervisor of this great effort, indicating that this occasion is no longer merely ideological, but rather a national epic that witnessed the presence of our people from all religions and sects in more than 50 processions providing services to the visitors.  LINK

🚨The Comptroller of The Currency🚨 Oct 21, 2024 - New Regulations

LATEST FROM FRANK26, 26 AUGUST

  Frank26 

 Article:  "Iraq and America to resume negotiations on the banking sector next Monday" 

 ALAQ'S VISIT IS ON IRAQI BANKS... IRAQI BANKS ONLY CARE ABOUT A NEW EXCHANGE RATE.

Frank26 

  I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate.  The only mechanism that everyone is waiting for is the new exchange rate.  

That is the simple fact.  This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and  talking to you [Iraqi citizens] about you're going to get purchasing power.

We found out the 3 zero notes are going to coexist with the lower notes for 10 years.

  Do you understand the power behind that?  

That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER)

 Frank26 

 The goal is what?  Retrieve those [Three zero notes].  

How? 

As soon as we raise the value, give them purchasing power, as soon as we drop the 3 zeros, they're going to bring in all that 80 something percent [still in Iraqi mattresses]...The monetary reform plan is brilliant...It is moving at a very fast pace.

DINAR REVALUATION 

ANALYSIS OF WHAT EDDIE TOLD TO FRANK26: 

"Then Saleh talking about oil being sold in dinars instead of dollars." 

 Economist back on tv saying it’s time to drop the zeros."

---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!

1. Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.

2. Dropping Zeros from the Dinar: The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.

Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.

SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!

https://dinarevaluation.blogspot.com/2024/08/dinar-revaluation-update-seems-that-we.html