DINAR REVALUATION

Sunday, October 6, 2024

MARKZ & WOLVERINE: CONTRACTS ARE GETTING TO GET PAID & BOND SIDE IS UNDE...

Financial expert explains the reason for the rise in the dollar price in the parallel market : 132 IQD= $100 USD , 6 OCT

On Sunday, a member of the Central Bank’s Board of Directors, Ahmed Brihi, explained the real reason for the rise in the dollar exchange rate in the parallel market. He said that the Central Bank still uses the rate of 132 dinars for every 100 US dollars and that the Iraqi dinar is stable.

Brihi stated, “The Central Bank’s measures have nothing to do with the rise in the dollar exchange rate in the local market because the bank still adopts the exchange rate of 132 dinars for the 100 US dollars denomination.”

“The reason behind the rise in the exchange rate in the parallel market is due to the rise in demand for the dollar, especially by small traders who do not deal with the Central Bank, such as those who deal with essential goods imported at their own expense from abroad, because they believe that security events will worsen and that the need for demand for goods will increase so that they can achieve higher profits,” he added.

“The reason behind the rise in the exchange rate in the parallel market is due to the rise in demand for the dollar.” It is interesting to note that buying prices increased in exchange shops in Baghdad’s local markets, with the selling price reaching 154,750 Iraqi dinars for one dollar and the buying price reaching 152,750 dinars for one dollar.

RV UPDATE BY MILITIAMAN, 6 OCT

Militia Man

Everybody should be going, 'come on Iraq! Come on World Bank! Come on Bank of International Settlements, IMF, US Treasury, US Federal Reserve!'

All those players have been involved and they still are...They are not going to have a 1310 exchange rate.

They're going to move to a Real Effective Exchange Rate based on fundamentals based off their non-oil products, non-oil revenues that will exceed in may cases oil output.

FIREFLY: DELETING ZEROS FROM THE DINAR WAS EXPLAINED ON TV @DINARREVALUA...

Kuwait revokes citizenship of 2 linked to Iraq’s "Theft of the Century", 6 OCT

Shafaq News/ Kuwait has decided to revoke the citizenship of two individuals linked to the high-profile "Theft of the Century" case in Iraq, which involved the embezzlement of tax deposits.

Iraq had previously announced that the two individuals held dual nationality.

According to Kuwait's Al-Rai newspaper, five decrees and two decisions were published in the official gazette, "Kuwait Today", on Sunday, stripping 63 people—55 women and 8 men—of their citizenship for various reasons. Two individuals were mentioned in connection with the "Theft of the Century" case in August.

"The first decree revoked the citizenship of 31 women based on Article 13, Paragraph 4, of the 1959 Kuwaiti Nationality Law, which allows for the withdrawal of citizenship if deemed necessary for the state's supreme interests or external security. The decree also permits revoking citizenship from dependents who obtained it through the person being stripped of nationality. The second decree similarly withdrew citizenship from 22 women under the same legal grounds."

"The third decree revoked citizenship from two men and their dependents under Article 13, Paragraph 1, of the nationality law, which allows for citizenship revocation if it was obtained through fraud or false statements. A fourth decree revoked the citizenship of one woman under similar grounds."

"The fifth decree removed the citizenship of one man and his dependents, citing reasons aligned with those in the first and second decrees (Article 13, Paragraph 4)," according to the newspaper.

Additionally, the Kuwaiti Cabinet issued two decisions. The first revoked the foundational citizenship of five men and their dependents under Article 21 bis (A) of the Nationality Law, which allows for revocation if citizenship was granted based on fraud, false statements, or invalid certificates. The second decision revoked the citizenship of one woman and her dependents for similar reasons.

The "Theft of the Century" refers to the disappearance of 3.7 trillion Iraqi dinars (approximately $2.5 billion) from tax deposits. The scandal was uncovered shortly before the end of former Prime Minister Mustafa Al-Kadhimi’s government. Iraq’s Integrity Commission and judiciary have since launched investigations, issuing arrest warrants. One of the first to be arrested was businessman Noor Zuhair, who was released on bail but later fled the country. The investigation is ongoing, with authorities working to recover the stolen funds and uncover the full extent of the case.

This remains an open file within the Iraqi judiciary, with efforts to recover the embezzled money still ongoing.

" THEY TALKING ABOUT DELETING THE ZERO AGAIN ON TV" BY FIREFLY, 6 OCT

[Iraq boots-on-the-ground report]

FIREFLY: We seeing in TV a special report show saying what if 1000 dinars became 1 dinar. They talking about deleting the zeros again. They've been showing this all day. They just repeat it over and over again. And they're saying it's all tied to the reforms.

They talk about all the good and some of the bad...We never seen them talk like this before.

FRANK: These are the commercials we talked to you about that were going to be educating you on the purchasing power...

They are telling you they lifted 3 zeros from the exchange rate in order for that 1,000 note to become a 1 note...They are not lifting the 3 zeros from your physical cash.