In order to develop Iraq’s oil and gas resources, the Iraqi Prime Minister has indicated that he is willing to collaborate with American businesses.
Mohammed Shia al-Sudani promised to rectify the situation in an interview with Al Monitor. He acknowledged that some US companies had stated that the terms of potential contracts were not favorable.
I was also told to watch for yet more articles in the news about the project to delete the zeros but to be aware that ONLY the ones coming from her committee on this subject matter can be trusted.
As you know my contact works on the committee from the Central Bank and it has been given the task of ensuring a smooth process.I was also told
that in late November or early December we will see the newer lower denominations and their pictures and features depicted on the CBI site.
The ending of the currency auctions at the end of 2024 will also be signal to us that everything is moving correctly and we should see the IQD returned or reinstated back to FOREX in early 2025.
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.
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.
JENTEL RV UPDATE RV NEWS- AA Uriel Payments are being received. They started yesterday in other countries. To meet today's requireme...