DINAR REVALUATION

Friday, October 25, 2024

Coffee with MarkZ. 10/25/2024

Why Is The Dollar Exchange Rate Continuing To Rise? An Economist Explains, 25 oct

Why Is The Dollar Exchange Rate Continuing To Rise? An Economist Explains

Time: 2024/10/24 Read: 2,392 times {Economic: Al Furat News} An economic expert explained the reasons for the continued rise in the dollar exchange rate against the dinar.

Abdul Rahman Al-Mashhadani told Al-Furat News Agency that "the rise in the dollar exchange rate is due to the general instability of the situation, and in such cases citizens try to switch to a future currency in anticipation of any decline, migration, or other."

He added, "There are obligations for Iraqi traders with suppliers from various countries, which pushes them to pay to avoid the losses that accompany the rise of the dollar."

Al-Mashhadani continued, "So far, there is no mechanism to solve the problem of trade with the sanctioned countries and Iran in particular, especially since the volume of trade with Iran is large and all of it is financed from the markets."

He explained, "There are no problems regarding money transfers in the Central Bank, as it sells more than 260 million dollars daily." LINK

TIDBITS FROM SKYWALKER, 25 OCT

SkyWalker

An objective of the [delete the zeros] project is simply collecting three zero notes and replacing them with lower denomination notes.

It serves two purposes

(1). removes the three zero printed on the notes which increases the nominal value on the note itself

(2). through supply and demand the value of the currency can be manipulated by the CBI.

Therefore, nominal value is first increased in country and (REER) will allow the dinar to have value outside the country.

🚨 Breaking News: U.S. Greenlights Iraq's International Status! 💵

Parliamentary Legal: Parliament will extend its legislative term to complete important laws, 25 OCT

Parliamentary Legal: Parliament will extend its legislative term to complete important laws

The Parliamentary Legal Committee confirmed that the work on the general amnesty law is proceeding to formulate it in its final form, noting that Parliament will extend its legislative term to complete important laws.

Committee member Raed Al-Maliki said, "Next week, the committee will focus on legislating the Personal Status Law, and work is ongoing in the committee on the general amnesty law to formulate it in a final form, and we are working to have it passed during the current legislative session."

He added, "The House of Representatives will extend its legislative session for a month, and thus the legislative holiday will be only one month to complete some important laws. A letter was sent to the House Presidency to include some laws on the agenda during the coming weeks."

Al-Maliki said, "Among the laws that we demand to be included on the agenda are the laws (the right to obtain information, and the regulation of the right to demonstrate and peaceful assembly), as well as reading the proposals of some laws for a first and second reading, such as (the proposed law of human rights activists, and the law of the House of Representatives, its formations and amendments) link

ANALYZING THE ARTICLE REMOVING ZEROS & REVALUING THE IQD BY CLARE, 25 OCT

Clare

Article: "Removing zeros and revaluing the Iraqi dinar"

Quote: "...The term redenomination, or as it is called (removing zeros from the currency).

Countries usually resort to it to address rampant inflation and the decline in the value of the local currency, as the old currency is replaced with a new currency at a fixed price by removing at least 3 zeros from the old currency.

Currency revaluation becomes necessary when it comes to hyperinflation because it takes a very large number of old banknotes to facilitate trade...

An example of this is what happened in 2006 when Zimbabwe renamed its currency at a rate of (1000 old Zimbabwe dollars) for a new Zimbabwe dollar...

Renaming the currency is a complex decision that requires a comprehensive study...