HERNAN: THE IQD HAS BEEN RV'D IN THE COUNTRY AT $3.49 @DINARREVALUATION #iraqidinarinvestor

 

For two reasons.. A prominent Iraqi faction announces the cessation of operations against Israel “and adheres to the unity of the squares”, 23 DEC

For two reasons.. A prominent Iraqi faction announces the cessation of operations against Israel “and adheres to the unity of the squares”

Shafaq News / The “Sayyid Al-Shuhada Brigades”, one of the most prominent armed factions in Iraq, confirmed on Sunday that the Iraqi factions “wheve and will not” leave the principle of unity of the squares in the face of Israel, while attributing the suspension of their operations to two internal and external reasons.

The term “unity of squares” was first launched after the battle launched by Hamas in May 2021, in response to decisions taken by Israel in the Sheikh Jarrah neighborhood of Jerusalem.

Following the outbreak of the Hamas attack on Israel on October 7, 2023, the leaders of what is known as the “axis of resistance” returned to talk about the “unity of the squares” as a strategic target for the Hebrew state.

The spokesman for the “Sayyid Al-Shuhada” Brigades, Kazem Al-Fartoussi, told Shafaq News that “the principle of the unity of the squares is fixed among the Iraqi factions and this principle cannot be abandoned, but the circumstances are the ones that determine and draw the positions of the factions, and this principle is not linked to a temporary alliance between the factions of the axis of resistance, but it is an issue of principle and a doctrine, and whatever the losses, the Iraqi factions have not and will not leave the principle of unity of the arenas.”

Al-Fartousi pointed out that “the operations of the Iraqi factions against Israel were linked to the operations of Lebanese Hezbollah, and when the ceasefire was reached in Lebanon, the operations of the Iraqi factions stopped, as there are partners in Iraq who have an opinion and reservation from the operations of the factions and must be listened to, it is not clumsiness or recklessness, but you must study things well, especially since these partners are the environment of resistance, so they should be heard without ignoring or stubborn in the situation.”

Recent events in Syria, notably the fall of the Assad regime, have sparked a wave of speculation about the future of Iraq. In Baghdad, large-scale political changes were reported to be approaching. These expectations increased strongly after the revelation of the details of the US Secretary of State’s meeting with the Iraqi Prime Minister, where the latter demanded that decisive measures be taken to confront the influence of the factions close to Iran.

In this regard, the researcher in Iranian affairs, Mujtaba Haidari, confirmed in statements to Shafaq News Agency, that “the decision to dissolve the armed factions in Iraq is not easy to implement, explaining that the Iraqi resistance is a self-movement and not affiliated with Iran, although Tehran supports it.”

Haidari pointed out that previous Iraqi governments were resorting to Iran to calm tensions, especially with American forces, and that Tehran understands these requests and realizes the importance of Iraq’s stability for its national security. The researcher pointed out that the current situation in Iraq makes it unlikely to demand the dissolution of factions, especially with the existence of increasing security threats, stressing that the Iraqis themselves will support the resistance under these circumstances.

The former Deputy Prime Minister, Bahaa Al-Araji, who is close to the current Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed to Shafaq News Agency that “fear of security or political events and developments in Iraq during the next phase is far from reality, as he pointed to the Popular Mobilization, an official Iraqi institution, which has a law legislated, and talking about calls to dissolve the crowd is untrue news.”

As for the armed factions, Al-Araji said, “A decision about them from dismantling or otherwise taken exclusively by the Iraqi state, is an internal Iraqi issue.”

https://www.shafaq.com/ar/سیاسة/لسببين-فصيل-عراقي-بارز-يعلن-توقف-العمليات-ضد-سرا-يل-ويتمسك-بوحدة-الساحات

MAJEED UPDATE, 23 DEC

 Majeed

I really just have a feeling it might happen tonight.

Since three days ago, they said everybody will receive their salary digitally.

And now they are speaking about how many one of them has digital card.

Also yesterday they said they are almost done with fixing the payroll

I truly hope it is tonight.

JON DOWLING: We are 3-7 days away from glory! @DINARREVALUATION #iraqidinar #iraqidinarinvestor

 

Fluctuating Dinar: economic experts urge action as dollar soars in Iraq, 23 DEC

 Fluctuating Dinar: economic experts urge action as dollar soars in Iraq

Iraq’s dinar continues its erratic trajectory against the US dollar, with no resolution in sight despite years of governmental and central bank efforts, experts attributed the instability to weak policies and unchecked market manipulation.

Root Causes of Volatility

The dollar is surging against the dinar at Baghdad’s main currency exchanges, Al-Kifah and Al-Harithiya, surpassing 1,510 dinars per $1. On the streets, exchange shops are marking up selling prices to more than 1,520 dinars.

“The instability in dollar prices reflects the Iraqi Central Bank and government’s inadequate monetary policies, which fail to address the core of the issue,” said Mustafa Faraj, an economic expert. “Their hesitant measures have left them unable to control the dollar’s value.”

Faraj cited US sanctions on neighboring Syria and Iran as a major factor. “The lack of legitimate trade channels with these countries, combined with restrictions on dollar transfers to them, has led to dollar smuggling, driving up its price,” he told Shafaq News Agency.

“When the dollar rises, it pushes up the cost of basic goods, food, and even commercial activity. This cascade of price hikes stems from a failure to find comprehensive solutions and punish manipulators,” Faraj explained.

Emerging Pressures

New dynamics have exacerbated the crisis. Ahmed Eid, an economic researcher, linked heightened demand for dollars to the fallout from the conflict in Syria. “The shift in Syria has disrupted the interests of militia leaders and influential figures, many of whom are now stockpiling dollars to secure alternative income streams,” he said.

Eid pointed to the closure of Syria’s border with Iraq as a catalyst, forcing traders to seek new suppliers in countries like Turkiye and Egypt. “This transition requires substantial dollar liquidity, which further squeezes the market,” he said.

Currency smuggling and money laundering also continue to erode market stability. “These illicit activities persist unchecked, compounding the dollar’s rise,” Eid warned.

Future Uncertainty Amid Policy Shifts

Concerns are mounting about the impact of Iraq’s planned phase-out of its electronic transfer platform for dollar transactions. Introduced in early 2023, the platform was designed to monitor transfers more effectively. However, the Iraqi Central Bank announced in September that it would be discontinued by year-end.

“The Central Bank’s plan to shift dollar transactions exclusively to foreign banks with correspondent relationships is a blow to local banks,” said economist Ahmed Abdul Rabih. “Four dominant banks will monopolize the sector, sidelining smaller institutions and creating a bottleneck for dollar supply.”

“These banks will dictate the exchange rate, likely driving up prices. The Central Bank must advocate for local banks to establish accounts with international institutions like J.P. Morgan and Citibank,” Abdul Rabih urged.

Reassurances from the Central Bank

In response to public concerns, the Iraqi Central Bank has downplayed fears of major disruptions.

In a statement, it described the transition as part of a phased strategy to align with international standards, emphasizing that 95% of transfers had already shifted from the platform to direct banking relationships.

“The transition will be completed gradually, ensuring continuity,” the bank stated, adding that partnerships with foreign banks in China, India, Turkiye, and the UAE would facilitate trade using non-dollar currencies, such as the yuan and euro.

Thirteen Iraqi banks have already begun operations under the new framework, offering pre-approved transfers and enabling global payment systems for personal and commercial needs, the statement said. These steps aim to “stabilize the currency and curb inflation, reinforcing official exchange rates as the benchmark for legitimate economic activities.”

“The official rate reflects real market dynamics,” the Central Bank stressed, warning against unofficial rates driven by “those engaging in unauthorized practices.”

The bank emphasized that it has structured external transfer operations and the fulfillment of dollar demand along proper channels, aligned with international practices, standards, and the Anti-Money Laundering and Counter-Terrorism Financing Law.

"Providing these channels for all purposes at the official dollar exchange rate makes this rate the true benchmark for economic practices, as evidenced by price stability and inflation control. Any other rate traded outside these channels is considered irregular and utilized by those engaging in non-compliant or illicit practices who avoid official channels in their dealings. These individuals bear the additional costs of purchasing at higher rates than the official price to create the illusion of a disparity between the official and unofficial rates." The statement concluded.

Despite reassurances, skepticism lingers among economic experts, who argue that without stricter enforcement and comprehensive reforms, the dinar’s fluctuations will persist. For many Iraqis, the cost of living remains tightly bound to the fate of the dollar. link

TIDBIT FROM MNT GOAT, 23 DEC

 Mnt Goat 

 ...we are almost there... According to my CBI contact the new elected US administration is now working with Iraq and has contacted Iraq and so this is also VERY GOOD news at this time. We must be patient and let the process play out... 

The process does not change only some events along the way to get there in Dr Shabibi’s plan to reinstate...

there is one more step to the de-dollarization process and that is to get off the sole de facto peg to the US dollar. This step must take place and soon, VERY SOON! There is no longer a need for it...It’s time to bring the Iraqi dinar to the forefront.

MAJEED: POSSIBLE RV FORCED, IF THE SHIPMENTS OF CASH DOLLARS FROM AMERICA DONT ARRIVE ON THE 23RD !!