DINAR RV UPDATE: 2 ARTICLES FROM IRAQ STATE THAT THE AUCTIONS OFFICIALLY END TODAY!! WOW!!! YESS!!

 

What Will Happen On Sunday? Goodbye Dollar Auction.. Central Bank Announces The End Of 20 Years Of Billions And Suspicions, 29 DEC

 What Will Happen On Sunday?

Goodbye Dollar Auction.. Central Bank Announces The End Of 20 Years Of Billions And Suspicions

Maysoun Al Shaheen – 964   The matter has been settled.. Iraq will no longer offer its precious dollars in the controversial dollar auction, or what was called the foreign currency sales window and the electronic platform. After 20 years since the start of this procedure, Ammar Khalaf, Deputy Governor of the Central Bank, confirmed in a statement to the 964 Network that the dollar platform has become closed in compliance with the date set by the governor to close it at the end of 2024.

Khalaf denied all rumors about the possibility of extending the platform’s work, and spoke with great positivity, reassuring the market and consumers that the overwhelming majority of traders have already adapted to the new system in which the Central Bank does not provide direct dollars to traders. But what will happen?!

The sale of the dollar was a mechanism adopted by the Iraqi government after 2003 during the era of Governor Sinan Al-Shabibi, for several goals mentioned in a study by the bank official, Dr. Walid Aidi Abdul Nabi , including controlling the exchange rate and raising the purchasing power of those with limited incomes, among others. It aims to provide hard currency to traders in order to finance their imports of goods from abroad, but the idea was later subject to much skepticism and suspicion, and the auction became one of the most frequently mentioned files in discussions about corruption, fictitious import invoices, and currency smuggling to neighboring countries, among others.

What is your opinion?

According to the new system after the window closes, traders will have to deposit their money in dinars in Iraqi banks that have entered into partnerships with foreign banks (called correspondent banks). These correspondent banks with American banks will undertake all verification and compliance procedures, while the Central Bank will only be tasked with strengthening the dollar balances in the accounts of banks that are able to pass all these procedures. Many experts believe that this step has relieved the Central Bank of responsibility for any potential manipulation of invoices or attempts to smuggle currency, and the Central Bank has thus protected itself from any potential American sanctions with their dangerous implications for the country’s economy.

Khalaf said, “The date for closing the platform is fixed, it will not change and will not be extended. The banks have been preparing since the beginning of this year when Governor Ali Al-Alaq announced his intention to close the platform.”

According to Khalaf, “transfers are made by strengthening the balances of Iraqi banks, and 97% of transfers are now made according to the new mechanism.

This will be noticeable during the first days of the new year, as the Central Bank’s transfers to banks that are operating at full capacity will not change by strengthening the balances with correspondent banks.”

However, he left the door open to the possibility of a very slight and ineffective decline in the Central Bank’s sales.

He pointed out that “the majority of banks in Iraq have correspondent banks and have been operating according to the new mechanism since the beginning of this year, and traders will not face any problem unless their money is in banks without correspondent banks.”  https://964media.com/492488/

TIDBIT FROM MNT GOAT, 29 DEC

 Mnt Goat 

  Didn’t I tell everyone years ago that Iraq is going to be a central hub for the middle east?

 Let me correct myself in saying it is now a central hub only it is not yet fully geared up and running to its potential.  Eighty-five docking stations for freight ships at the port of Faw and only five are now open.

 Imagine when all eighty-five slips are operational? The amount of freight that will flow through this port of Faw.

NADER : US TREASURY COMMENDS IRAQ'S CENTRAL BANK!! WOW!! @DINARREVALUATION #iraqidinarinvestor

 

,FRANK26: "THE IMMINENT STOPPING OF THE AUCTIONS!!!" , 29 DEC

 KTFA

FRANK26: "THE IMMINENT STOPPING OF THE AUCTIONS!!!"...........F26

 

Stopping the dollar selling platform will “confuse” the parallel market “more” coinciding with the Christmas holiday - Urgent

12/26/2024

Baghdad 

 

Economic expert Nasser Al-Tamimi revealed, today, Thursday (December 26, 2024), the reason for the continued rise in the dollar exchange rate in local markets for days.

Al-Tamimi told Baghdad Today , “There are two main reasons behind the continued rise in the dollar exchange rate in local markets for days,” indicating that “the first reason is the imminent suspension of the platform’s work at the Central Bank, as this The matter has caused confusion in the market, especially among small traders, who have increased their demand for dollars from the parallel market.”

He added, "The other reason is the proximity of the New Year's celebrations, as there is a demand for the dollar in the parallel market for the purpose of travel as well as buying some goods," expecting "the rise to continue until the beginning of the new year, after which it may return to a gradual and slow decline.”

Economic expert Nasser Al-Tamimi warned, on Tuesday (December 17, 2024), of a rise in the dollar exchange rate in Iraq in the coming days.

Al-Tamimi told Baghdad Today, “There are real fears in the Iraqi market of the continued rise in the dollar exchange rate after the Central Bank of Iraq stopped working on the platform,” indicating that “this matter will constitute a shock, especially at The beginning of implementation of the decision and will lead to a rise in the dollar, to increase demand for it in the parallel market.”

He added that "after the platform is stopped, most traders, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey in dollars, through illegal means," noting that "this is what will lead to the rise, and therefore practical steps must be taken to prevent this by the country's monetary authority, and urgently.”

The Central Bank of Iraq revealed on Wednesday (September 4, 2024) the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths and consistent with international practices and standards.

 

LINK

EXCERPTS FROM MARKZ, 29 DEC

 EXCERPTS FROM MARKZ

MZ: In Iraq: “More than one billion dollars CBI sales in 4 days” yes we did have foreign currency auctions this week.  All eyes will be on Monday to see if they continue or do not continue.

MZ: “Parliamentary finance: Financial Digital transformation will eliminate corruption and money laundering”  they are paving the road and laying the groundwork to changing the value of the dinar.

MZ: I have a bond contact who was asked to be in Europe-specifically Zurich on Monday…so he is making sudden travel arrangements. He wasn’t expecting to have to be there until the end of the first week in Jan. They have moved him a week. Hopefully this means things are speeding up.

Member: What is the connection between bonds and the RV?

Member: Historic bonds are part of international settlements in tier 3. They supposedly go just before we get notified…..If we see them go…..we know we are next…

MZ : There are also a few more rumors coming out of the Indian Nations here in the states. Continuing chatter is that they need to be prepared because it is imminent.

Member: Indian nations are also in tier 3. Along with church groups and other groups.

MZ: Also CMKX and Prosperity packages and part of tier 3.

Member: Chief Fast Horse says he has been paid the Tribal Funds.

Member: Rumor is Reno is on native land?

MZ: Still no response from redemption center contacts. That is very unusual. I will take it as good news.

DINAR REVALUATION REPORT: "Here what happened since December 24 until December 27" @DINARREVALUATION