I was misinformed, and I misinformed you guys. This could not go before President Trump made his way back into the Oval Office, and the information we were getting might have been coded, and we took the code wrong, or whatever happened...my fault, my bad...
The good news is he is back in as of...the 20th of January...But now that we've crossed that threshold that President Trump is back...And the good news is that we are moving forward...
I just think we're looking very good to get started with this...there is nothing else to hold us up from going.
Exchange Rates Fall Against The Dinar In Baghdad And Erbil With The Closing
01/22/2025 Mawazine News – Economy The US dollar exchange rate fell against the Iraqi dinar on Wednesday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.
The dollar exchange rate also fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150.850 dinars per 100 dollars, while the dollar exchange rate this morning recorded 151.000 dinars per 100 dollars.
The selling prices in exchange shops in the local markets in Baghdad stabilized, where the selling price reached 152.000 dinars per 100 dollars, while the purchase price reached 150.000 dinars per 100 dollars.
In Erbil, the dollar also fell, where the selling price reached 150.700 dinars per 100 dollars, and the purchase price reached 150.600 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=258898
DINAR GURUS UPDATE: RECENT UPDATES OF THE IRAQI DINAR & VIETNAM DONG
Highlights
Summary
Wolverine expresses optimism about the current liquidity situation and how individuals are beginning to secure bank appointments, suggesting that a significant shift in currency rates might be imminent.
MarKZ discusses projected rates for the Dinar and Dong, emphasizing that while estimates range between $3.90 to $4 for the Dinar and $2 to $3 for the Dong, final confirmation will only occur at the banks. Additionally, the video addresses the introduction of new 30 Dinar banknotes with advanced features for the visually impaired, clarifying that these notes will remain in circulation post-zero deletion project.
A significant portion of the video discusses the implications of the amendment to Article 12, which relates to oil revenue distribution, particularly for the Kurdish region.
Mr. Samy articulates that this amendment is tied to budget planning and exchange rates, highlighting the urgency for government action to avoid delays in salary payments for workers dependent on oil revenue. The discussion also emphasizes the importance of budgetary transparency and the potential impact on everyday lives.
🚀 Optimism in Currency Exchange: Intel Guru Wolverine shares excitement about imminent changes in the Iraqi Dinar’s value, with bank appointments being scheduled.
📉 Projected Currency Rates: MarKZ provides insights on expected rates of $3.90-$4 for the Dinar and $2-$3 for the Dong, emphasizing that these rates will only be confirmed at banks.
🔍 New Dinar Banknotes: Iraq’s Central Bank assures that new 30 Dinar notes will remain valid post-project zero deletion, addressing concerns for visually impaired individuals.
🛢️ Impact of Article 12 Amendment: The amendment is highlighted as crucial for oil revenue distribution in the Kurdish region, influencing salary payments and budget planning.
📊 Budget Transparency: New budget tables are discussed as a means for citizens to understand government spending, enhancing accountability.
🌍 Red List Implications: Getting off the “red list” can improve a country’s image and attract foreign investments, boosting economic growth.
💵 Stabilization of Exchange Rates: Current exchange rates for the US dollar against the Iraqi Dinar show stability, indicating a steady market environment.
Key Insights
📈 Liquidity Readiness for Currency Changes: The insights shared by Wolverine regarding liquidity readiness indicate a pivotal moment for Iraqi currency. The anticipation of bank appointments and confirmations suggests that a long-awaited currency revaluation may be on the horizon. This readiness could lead to increased investor confidence and a more stable economy, especially if rates align favorably with projections.
🌐 Significance of Projected Rates: MarKZ projected rates for the Dinar and Dong reflect the market’s expectations and the factors driving currency valuation. The range of $3.90 to $4 for the Dinar and $2 to $3 for the Dong indicates a potential appreciation, which can significantly impact international trade dynamics, remittances, and the purchasing power of citizens.
👁️ Accessibility in Currency: The introduction of new banknotes designed for the visually impaired is a progressive step toward inclusivity in Iraq’s financial system. The Central Bank’s commitment to ensuring these notes remain valid illustrates a broader effort to enhance accessibility while maintaining currency integrity during the transition away from zeroes.
💼 Impact of Fiscal Policies on Daily Lives: The discussions surrounding Article 12 highlight how governmental decisions intricately affect everyday individuals, particularly those reliant on oil revenues. Delayed salary payments could have a cascading effect on household finances, showcasing the importance of timely budget adjustments and transparent fiscal policies.
📉 Need for Clarity in Budget Allocations: The introduction of new budget tables enhances transparency, allowing citizens to scrutinize government spending. This transparency empowers individuals to engage in discussions about resource allocation, advocating for fair distribution and accountability from their leaders.
🚀 Economic Revitalization through International Investments: The insights into the “red list” concept elucidate how removing this label is not merely symbolic but crucial for attracting foreign investments. As countries shed their negative reputations, they become more appealing to businesses, which can lead to job creation and economic revitalization.
💵 Stability of Exchange Rates and Market Confidence: The stabilization of exchange rates for the US dollar against the Iraqi Dinar serves as a positive indicator for the market. This stability can bolster confidence among local and foreign investors, as it reduces the risks associated with currency fluctuations and fosters a more predictable economic environment.
Expert: 70% Of Iraq's Remittances Are Controlled By Jordanian And Gulf Banks
Buratha News Agency992025-01-22 Economic expert Ahmed Abdel Rabbo confirmed today, Wednesday, that Jordanian and Gulf banks control more than 70% of financial transfers in Iraq, noting that the dollar is delivered to only four Jordanian and Gulf companies.
Abdul Rabbo said in a statement to / Al-Maalouma /, that "Jordanian banks did not provide any real services to Iraq," adding that "closing the dollar selling platform opened the way for Jordanian and foreign banks to take over the Iraqi financial market, which raised questions about the role of Iraqi financial institutions in this regard."
He pointed out that "Jordanian banks control more than 70% of financial transfers in Iraq," explaining that
"this control constitutes a direct harm to Iraq's sovereignty and financial decisions, especially with the absence of any effective role for these banks in serving the Iraqi economy."
He called for "reviewing financial policies and strengthening the local role to ensure the stability of the country's financial sector."
Reports indicate that 8 Jordanian and Gulf banks control money transfer operations in Iraq, which led to these banks controlling the flow of dollars into the country. This control forced the exclusion of more than 1,000 Iraqi banks and offices, raising concerns about negative effects on the local economy and financial sovereignty. https://burathanews.com/arabic/economic/455449
Article: "CBI unveils new banknote security features"
Yes they are new bank notes but the difference between the new ones and the old ones is there are additional security features on there so no, there's no panic about you having to switch out your old notes for the new notes...
Why go through the hassle of putting on all these additional security features if you thought you were going to change your currency and give it a re-denomination without the zeros and change the exchange rate?
Doesn't sound to me like there is any plans in the very near future for them to go ahead and re-denominate as well as change the exchange rate.