FIREFLY:There's an economic expert on the television...He's asking us Iraq citizens some questions regarding the exchange rate of our currency...He went on for 20 minutes talking about the pros and cons [of what we're about to do] and he reminded us that at one time the dinar was $3.30..
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Then we see new information commercials talking about the new national bonds...
Mr Sammy says this is another way to get the citizens to bring in their 3 zero notes that many are hoarding in the their homes.
FRANK: They are pushing the idea to buy the bonds. They'll use their 3-zero notes...The push to bring in as many 3-zero notes as possible is also another loud indicator of a change that's coming...
The Ministry of Trade announced the launch of the ration card automation project in Baghdad next Tuesday, to be followed by the governorates of the Kurdistan Region, noting that the project will complete the procedures for 32 million Iraqi citizens in the coming few days. The
ministry’s spokesman, Mohammed Hanoun, said in an interview followed by “Mawazine News”: “The ministry had previously launched the automation project in the governorates of Wasit and Salah al-Din as a first step, and these governorates are achieving advanced rates of completion and are close to completion. After that, we launched the project in 4 governorates: Maysan,
Diwaniyah, Anbar and Diyala. The project is witnessing a great turnout from citizens, and approximately 180-230 thousand people complete the automation of their cards daily.” He added, “The ministry will launch the automation project in Baghdad Governorate next Tuesday, after we completed the project in 6 governorates with 8 and a half million citizens. Now we are heading to launch it in Baghdad and we expect to reach the completion of the automation of 32 million citizens in the coming few days.” He added, “After a week or two in Baghdad Governorate, we will launch the project in the governorates of the Kurdistan Region, and there is cooperation with the regional government in this matter, and after the governorates of the region, it will be launched in Basra, Dhi Qar and Muthanna,” noting that “the ministry aspires to complete the automation project in all cities of Iraq by next June if no technical problems arise that require extending the period.”
I love the fact that Saleh is constantly coming out every day to talk to you Iraqi citizens about the success of their banking and monetary reform education.
This time he tells the Iraqi citizens that you banking reform is going through a major change. I call it a paradigm shift.
It is tremendous what is going on...You're not just a financial hub...
There are so many ways he can tell you Iraqi citizens that there is a new exchange rate coming but the evidence is all around you. IMO every day there's an announcement on your television in order to soften the shock of what is soon to be announced, a new exchange rate.
ERBIL (Kurdistan24) – In a significant breakthrough, Erbil and Baghdad have reached an agreement to resume the Kurdistan Region’s oil exports, marking a step toward resolving a longstanding economic and political dispute.
As part of the agreement, a joint technical committee has been formed to inspect and assess Kurdistan’s oil export pipelines.
The Kurdistan Regional Government’s (KRG) negotiating delegation announced the agreement on Sunday, emphasizing that it was reached following extensive communications and coordination between the Iraqi Federal Oil Ministry and the Kurdistan Region’s Ministry of Natural Resources (MoNR).
According to the statement, oil exports will resume in accordance with available quantities, ensuring a gradual return to international markets.
To facilitate this process, a joint technical team was established on Sunday to conduct inspections on Kurdistan’s oil export pipelines. This step is aimed at ensuring the smooth and efficient flow of oil exports, which have been suspended for nearly two years.
“In this regard, we reaffirm our commitment to implementing the provisions of the federal general budget law,”
the KRG delegation stated, signaling a commitment to the legal and regulatory framework governing oil revenues and resource management in Iraq.
The agreement follows an announcement by the Iraqi Oil Ministry on Saturday stating that all necessary procedures for resuming Kurdistan’s oil exports via Turkey’s Ceyhan port have been completed.
This development paves the way for Kurdistan’s crude oil to re-enter international markets, stabilizing the region’s energy sector and restoring a crucial revenue stream for both Erbil and Baghdad.
The halt in Kurdistan’s oil exports, which lasted nearly two years,
has had profound economic ramifications, resulting in an estimated $26 billion in losses for both Iraq and the Kurdistan Region.
The prolonged suspension also disrupted global energy markets, exacerbating supply chain challenges and economic uncertainty.
Reports by Reuters, citing eight different sources, previously suggested that the Trump administration had urged Iraq to expedite the resumption of Kurdistan’s oil exports, highlighting the geopolitical and economic significance of Kurdish crude in the broader energy landscape.
As Erbil and Baghdad move forward with the technical implementation of this agreement, attention will be focused on ensuring transparency and efficiency in oil export operations.
The resumption of exports is expected to provide much-needed financial relief to the Kurdistan Region while also strengthening the broader economic ties between the federal and regional governments.
US dollar exchange rate continues to drop in Iraq
This is what we want to see: 1st time I've seen it below 1500 IQDIraq has a parallel market for dinars exchange for dollars. THIS IS HUGE.
Todays rate unofficial 1480 IQD vs. official CBI 1310.
The US dollar exchange rate dropped in Baghdad’s Al-Kifah and Al-Harithiya stock exchanges, reaching 1,492.5 dinars compared to 1,499 Iraqi dinars on Sunday morning.
The exchange rate in currency exchange shops in Baghdad ranged between 1,500 dinars and 1,480 dinars, Shafaq News reported.
In Erbil, the US dollar exchange rate also declined, fluctuating between 1,491.5 and 1,490.5 Iraqi dinars.
The Central Bank of Iraq (CBI) said in February 2023 that it has begun using the new US dollar exchange rate of 1,300 dinars to every US dollar.
The previous official exchange rate was 1,450 dinars to one US dollar, which was being exchanged in the parallel market at a rate of 1,550 dinars.
While the official exchange rate was 1,450 dinars per dollar in January 2023, the US currency was being exchanged at 1,610 dinars during the same month in the parallel market in Iraq. This variation represented a more than 10 percent difference in exchange rates.
