Article quote: "Iran...Removing 4 zeros from the national currency is one of the key measures included in the action plan." Now watch, you're going to have numbers different people on the internet saying, 'it's a LOP.'
If you believe the United States Treasury and the World Bank and the Bank of International Settlements have worked for 21 years to erase the value of the currency? You have to be kidding me..
.Lopping a currency isn't part of a current reform program. It's destroying value.That's not what we're talking about here. We have two really rich countries ...The toman/rial is far less valued than the Iraq dinar...I think this is good.
IRAQI PRESIDENT AND CBI GOVERNOR DISCUSS ECONOMIC REFORMS
President Abdul Latif Jamal Rashid and Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, met at Baghdad Palace to discuss economic reforms aimed at strengthening Iraq’s financial sector and fostering sustainable growth.
They emphasized the importance of modernizing the banking system, stabilizing the market, and creating a robust financial framework to attract investment and support development.
Full statement from the Office of the Iraqi President:
President Abdul Latif Jamal Rashid met with Central Bank Governor Ali Al-Alaq at Baghdad Palace for a discussion on comprehensive economic reforms designed to strengthen Iraq’s financial sector and promote sustainable economic growth. The meeting focused on the Central Bank’s ongoing efforts to modernize the banking system, address current economic challenges and stabilize the local market. They agreed on the need for a robust financial framework to drive sustainable development and long-term growth.
“As we move forward, a strong financial policy framework will be key to unlocking Iraq’s economic potential,” President Rashid stated. “By fostering a supportive environment for the private sector and leveraging our stability, we can attract investment, generate employment and build a more prosperous future for all Iraqis.”
Governor Al-Alaq expressed his appreciation for the President’s leadership and reaffirmed the Central Bank’s commitment to enhancing financial stability, reforming fiscal policy and supporting national development goals.
The meeting highlighted the importance of continued cooperation between the government and the Central Bank in driving Iraq’s economic transformation and ensuring prosperity for its people.
FIREFLY:Mr. Sammy says, think about the importance of this weekend, all the meeting that are being held between Alaq and our President of Iraq.
It is at the palace...Alaq is the trigger man
for the rate and he ain't just talking to him about a program rate of 1310...We know the majority of the meeting was held on the monetary reform success.
FRANK: This meeting was very significant...The fact that Alaq and Sudani are also at this meeting with the IMF...
The IMF gives central banks permission to lift the value or change the value for their currency. These are exciting meetings that lead to only one conclusion..
DINAR REVALUATION : BLACK MARKET IN IRAQ IN TROUBLE!!
Dollar-dinar exchange rate expected to hold steady in Iraq
Shafaq News/ The exchange rate of the US dollar against the Iraqi dinar is expected to stabilize between 140,000 and 143,000 IQD per $100, according to Iraqi economic expert Mohammed al-Hassani.
Speaking to Shafaq News, al-Hassani said the relative stabilization in Iraq’s parallel market is driven by monetary policies implemented by the Central Bank of Iraq (CBI) and ongoing domestic market contraction, which has increased dollar supply amid weakened demand.
“The current range is likely to hold for a while due to these combined factors,” he noted.
However, Al-Hassani pointed out that a return to the official exchange rate set by CBI remains unlikely in the near term, citing continued instability in Iraq’s market conditions.
The US dollar has seen a gradual decline in recent weeks. As of Monday, it traded at 142,500 IQD per $100 on local currency exchanges.
