FRANK26: "THIS GETS TO 1 TO 1, TO FLOAT FOR THE REER".

 KTFA

FRANK26: "THIS GETS TO 1 TO 1, TO FLOAT FOR THE  REER".....F26

 

Al-Nusairi: The Central Bank's policies and procedures have contributed to narrowing the gap between the parallel and official exchange rates.

6/11/2025

 

- Baghdad
 

Economic and banking advisor Samir Al-Nusairi expects the US dollar exchange rate to gradually decline to approach the official exchange rate, in line with the Central Bank's strategy and ongoing measures for comprehensive banking reform, regulating foreign trade financing, and transitioning from an electronic platform to direct transactions between our banks and correspondent banks.

Al-Nusairi stressed in a televised interview followed by "Al-Eqtisad News" that "the exchange rate announced as the parallel rate does not reflect the price reality, because Iraq does not have the status of a parallel market, which is only achieved when it has sources of dollars and currencies other than the central bank, such as private sector exports, remittances from residents abroad, tourism, etc." Rather, it is a black market for speculators who have lost their ability to manipulate and speculate illegally for 3 months. Also, restricting the sale and distribution of cash dollars with a strict mechanism was praised by the International Monetary Fund and the US Treasury as a successful and advanced method and application to control the stability of the US dollar exchange rate and keep cash dollar sales at a minimum level. Therefore, the circulation of it does not make it available for speculation in the parallel market.

He stated that "we should look at the rate at which the Central Bank covers all external operations, including imports and personal transfers. This explains the price stability, given the current inflation rate, which is less than 2.5%, which is lower than the inflation rates in neighboring countries. This means that the Central Bank has achieved two basic objectives of monetary policy: controlling exchange rates and reducing inflation.  This confirms that the wise monetary policy adopted by the Central Bank has contributed significantly to the stability of the exchange rate and the decline of the parallel market to the lowest possible level."

Al-Nusairi concluded that the Central Bank's insistence and cooperation with the government during the second half of the current year will lead to a gradual decline in the US dollar exchange rate, moving from the forties to the official exchange rate.

LINK

TIDBIT FROM BRUCE

 Bruce   

[via WiserNow] 

 We're standing by and letting Israel do what they're doing with Iran... We are not in it as of now, we're not involved...

lets believe...that we are going to move forward with the timeline that we have...that we will get notified, quite possibly Monday and begin exchanges on Tuesday...

I think we're on track for everything... So let's just see see how the weekend goes...

Dinar Revaluation: Essential Tips for Your Exchange Appointments

FRANK26: "WE KNOW WHERE YOU LIVE"

 KTFA

FRANK26: "WE KNOW WHERE YOU LIVE"......F26

The first Iraqi faction to enter the Iranian-American war

6/12/2025

The Secretary-General of the Sayyid al-Shuhada Brigades, Abu Alaa al-Walaei, threatened on Thursday to send dozens of "martyrs" to attack American interests if war breaks out against Iran.

Al-Walaei wrote in a post that was widely circulated on social media: "If war breaks out, hundreds of suicide bombers will be on the scene, and America's pride will be humiliated again, just as it was the first time in Iraq when it left, dragging its tails of disappointment."

He added: "This time, neither America nor its agents will remain in the Middle East, and regimes that sought protection from occupation will fall. Then victory will belong to God and His faithful servants."

This comes at a time of escalating regional tensions, following statements by Iranian Defense Minister Aziz Nasirzadeh, in which he threatened that his country would "strike US bases in the region if a conflict erupts with Washington over the nuclear talks."

For its part, the US Department of Defense (the Pentagon) confirmed on Wednesday that it had authorized the voluntary departure of US military families from several locations within the US Central Command (CENTCOM) operational area, which includes Iraq and other countries in the Middle East.

A Pentagon official told Shafaq News Agency, "The safety and security of our armed forces personnel and their families remains our top priority, and US Central Command (CENTCOM) continues to monitor escalating tensions in the Middle East."

The official added: "Defense Secretary Pete Hegseth has approved the voluntary departure of military families from multiple locations within the Central Command's operational area."

LINK

TIDBIT FROM PIMPY

Pimpy 

 Want to know how you redeem your money once the exchange rate changes and you're ready to cash in your money?

  Just go to your bank and exchange your foreign currency for regular US dollars.  That's all you have to do.

  There's no fancy 800#s, no special centers, nothing like that. 

FIREFLY: CHECKMATE!! : IRAQ MUST ADD VALUE TO THE DINAR ONCE STOPS THE C...

The Federation Of Industries Reveals A "Qualitative Shift" In The Path Of Iraqi Industry.

 The Federation Of Industries Reveals A "Qualitative Shift" In The Path Of Iraqi Industry.

Local   The head of the Iraqi Federation of Industries, Adel Akab, confirmed on Friday that the launch of the "National Code Platform" to introduce Iraqi industrial products represents a qualitative shift in the path of supporting local industry and empowering the private sector.

Akab told the official agency, followed by Al-Eqtisad News, that "Iraqi industry has always lacked an approved national code or a reliable barcode that would be recognized globally, which has been an obstacle to enhancing confidence in local products, especially in foreign markets.

" He explained that "the Iraqi Federation of Industries had previously adopted this file in 2010, but it was not activated due to the lack of appropriate conditions and weak institutional support at the time."

He added, "With direct support from Prime Minister Mohammed Shia al-Sudani, and through tireless efforts and direct coordination with the Industrial Coordination Council, the union has obtained official authorization to be the body authorized to issue the national code for industrial products, especially after a number of Iraqi goods entered the export pipeline. This requires providing reliable standards that specify the country of origin, the percentage of local manufacturing, and inspection and validity details."

He explained that "the program launched last Thursday is not limited to identifying Iraqi goods alone, but rather represents an integrated system to protect the national economy and enhance food and medicine security through a massive central database that documents local production and enables institutions and citizens alike to know the extent of available and surplus stock at any given time."

He continued, "The applied code includes all product information, including date, location, and type of production. It can also be tracked electronically via mobile phone in any country, which helps identify and easily monitor product locations." He emphasized that "this system ensures protection against counterfeiting and is adopted in all countries around the world."

He pointed out that "the launch of the project represents an official transition into implementation, following extensive preparatory work behind the scenes, and is an important step towards enhancing the reliability of the Iraqi product."

On June 5, Prime Minister Mohammed Shia al-Sudani launched the "Iraqi National Code" platform for QR codes to promote Iraqi industrial products. https://economy-news.net/content.php?id=56265