Firefly: Major Deal Incoming to End Oil & Salary Crisis in Iraq! 🇮🇶💰 @DINARREVALUATION #IQD #Iraq

 

Advisor To The Prime Minister: Economic And Disciplinary Factors Behind The Stability Of The Exchange Rate And The Decline Of Dollarization

 Advisor To The Prime Minister: Economic And Disciplinary Factors Behind The Stability Of The Exchange Rate And The Decline Of Dollarization

 
Time: 2025/07/17 13:55:21 Reads: 750 Times  {Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih,  confirmed that the
     decline in the "dollarization" phenomenon and the
     stability of the Iraqi dinar exchange rate
are due to a combination of decisive economic and disciplinary factors.
 
Saleh explained in a statement to Al Furat News Agency that "the disciplinary factors included 
 tightening controls on the use of the dollar in domestic transactions and  completely prohibiting its use in local settlements and payments, in accordance with the law. 

He pointed out that these measures included bank deposit mechanisms for real estate transactions,
which had previously been the focus of demand for cash dollars,  and which the dinar had replaced with remarkable success. 

He noted that this success is credited to the Central Bank of Iraq and its monetary policy, despite the criticism it has faced. Saleh added that the exchange rates in the parallel market would have been in line with the official markets had it not been for the recent geopolitical tensions in the Middle East, which caused a difference of 142 dinars per dollar." 

The financial advisor explained that 
 
Financing Foreign Trade and Monetary Enhancing Mechanisms
 
"one of the most important success factors that led to the decline in the strength of the parallel market was the direct financing of foreign trade for small traders from official dollar outlets at a rate of 1,320 dinars per dollar,   without the need for intermediaries.

 He pointed out that imports by small traders constitute more than 50% of the total foreign market trade in Iraq."
 
Saleh did not neglect to point out that the mechanisms for strengthening Iraqi banks' foreign currency reserves with correspondent banks have become easier as an alternative to the Central Bank's window and previous platforms,
 
which were abolished at the beginning of the year. He emphasized that these mechanisms have proven successful in dominating the official exchange market as a whole in foreign transfer transactions at the fixed exchange rate of 1,320 dinars per dollar.
 
Trade Policy and the Use of Electronic Payments
 
Saleh also emphasized  the role of trade policy, which intervened for the first time by opening giant shopping centers and expanding in this direction (hypermarkets),
 
describing it as a "price defense policy in favor of the official exchange rate," and weakening market demand for financing some of its trade from the parallel market, which has become "highly expensive."
 
Finally, the financial advisor noted the growing trend among the public toward the widespread use of electronic payment cards funded at the official exchange rate (1,320 dinars), which has become "one of the modern travel customs and traditions in Iraq."  

He added that travelers now receive a share of cash dollars when traveling, according to very transparent and strict controls.    
  
https://alforatnews.iq/news/مستشار-رئيس-الوزراء-عوامل-اقتصادية-وانضباطية-وراء-استقرار-سعر-الصرف-وتراجع-الدولرة  

FRANK26: 💥 Frank26: “1:1 Rate is Useless – Fix It and Float It!” | The Truth About Sudani & The Dinar

 Frank26 

  I always like the idea of a 1 to 1 pairing with the American dollar, instead come out at its real effective exchange rate, fixed rate and let it float at that rate so that it helps the other Middle Eastern currencies in that basket because at 1 to 1 it wouldn't help anybody...

Fixed rate now, under these conditions, is the way to go.

Community comment:  "If you just get rid of Sudani then we'll have the new exchange rate."  That is the compete opposite. That is a moronic statement. 

 That is a weak statement in the sense you don't know what you're talking about.  You have not idea what Sudani's been doing.

 I don't like to talk about any other currency except the Iraqi dinar.  But when Trump became the president on the 20th of January, all of a sudden he started to do something that we didn't expect.  And it was tied into the Iraqi dinar.  The same thing that he wants from the Iraqi dinar is the same thing that he wants from every currency on this planet Earth.  Play fair with my dollar and stop using it.  How long has Iraq been using our dollar?  Over 20 years.

🔥 BREAKING: Iraq Cuts Ties with Iran – U.S. Banks Brace for Dinar Shockwave! 🇮🇶💸 #Frank26 #DinarRevaluation

Exchange Rate Arrangement

 Iraq’s de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement.   The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange rate policy. 

Effective February 8, 2023, the official exchange rate was set at ID 1,320 according to the closing prices of the daily bulletin of gold & main currencies published on the CBI website (www.cbi.iq).

There has been a change to Iraq’s exchange system since the last Article IV Consultation. 

Read also: Financial Sovereignty": Why Has Iraq Not Emancipated Financially from the Grip of the US Federal Reserve?

Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 
but no longer maintains any restrictions under this provision. 

Iraq does not maintain any current account exchange restrictions or MCPs. 

Starting January 2025, all international transactions have been routed through commercial banks via their correspondent banking relationships (CBRs). 

The Central Bank of Iraq (CBI) replenishes these balances weekly based on foreign exchange demand and conducts audits to ensure that the allocated funds are used in compliance with AML/CFT regulations. 

Private banks are also encouraged to broaden their CBR networks, particularly with non-U.S. financial institutions.
 
FUND RELATIONS   (As of April 7, 2025)  page 2 

https://www.imf.org/-/media/Files/Publications/CR/2025/English/1irqea2025001-source-pdf.ashx

BROTHERS TECHNOLOGY: 🚚💰 Armored Cash Convoy: Baghdad Sends Billions to Erbil for Kurdistan Salaries! 🔥

 BROTHERS TECHNOLOGY INC

‎Armored Delivery 

‎A local source in Kirkuk province reported on Saturday that cars belonging to the Iraqi Ministry of Finance began to arrive in Erbil, loaded with funds allocated to pay the salaries of employees of the Kurdistan Region.

‎The source told Shafaq News Agency that “cars loaded with funds entered today the borders of Kirkuk province coming from Baghdad, heading towards Erbil,” noting that “these funds are transferred through armored cars belonging to the Ministry of Finance, accompanied by a security force to ensure their safe arrival at its destination.”

‎The source pointed out that "this step comes in implementation of the agreement recently concluded between the federal government and the regional government with the aim of disbursing the salaries of employees in Kurdistan directly from Baghdad, within an agreed timetable."

Read also: May salaries will be paid, and June salaries will be paid in the coming days. The Council of Ministers approves the memorandum of understanding with Kurdistan

‎A source in the Ministry of Finance and Economy of the Kurdistan Regional Government revealed earlier on Saturday that the distribution of the salaries of the region's employees for the month of last May, starting tomorrow, Sunday.

‎The source, who asked not to be named, told Shafaq News Agency that "the Ministry of Finance and Economy in the regional government will, tomorrow, Sunday, deposit 120 billion dinars, as local revenues, in the account of the Federal Ministry of Finance through the branch of the Central Bank of Iraq in Erbil."

‎He added that "the Federal Ministry of Finance will deposit next Monday the amount of 960 billion dinars in the account of the Ministry of Finance and Economy in the regional government, as the salaries dues for May," noting that "the ministry will start distributing salaries to employees from Tuesday to next Thursday."

‎The source pointed out that "the Ministry of Finance and Economy will deposit another amount of 120 billion dinars on Sunday following Sunday, in the account of the Federal Ministry of Finance, as local revenues, provided that the latter deposits 960 billion dinars to cover the salaries of June, where the distribution of salaries in the region will begin from Tuesday to Thursday in the same week."

SANDY INGRAM: 🇮🇶💰 Iraq vs. U.S. Treasury: SWIFT Showdown Over Sanctions & Sovereignty! ⚠️

 Sandy Ingram   

Iraq is in trouble with the US Treasury Department...Officially Iraq is a member of SWIFT but in practice...

 many of the country's banks have been incredibly slow to get on board preferring to stick with older more opaque methods of moving money including cash...

One of the primary reasons for this hesitation is a profound concern over privacy and sovereignty.  Iraq's financial system has traditionally operated with a level of discretion fundamentally incompatible with the kind of radical transparency SWIFT demands...

The United States Treasury...sees Iraq's incomplete SWIFT usage as a gaping loophole that undermines their entire sanctions regime on the region and they are losing patience.

  This puts Iraq in an incredibly difficult position, trying to appease a powerful ally without completely alienating a powerful neighbor.