Iraqi Dinar Guru Update (06-27-2024)

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Iraqi Dinar Guru Update

Intel Guru Frank26

The Float Dilemma

Frank26 discusses the complexity of allowing the Iraqi dinar to float freely. He explains that while a floating dinar could increase its value and benefit foreign investors, it also presents challenges. This decision involves balancing various interests, such as international contracts and currency reserves. He emphasizes the careful consideration needed due to the potential impact on Iraq’s economy.

Newshound Guru Samson

Commercial Arbitration Center in Iraq

Samson highlights the establishment of the Commercial Arbitration Center in Iraq. This development aims to improve commercial relations with other countries and is a step toward Iraq’s rejoining the World Trade Organization (WTO).

Newshound/Intel Guru Walkingstick

Exchange Rate Stagnation

Walkingstick attributes the lack of a new exchange rate to corruption, particularly from Iran, which affects the auctions conducted by the Central Bank of Iraq (CBI). This political interference is a significant obstacle to economic reform.

Newshound Guru Militia Man

Budget and Exchange Rate Revelation

Militia Man points out the anticipation surrounding the exposure of the new exchange rate within the budget. Despite the delay, he remains optimistic that the information will soon be revealed, emphasizing the legal status of the budget since June 12th.

Intel Guru Frank26

Iraq’s Economic Strength

Frank26 reports that Saleh, an Iraqi official, has assured the public of no cash supply issues, highlighting Iraq’s economic strength in the Middle East. Frank26 interprets this as a precursor to the introduction of lower-denomination notes and increased purchasing power.

Newshound/Intel Guru Mnt Goat

Zero Deletion Project and US Involvement

Mnt Goat shares insights from a CBI contact, indicating that the project to delete zeros from the Iraqi dinar was planned for June but is pending assurance from the US Treasury. This step is crucial for the next phases of Iraq’s financial reform, including the reinstatement of the dinar.

Newshound Guru Kaperoni

Iraq’s WTO Aspirations

Kaperoni discusses Iraq’s efforts to join the World Trade Organization, noting the establishment of the Commercial Arbitration Center as a critical step. This move aligns with Iraq’s broader goal of enhancing international commercial relations and benefiting from global trade.

Intel Guru MarkZ

Taxation on Dinar Exchange

MarkZ addresses concerns about potential taxation on the exchange of the Iraqi dinar. While there is uncertainty, he advises planning for possible taxes and consulting with tax professionals to ensure proper compliance.

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