Iraqi Dinar Guru Update (07-24-2023)

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Intel Guru Frank26 stated that :

We are currently observing the situation and our end goal is to achieve the budget for the years 2023, 2024, and 2025. We have discussed our aim to establish a market economy, and according to Al-Sudani, the Development Road Project will transform Iraq into a country that is globally connected. It almost seems like an official announcement of our internationalization. The Prime Minister’s endorsement of this project holds great significance to us.

Newshound Guru Militia Man stated that :

We are currently observing the situation and our end goal is to achieve the budget for the years 2023, 2024, and 2025. We have discussed our aim to establish a market economy, and according to Al-Sudani, the Development Road Project will transform Iraq into a country that is globally connected. It almost seems like an official announcement of our internationalization. The Prime Minister’s endorsement of this project holds great significance to us.

Newshound Guru Kaperoni stated that :

If you wish to engage in international trade involving buying, selling, importing, or exporting goods, you must use your own currency. However, this can only happen if your banking system is in compliance and other banks acknowledge their ability to carry out these transactions. The World Trade Organization ensures that these regulations are met for fair and safe trade practices.

Newshound Guru Sandy Ingram stated that :

Can you tell me why the revaluation process is taking so long? According to IMF regulations, Iraq must establish a stable source of income apart from the oil sector before they can endorse any changes to the currency’s value.

Intel Guru Frank26 stated that :

Article: A parliamentary committee is currently awaiting a meeting with the President of the Kurdistan Region to discuss the oil and gas law that the Sudanese government is insisting on approving. It is believed that the approval of this law, also known as the HCL, will lead to a new exchange rate. Everyone is eagerly anticipating the announcement of this new exchange rate.

Newshound Guru Militia Man stated that :

Banks require genuine capital to grow and adapt to the changing economic landscape. However, if they are unable to attract such funding, they may struggle to expand. The Central Bank has implemented stricter regulations, and there is a significant gap between the official rate and the parallel market rate, primarily due to the latter being illegal. The government plans to address this issue by curbing the parallel market. One potential strategy is to alter the exchange rate value and embrace an international market economy.

 Intel Guru MarkZ  [via PDK] 

The weekend was quite peaceful. However, I received a message from a redemption contact yesterday which simply stated “working today” without any further details. I wonder if they are making preparations for us or if they are occupied with tasks related to wealth management. It’s fascinating to learn that in some places, banks are arranging cubicles after construction, in order to switch to more “wealth management” services. This has been a hot topic in the news and on social media lately.

Newshound Guru Clare 

According to a news agency reporter, the Baghdad and Erbil stock exchanges have reached a new high in dollar prices. The main Al-Kifah and Al-Harithiya stock exchanges in Baghdad closed with a record of 153,700 Iraqi dinars against 100 dollars, which is an increase from this morning’s prices of 151,650 dinars against 100 dollars. It’s worth noting that this increase in dinar value is unfavorable for dinar holders.

Newshound Guru Samson, the expert on news, reports that:

Article: The exchange rates between the dollar and dinar in Baghdad have reached unprecedented highs in recent months. The dollar seems to be rapidly increasing in value, leading customers of “banned banks” to turn to the parallel market.

Intel Guru Bruce the expert on news, reports that:

[via WiserNow] The funds required for our exchange are now available at the banks. The Treasury has distributed the funds for our use, and we have been informed that everything is ready. The latest update indicates that the exchange rates have increased, but there is no need to worry about them as they will not affect us negatively.

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