Iraqi Dinar Guru Update (07-26-2023)

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Intel Guru Frank26 stated that :

FIREFLY: There is currently a major campaign by the CBI to enhance the Iraqi dinar, as advertised on television. The campaign aims to make all payments and transactions in the country be in dinars, and banks that are not certified must also deal in dinars. This is part of a monetary reform to improve the value of the Iraqi dinar against foreign currencies. The CBI has taken steps to achieve this goal, and it is expected to come to fruition soon.

Newshound Guru Kaperoni stated that :

The exchange rate is a response to the growth of an economy, and not the other way around.

Newshound Guru Militia Man stated that :

Article: The members of the committee, not including Alaq, posed various questions about the rising exchange rates. They are inquiring about potential solutions. The central bank emphasized the need for radical solutions to address the crisis. However, the recent decrease from 1460 to 1310, and then to 1132, does not qualify as radical. The committee is suggesting a return to a previous era as a radical solution.

Newshound/Intel Guru Walkingstick stated that :

Question: Have you heard of the recent reference to Iraq as ‘1700’ or ‘Chapter VII’? What do you believe it represents? It seems to be a cautionary message or an alert. Even if they don’t act on it, the mere fact that they issued the warning is sufficient to get their attention. They don’t have to rely on outside influences; they simply need to overcome their own challenges.

Intel Guru Frank26 stated that :

FIREFLY: I’ve received news that 8 additional banks have been hit with sanctions. Reports indicate that the value of the dollar is expected to reach 1700.

Newshound Guru Pimpy stated that :

They need to sort out a method for working with the US once more and quit getting things done to irritate the US until Iraq is further alongside revamping framework, fabricating a steady economy and ensuring they’re opened up new floods of income other than oil deals…

Intel Guru MarkZ   [via PDK]  stated that :

[via PDK] Currently, there is increased pressure and citizens are protesting to demand fulfillment of political promises. This development is beneficial for us. Even discussions about the US being the cause of delay are positive. There is a limited timeframe for action to be taken. A successful currency revaluation in Iraq will resolve debt problems in the US. I am of the opinion that the Iraqi protestors are making this happen. The moment has come to act. [post 2 of 2]

Intel Guru MarkZ   [via PDK]  stated that :

The citizens have completed the necessary tasks to receive a rate change and economic improvement, but they are becoming restless. The IQD currency is currently depreciating in value compared to the USD, causing financial hardships for Iraqis who are understandably upset. The government is actively working towards gaining independence from American influence, and although progress is being made, it may not be as swift as desired.

Guru Nader From The Mid East stated that :

At 11:00 a.m., the Harith Exchange in Baghdad reported an exchange rate of IQD 155,200 per 100 US dollars. A large group of protesters have congregated in front of the Central Bank of Iraq building in the heart of Baghdad to express their anger about the exchange rate of the US dollar. They are demanding immediate action to address the ongoing increase in exchange rates.

Intel Guru Frank26 stated that :

Article: There is an economic warning indicating that Iraq may return to Chapter VII. This could happen if a new exchange rate is not established.

Newshound/Intel Guru Mnt Goat stated that :

As of now, the RV in Iraq and the reinstatement of the dinar have not taken place. The US Treasury OFAC sanctions on the Iraqi dinar are still in effect according to the banks. This is not just my personal view, but it is a fact that I learned from my CBI contact. Although I was told to expect the new rate on FOREX, it did not happen as anticipated. Therefore, I asked about the delay during my weekly call to Iraq. Apparently, the US Treasury audits of numerous major banks in Iraq caused the delay.

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