Intel Guru Frank26
It’s concerning that large currency exchange kiosks are being set up in malls in Texas and Florida at this time. Can you explain the reasoning behind this decision?
Newshound Guru Militia Man
If new denominations of currency such as 1s, 5s, 10s, 20s, and 50s are introduced alongside the larger notes, they can coexist in circulation for up to a decade.
Newshound Guru Enorrste
It’s impressive that they’ve managed to accumulate 132 tons of gold and plan to add another 50 tons each year. Their goal is to establish the strongest currency in the world, and I believe they’ve already achieved that. With a cash reserve of 110 billion, they have over 100% coverage of their full money supply, something that no other country can boast. They’re serious about their aspirations and are determined to succeed.
Guru Nader From The Mid East
If you’re considering where to exchange your money, I can suggest a reliable option that will maximize your profits. It’s understandable why the parallel market continues to exist despite attempts to shut it down. However, there is potential for it to be better regulated. If we can decrease the prevalence of the parallel market from 70% to 20% or even 10%, the dinar could become a lot stronger. [Post 2 of 2]
Guru Nader From The Mid East
Allow me to clarify why it’s difficult to escape the parallel market. For instance, if you reside in Iraq and possess $1000, exchanging it at a bank or exchange office would result in a conversion rate of 1320-1310 plus additional charges, leading to significant losses. On the other hand, the parallel market, accessible from an unlicensed street vendor, can offer better value, such as exchanging $1000 for 1500 dinar per dollar. [Post 1 of 2….stay tuned]
Intel Guru MarkZ [via PDK]
Yesterday, at around noon in Iraq, Telegram was shut down for “national security” reasons, according to several news sources. It’s believed that the government wanted to control the flow of information in and out of the country, particularly with regards to the upcoming currency revaluation. There are rumors that they will also begin controlling currency movement at the borders and press releases. This is an interesting development, and we’ll have to wait and see how it plays out.
Intel Guru Frank26
What is preventing the implementation of monetary reform and a new exchange rate? The reason behind this is the actions taken by Iran towards the government and banking structure of Iraq.
Newshound Guru Militia Man Article Quote:
Khalaf emphasized that the increase in the monetary mass depends on the increase of foreign reserves owned by the Central Bank. Thus, financing for public treasury is through exchanging dollars from oil sales with dinars. Therefore, the increase in dinar mass mainly comes from foreign currency. The Central Bank assures citizens that there is no reason to worry about any increase in monetary mass. It has no plans to do so, and citizens can trust the reassurances given by the CBI.
Newshound Guru Samson Article:
“This week, budget instructions have been issued and we can expect to see many projects come to fruition.
Newshound Guru Clare
Article: According to the Minister of Labor, this week marks the beginning of implementing the instructions outlined in the financial budget.
Intel Guru MarkZ
[via PDK] I have a story to share about a Regional Bank in North Carolina. A customer visited their local branch and noticed a new office with a currency exchange room containing pictures of mostly European currencies. The customer asked about it and was told that the bank handles many different currencies. They mentioned they had a lot of Vietnamese dong and asked about the exchange rate. The branch manager replied that they were hearing it would be around $3.
