Intel Guru Frank26
I have a question regarding exchanging dinars. If I submit only a portion of the total amount, how long will I have to exchange the remaining ones? Would it be for 60 days or 30 days? Unfortunately, I am unsure about the exact duration. In my opinion, the International Monetary Fund usually allows a few years for the float, but due to the current high demand for the Iraqi dinar, it may not take that long.
Newshound Guru Militia Man
The Central Bank has issued stringent measures, and now they have released a fourth package to simplify the process of obtaining the dollar. However, if the dollar is eliminated, the parallel market will likely worsen due to supply and demand. As the value of the dollar increases, people may choose not to use it. There may come a time when individuals are unable to acquire it and are thus compelled to use their own currency, the dinar. The fourth package aims to address this situation.
Intel Guru MarkZ
[via PDK] In my opinion, they require this as soon as possible, not later. It’s unnecessary to have a lengthy delay. The news coming out of Iraq is very encouraging. Although I can’t provide an exact timeframe, sources indicate that it may occur between August 15th and 20th, in the current month, not next.
Newshound Guru Pimpy
Iraq has successfully implemented a budget for the past 20 years, even with a poor exchange rate. However, some people believe that the budget cannot survive without a higher exchange rate. This is not true. While the exchange rate does have an impact on the budget, its value is already accounted for. I’m not saying that Iraqis wouldn’t benefit from a higher exchange rate, but claims that the budget cannot survive without one are false. We should not underestimate Iraq’s ability to manage its finances.
Intel Guru Frank26
The HCL is not delayed. It is included in the budget and is waiting for the new exchange rate. The HCL is crucial in releasing the new exchange rate, and once it is visible, the new exchange rate will automatically be seen as well. These two are interdependent.
Newshound Guru Militia Man
Article: The article titled “Development Fund: A Step Towards Economic Advancement and Investment Revival” contains a wealth of information. It discusses the essential components of projects that will help Iraq progress towards modern infrastructure development, and bring it into the private sector. These efforts are crucial as they require significant investment in building networks of industrial cities and infrastructure. However, these costs can be reduced significantly by adjusting the currency exchange rate. Overall, the article suggests that this is an exciting time for Iraq, and the potential benefits of these developments are enormous.
Newshound/Intel Guru Mnt Goat
It is logical to assume that the United States will eventually release control and allow Iraq to fully manage their oil money again after being released from Chapter VII. The fact that articles like this one are being published indicates that pressure is building for this to happen. The UN may need to take action to force the US to relinquish control. Additionally, the OFAC sanctions on the dinar will need to be lifted. If the constitution is fully implemented and the Pillars of Financial Reform are completed, there is a possibility that we may see the RV and the Reinstatement. [post 2 of 2]
Newshound/Intel Guru Mnt Goat
There is some significant news to share. According to Muhammad Sahib al-Darraji, the technical advisor to the Prime Minister, Iraq has not officially come out from under Chapter Seven. This is in contrast to the previous announcement that Iraq had been fully released from Chapter VII. However, the real issue at play here is that the US is still exerting control over the billions of dollars of oil revenues flowing through the NY Chase Bank. This raises questions about how this situation will affect our chances of getting the RV. [Post 1 of 2….stay tuned]
Newshound Guru Militia Man
They need the exchange rate to value the oil and gas law and distribute wealth to citizens.
Intel Guru Frank26
Will the exchange rate change suddenly or gradually over time? Our prediction last month was for a gradual change, so we’ll see if that holds true.
Intel Guru Bruce
It has been difficult to confirm if the exchange will happen on Thursday or Friday as we were supposed to be notified on Wednesday or Thursday. If it started in Iraq, which is unconfirmed, then we will have to wait and see what happens in the next few days or even next week.
Newshound Guru Paulette
I’m not entirely certain about the specifics of the situation you’ve described. However, it is generally true that countries often have to pay for imports with foreign currency, as their own currency may not be accepted or may not hold enough value. Currency sales may indeed be necessary in order to acquire the necessary foreign currency for these transactions.Community Comment: “At 1310, they could roll out the project, but would run out of money due to the high cost of materials that need to be imported. A new rate will allow them to buy more materials, but 1310 will bankrupt them internationally.”
Newshound Guru Breitling
There is an email circulating about Warka Bank in Iraq selling stock, but I have not been able to confirm the information. Although Warka is backed by the CBI, it is also sanctioned by the CBI. Until all accounts are open, I will not do anything with Warka.
Intel Guru MarkZ
I think we’ll see it before the 20th, but I don’t know when exactly. I feel optimistic though.
Newshound Guru Pimpy
I read that there’s an Iraqi delegation in Washington that’s working hard to prepare for a visit from Al-Sudani. This makes me wonder what kind of discussions will take place during this meeting and what the outcome will be. It’s definitely interesting to see what comes out of it.Looks like there’s a lot of buzz surrounding the Iraqi delegation’s visit to Washington. They’re apparently working hard to prepare for a visit from Al-Sudani, and it’s got me wondering what kind of discussions will take place during this meeting and what the outcome will be. I’m definitely curious to see what comes out of it.
Intel Guru Frank26
Hey, I was just watching TV and there was a discussion about the oil and gas law potentially resolving disputes with the regions in Iraq. Apparently, Sudani has played a key role in bringing both sides together and this law could bring stability and help resolve all the issues. It seems like stability is really important for the country’s sovereignty and budget. [Iraq boots-on-the-ground report] Currently on TV, there is talk about how the oil and gas law could resolve disputes with the regions. Sudani has brought the two sides together and this law could bring stability and resolve all issues.
Intel Guru MarkZ
[via PDK] A question was asked about what happens if a currency is a float and how exchanging it at a contract rate will work. In response, MarkZ explained that there will still be redemption areas and trained staff to ensure the validity of the currency. Additionally, if the currency comes in as a float, a multi-currency account will be offered so it can be deposited and held as Iraqi dinar. However, the goal was to have the currency valued at $4, so it remains to be seen which direction it will go. [post 2 of 2]
Intel Guru MarkZ
[via PDK] It is possible for the value to be a float, but according to my banking sources, that is not the case. Since our dinar is being acquired through the oil for dinar program and being paid over time, we will receive a contracted price. While both scenarios are plausible, I am relaying what my sources and I believe. Anything below $1.30 doesn’t add up mathematically for them when considering their budget and goals. [post 1 of 2….stay tuned]
Newshound Guru Samson
Article: According to a quote, preliminary meetings related to the strategic framework agreement usually occur prior to the summit meeting between the two parties. The Iraqi delegation in Washington is paving the way for the Sudanese, and it is probable that the upcoming meeting will include both US President Joe Biden and Iraqi Prime Minister Muhammad Shia’a Al-Sudani.
Intel Guru Frank26
[Iraq boots-on-the-ground report] FIREFLY: I was watching the news on TV and they were discussing the central securities deposit system. My friend Frank was impressed and wondered how else we could control the monetary mass.
Intel Guru MarkZ
[via PDK] A reader shared a banking story with me. Their mother informed them that a major bank’s private client service had been attempting to contact her about the dong she had purchased. The mother made an appointment with the branch manager who was familiar with the QFS, dinar, dong, and Zim. The manager informed the mother that she needed to have at least $100,000 in cash to qualify for private client services. However, the appointment was based on the anticipated future value of the dong purchased through the bank, despite the mother only having $800 in her account. The appointment with the VP of investments for private client services is scheduled for Monday morning. We may receive updates on the situation soon, if the finish line has not yet been crossed.
Newshound/Intel Guru Mnt Goat
Article: The Central Bank of Iraq has issued directives outlining strict measures for exchange companies, which could even result in the withdrawal of their licenses and denial of access to currency trading windows. This indicates the seriousness of the situation and the need for compliance by all parties involved.
