Iraqi Dinar Guru Update (09-04-2023)

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Iraqi Dinar Guru
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Newshound Guru Clare

The Iraqi Central Bank has implemented new procedures for exchanging dollars for travelers. However, some currency traders have been exploiting this decision by obtaining passports from unsuspecting individuals and using them to purchase travel tickets and entry visas. They then use these documents to buy dollars at the official price and sell them at the parallel market price, earning millions of dinars in profit each day.

 Intel Guru Frank26

Since 2003, they have been trying to come up with a fair value. In my opinion, $4.25 would be a reasonable amount. However, I am not being greedy. Once the value reaches $3 or more, like other Middle Eastern countries, I will take advantage of it. It’s not necessary to exchange all of it. Even if you have 1 million dinars, exchange half and keep the other half. It’s essential to have a team, including lawyers, advisers, pastors, family, and seek guidance to make the right decisions. You can only make this decision once, so it’s important to calculate and plan accordingly.

Guest Guru jmsca08

I want to clarify that the exchange rate for the UAE is $1 = 0.27 cents USD, not $3. Similarly, for Saudi Arabia, the exchange rate is $1 = 0.26 cents USD, not $3. However, for Jordan, the exchange rate is JD1 = $1.41 USD. Other Arab countries with higher exchange rates than the dollar include Oman, where 1 Rial is equal to $2.59 USD, Bahrain, where 1 Dinar is equal to $2.65 USD, and Kuwait, where 1 Dinar is equal to $3.24 USD.

Intel Guru MarkZ 

The World Trade Organization (WTO) has been a significant topic of discussion since January. According to my sources, joining the WTO would signal full international integration for them. This has been a long-awaited development.

Newshound Guru Militia Man

This week, I discussed the progress that has been made in Iraq since January. One of the big accomplishments was their observer status in the World Trade Organization, which has been ongoing since 2004. From February to August, they have been preparing for full ascension to the WTO, which is significant because it means they can once again participate in the world economy and global financial system. It’s my understanding that Iraq now has enough security and stability to engage in deals and partnerships with other countries. Once they have an article 8 exchange rate, which is required for full ascension, Iraq will generate significant revenue. This development will change the landscape for all of us in a short period of time.

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