Intel Guru Frank26
Here’s a report from Iraq with some important information. According to Firefly, a television channel, the governor of the Central Bank of Iraq (CBI) has said that the budget instructions are not being funded due to internal reasons, not the exchange rate. However, Frank thinks otherwise. He believes that the exchange rate between the Iraqi dinar and the American dollar is actually the reason behind this funding issue. According to him, the CBI needs to eliminate terrorism from its premises before implementing the monetary reform plan. Despite this, the reform plan is progressing smoothly.
Intel Guru Bruce
According to the report we received via WiserNow, the rates are currently very good for the dinar. Yesterday, the dinar rose on the Forex market and today it is being traded on the bank screen. The rates are extremely favorable.
Newshound Guru Sandy Ingram
Many people may not be aware, but Iraq has a secret asset – the ancient city of Babylon, located only 54 miles away from the capital city of Baghdad. Although the country has been busy drilling for oil, the gold deposits in these areas remain untouched. It is believed that the value of gold production could one day rival or even surpass that of oil. Currently, there are ongoing mining operations in the eastern Baghdad region, western desert, and Kurdistan area, where enormous gold deposits have been discovered.
Newshound Guru Pimpy
It seems that there are ongoing issues with the exchange rate. Currently, the proposed solution is to increase the interest rates for customers who deposit their money and keep it in the bank. A 7.5% interest rate is quite attractive for those looking to keep their money in the bank. In the past, we used to have similar options, but unfortunately, they are no longer available.
Intel Guru Frank26
I have a report from Iraq from someone on the ground. Firefly mentioned that the news on TV said that increasing the interest rate in Iraq will help the banking sector. Frank thinks that the interest rate is being raised because the exchange rate is about to increase in value.
Newshound/Intel Guru Mnt Goat
We have received information that the global system for the automation and modernization of customs (ACYCUDA) project is progressing well. This system will require a link to the international currency exchange to convert currency rates between countries for real-time updates. The system is designed to accept any international currency, not just the US dollar, for customs duties and tariffs payments. This is part of a larger plan to make Iraq a central hub for commerce in the Middle East, and the revenue generated from this project could potentially rival that of oil revenue. We have heard that the ACYCUDA system is scheduled to go live in January 2024. So, let’s be patient and wait for the reinstatement.
Intel Guru MarkZ
[via PDK] Question: What do you still expect as the rate for the dong? MarkZ: I still expect the low $2 range…$2.25ish. But, most of my sources say it could be more in the $3 dollar range…we shall see.