Iraqi Dinar Guru Update (09-28-2023)

Newshound Guru Militia Man

There are many complex processes that happen behind the scenes, which the average person may not be aware of. Most people are just looking for updates on progress and wondering when it will happen. However, the good news is that both what we see in public and behind the scenes indicates that progress is being made at a fast and furious pace.

Intel Guru Frank26

It’s perplexing why there is an influx of interest in investing in Iraq, despite the fact that the country is still under sanctions and has a fixed currency exchange rate. However, my opinion is that the reason behind this surge is because Sudani is unveiling a new monetary reform mechanism that involves introducing a new national currency with a fresh exchange rate.

Newshound Guru Pimpy

It seemed like the situation had stabilized, but unfortunately, the parallel markets are now completely out of control. The current exchange rate is 1630 dinars for every US dollar, compared to the official rate of 1300 dinars per dollar. This means that citizens who possess US dollars can get more dinars on the black market than they can through the bank at the official rate. As a result, there is no incentive for citizens to avoid the black market. The US dollar is much stronger in Iraq than the Iraqi dinar, causing it to be more desirable. The only solution would be to find a way to strengthen the dinar so it can compete with the US dollar. [Post 2 of 2]

Newshound Guru Pimpy

There is some discussion about Al-Sudani taking action to improve the dinar exchange rate. According to an article, “Sudani will announce next week a banking service that leads to the decline of the dollar.” I have been trying to figure out what Al-Sudani might do, and it seems likely that they will address the exchange rate. Iraq’s options are limited in this regard, as they previously increased the exchange rate to 1450 dinars per dollar to counteract the out-of-control parallel exchange rate.  [Post 1 of 2….stay tuned]

Newshound Guru Samson

Al-Sudani will announce a new banking service next week aimed at reducing the use of the dollar.

Intel Guru Bruce

New Iraqi Dinar rate expected to be published in Gazette on October 27th or 28th. The international Iraqi Dinar rate is expected to be very high, as is Dong.

Intel Guru Frank26

Here’s an on-the-ground report from Iraq. During a conversation, Firefly stated that January 1st has been mentioned as the date when the stabilization process will be completed. However, Frank clarified that there is a two-week time frame between November and December that is crucial to their study. Even if the process is not completed by January 1st, it can still be announced and released within this time frame. Sudani is reassuring Iraqi citizens that the country is on the path to stability.

Intel Guru MarkZ

According to sources, Iraq is currently working on modernizing its banking system to introduce “Electronic Payment Support”. There are indications that they are in the process of joining the World Trade Organizations, but the timing of the announcement is still not clear. Internal documents available on their websites suggest that they cannot fully join until they have an international currency that is not under any sanctions or restrictions. The situation is intentionally made confusing, but it is hoped that Iraqi contacts are correct in predicting that the announcement will be made over the upcoming weekend.