Iraqi Dinar Guru Update (11-8-2023)

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Iraqi Dinar Guru Update

Newshound Guru Pimpy

Here is a clearer version of the text you provided, with any errors corrected:

After assessing Al-Sudani and his cabinet’s work for a year, I would give them a B- grade, considering all the circumstances. To be honest, I anticipated a worse outcome, but once the budget is passed, we will see the true colors of the people. The second year will reveal whether Al-Sudani is the right candidate for the job or not. Just when we think we have the right person leading us on the right path, another election is around the corner, which will provide us with all the information we need to know.

Intel Guru Frank26

 [Iraq boots-on-the-ground report]    FIREFLY: FRANK asked about the Oil and Gas law by the 9th and whether an exchange rate would be possible before January 1st. It was said that without the HCL, there would be no exchange rate until 2024. I agree with this to a certain extent. In my opinion, between now and January 1st, you will see progress towards your desired outcome. They have already given a clue that the dollar will stop on January 1st.

Intel Guru MarkZ

The sale of gold bars and coins by the central bank of Iraq is set to resume on Wednesday, November 8th. The bank plans to sell to both private banks and the government, which is seen as a significant move towards de-dollarization. This decision, similar to that of Zimbabwe’s, highlights the importance of gold as a means of supporting the value of currencies.

Newshound/Intel Guru Mnt Goat 

The Finance Committee reaffirmed its support for the Central Bank’s exchange rate measures, indicating continued collaboration towards reinstatement on FOREX. The Parliamentary Finance Committee renewed its support for the Central Bank’s measures to control the exchange rate. This tells us they are still onboard and working with the CBI towards their common goal or the eventual reinstatement on FOREX.

Newshound Guru Militia Man 

Article: It has been reported that the withdrawal of dollars through ATM machines in Erbil has been prohibited, leading to the closure of some shops. According to a quote, this move is aimed at ending the parallel markets and exchange rates and driving an automatic increase in the value of the country’s currency, the dinar. It is believed that once the parallel market disappears, an internationally accepted exchange rate will be established.

Newshound Guru Pimpy 

Article: The value of the US dollar in Baghdad has surged, with the exchange rate jumping to 168 dinars per dollar. This is a result of intense speculation on the stock exchanges, which has caused the selling price to reach 1680 dinars for every dollar. Unfortunately, this means that the exchange rate has gone in the wrong direction, and there is a need to change it. It would be beneficial if the exchange rate could be reverted back to the original rate of 1190 dinars per dollar.

Intel Guru Frank26

[Iraq boots-on-the-ground report]   FIREFLY:  The black market exchange rate is now at 1680 and continuing to rise due to the monetary reform process carried out by Sudani and Alaq.

Intel Guru MarkZ 

There isn’t much news regarding the RV, but most people believe that the authorities tried their best to initiate the process on Friday and Saturday. However, they had a backup plan to do it on Monday night or Tuesday. The general feeling is that they are confident that the RV will be completed soon. Many people have high expectations for the next two days.

Newshound Guru Pimpy

It’s common to hear people saying that you must have humanitarian projects in order to exchange your currency. However, I believe that this is a misconception. Just to be clear, I am not saying that having a humanitarian project is a bad thing, but it’s not necessary for currency exchange.

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