Intel Guru Frank26
The content of the articles, whether they present a positive or negative perspective, is of secondary importance. What holds significant value is the discussion surrounding the increase in the exchange rate. This aspect is crucial, as it is being addressed by various parties, indicating its relevance and reality, regardless of the stance taken.
Newshound Guru Clare
Article: “Al-Sudani postpones his visit to the United Kingdom due to regional and international developments“
Newshound Guru Militia Man
The central bank of Iraq is undertaking measures to eliminate surplus liquidity by absorbing dinars from circulation. This action serves to strengthen the currency’s value through the principles of supply and demand. By decreasing the quantity of notes in circulation, the value of the currency is expected to rise. This mechanism has consistently functioned in this manner and is likely to continue in the future, in my opinion.
Newshound Guru Pimpy
Iraqi officials have decided to close the gate to the Green Zone in response to Shiite protests regarding the assassination of Nasrallah. This marks a significant development, as the Green Zone has remained open for the past two to three years without any closures.
Newshound Guru Harlequinc3
This individual appears to possess only a partial understanding of the situation. The Central Bank of Iraq (CBI) will not simply eliminate three zeros without simultaneously adjusting the nominal exchange rate and enhancing the purchasing power of the dinar. While some may refer to this adjustment as a revaluation (RV), the ultimate objective is reinstatement. The individual in question seems to focus solely on the currency exchange for Iraqis, neglecting the implications for the dinar on an international scale. For Iraqis, the removal of three zeros merely involves withdrawing old dinar from circulation and replacing it with smaller denominations or digital payments. This is why the individual discusses a partial peg, whereas the CBI is advocating for a complete float. His perspective is limited to only a segment of the overall process. It is important to note that this article is primarily directed towards an Iraqi audience. This is merely my opinion.
Intel Guru Frank26
They are providing a specific date for the conclusion of the auctions, indicating a timeframe. Subsequently, they inform them that three zeros will be removed, thereby enhancing their purchasing power. They also mention the implementation of the HCL. Furthermore, they assert that their currency will surpass the strength of the Jordanian dinar, indicating it will be valued higher than Jordan’s currency. It is my belief that they will achieve the Real Effective Exchange Rate (REER) through a floating exchange rate, estimated to be approximately $4.25.
Intel Guru MarkZ
On the banking front, there has been a notable fluctuation in rates over the weekend. The figures range from .00076, and I am aware of three distinct banks whose foreign currency trackers indicate a rate of $3.57 over the weekend once more. Although we are not yet able to facilitate exchanges, it certainly seems to be trending in that direction.
Newshound Guru Clare
Article: “Implications of Removing Zeros from the Iraqi Dinar: Insights from Dr. Mahmoud Dagher”
Commentary: “Economist Mahmoud Dagher emphasized that the removal of zeros will not alter the purchasing power of the dinar. Instead of managing a large quantity of 50,000 dinar notes, individuals will be able to handle a reduced number of notes post-zero removal, yet this will not affect their purchasing power. The total money supply currently stands at 105 trillion dinars, which will convert to 105 billion dinars following the removal of zeros, maintaining the same value. Consequently, the exchange rate will adjust from 1,320 dinars per dollar to 132 dinars per dollar.”
Newshound Guru Militia Man
Recently, there have been approximately five or six articles that focus specifically on the topic of eliminating zeros from the Iraqi dinar. It is stated that this process involves removing a certain number of zeros from the nominal value of the currency. This pertains to the value of the currency itself, rather than the physical currency notes.
Intel Guru Frank26
There are frequent announcements regarding an impending change to your currency, which is indeed thrilling for Iraqi citizens. These statements reflect aspirations that have been held for the past five years. The regularity of such news is both surprising and exhilarating at this moment. The situation is becoming increasingly dynamic, filled with excitement and a wealth of information about the monetary reform being directly communicated to you, the citizens of Iraq, from Sudani.
Newshound Guru Pimpy
Article: “Numerous demonstrators attempt to breach the US embassy in Baghdad following the assassination of Nasrallah.” Iraqi demonstrators are making efforts to invade the US Embassy in Baghdad. What implications does this have for holders of the Iraqi dinar? The last situation one desires is for a nation to be unstable, particularly with protesters attempting to breach the US Embassy.
Newshound Guru Kaperoni
The situation at the US Embassy in Iraq is concerning. I recall the previous instance when a Middle Eastern embassy faced a similar crisis under a president perceived as ineffective. I sincerely hope for a more favorable resolution this time. Let us keep the US personnel in Iraq in our thoughts and prayers.
Intel Guru Bruce
According to information from WiserNow, there are reports emerging from Iraq indicating that preparations for the introduction of smaller currency denominations are underway. It appears that while one-dollar notes may not be included, denominations of five, ten, twenty, fifty, and one hundred will be part of the new currency system. The existing three-zero notes, such as the 25,000, 10,000, 5,000, and 1,000 notes, are set to be phased out. This process is expected to be completed by the end of this month, specifically by the 30th.
