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Official Central Bank of Iraq (CBI) Dinar Rate:
1184 IQD to 1 USD
Dinar Market Rate (CBI last reported 4-17-2018):
1205 IQD to 1 USD
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4-25-2018 Intel Guru Bruce Iraq did release their lower denominations in their ATM machines. ‘They have an in country rate that is known in country. They have a rate that has been flashing on our bank and Redemption Center screens and it is a front screen rate. We know that rate has been flashing meaning it is not quite locked in yet. It has been trading...But about 1pm this afternoon, the rate came off the screen and the word pending appeared. We...think pending is a good sign since when we see pending it means it is about to change and we are looking for a solid rate for Iraq to come into play on the screen. We don’t know when exactly. It could be anytime now. It could be tonight or tomorrow. We do not know. It looks like that is what we are really waiting for. That seems to me what we need to get everything kicked off. [post 2 of 2]
4-25-2018 Intel Guru Bruce On Sunday I got 11 calls from one of my main sources...a nugget here and a nugget there, indicator of things are moving along. ...there was an IMF meeting in Washington this past weekend... They voted and settled on a Go about 6pm EST. ...For awhile it was looking sketchy there, and now we think we are in good shape with the IMF. Everybody is in agreement. Things are being done. Iraq has a week starting tomorrow which is a finance education week... They need that done to educate their people about banking and the banking system that is in Iraq. We understand that the ATMs were turned on and the Fintech System which is one of the new parts of the Global Transfer System, the CIPs Systems. ...That was partially connected Sunday and by now it is completely connected, up and running, and functional. So Iraq can be basically part of the world stage for banking transfers and so on. [post 1 of 2....stay tuned]
4-25-2018 Intel/Newshound Guru sandyf [what is the different between Chapter 8 UN and IMF? and which one is more important for Iraq Currency to get RV/RI/Float/LOP whatever it is?] There is a great deal of confusion over this... The UN has a Charter and the Charter has Chapters, Iraq has been subject of Chapters 6 & 7, not Chapter 8 which deals with local security. The IMF has Articles of Agreement which members must adhere to and the IMF deal in Monetary matters. Currently Iraq is under IMF Article 14 which is described as a transitional arrangement and as such the currency is non convertible. Iraq would need to accept the obligations of Article 8 for the currency to become partially convertible and be accepted at banks internationally.
4-25-2018 Newshound/Intel Guru Mnt Goat RUMOR: Over in Iraq their saying ATM's will go live on Saturday and Sunday. Telling them in the mosques the ATM's would be live this weekend. oh – really? I have personally talked to my CBI contact and they do not plan to turn the ATMs on until sometime after the election process. I do not know why any bank would turn on the ATMs without the reinstatement and thus a significant change in the rate...
4-25-2018 Newshound Guru Walkingstick ...the chatter of the 24 hour period they’ve been telling you about is coming soon as it (the chatter) is getting louder and louder...They are about to settle the 24 hour period when they activate the ATM machines. Why do you think they are about to give you the 24 hr time frame? Because they are ready. The CBI needs this but Donald Trump wants it done correctly. ...there is a massive media campaign. The RI of the small notes is coming.
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4-24-2018 Newshound Guru MilitiaMan Article “The Central Bank signs a memorandum with Visa International tomorrow” This is the same day for the start of the Financial Inclusion... Smells International! Article 8, convertible currency... What we all know now is that is about to change starting from what they say: TOMORROW. The memorandum with VISA comes the day of the beginning of Financial Inclusion. ...they were given phones by the CBI months ago and those phones are being used for a purpose and that purpose is now openly stated by the CBI that they are about to distribute the new notes and that they have a suitable environment. Citizens are getting TEXT MESSAGES now to come in and get paid, cards, exchange, etc...The program rate is imo about to change and they clearly are not hiding it. The process is underway and almost complete. I believe your witnessing that each and everyday.
4-24-2018 Newshound Guru G-Lin Article: "Tomorrow will start the week of financial inclusion in Iraq" Quote: "on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy " ...I like this. We were told they needed to educate the peeps. They should just about have it down after about 8 years of educating them.
4-24-2018 Newshound Guru Frank26 We, the USA do not want Iraq to continue this program rate. . .need to ween you off the USD. An RI in Iraq would be a level playing field for the IQD, not a program rate. ...Iraq was basically handicapped by the USD. This whole reinstatement has been in the hands of the President and that’s why when it was in the hands of Obama there was nothing but the testing of the economic reform’s all those years. Abadi is no dummy to the financial situation. He was once the finance minister. ...IMO, we are extremely close. Extremely close! EXTREMELY CLOSE! Do they give a date? No, and that is how they control the speculation. [post 3 of 3]
4-24-2018 Newshound Guru Frank26 ...The CBI, for the first time ever, came out yelling and screaming, declaring their official position on their currency. Isn’t that powerful? They are so close. They are ready. They are not about to do this unless it’s exactly as the three headed monster, the CBI, IMF, WB and for that matter, President Donald Trump wants it done. The CBI has fired a warning shot. Please we need a level playing field with our currencies. They have always been a dual currency country. They did not give a darn. They do now. The CBI is warning banks and vendors that an avalanche of three zero notes are about to pour into you when we RI and they must, they MUST accept those. [post 2 of 3....stay tuned]
4-24-2018 Newshound Guru Frank26 IMO, they printed just the small notes and the others (three zero notes) are being collected, and they will not be replaced. The three zero notes and the small denom’s are going to co-exist together. They don’t care about the three zero notes. And even though the CBI gave the banks and exchangers the plan several weeks ago, the banks and money exchangers are refusing the TZN’s. Therefore, The citizens are now applying pressure. Complaining to the government, the CBI. ...CBI issued a statement and said, “STOP refusing the three zero notes.” The CBI is listening to the citizens and addressing this issue. Telling the “banks, money changers, don’t mess this up! We told you the plan through the memo we sent you weeks ago.” [post 1 of 3....stay tuned]
4-24-2018 Newshound/Intel Guru Mnt Goat RUMOR: In Kurdistan banks exchanging damaged bills and three zero notes and giving out lower denom's of five's, two's and ones. The citizens in Iraq are NOT exchanging anything. I would not use the term “exchanges” but rather “turning in”. ...Also if any banks are issuing the 5,10 and 1 dinars it is not with the permission of the CBI. It is a mistake and the CBI will correct this mistake. So recently the CBI simply asked the citizens in Iraq to look under their mattresses and backyards for their hoards of the 3 zero notes. Then bring them in and deposit them in their bank account. They need to collect these notes prior to the RV to reduce the money supply first prior to issuing a new set of currency. Yes, some “smaller” notes are being given for some of the money turned in but certainly not fully replacing 3 zero note amounts for exact same amounts in the newer lower denominations. Why would they do this?
4-24-2018 Newshound Guru Kaperoni I can assure you nothing is going to happen with the dinar or the monetary policy at the CBI for at least two more months maybe longer because they have compliance commitments to meet with the IMF first. And then and only then when they're in compliance and the elections are completed and the new government is formed will they consider moving forward by moving to a float and leaving the peg.