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Official Central Bank of Iraq (CBI) Dinar Rate:
1190 IQD to 1 USD
Dinar Market Rate:
(CBI last reported 10-8-2018)
1208 IQD to 1 USD
- Rates Are Within IMF 2% Rule: YES
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10-22-2018 Newshound/Intel Guru Mnt Goat Article: "MAHDI WILL PRESENT THE NAMES OF MEMBERS OF HIS CABINET AND THE GOVERNMENT PROGRAM TO THE HOUSE OF REPRESENTATIVES ON MONDAY" ...Mahdi has come way too far already...Closer than any other designate prime minister before in getting this completed head of the deadline.
10-22-2018 Newshound/Intel Guru David M. Witty US says it will support the new Iraqi government of PM Abdel-Mahdi if Iraq fully adheres to US sanctions on Iran.
10-22-2018 Newshound/Intel Guru Mnt Goat ...this past week we heard many stories from the news media in Iraq when the announcement of Mahdi’s new government would take place. We were originally told on Thursday, then postponed until Saturday and then Sunday. Now...they are telling us to wait until Monday. I also want to reemphasize that you should NOT be anticipating an RV once the government is formed. ...This reinstatement will occur ONLY upon indication from the CBI. So far they have not said anything more in this regards. We do know they are targeting by the end of October and then they move on to EARLY 2019, if it can not be accomplished in this timeframe. Let’s sit back and see what happens...
10-22-2018 Newshound/Intel Guru David M. Witty Iraqi political source says incoming PM Abdel-Mahdi will present a partial cabinet of 15 ministers to Parliament on Wednesday for approval. Somewhere between 11 & 13 of the ministers are independents.
10-22-2018 Newshound Guru Bloodloch [...how DOES Iraq turn trillions of dinar into billions of dinar that are equal to the worth of a dollar and we still get our 'tasty treat' preferably (but unlikely) before Halloween?] [reference Guru Bloodloch post 10-21-2018] I knew I probably should not have used a Halloween metaphor. But who knows, maybe it will happen by then, although I'm not predicting as much. ...As for how they'll turn those trillions into billions, that's the crux of it, the secret sauce so to speak. The fact that the CBI hasn't announced the details yet means it's probably a secret. Whether I'm right or wrong, ...doesn't really matter. I'm waiting on the release of the very low denominations in the 1 dinar to 100 dinar range before I'll know for sure. Until then, it's still in play. The release of those very low denominations. That'll be our confirmation one way or the other.
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10-21-2018 Newshound/Intel Guru Mnt Goat I want to remind everyone that there is NO FACTUAL basis for anyone telling you the Reinstatement is imminent. I know of a plan to reinstate the currency by the end of October if and only if the US is willing to sign off on it. This will NOT occur unless the government is “fully” formed and key positions are NOT in jeopardy. Personally, I believe we will move into 2019 without a reinstatement as the CBI is already looking at this timeframe as a possibility. There is just too much evidence building already for the case of 2019.
10-21-2018 Intel Guru RayRen98 Parliament meets today to resolve 70% or more of Madhi's cabinet selections amidst assurances that he would not select previous ministers of PM Abadi cabinet or any deputies from the current session. The intent is to conclude that the votes on the government of Madhi does not exceed this week. A memo, intended for banks to arrive late Friday evening, has not appeared with some banks and did with others. The basic emphasis is on expected changes on Forex. Let's just wait and see what happens later today when it opens. Screens were grayed out over the weekend.
10-21-2018 Intel Guru Frank26 They talk about maybe ...[Saturday], maybe Sunday, to sit the government. But they won’t. Now don’t get depressed about that. What does that have to do with the Monetary Reform? It would be nice to have it. But look, go back to the days of Maliki. Go back to the days of Abadi? Did you ever see a fully seated government? No. Fascinating isn’t it? Do you expect Mahdi to give you a fully seated Government too? In my opinion, Noooo. ...In my opinion family… Mahdi may resign before the GOI is even seated. I mean he might, he might not, it’s just my opinion. You know why it’s my opinion? Because it’s a rumor in Iraq.
10-21-2018 Newshound Guru Bloodloch There are reports of recent IQD talk from an Iraqi economist along the lines of "We should equal the US dollar." If true, this is precisely what I've been expecting them to inevitably do. To the penny. Yet, they cannot just suddenly declare 44 trillion issued and outstanding dinars to have an exchange value of 44 trillion dollars now can they? No, of course not, since the idea is not to chase dinars out of the country for subsequent ex-pat exchange abuses, but to draw them into the financial system for the benefit of all Iraqi citizens. And if that's true, that they are not going to suddenly increase the exchange value of their issued dinars to equal the dollar, one might ask, what are they going to do to reestablish a vigorous and valuable sovereign Iraqi currency? Within that answer may lie both the trick and the happy treat.