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Live New York Time
Live Baghdad Time
( Updated: )
Official Central Bank of Iraq (CBI) Dinar Rate:
1190 IQD to 1 USD
Dinar Market Rate:
(CBI last reported 4-18-2019)
1195.038 IQD to 1 USD
- Rates Are Within IMF 2% Rule: YES
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4-18-2019 Newshound Guru Adam Montana Iran and Iraq are friendlier than I like, but that's an emotional opinion rather than a business one. Iran is in a geographical position to be beneficial to Iraq, and Iraq does have a large percentage of it's population that is sympathetic to Iran, so some buddying up is to be expected and will not prevent or delay a restructuring or revaluing of their currency. Iran is handicapped by sanctions at the moment, so they are of less help than they would be otherwise. Saudi Arabia, on the other hand, is not crippled at all. They are powerful, in good graces on many accounts, and are getting friendlier with Iraq than they have in the past. Since Iran is not the most capable ally to Iraq, does it surprise anyone that PM Abadi is in Saudi Arabia today...discussing trade, policy, and OIL? Abadi is currently on day 1 of a 2 day visit. I am crossing my fingers for some solid progress as a result of the things I've just mentioned. I think we're going to see HCL news quicker than they are letting on. [post 2 of 2]
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4-17-2019 Newshound Guru Adam Montana There was a bit of suspense regarding Iraqi Parliamentary activity today. The Financial Management aspect was pushed off, but I don't see that as a major factor. The other 5 matters were attended to, from what we can tell...5 out of 6 is a huge improvement over what we used to see out of Parliament! This is just another testament to the progress Iraq has made and continues to make. Oil...I know I don't have to harp on this, but oil is a big deal and Iraq is focused heavily. In fact, OIL wasn't even officially on the agenda for today's Parliament votes, yet it was still a heavy matter of discussion. I'm reading into that part. It wasn't even on the official agenda, but it was a major point of discussion. The goal, as stated by all reports, is to get affairs in order quickly. That makes sense to me, and I'm keeping a keen eye on things. To add to that thought, let's consider the current global situations of two other countries that are relevant to Iraq's progression: Iran and Saudi Arabia... [post 1of 2....stay tuned]
4-17-2019 Intel Guru MarkZ My contractor friends in Iraq who are working on the power grid, and whenever this thing gets close they bring them in and update contracts and readjust rates on Qi cards ...well, a number of times over the last few weeks this has happened. There is no changed rate yet…..but in Iraq they are anticipating it. [There is a perfect window coming tomorrow, markets close at noon tomorrow till Monday, banks stay open.] This would be a golden time to pull this off! I am still hearing from all sources that they want it done before Easter...There is a mad dash to get it out the door is what I am being told..
4-17-2019 Intel Guru RayRen98 We received information that the contractors were paid and it was under the new rates. More lower denoms are trickling out on the street and that the new rates are set. Time Will Tell.
4-17-2019 Intel Guru Bruce ...we know that the rates are, I don’t like the word locked and loaded on the screens...I think there is still some flexibility on the rates, but they are on there...rates are going to be good...Also, we are hearing that it is all going down before Easter...I am excited. [post 2
4-17-2019 Intel Guru Bruce Iraq has some legislation that was passed and is going to be enacted tomorrow [Wednesday]... That is a new series of banking laws. The new banking legislation is going into effect tomorrow [Wednesday] ...we are hearing that should be some what of a kick off for everything. ...We had the Finance Minister from Iraq here in the United States I believe over the weekend. They did put some deals together with Master Card and Visa. I think that is important. That is really good. [post 1 of 2....stay tuned]
4-17-2019 Intel Guru Frank26 [via Clare] IS THERE A NEED FOR SOMETHING ELSE?...NO.
4-17-2019 Newshound Guru Kaperoni ...The government needs to...make significant strides towards stopping bribes, payoffs, money laundering and theft. CBI still as far as I know has not implemented Deposit Insurance. The safeguard is an absolute must for investors to bring their money to Iraq. And lastly I believe the CBI needs to accept the conditions of IMF Article VIII to allow freedom of movement of capital. In other words allow investors to get their profits out. These are not all mandatory but are significant enough to stop investors from bringing their capital to Iraq. And after all what we're looking for is significant investment capital to begin to create a private sector. [Post 2 of 2]
4-17-2019 Newshound/Intel Guru Walkingstick [via Clare] THERE IS NOTHING FROM STOPPING IRAQ FROM ADDING VALUE TO THEIR CURRENCY. EACH WEEK THEY ARE PREPARED TO RAISE THE VALUE OF THEIR CURRENCY...EACH WEEK THEY ADD FUEL TO THE FIRE."