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Official Central Bank of Iraq (CBI) Dinar Rate:
1190 IQD to 1 USD
Dinar Market Rate:
(CBI last reported 4-22-2019)
1195.752 IQD to 1 USD
- Rates Are Within IMF 2% Rule: YES
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4-23-2019 Newshound/Intel Guru Mnt Goat There is lots of chatter about the Dong currency and whether it is planned to revalue. Remember Vietnam was considered on the “underdeveloped” country list of the IMF and so it is one of these countries they want to bring forward because it has great potential...The State Bank of Vietnam has been giving us signals for almost a decade now that they plan to get rid of 3 or up to 4 zeros from their Dong currency. So, we know something is up. But what we don’t know is just exactly how they plan to do it. [post 1 of 2....stay tuned]
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4-22-2019 Newshound/Intel Guru Mnt Goat Article: "PARLIAMENT WILL VOTE NEXT TWO WEEKS ON INDUSTRIAL CITIES LAW" Quote: "...this law is important and it is necessary to be resolved during this stage in order to provide the appropriate environment in the provinces for all industrial companies for the purpose of employment and activating the private sector, noting that the LAW EXEMPTS COMPANIES FROM FEES AND CUSTOMS." ...being exempt from fees and customs is part of what companies need to come in and invest in Iraq. So this is a good start. But there is also an investment law that needs revisions and to be passed also.
4-22-2019 Intel Guru MarkZ [Are your contacts big dogs or little pups?] My contacts are both...I like the little pups...but most of them are BIG DOGS. When this is done I hope to share their names and they will just blow you away. ...Quiet is sometimes just what the doctor ordered...I did hear things will roll out today and tomorrow...This afternoon is expected to bring a whole lot of big news. There was a tremendous amount of movement over the weekend. The question is what will we see later today? [...we are past the point of no return and it is looking to be a very busy week] This is very similar to what I heard as well...we are so very close… [post 2 of 2]
4-22-2019 Intel Guru MarkZ [via PDK] [...can we say that we are waiting 4 the release of Lower Denom's and will they be released today?] A fair amount of LD’s have already been released, …I am waiting for more news from Iraq...there is a whole lot to watch for... [Will the new rates show overnight or in the daytime?] That is what we were told for years…I believe with this new banking system it could be a daytime event...I would not be surprised to see rates change at any time...they have so much more transparency and control now… [post 1 of 2....stay tuned]
4-22-2019 Newshound Guru MilitiaMan They told us...that Iraq has the full resources from the Saudi Arabian Kingdom to further their progress in re construction and oil exploration in the Sahara. This supports they are waiting on an international rate to be exposed for them to be secure in that investors are taken care of in kind, imo. They want safe and secure, a level playing field if you will.
4-22-2019 Newshound/Intel Guru Mnt Goat The news today is mostly all about getting investors in Iraq. They know they need to kickstart their economy somehow but can’t just seem to be able to do it with any level of success. But the news today suggest maybe they might move ahead finally in the coming weeks and months. There are still no signs from the CBI of an urgent pending reinstatement of the dinar any time soon... Article: "POST OF GOVERNOR OF THE CENTRAL BANK OF IRAQ" Quote: "It is noteworthy that some sources said earlier, that the post of governor of the Central Bank will be a coalition led by Moqtada al-Sadr." I am seeing that Sadr is NOT pleased with the efforts of the CBI and still feels it is enormously corrupt and not doing all the necessary actions too deal with it. Sadr also wants currency reform and wants it NOW.
4-20-2019 Intel Guru Delta Article: "The opening of the first Iraqi bank in Saudi Arabia and cooperation includes security and intelligence" VERY HUGE...NO WAY JOSE WITH OUT ARTICLE VIII...
4-20-2019 Newshound Guru chattels There is no transparency in Iraq or about any revaluation of it's currency. If the dinar is to have any sudden increase in value then we will not be told in advance and no one reading the news will be able to reliably anticipate such, IMO.
4-20-2019 Newshound Guru larrykn Boy with all these articles coming out about stability I see Iraq moving again in the right direction. I see a lot more they need to get done but they are moving in the right direction. I think once they feel they are comfortable with were they are at, then they will do it...no time lines just when. I would like to see the banking improve, stability improve,, the government improve , investment coming in. these are a few of what I like to see happen.
4-20-2019 Newshound Guru Adam Montana The two largest borders are Iran and Saudi Arabia. Both countries present opportunities for oil delivery... in order to sell their oil, they must deliver it. In order to deliver the oil, it must get to the sea, unless they are to limit their market to the 6 countries that border them... and why would other oil rich countries pay a premium to Iraq? They would not, and will not. So it's in Iraq's best interest to have great relationships with it's neighbors, and it's important that the global market approves of these relationships. Iran and Syria are questionable allies...but Saudi Arabia is a solid partner. This is why I'm excited to see Iraq buddying up with Saudi Arabia, and it's even more exciting that it's not exactly clear what Saudi Arabia has to benefit at this time. I think we all know, or can use our imaginations. ...Saudi Arabia has a longstanding position of “middle”...not anti-Iraq, but not the opposite either. Why, now, are they opening their arms? Maybe someone is expecting a change, and they want pole position. [post 2 of 2]
4-20-2019 Newshound Guru Adam Montana ...one quick clarification - earlier this week I said PM Abadi was in Saudi Arabia on business. Obviously this was a mistake, as the current Prime Minister of Iraq is no longer Abadi. Nonetheless! The actual PM of Iraq, Abdul Mahdi, was indeed in Saudi Arabia - and the resulting news is a bit of a present, if you ask me. As I was getting ready to post this, a perfect article was posted. The focus is heavily on Iraq, the benefits to Iraq, and not much else. In what world is that a deal we expect to see from the Saudis... are they suddenly charitable people operating for the sole purpose of World Peace and charity? I don't think so. Therefore, the equalization simply isn't being mentioned. Article: "Historical agreements between Iraq and Saudi Arabia" ...Saudi Arabia is important to Iraq. ...Iraq has 3 major countries that border it, and only one actual connection to water. Aside from that small bit of beach...Iraq is landlocked. [post 1 of 2....stay tuned]
4-20-2019 Newshound/Intel Guru Mnt Goat Article quote: "The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars." This is really the only article worth showing today of any real value to us as investors. So we know that these other smaller category notes such as 25, 50, 100 etc.. are not NOT yet launched. ...They are NOT yet out. ...this article is proof enough that the only smaller categories out are still these 250, 500 and 1000 notes.