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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 1-22-2019)
1195.002 IQD to 1 USD
- Rates Are Within IMF 2% Rule: YES
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1-22-2019 Newshound/Intel Guru Mnt Goat [Will by deleting the zeros it makes the currency stronger , therefore making our investment more valuable?] Yes, by deleting the ZEROS this will make the currency stronger thus also our investment. On the surface it looks like your 1,000 dinar note would only become worth only 1 dinar. But what most forget or don’t know is that the two currencies will “coincide” together for up to 10 years. That means the older 3 zero notes and the newer lower category notes will both be in circulation at the same time. [post 1 of 3....stay tuned]
1-22-2019 Intel Guru Frank26 [via Clare] The USD is no longer wearing the same suit that supported a PR (Program Rate). The USD is being used to SUPPORT the lifting of the 3 zeros...The USD was used like a cane, a walker, for the IQD. The IQD is being used to pay it's bills at a rate of 1-1 ...not for a PR! For the lifting of the 3 zeros that gives power to the dinar. The IQD can now stand next to the USD. 5.5 billion in Iraq... No longer used to pay bills and it stands next to the IQD...It stood next to the IQD to support it...Now the USD is pouring in to invest in Iraq.
1-22-2019 Newshound/Intel Guru David M. Witty Iraqi Speaker of Parliament says next meeting will hold vote to complete cabinet formation & vote on 2019 national budget.
1-22-2019 Newshound/Intel Guru RVAlready At the moment, I can see no reason to delay the RV, and lots of reasons to go ahead immediately. After all, everyone says they are ready, so they should do it right now.
1-22-2019 Newshound/Intel Guru Mnt Goat ...the reinstatement of the Iraqi dinar should have taken place over the weekend and was held up again due to NSA security reasons. I have talked to my CBI contact and I am told that they are getting tired of this postponement and really need this currency to move ahead with the reconstruction phase. They are already a year late in their five year plan 2018-2022. The good news is there is still 10 days remaining in January and this month is the best opportunity for the CBI to do it for accounting reasons. Their fiscal accounting year coincides with the calendar new year unlike the western world that begins on Oct 1st.
Get caught up on last night's updates below and if you are not a dinarguru.com alert list yet now is a great time to do it...It's free as always and only takes a sec...If you invested in the dinar and spend time on the site you don't want to miss something very important because you're not on the list. Click here to get on the list now.
1-21-2019 Intel Guru RayRen98 ...The Budget is "supposed" to be voted on during Tuesdays' session. Members are dissatisfied with Mahdi's progress during his first 100 days.
1-21-2019 Newshound Guru MilitiaMan We just watched a few of the largest firms in the world have a meeting with Alak today. All in the same room. ...Iraq is ready and they had to get on the same page for whats coming now, as it will be different than before. imo.. The meeting with those who dot the I’s and cross the T’s were at the central bank today and word is there was cargo leaving the banks at night.. Makes one wonder at this present time why? Don’t forget, the central bank issues cash... all imo.
1-21-2019 Newshound/Intel Guru Mnt Goat [Is the CBI saying replacing the larger 3 zero notes with new currency?] If they remove three zeros the IQD it will be replaced by a new lower category currency thus when the CBI reinstates the currency they will have to raise the rate. But they do not need to get all the 3 zeros notes changed over. In fact the plan does not call for all of them either. Once the reinstatement occurs they told us it will take up to 10 years to get all these 3 zero notes out of circulation. So the reinstatement is also pivotal in this process.
1-21-2019 Intel Guru Frank26 Article: "The supervisory and auditing bodies meet in the Central Bank of Iraq" Quote: “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price waterhouse Coopers)." INTER .............. NA ...................TION ............... AL !!!
1-21-2019 Newshound Guru MilitiaMan Article: "The supervisory and auditing bodies meet in the Central Bank of Iraq" Quote: “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price waterhouse Coopers)." Alak is sitting at the head of the table and has everyone's attention...The attention of three of the largest firms in their line of work in the World. They will need to coordinate with each other from here on out. We should all be smiling about now with the timing of the meeting. The numbers not only on the new notes will have to be accounted for and well managed just as contracts will be when during and after the (RD/RI/RV) process of completion of the Monetary Reform and the re construction of the country...IMO.