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( Updated: )
Official Central Bank of Iraq (CBI) Dinar Rate:
1190 IQD to 1 USD
Dinar Market Rate:
(CBI last reported 9-6-2020)
1218.053 IQD to 1 USD
- Rates Are Within IMF 2% Rule: No
Dinar Guru "RV" Meters
( Updated: )
Dinar Gurus who feel Dinar will RV within days...
Dinar Gurus who feel the Dinar will NOT "Change" until certain "things" are accomplished...
Dinar Gurus who feel the Dinar will FLOAT "slowly" upward instead of RV...
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9-21-2020 Intel Guru RayRen98 Reportedly, Parliament returned the draft budget law for the year 2020 to the Ministry of Finance to reconsider some items and possibly add new verbiage.
9-21-2020 Newshound Guru MilitiaMan Article: "Electricity announces the payment of salaries of contract holders and daily wages" Quote: “Minister, which resulted in securing the salaries of the two tranches and transferring their allocations from the investment budget to the operational one. He disclosed that "their salaries will be paid for the month of March today, Sunday, provided that the rest of the months will be paid with retroactive effect after the budget is approved“ The budget agreement appears to have a retroactive mechanism to pay salaries. They also let it be known they can adjust monies from the investment side of a budget to the operational side. Take note this is not about the 2021 at all. March is in 2020 for a retroactivation to be applicable. This is slated for today... Rate before budget, imo... international continuity must mean that the two entities are in agreement at which they’ll be working and being paid. Imo.
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9-20-2020 Newshound/Intel Guru RVAlready Article: "The government returns the budget law to the Ministry of Finance to reconsider and add new paragraphs" Hopefully, CBI raises the rate without waiting for parliament, cause parliament is stuck on dead slow. They just returned the budget law 2020 to its source without a reading. ...They have to have this passed into law in 9 days, and they are sending it back without a single reading. Guess it will get all three readings on Sept 30.
9-20-2020 Intel Guru Footforward [When is the swap supposed to happen or did it?] my sources say it hasn't happened yet. I'm not sure we will publicly know when it does happen. But IMHO, they wouldn't be doing this if we were years out from an RV. Iraq is past the point of just needing help. They need to be able to help themselves. Which means they need to add value to their currency. Look at how Trump has told countries to stop using the USD. Now he's willing to do a currency swap with Iraq? You have to ask why. There is only one reason to do this. Without an RV, Iraq is a has been nation. [Hopefully we see the RV now] I believe it's coming.
9-20-2020 Newshound Guru Pimpy ...the day that the rate change happens there's not going to be any fanfare. There's not going to be any notice. There's not going to be any news. You're just going to wake up one day and it's there. That's what they did in Kuwait...
9-20-2020 Newshound Guru Jeff ...everything is looking really good right now but everything that...has to do with money nothing has been started yet. Why? What are we waiting for here? It's Iraq's economics and really the movement of money. It's a game of dominoes...the first domino that has to fall is that the rate has to change. That's what they're showing you. The rate has to change. Kurdistan and Baghdad can't even reach their agreement, they can't even start the approval process of the 2020 budget, they can't even approve the reforms, they can't even start those 8.2 billion dollars worth of agreements...it's a game of dominoes waiting on the rate change...I'm excited right now. I really do feel this is the perfect storm. This storm could not be more perfect for Iraq to actually change the rate...everything that has to do with money is literally on standby/on hold. It's waiting for something...
9-20-2020 Newshound Guru Kaperoni I believe Iraq will follow the direction given to them some years ago in the IMF Article IV Consultation... Accept Article VIII move from the peg to a float. Pass needed laws creating a suitable and favorable business climate for foreign investors. I do not believe in a significant overnight RV of the dinar. It is not technically possible with over 42 trillion dinar in Iraq outside the banking system known as "chunky."
9-20-2020 Intel/Newshound Guru sandyf ...deleting zeros from the currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted, for example deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from the old currency. - A Redenomination. The term "strengthen the national currency" is regularly used by central banks and usually means they have to try and stop the currency from further weakening. A redenomination means a change in the monetary unit and any such changes must be approved by parliament. Normal timeframe is around 2 years.
9-20-2020 Intel Guru RayRen98 Weekend UPDATE: Parliament stated that the budget did not arrive Saturday as promised for its first reading citing a violation of the Constitution. The agency on corruption has arrested several top level banking officials. The budget is now promised to arrive to Parliament on Sunday. For many decades not attained, historic agreements completed by PM Al-Kadhimi and his administration will now lead to agreements on the budget, salaries, oil and gas.