Dinar Observer Daily

Militia Man – Dinar Guru   1300 is halfway between 1460 and 1166.  What good does that do?  How is that alleviating any pain?  Inflation has risen since the 1460s so they’re not getting anything.  It’s not any good   for them.  That “second package” [coming from the CBI] is a key component …they know 1460 to 1182/reverting to 1300 is still not doing anybody any favors…

Pimpy  – Dinar Guru  This is the obstacle standing in the way of the Iraqi dinar and that is they have to clean up their corruption issue.  They have to do whatever it takes to have these restrictions lifted on their currency auctions and their ability to get hard currency…

Henig – Dinar Guru   Article:  “Iraqi delegation arrives in Washington to discuss government measures on the dollar”  Quote:  “Deputy Prime Minister and Foreign Minister Fouad Hussein arrived in Washington at the head of a high-level government delegation”

Pimpy – Dinar Guru  Article:  “Governor of the Central Bank:  We affirm that they have proceeded with the government to enhance confidence in the national currency”  That’s the other issue with Iraq.  They prefer the US dollar per the dinar…You got to get people wanting to use their local currency more than the US dollar.  And you do that by increasing the exchange rate a little more at a time, giving them more purchasing power and devaluing the dollar within Iraq…I think if everything goes smoothly we’re most likely will see another small change in the exchange rate…

Clare – Dinar Guru  Article:  “Iraqi Foreign Ministry: The delegation’s visit to Washington will discuss two basic economic files”  Quote:  “The delegation will hold its dialogues with the American side in Washington, which will focus on supporting Iraq’s monetary policy and exchanging financial and banking support with the aim of strengthening the Iraqi government’s vision of its measures regarding the exchange rate of the dollar,“

Clare – Dinar Guru   Article:  “Iraqi Finance requires government banks to adopt the new exchange rate”  Quote:  “Today, Wednesday, the Ministry of Finance directed the two governmental banks, Al-Rafidain and Al-Rashid, to adopt the new exchange rate for the dollar against the Iraqi dinar“

Pimpy – Dinar Guru  You’re looking at about a 9.6% increase in value [at the 1300 rate] for the Iraqi people.  That’s more purchasing power…we’ll see if the Iraqi people actually feel the increase once the prices start to change…that increase could be so small that it doesn’t do a whole lot to the markets…I do think this is their first increase this year...I’m anticipating a second increase this year.  The second increase is really going to depend on how the economy is going…

Militia Man – Dinar Guru   Today has been a big day…They are telling us they are going to do certain things and this 1300 was one of the first stages.  The second stage is…they’re going to re-prepare the 2023 budget.  In this context the Central Bank governor has stated that’s what’s going to happen…

Pimpy – Dinar Guru  The Iraq dinar exchange rate has changed.  It went from 1450 dinars for every dollar to 1300 dinars for every dollar.  You’re looking at about a 9.6% increase in value…Looking very good.  There is baby step one…just like I said, they’re gonna go up in increments – small amounts a little at a time.

Clare – Dinar Guru  “Al-Alaq thanks Al-Sudani for lowering the price of the dollar: Your response is quick”  Quote “…the Governor of the Central Bank, Ali Al-Alaq, thanked the Prime Minister and members of the Council of Ministers for their approval of the decision to reduce the exchange rate of the dollar.”

Pimpy – Dinar Guru  This is great news.  We love to see the Iraqi dinar exchange rate go in this direction, the right direction.  The Iraqi dinar has increased in value against the US dollar.  What else is all right?  Me predicting that the increase wouldn’t be above $.01.  As a matter of fact I said that the increase will most likely go back to the original rate prior to the devaluation.  I thought for sure they were going to go to 1190 dinars for every dollar but instead they went to 1300 dinars for every dollar.  It’s still a step in the right direction.  

Sandy Ingram – Dinar Guru   Emergency Breaking News Update.  IQD rate changed to 1300 to 1 dollar.  Hold on the fat lady is NOT singing…the Iraqi dinar has been selling at 1470 dinars against the dollar before the New York Federal Reserve introduction tightening control on International dollar transactions.  Yes, this is not what we were looking for…but this is excellent news for the Iraqi people.  We knew there would be a rate change and we would not be happy with it.  We also knew that we may need to wait for higher rate exchange to the US dollar…

Nader – Dinar Guru  I told you [yesterday] morning before everybody, before it comes out even in the news.  I told you the dollar was at 1300…it’s not going to be go to sleep and I wake up and I’m millionaire and the RV happen…it’s gonna float…It’s gonna be 1 to 1 by July…but for now it has to float.  It has to show its muscles…for the next couple of weeks gonna get better.  Watch it floating…

Yada – Dinar Guru   Consider all this time the dollar was being removed from their economy, it was to create a demand for the dinar. The government offices and merchants were told not to use dollar or be arrested. And now with all the contracts from other countries come to Iraq, they will pay in dinar, creating more of a demand hence causing the market value to go up.

Henig – Dinar Guru  Article:  “A foreign newspaper: The Americans contacted the Sudanese more than (ten) times about the exchange rate and the smuggling of dollars”  Quote: “The newspaper said that US officials raised this issue several times with the Sudanese Prime Minister, the latest of which was by the White House Coordinator for the Middle East and North Africa, Brett McGurk, last Monday, and US Ambassador Alina Romanovsky was in close contact with the Prime Minister and held more than ten meetings. The exchange rate was always at the top of her list.“

Sandy Ingram – Dinar Guru   Iraq’s prime minister has dismissed the governor of the country’s Central Bank of Iraq and assigned its former chief of the CBI.  The Iraqi prime minister said he dismissed the head of the CBI in an attempt to assure public anger over a currency crisis that has let to an increase in the prices of goods.

Clare – Dinar Guru  Article:   “After dismissing him, the governor of the Central Bank, the Sudanese hints at a decrease in the exchange rate of the dollar”  Quote:  “The Prime Minister, Muhammad Shia Al-Sudani, relieved the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, due to the continued rise in the exchange rate of the dollar and the bank’s inability to curb it.  Al-Sudani assigned former bank governor Ali Mohsen Al-Alaq to manage the central bank by proxy. The Prime Minister also referred the Director of the Trade Bank of Iraq to retirement and assigned Rabal al-Hamdani…Al-Sudani commented on the changes by saying: “The departments that have been assigned to the Central Bank and the Trade Bank of Iraq possess skills and will work to reduce the rise in exchange rates.“

RVAlready – Dinar Guru  Article:  “Prime Minister Mohamed Shia al-Sudani decided on Monday to relieve Central Bank Governor Mustafa Ghaleb Makhif from his post”   Article Quote:  “In a measure aimed at rehabilitating the Iraqi dinar and restoring its position in the local market, Prime Minister Mohammed Shia al-Sudani took a courageous and correct decision to reinstate former Central Bank of Iraq Governor Ali Mohsen Al-Alaq and dismiss Mustafa Ghaleb Makhif, who held a legal position in the bank…Observers are encouraged by this measure, which could put things back on track.”   Hopefully, this guy will straighten the CBI out.   RV comin down the track.

Nader – Dinar Guru  They said the 1st maybe the 2nd something will happen.  I don’t know what it is.  I wish I know what it is but something is happening.

Samson – Dinar Guru  Article:  “Shafaq News/ The Iraqi ministry of Interior announced the arrest of a group of forex traders on Saturday...A source told our Agency that the security forces were tracing a “gang of forex traders” involved in “manipulating the market and tampering with the US dollar’s exchange rate against the Iraqi dinar.”

Sandy Ingram – Dinar Guru  Urgent Urgent news…it is no longer just one or two stories about the money situation in Baghdad. It has become a major unique report news on the International feeds coming out of Iraq…it appears the United States government is placing checks on currency auctions…the check and balances system are hurting Iraq’s public finances.   [Post 1 of 2]

Sandy Ingram – Dinar Guru   Iraq is facing a deepening hole in its public finances because of a crackdown on corruption and dollar smuggling…The Iraqi government depends on the auctions to convert dollars…they sell oil in U.S. dollars and then they turn around and change it into the Iraqi dinar for the Iraqi dinar economy…the problem Iraq is facing now is Iraq does not have enough Iraqi dinars and because of this they do not have enough money to pay government workers salaries and other obligations.   [Post 2 of 2]

Firefly – Dubai wants to make Iraq like a trading infrastructure investment site – where Iraq is like a hub…this would be a tremendous boost to the Iraqi economy. FRANK:  Isn’t that something?  Dubai, the filthiest richest country in the world wants to make Iraq their financial hub.  Oh my gosh, rich people only hang around with rich people…Do you really think that they would make such an amazing enormous investment in your country at a program rate? …trust me they know what is happening with your monetary reform and they want a piece of it.

Henig – Dinar Guru  Article:  “How did the US “shock policy” affect the price of the dollar in Iraq?”  Quote:  “A report published by the American Wall Street Journal today, Friday, shed light on the dollar crisis in Iraq and the accompanying rise in the prices of food and imported goods…The newspaper quoted US and Iraqi officials as saying, “The Federal Reserve began last November to impose stricter controls on Iraqi commercial banks’ dealings in dollars, in a move aimed at curbing money laundering and illegal access to dollars to Iran and other countries subject to severe sanctions in the Middle East.“

Clare – Dinar Guru  Article “Al-Rashid Bank begins selling dollars to travelers through the Baghdad International Airport branch” Quote “On Thursday, the governmental Al-Rashid Bank began selling dollars to travelers through the Baghdad International Airport branch, at an amount of (5000) dollars per passenger, at a price of (1470) dinars per dollar.”

Militia Man – Dinar Guru  With all these convergences going on in Iraq gearing to do an exchange rate change I thing what we’re going to see is these convergences come together in a very very short period of time because of…the need for the hydrocarbon law, Article 140, Sinjar agreement, all of these different things are coming together.  The 2023 budget being next week, the World Trade Organization have had meetings today that included many countries not only Iraq , they’re all waiting on the exchange rate.

Sheila – Dinar Guru   …”they can now send money electronically and internationally just this week. From France to Iraq with no problem”  …Is this a sign?]   I absolutely believe that is a sign. I hear a delegation from Iraq has been here a week to work on putting the rate live in the system. And we have been over there in Iraq working on the rate to go live there as well. I hear the rate will be live on the 29th.  …You cannot trade on the NASDAQ with the ISX without having a rate. And that is the whole purpose of the delegation being over here…and at this point nobody should believe this wont happen until 2024…. Pay attention. We are all at the right place at the right time.

Samson – Dinar Guru  Article:  “The Iraqi dinar pays the price.. Washington cuts off the dollar smuggling route to Iran“ Putting a halt to Stealing USD.

Nader – Dinar Guru  Today for the first time since 20 years my mom is able to receive money directly from bank to bank.  What happened is, mom needed some money…I was in France.  I heard they accepting an electronic payments.  So I sent money to my mom from my bank in France through Iraq and she received it this morning!  I sent it yesterday morning and she received it this morning.  It’s amazing. [post 1 of 2]

Nader – Dinar Guru   I know it’s not a new thing but…before we’re not able to do that.  Now we are able to do that.   What’s weird is I’ve been watching the exchange rate.  The exchange rate 1670/1650 but when I sent the money it was only 1460…just like the normal rate. That’s good news.  Something has happened.  Something has happened tell you the truth. [Post 2 of 2]