Dinar Observer Daily

Clare – Dinar Guru  Article:  “The International Monetary Fund: the reserves of the Central Bank of Iraq will rise to 100 billion dollars“

Pimpy – Dinar Guru  Article:  “Iraq is looking forward to a development leap after turning the page on Kuwait’s compensation”  Iraq is done with Kuwait…this opens up a ton of doors for Iraq…it’s a…huge positive step towards any real major changes to the revaluation of the Iraqi dinar…  Quote:  “we are expecting a resolution from the United Nations Security Council at the beginning or this year to remove Iraq from the problems of Chapter 7…and to get rid of more than 40 resolutions imposed on it because of the Kuwait War…getting rid of article 7 opens up great opportunities for Iraq to integrate into the global community.”  [Post 1 of 2]

Pimpy – Dinar Guru  …The UN Council removed them out of Chapter 7 but they still left on all the damn restrictions.  What good was it?  They still needed some of these resolutions to be removed…They have now paid the last remaining balance of the debt owed.  Let’s see if the United Nations moves quick enough… Quote:  “the composition file was finally closed after Security Council resolution 2621 of 2022.”  They are done people.  We’re just waiting to see what it is the United Nations does.  [Post 2 of 2]

Mountain Goat – Dinar Guru   The IQD from Iraq…MUST be reinstated in order for Iraq to progress forward with any success to the global markets if this is what they truly desire and they tell us this is where they want to go. But they will have to overcome the puppetry of Iran first. This RV journey will end and I can…see the road ahead. I can see the end point now and it is not long off. The pressure is building and now even many more economists are now pushing for the FOREX reinstatement...

Clare – Dinar Guru  Article:  “Al-Mandalawi: Quick and decisive measures to stop the rise in the dollar exchange rate”  Quote: “To protect citizens and prevent this from being reflected in the Iraqi markets, the measures that will be taken by us and by the prime minister and the central bank will be quick and decisive in stopping the escalation in the dollar exchange rate.“

Pimpy – Dinar Guru  Article: “The Central Bank launches an electronic platform for buying and selling the dollar next month”  This is going to probably alleviate a lot of the corruption involved with the currency auctions.  There’s no guarantee…but it should…the more they become updated…the less likely we have of corruption.

Breitling – Dinar Guru   What’s Iraq looking at?  They’re looking at the markets – where can they get the most customers and that’s it.  They have two things in front of them.  Adding value to their currency and where can they get the most customers.  So they’re looking at the GP2 and IPEF.  They’re looking at 62% of the worlds population that is part of those trade groups and 40% of the world GDP.  They’re going to build a policy based on those numbers.  That’s it. 

Kaperoni – Dinar Guru   The dinar has no restrictions. The banking system remains under IMF Article XIV…Iraq still needs to meet some compliance issues and receive approval from the IMF in order to move to IMF Article VIII…

Pimpy – Dinar Guru   Article:  “Parliamentary legal hints at an “emergency” session to approve the 2023 budget”   If this thing can somehow get approved by Al-Sadini and then the House of Representative takes a look at it and [if] everybody’s pretty happy, you can see an emergency session be called in and people vote on it right away.  The sooner the better…

Clare – Dinar Guru  Article: “Planning: Al-Sudani issued directives to address the effects of changing the exchange rate of the dollar” Quote:  “the Ministry of Planning revealed the issuance of directives from Prime Minister Mohamed Shia Al-Sudani related to addressing the effects of changing the exchange rate of the dollar…the effects of changing the exchange rate are not all negative,” stressing that “there is no agreement, whether in the House of Representatives or in the Central Bank, to change the
exchange rate“

Pimpy – Dinar Guru  Article: “The talk of the exchange rate invades the Iraqi sessions…and the currency auction is the window for whitening the dollar”  We all know there’s lots of individuals who are politically connected and pick up on information they most likely shouldn’t have.  There’s been a lot of meetings with the governor of the Central Bank of Iraq.  There’s no doubt they’ve been talking about changing the Iraqi currency… [Post 1 of 2]

Pimpy – Dinar Guru  This article keeps touching bases on a group of speculators who continue to try…to drive the value of the dollar up while driving the value of the Iraqi dinar down…Why would they do that?  Is it possible these people know there’s going to be a change in the exchange rate…?  So by stirring up all kinds of rumors…you can get more Iraqi dinars for your dollar...Is it possible some very corrupt people are trying to buy the Iraq dinar for cheaper dollars knowing in advance that their rate might change?  [Post 2 of 2]

Clare – Dinar Guru  Article:  “The application of international trade exchange for the Middle East transforms Iraq into an “electronic financial exchange center”  Quote:   “The pioneering services will provide new horizons for the Iraqi market in ten foreign currencies, including the US dollar and the Iraqi dinar.”

Militia Man – Dinar Guru  Article:   “The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars”  The amount of funds being recovered to Iraq from corruption is staggering in totality. The trillions of dinars being returned will support their exchange rate internationally.

Pimpy – Dinar Guru   Yes, I hear there’s still more chitter-chatter about the exchange rate and yes there’s a lot of misinformation still going on out there about the Iraqi dinar…the full exchange rate being reinstated – that’s not the case.  The talk…is about them going back to the old rate of 1199 per dollar.  The Hydrocarbon Law – has not been signed…It was agreed upon in 2007 but…the Iraqi Supreme Court struck it down…and they have been renegotiating…The statement that the whole world is pushing/forcing Iraq to change their exchange rate is inaccurate.  Countries don’t usually get involved with people’s exchange rate unless you’re trying to manipulate them and that’s not the case with Iraq.

Kaperoni – Dinar Guru  They’re talking about increasing the dollar sales through the auction which will raise the value of the dinar back to what it was a year ago. Around 1170 to $1.

Clare – Dinar Guru  Article:  “The talk of the exchange rate invades the Iraqi sessions..and the currency auction is the window for whitening the dollar” Quote:  “The talk of the exchange rate of the dollar has become the most prominent one being circulated by Iraqis who are disaffected by the continued escalation of prices.”

Pimpy – Dinar Guru  Article Quote:  “Parliamentary Finance announces the completion of the touches of the budget and its transfer to the Sudanese office.”  Now that they have it and all the final touches are done, they handed it out to the House of Representatives.  Even though they are on recess at the moment you could see a scenario in which if they have an opportunity to go ahead and pass this budget before the end of the year they will call an emergency session and vote on that sucker.  It’d be a great way to start the new year.

Nader – Dinar Guru  Article:  “Sunday, the Parliamentary Finance Committee announced the completion of the final touches of the budget and its transfer to the Prime Minister’s Office…”

RVAlready – Dinar Guru  …If, indeed, their currency has depeged, we will have to see what the market thinks of their gold reserves, foreign currency and bond reserves, and GDP.  It will take a bit for a new value to be established...Don’t be surprised if it does not jump right away.  Iraq estimated 10 days for the price to stabilize. I’m guessing it should settle by December 20th…I’m hoping for $1 or $1.50 by December 20. We will see what happens.

Samson – Dinar Guru   Article:  “Central Bank: The exchange rate of the dollar will be returned to normal within two weeks”  CBI taking actions

Sandy Ingram – Dinar Guru  Kuwait is Iraq’s neighbor… they have the highest value currency in the world.  How did Kuwait get to this status?  For one the Kuwaiti money is hard, very hard, difficult to come by.  It is not plentiful like the Iraqi dinar or even the U.s. dollar.  Secondly Kuwait too is a an oil rich nation…

Paulette – Dinar Guru  I believe that the closer to the end of this year that Sudani’s GOI passes the budget, the greater likelihood we will see the CBI move to “restructure” the currency.  Realize, this “restructure” must also come with a significant rate change.  In country of course but a significant change nonetheless.  I am hopeful this will be 1.46 IQD to 1 USD.  I will certainly love to see $0.685 cents to 1 IQD going into January and then will sit tight knowing the RI is close behind.

Clare – Dinar Guru  Article:  “The “Finance” expects the Iraqi government’s vote on the budget: Parliament’s approval of it will take about two months”  Quote:  “the Iraqi Council of Ministers will vote on the draft general financial budget law for the year 2023 at the end of this month.”

Clare – Dinar Guru  Article “Central Bank: The exchange rate of the dollar will be returned to normal within two weeks”  Quote “…the exchange rate is still disciplined and will be returned to normal within two weeks, no more”

Kaperoni – Dinar Guru  I have stated numerous times the auctions are twofold, the first is to provide dollars to pay for imports for the country, and the second being to control the exchange rate by a balance between dinars and dollars.  This new action by the central bank will put more dollars in the auction weakening the dollar and strengthening the dinar which Parliament has been talking about for several months because of the effects on the poor.

Paulette – Dinar Guru  Sudani’s GOI continues working and I believe will pass the Budget in December…It then goes to Parliament who will likely read it after reconvening approximately 1/07/23…This will be the “1st Reading”...It will then go to Parliament’s Finance Committee for “study and observations”…this often can take 30 days or more...Parliament then does the “2nd Reading” …changes may have to be made which legally requires it go back to Sudani and his GOI to make changes...Upon return to Parliament, if all is agreed by Parliament, it can go for third reading and vote which is usually done “line item by line item”

Pimpy – Dinar Guru  When it comes to Iraq we’re always taking one step forward and three steps back…There’s problems with the currency auctions…they just can’t seem to get it together...the Federal Reserve has been auditing the currency sales…and they’re not liking what they see.  Some of the biggest issues that foreign investors and the International community had with Iraq – Money laundering and financing of terrorists…at least they’re catching these things…working with the United States to fix the issues…

Nader – Dinar Guru  The CBI or the government… didn’t make a decision yet to support [the dinar] with anything.  It’s detached from the dollars but not completely.  It should be detached by the end of this week or next week the beginning…the government have to support it with whatever they have reserve, gold…put if back on petroleum dinars…they have to attached it to something else.  It’s going to take a couple of weeks.  [Post 1 of 2]

Nader – Dinar Guru  …It has no support.  That’s why you see the dollar going up from 1460 to 1551 and it might get to 1552, 1553.  You’ll see in a couple of weeks it going back…things will get better.  You will see…The dinar needs some support…attached to some assets…the dinar will go up up quick.  It will be a dollar…I want to see 1160/1170 for now.  If it goes in that range I’m sure it’s gonna go quicker after that.  Right now we’re waiting for it to go in that range… [Post 2 of 2]