Frank26 IMO this is an RI. They will reinstate that rate. I thought they would reach it at a cap but now they’re talking about coming out right away with a fixed rate and that fixed rate might be $3.22 and then the float. That float should be very very small, very very quick because IMO it’s going to reach the cap, boom! Very quickly.
Pimpy Community comment: “July 18th is the next meeting [between WTO and Iraq], they need to RV before then” No they don’t have to RV. People keep associating the RV with the accession into the World Trade Organization…The World Trade Organization doesn’t deal with the exchange rate. They deal with the regulation and transparency of trade between countries. That’s it.
Militia Man Iraq has a project to delete the zeros. The delete the zeros hasn’t happened yet… Iraq doesn’t have an international acceptable tradable currency just yet…
Samson Article: “Who is the new Iranian president, Masoud Pezeshkian?” Article: “Pezeshkian as Iran’s President”
Walkingstick If they float the dinar it will be in a very tight band. If it’s a low rate, if it’s a dollar then they’ll float and it’ll drive the rate up. But if they come out at an RI, reinstatement of $3.22 and then the float, then they’re going to have some serious very tight bands on the float. It will be monitored very closely. It will only allow it to be a plus or minus of 5%. It cannot go any further than that in the float. For example, don’t let it get past maybe $3.50…They will cap it quickly…
Frank26 [Iraq boots-on-the-ground report] FIREFLY: They’re back on TV and they’re talking about the deletion of the 3-zeros…It was a segment of old newscast. The lifting of the 3-zeros was supposed to be done in 2011 and then it was supposed to be done in 2013, then 2016. Then they said it was also scheduled in 2017 and they talked about the lower notes and why they are going to be giving us these lower notes…It was a rebroadcast of old news story. FRANK: …All of this is being explained to you right now because you are so close to receiving this blessing that Sudani promised.
Sandy Ingram The two exchange rates [Official rate and market rate] MUST come into alignment before there can be an increase in the currency value.
Pimpy Article quote: “In the face of the strength of the official central exchange market the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in the stability of the general level of prices…due to the impact of the current dominant official exchange rate factor on the financing of foreign trade imports of 1300 per dollar.” You guys aren’t going to like this but what this guy is saying is they’re very comfortable with the current exchange rate because it’s very strong. It doesn’t sound too much like they want to change it anytime soon.
Militia Man Article: “Prime Minister’s Advisor: Iraq in the process of paying off long-term development loans to the World Bank” It looks like Iraq’s financial situation is solid as they get effectively. She has so many revenue streams coming on board now it will only get better and the World Bank, the IMF, the UST, etc all know it. Hence, the view of Iraq will bring confidence to the largest Banks and Financial Entities in the world. That was broadcasted globally too.
Frank26 Question: “Do you think they’re letting the dinar float into its cap before they release the new rate?” No. You have to release the rate first. Once the rate is released internationally then it can be acquired by the international community. It’ll be used in banks…Once the dinar is out there officially in the international market the friction that the Iraqi dinar is going to cause in the financial market will only cause it to get bigger and bigger and bigger in its value/rate internationally. Inside Iraq it doesn’t affect it – a dinar is a dinar. The rate inside does not move, only the rate outside.
MarkZ [via PDK] … More and more sources are telling me that serious money movement and us moving towards the banks somewhere around the 12th-15th. Noone knows the exact timing but they are certainly preparing lots of bank contacts for that time period , so I think it may speak well to where we may be on that.
