Frank26 [The new ATMs] are everywhere now. It’s not hundreds, it’s not thousands, it’s tens of thousands of them. They are everywhere that an Iraqi citizen can walk to. They are at their hookahs…mosques, barer shops…street..banks…corners, they’re everywhere…There’s going to be a massive rush going into the banks.
Kaperoni Question: “What happens now that the auctions are soon to be over? What does this mean for the Dinar holders out there Kap?” It means monetary policy is changing after 20 years to reflect the economic changes in Iraq. We’ll have to wait and see what happens.
Nader I know they working on the exchange rate from here to the 8th of July. We will have some good news I hope.
Walkingstick $4.9 billion for a pipeline in the budget…Didn’t you say it was 6.5 billion dinars? ‘Yeah.’ And you’re saying it equals $4.9 billion? ‘Yeah.’…They told the world…6.5 billion IQDs is equivalent to $4.9 billion…6.5 divided by 4.9 it comes out to 1.32 or $0.76…You don’t have to think anymore after this…That’s billions to billions not trillions to millions. That’s a rate change…You’re telling the world this.
MarkZ [via PDK] Not much news overnight…but I do not take that as a bad thing…There are interesting things happening in Iraq. Things are definitely pointing to something sooner rather than later.
Sandy Ingram We are looking for the Development Road Project to eliminate the IMF’s concerns over revenue outside of the oil industry and increase Iraq’s GDP to the point of increasing the currency’s value against the dollar as we have seen happen with the Mexican Peso against the USD…Iraq is working towards the goals of the IMF…
Frank26 Article: “Iraq is preparing to establish a project that will change the oil map.. Will it affect energy producers?” If you change the oil map, you change the exchange rate/the value of the currency of Iraq. Quote: “Iraq’s financial budget for the current year included the new pipeline project at an amount estimated at approximately 6.5 billion Iraqi dinars ($4.9 billion)” I don’t need to go any further than that…1.32 is what the citizens of Iraq are potentially in a position to receive. This article proves that there’s a different rate in the budget…
Militia Man Article: “Iraq is preparing to establish a project that will change the oil map.. Will it affect energy producers?” Quote: “Included the project of this new pipeline with an estimated amount of 6.5 billion dinars or $4.9 billion.” Think about what they just said, 6.5 billion Iraqi dinar equates to $4.9 billion…It is like saying the dinar is worth 1.32 to $0.76…That to me will be considered a REER.
Clare Article: “Iraq is preparing to establish a project that will change the oil map.. Will it affect energy producers?” Quote: “Iraq’s budget for the current year 2024 allocated an amount of up to 4.9 billion dollars to establish a pipeline extending from Basra in the far south of Iraq on the waters of the Gulf, to the city of Haditha, located in the far west of Iraq within the Anbar Governorate”
MarkZ [via PDK] I do not think we will see the Iraqi dinar float. I believe they have been clear they want to retain value and peg it to assets. But, I could be wrong.
Mnt Goat ..the “icing on the cake” for today’s news…It’s about the huge ATM installation and testing going on in Iraq. Why is this so important? We were told by the CBI not too long ago the significance of that the ATMs role will play in the Project to Delete the Zeros…its all interconnected…To get petty cash they will need the ATM machines. At this time the petty cash will be set to the newer lower denominations post delete the zeros.
