RayRen98 WAS JUST INFORMED BY A 3 LETTER… IF NOTHING CHANGES, BANKS WILL SEE LIVE RATES IN THE MORNING. TIME WILL TELL.
Frank26 Question: “If the rate is $3.22 and you go to the bank and exchange a 25,000 note in American dollars how much will that be?” $3.22 times 25,000 friend. [Note: Use the Dinar Guru dinar rate calculator at the top of this page to easily calculate how much USD per Dinar at different possible rate.]
Jeff Delete the zeros has nothing to do with the exchange rate. Deletion of the zeros simple means removing currency notes with multiple zeros on them.
Sandy Ingram Iraq will have the fifth largest economy in the Arab world in 2024 according to the CEO World, a leading business magazine…Iraq’s GDP will be $265.9 billion in 2024…This is excellent news for IQD investors.
SkyWalker Currency value and an exchange rate are two totally different things and are determined differently. Changing the exchange rate does not make value. Value is made by the monetary policies that CBI and Iraqi government have put in place…Now, the inflationary zeros will be removed because the government has met the requirements of the CBI and made an economic environment that will support both the value of the dinar and keep the economy humming along. Value through policies must be restored first which will be represented with new notes being lower denominations… Meaning the three zero notes will be physically removed from circulation and the lower notes without the extra zeros will be issued. Then and only then the exchange rate reflects an increase in the relative price of the Iraqi dinar compared to the price of another currency.
Frank26 Once they remove these 3 zeros from the exchange rate…it’s going to gain in the new value. But that’s not where they wanted at the RI. They will float it and they will re-denominate and then it will hit an RV as it floats from an RI back to the RV.
MarkZ [via PDK] There is so much going on this morning. There are all these rumors that they have the rate – but we can’t go to the bank yet. So take them with a bit of salt…
Kaperoni Community Comment: “Does this have a negative, positive or neutral effect on our investment?” Article: “Mazhar Muhammad Salih: Our cash reserves are the highest and there are no fears of the dollar rising” This is good news.
Clare Article: “Government advisor reveals Iraq’s gold reserves have risen to 150 tons… and the reason for its high price“ Quote: “Gold is one of the most important safe investment havens in the world, which is resorted to by the investment portfolios of central banks and various investors”
Jeff There was a perception out there that the rate was going to change before the July 18th accession date to the World Trade…This was their 3rd accession World Trade meeting. There’s a 4th meeting coming in Q1 of next year of ’25...Many thought Iraq would become a full member as of July 18th. None of that happened.
Militia Man They’re going to delete the zeros. You don’t create value by deleting zeros and implementing small category notes. You can’t take 1310, which is .00076 to the dollar and just delete the currency and implement it without changing the value. It doesn’t work that way… .0007 is far less than a penny. You guys settle down. Pay attention…
Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV saying Iraqis are keeping 90 trillion dinar at home hoarding them from the banking system still. We say make the dinar worth something and we will bring them in. FRANK: Why does the CBI want the 3-zero notes back? Because they need to replace them with the lower notes. Why are you getting lower notes? Because you’re getting a new exchange rate.
tishwash So they have released another Gazette but still nothing on the budget schedules…
