Governor al-Alaq went on television Tuesday with the clean public denial. No change in the exchange rate. Foreign reserves strong. The CBI is not, in his words, studying the question. It is the 5th time he has said this in 6 months: November, February 12, February 25, April 16, May 19…The repetition is the signal…Al-Alaq confirmed a meeting “in the coming days” bringing the CBI together with the US Federal Reserve, US Treasury, and Oliver Wyman, framed as the path to “transition to dealing in other foreign currencies for banks that have completed all the required requirements.” Read it as multi-currency-settlement readiness…Al-Alaq’s 5th public dinar revaluation denial in 6 months runs interference until Treasury says go… :Reset Intelligence
