Iraqi Dinar Guru opinions 4-25-2022
Iraqi Dinar Guru opinions 4-25-2022
4-25-2022 Newshound/Intel Guru Mnt Goat Article: “THE MINISTRY OF FINANCE CLARIFIES ABOUT RESTORING THE DOLLAR PRICE TO 120 THOUSAND IN THE 2022 BUDGET” The CBI does not intend to reduce the exchange rate of the dinar, thus raise the value of the dinar back to the pre-December 2020 rate. Why would they even do this change back to 120 if they already know of a plan to significantly raise the rate (not the value) of the dinar and conduct the project to delete the zeros?… We know the VALUE is already in the dinar only they are suppressing the nominal rate and holding back the reinstatement until they can see a stable government.
4-25-2022 Intel Guru MarkZ [via PDK] [What is the anticipated rate of the Dinar?] I am hearing in country a rate of about $3.91. We should expect between $6-8 on a contract rate with the “Oil For Dinar“ Program…that is what I am hearing…
4-25-2022 Newshound Guru Pimpy Article: “America warns of an obstacle impeding the development of the relationship between Baghdad and Washington” Now the United States is warning Iraq about their current political situation…obviously you got to have an established government. Who do you deal with? Do you deal with the intern government…and try to make deals or do you wait for the new government? This is one of the reasons why we won’t see a rate change happen anytime soon…
4-25-2022 Intel Guru MarkZ [via PDK] There is some encouraging news. Article from Iraq: “Analysis: Al- Kazemi government will continue its duties until new early elections in 2023.” Don’t panic…this is the backup plan if they cant get a proper government situated…This will not affect the financial reforms…as a matter of fact “Minister of Finance: The financial situation is very good and a upcoming meeting with the IMF and the World Bank is in Baghdad”. Over the past week or so they have met in the US …and the next meetings will be in Iraq. They are talking about the implementation of their “White Papers”. We are expecting our rate change with the white papers. They even discuss their possible timing. There will be meetings in Baghdad after Eid El Fitr to discuss moving forward with the reform process in the white papers.
4-24-2022 Newshound/Intel Gurus Walkingstick – Guru Petra Question: “In your opinion how high can the rate go?” No higher than the AAD…right now their goal is to move away from the USD… What is the rate of the AAD right now? 3.1 but it will fluctuate like all currencies daily. Petra – The AAD is = to IMF SDR…which equals $1.36 x 3
4-24-2022 Newshound Guru Samson Article: “Iraq exceeds the Arab countries in the growth rate .. IMF: GDP willreach 9.5%”
4-24-2022 Newshound Guru Sandy Ingram Iraq does not appear to be interested in revaluing their currency over and above the December 2020 rate…of course the IQD will revalue or float one day, however you should be aware that Iraq is moving forward without a revalue…
4-24-2022 Newshound Guru Kaperoni It was stated back in 2013 in the IMF Article IV Consultation with Iraq they need to diversify their economy. Doing so they then can float the dinar allowing it to gradually appreciate over time…Direct from the IMF in 2013…”staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect…”
4-24-2022 Newshound Guru Kaperoni When you search Wikipedia for an explanation of the Balassa-Samuelson effect, it implies that countries with rapidly expanding economies should tend to have a more rapidly appreciating exchange rate. In other words, the appreciation of the Iraqi dinar is solely dependent on the growth of Iraq’s economy. There is no RV, there are no shortcuts.
4-24-2022 Newshound Guru Pimpy Somebody is spreading … what you would call ‘nay-say’, doubt, stressing people out. I see it all the time in the group, people just go, ‘Oh, man the Iraqi dinar is never going to change. It’s never going to revalue.’…we know that’s not true. December 2020 the Iraqi dinar revalued…it went in the wrong direction. It lost value. [But] That’s a revaluation. Don’t let people tell you, ‘oh, it’s not going to revalue.’ Because it’s a lie…the Iraqi dinar will revalue. It will. So don’t listen to what all those people say…
4-24-2022 Newshound Guru Clare Article: “Minister of Finance: The financial situation is very good and an upcoming meeting with the International Monetary Fund and the World Bank is in Baghdad” GREAT ARTICLE! …meetings with the International Monetary Fund and the World Bank are about to be held in Baghdad.
4-24-2022 Intel Guru MarkZ [via PDK] [What will the dong rate be?] I was just told that I am wrong and the rate will be higher. I always believed it would be $2.25-$2.30…but several folks told me it may be over $3 or $4 now. I hope they are correct.