Iraqi Dinar Guru opinions 1-9-2023
Iraqi Dinar Guru opinions 1-9-2023
1-9-2023 Intel Guru Frank26 You can’t let your dinars out of your site. You cannot give your dinars to a small bank that will send them to a large bank and have it verified. If they get stolen. If they get lost. If the Brink’s truck rolls over and burns up and the dinar are destroyed, they’ll give you what you paid for them but they’re not going to give you the exchange rate for it. It wasn’t converted…God gave you these dinars as a blessing for you to be responsible and stewardship and you’re learning how to do that…
1-9-2023 Guest Guru Yada Article: “Al-Nusairi: The return of the exchange rate to its target rates will be achieved by revitalizing and stabilizing the economy.” Quote: “…the most important thing is sincere and true intentions for change towards the desired economic advancement with an emphasis on supporting the banking sector as the main link first in economics” If I’m not mistaken, this dinar will still float internationally and not just in country. That will move up the price.
1-9-2023 Newshound Guru Clare Article: “Central Bank Governor: The dollar exchange rate crisis is temporary and the monetary situation is at its best” Quote: “…reserves of the Central Bank of Iraq and its arrival to more than 97 billion dollars…The foreign reserves index to money supply in the broad sense is high and reached 81%, which is an indicator that enhances confidence in the Iraqi dinar as a store of value, as well as preserving the value of the national currency by ensuring the stability of the exchange rate as a nominal stabilizer for inflation”
1-8-2023 Newshound Guru Henig Article: “No agreement with the region.. Expectations to settle the draft budget for 2023″ Quote: “Suleiman attributed the reasons for its lack of readiness for discussion and approval, summed up in the fact that it needs to prepare paragraphs, including the region’s share, the exchange rate, and infrastructure allocations.”
1-8-2023 Newshound Guru Kaperoni Iraq is beginning to create the conditions to launch a float of the Iraqi dinar. Large Central Bank Reserves, creating a private sector economy, all are conditions and requirements for the success of floating…one [article] specifically talked about the central bank’s reserves and how they won’t be needed at such a high amount a year or so from now. That’s a clear indication that they’re not planning to do anything monetary policy wise with the dinar for at least another year. I don’t expect a float until 2024 at least…
1-8-2023 Newshound Guru Pimpy The last two months have been very rocky for the IQD only because of all the speculation out there. There’s a lot of people that want to keep the Iraqi dinar unstable and they did a pretty good job of rocking the boat. I think people are starting to wake up to this trick or maybe not. We’re going to find that out the beginning of this next year…the budget…hopefully approved by February should calm a lot of people’s nerves and from there we should see some positive movement with the IQD…
1-8-2023 Newshound/Intel Guru Walkingstick [via Frank26] Bands on the float will keep it at 1 to 1 with the American dollar but when they lift these bands the IQD will float faster and it will gain more than a 1 to 1 with the USD and all the other currencies in the basket. Pairing 1 to 1 at the onset and then as the economy of Iraq improves and grows and the education get stronger and louder and Iraqi citizens get used to using the new currency then everything will be perfect for the Iraqi citizens.
1-8-2023 Newshound Guru Clare Article: “Al-Janabi: The Central Bank is able to restore confidence in the Iraqi dinar soon” Quote: “this problem, which confused the state of the Iraqi market, will soon be resolved, and the central bank is able to restore confidence in the value of the Iraqi dinar and adjust technical matters in the near future,”
1-8-2023 Newshound Guru Paulette Many try to compare Vietnam and Iraq when evaluating the currency. Most of these comparisons are flawed: “…Vietnam has a very low rate and their economy is one of the fastest growing…” This is a totally irrelevant comparison. The rate is not the issue. The issue is IMF Article 8 Compliance. This allows Freedom of Movement of capital in and out of the country.
1-8-2023 Newshound Guru Paulette Vietnam has been officially acknowledged to be Article 8 compliant, Iraq has not. Additionally, the CBI has clearly stated their intent to implement the “Delete the Zeros” project. Vietnam has not made any such claims. Bottom line, comparing Iraq and Vietnam due to their low currency value is like comparing Apples to Oranges…
1-8-2023 Intel Guru MarkZ [via PDK] I am still hearing they want to keep things very cloudy here at the end for safety reasons. Based on my research and a couple conversations that they are throwing around dates from the 9th to the 31st…they are doing this on purpose. They do not want anyone to know the exact date…for security reasons. They have a wide target range there, and personally I think it should be on the “sooner” side then the “later” side of it.