MarkZ
[via PDK]
Article:
‘IMF expects Iraq’s economy to grow by 3.6% next year’
The long term health of the country supports changing the value of their currency.
Question: Are the lower denoms out in Iraq yet.
MarkZ: They are showing cut sheets again (samples of the new LD’s) and talking about it in the news – but I haven’t been able to find any in circulation yet.
Question: ...article says zeros will delete but don’t expect a float. What happens if the rate does not float.
MarkZ: They would do what we expect them to do and come out at a fixed value. A float would make rates be wild and crazy. If they do allow a float it would be a ‘managed float’ with no wild fluctuations.
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Bruce (The Big Call)
[via WiserNow]
I can tell you this much redemption center screens are blank…[Tuesday]. No rates up on screens…We did have a rate on the Dong a couple days ago at redemption center, and it was quite good. I told you guys the dinar is going to be offered to us at a contract rate…and that’s still holding. And the main thing, I guess, is just for us to keep our eyes open.
I’m excited… we had five or six different sources unrelated to each other, that were telling us we are ready to go...Looking forward to us getting notified…It could push all the way to and through the weekend…I’m hearing later in the weekend, like Sunday, even Sunday into Monday.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
OMAR: In the country we will drop the zeros and the lower notes will be introduced and the 3 zero notes will coexist at the same time at the same rate. All of it will be dropped off the exchange rate and then as it’s pegged to a basket we will see our true rate.
FRANK: Yes because once it’s in the basket that’s an RI. Then it will be an RV in the basket to reach the real effective exchange rate. Then it ain’t 1 to 1 because you can’t touch the dollar. So you coming out at $3.22…. I suggest to cap it at $4.25…
FIREFLY: Television is now showing the Kuwait dinar. They’re telling us it’s strength for a long period of time that it’s been trading at $3.27…and it’s leading as a powerful currency. Interesting how they talk about the dinar today from Kuwait.
FRANK: No gentlemen, this is purposeful. This has a reason. If they would have just sprung this on you it would have been a disaster…They’re trying to tell us something… You only have to worry about the 90 days [to exchange your dinar after the rate change] if they float. What if they don’t float. Then they probably come out at $3.22 and higher 20% or more…
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Fnu LnuMany months ago [I said] there would be no float. One day you guys will realize that I am connected. I bring the receipts.
Article:
‘Iraq views recent US sanctions against Iraqi enities, including the Muhandis General Company [Sharakat al-Muhandis al-Amma], as deeply regrettable,’
Trump is not playing around. Iraqi assets have again been sanctioned. Are you starting to see that Iraq has many problems to address and their proclivity for being unlawful has thwarted, if not set back, the needed reforms to rejoin the WTO and be International with its currency on International trading platforms like FOREX. The RV is NOT happening for another 1-2 years.Nader From The Mid East
Question:
‘Can you explain the three zeros. How you going to exchange them.’
It’s going to be 90 days exactly…Just like they did before when they exchange the small categories with the big categories they gave us 90 days to change from S****m’s money to the new currency we have now which we call the new currency…I think that’s the rules of all central banks.
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Jeff
Article quote:
‘There is no intention to float the exchange rate of the dinar.’
Why can’t the do that. The budget is calculated off the currency value…If the value of the currency were to change significantly, say more than 20%, that would force them to amend the budget. They’re not going to keep amending the budget.
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Mountain Goat
Article:
‘GOVERNMENT ADVISOR: MONETARY POLICY HAS ACHIEVED STABILITY IN THE EXCHANGE RATE AND INFLATION.’
…the IMF told Iraq through their consultation sessions that they needed low inflation and a steady exchange rate. The news just told us that inflation is at a record low for Iraq, EVER. In fact they called it ‘unprecedented stability in inflation and prices’. The CBI is also able to steady the official rate of the dinar at 1320 for almost three years now. So where is the RV then.
Walkingstick (KTFA)
It’s not a float at the onset because the Iraqi dinar will be market driven. The supply and demand that is going to be put on the new currency with the new rate for the IQD will drive the value instantly. Supply and demand will determine the real effective exchange rate instead of 1 to 1 or even a float.
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Clare (KTFA)
Article:
‘Trump congratulates Iraq on National Day and affirms Washington’s commitment to the strategic partnership and promoting regional stability’
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Samson (KTFA)
Article:
‘AL-SADAWI : AL-SUDANI’S SECOND TERM IS A DONE DEAL, AND WE ARE WORKING ON A THIRD’Source : dinarchronicles
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