Mountain GoatWhat will happen to the three zero notes. To coincide with the newer lower denomination notes, the following three zero notes will still exist but taken out of everyday circulation. They will be used only in the background for financial institutions for larger cash transactions for international transactions, such as trade deals. 250, 500, 1000, 5,000, 10,000, 20,000, 25,000, 50,000…
Note the 20,000 note has been added since this note does not yet exist in circulation in Iraq. They now plan to launch that 20,000 note in 2025-2026 at the same time as they conduct the removing the zeros and launching the lower categories. So, this is all we now know about this note. Don’t be scared about it. It is not going to affect the removing of the zeros…
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Already Blessed (TNT)
…JUST WAITING PATIENTLY BECAUSE I KNOW IT REALLY IS HAPPENING – WE LIVED ON HOPES AND WISHES FOR MANY YEARS AND NOW WE CAN SEE THE PROGRESS AND HEAR THE DETAILS ABOUT HOW THIS STORY HAS EVOLVED.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
OMAR: Television…went on to tell us Iraq is officially moving forward with the monetary reform to delete the three zeros from its currency. Meaning 1,000 old dinar will become a 1 new dinar to simplify transactions. There’s also buzz about moving to a 1 to 1 exchange rate.
FRANK: Donald Trump is now in control of your monetary reform. That’s the only reason why we are seeing it unfold. If not, this would still be being kicked down the road…We are so close my taste buds are smiling. Remember China. They denied they were going to add value in ’95. Kuwait denied they were going to add value in ’99. Then in the next few days both of those scenarios lifted the value of their currency. So either Alaq is in a bad mood or he’s mentally deranged or he’s working for parliament Iranian politicians or he’s just trying to stop speculation because everybody knows when you subtract zeros from the exchange rate it adds value…Trust me we’re almost done.
Just a month ago the idea of talking to you Iraqi citizens about the lower notes was taboo. It was being kept top secret. Today it is a necessity because the new exchange rate is coming right after… showing the lower denominations – the specimens and samples, not the official lower notes…
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Samson (KTFA)
Article:
‘An expert: 90 trillion dinars are hoarded by Iraqis and do not reach the banks’
Quote:
‘The public does not only mean the people, but also the merchants, the contracting companies, and the industrialists,’ explaining that ‘Iraqis hoard money instead of depositing it in banks, because our society likes to deal in cash and needs a long time to get used to electronic payment methods, in addition to the lack of trust in banks among some depositors after the setbacks that occurred in the banks.’
Article:
‘TRUMP’S ENVOY TO IRAQ, MARK SAVAYA, OFFICIALLY BEGINS HIS MISSION’MilitiaManThey’re taking about the delete the zeros project significantly lately. They said it’s still in process. They’re talking about a technical adjustment when they say things like that. They’re not talking about a devaluation. For crying out loud, they talked about a 20k coin…By deletion of the zeros off the exchange rate and applying a real effective exchange rate based off fundamentals is really important to understand that…The peg [to a SDR basket]…is stability.What Alaq is talking about is that his reserves are safe. The dinar is going to be rock solid…In my view Iraq is not waiting for a revaluation. We are but they have been building an entire system that makes Iraq stronger, globally trusted and having a globally trusted dinar. What’s to come is inevitable. Ultimately you have the quiet holding of the blueprint which is the United States in the background.
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Clare (KTFA)
Article:
‘Economic: Liberation from dollar restrictions marks a new beginning for the Iraqi banking sector’
Quote:
‘approximately 90% of the Iraqi banking system remains subject to the restrictions imposed on dollar transactions…recent indicators are positive, and some banks are expected to begin gradually freeing themselves from these restrictions within the next three months.’
Article:
‘Washington in the heart of Baghdad… Is Savaya close to influencing the formation of the next government.’
Quote:
‘The presence of the US envoy is an indication of Washington’s desire to follow political developments directly, ensure a stable political transition process, and maintain the balances it deems necessary to prevent the country from sliding into new crises.’
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Fnu LnuIraq doesn’t need or want a revalued currency as it has no need.Iraq is closing deals daily and large scale agreements are a weekly occurrence. There is no truth to the supposition that Iraq needs a revalued currency to be a WTO member, be traded on FOREX, or to conduct International business…
Here is a sample for this week of business in Iraq:
– Al Busttan signs Contract with TotalEnergies for Ratawi Development
– CBI signs Agreement on Electronic Payments
– CAAP Wins $764m Bid to Rehabilitate and Operate Baghdad Airport
– Excelerate Energy Signs Floating Gas Platform Deal in Iraq
– UK Firm Delivers First 12 Fire Appliances to Iraq
– AJet Launches Direct Flights Between Ankara and Erbil
– Iraqi PM Launches Maysan Pharmaceutical Plant.
MarkZ
[via PDK]
Question: …is this the week.
MarkZ: Nobody knows the timing but it sure feels like its very close.
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Nader From The Mid EastThere’s no in country and outside country. When you say international, when you put something international… they’re going to put it to float and all that, the rate will be same thing everywhere over the world…I never heard of contract rate or nothing like that before.
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Walkingstick (KTFA)
[Iraq bank friend Aki update]
Aki is mad…He was told the month before last to go and stay at the bank. He was expecting it then at the beginning of last month, September. He is p****d at having to wait so long. He is a family man…He does not know the date. No one does except those at the CBI and GOI and they are a few…Source : dinarchronicles
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