Dinar Observer Daily

Kaperoni – Dinar Guru  …This [auction] action by the CBI will not only help the citizens but it will help them with the IMF to meet compliance. Further liberalization also helps encourage investment in Iraq .  The real reason why they’re doing it though is to try to get the exchange rate back in line with the 2% spread limits the IMF has imposed. The current exchange rate in the market is around 1490 which is on the cusp of exceeding that limit making them out of compliance.

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Clare – Dinar Guru  Article “Al-Maliki makes the approval of the oil and gas law conditional on this matter”  THAT IS NOT NURI AL-MALIKI ….. IT IS A DIFFERENT GUY SAME LAST NAME

Sandy Ingram – Dinar Guru  So what would they [Iraq] need to do in order to…increase the value of their currency?  One thing they could do would be to create a new currency like Kuwait did and provide a window of time when people could exchange the old Iraqi dinars for the new currency or they could go digital.  But where does either of these options leave us as investors? …Get a valid passport…there are ways you and I will be able to fly into the Middle East..we need to prepare for this option now…

Pimpy – Dinar Guru  I’m not saying it’s not going to change come this budget, mostly likely it won’t because the Central Bank said this is the rate it’s going to be for the next 5 years.  We are now 2 1/2 years into that 5 years.  We’ll wee what happens when this budget comes out…

Mountain Goat – Dinar Guru   One could almost say the news is once again just all about the currency. The pressure builds for the CBI to act now. Over 100 of the parliamentary members claim they will not even attend parliament sessions to vote on the new budget unless this issue is addressed in the budget.  …These are exciting times and personally I can’t see the CBI holding back this reinstatement much longer….

Clare – Dinar Guru  Article:  “The Central Bank announces that its cash reserves have exceeded the $90 billion mark”  Quote:  “The Iraqi currency is now witnessing a significant rise and recovery, as it is considered one of the strong international currencies, although it is not an international currency for circulation,”

Militia Man – Dinar Guru  Article: “Baghdad & Kurdistan Region at the table of Constitutional Entitlements”  The looks of things here are seriously on fire. They talk about budget and in detail, they went over the file with respect to key points that needed clarifications or reorganization, etc…IMO… Timing is ablaze with urgency..

Kaperoni – Dinar Guru   …The Central Bank announced they’re going to liberalize the foreign exchange.  Meaning they’re going to spend more dollars in the auction. This of course has impact on the dinar exchange rate… the reality is all they’re going to do is put it closer back to the rate it was a year ago around 1170 to $1…

Pimpy – Dinar Guru  There is a lot of talk once again about the change in the exchange rate.  I think some people are misinterpreting what they’re reading… Article:  “Government official: Dollar exchange rate will fall and its impact in a week”   …they’re talking about controlling the actual market itself…they are going to do what they can to make sure they maintain a specific rate...Be careful with all the rumors…talking about the exchange rate going to happen.  You got to hear directly from the Central Bank and no one else.

Nader – Dinar Guru   They [the CBI] didn’t say how much.  They [the CBI]  just said to the old numbers and then it’s gonna go down gradually…that’s good news.  I’m happy about that.  It will help me out a lot actually if it goes down to 1160.  There’s a new decision has been made…from here to maybe next week or the week later you’re gonna see changes.  Maybe this week we don’t know.  So get ready for it.

Pimpy – Dinar Guru  When it comes to this new government in Iraq it is moving quickly and I mean very quickly.  Not just locally but internationally…

tlm724 – Dinar Guru   Article:  “Association Of Banks: Central Bank Measures Will Return Dollar Prices To Their Rates Quickly”  Quote:  “those who criticize the central bank must be aware that its measures announced yesterday by increasing the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly.“

Clare – Dinar Guru   Article:  “Government official: The exchange rate of the dollar will decrease and its impact will be after a week”  Quote:  “A government official confirmed, on Monday, that the exchange rates of the US dollar against the Iraqi dinar will decrease with the Central Bank’s decision to increase the weekly share of banks, exchange and mediation companies, pointing out that the decline will have an impact next week.

Kaperoni – Dinar Guru  The Prime Minister of Iraq met with the central bank governor…He was instructed to take steps to improve the banking system.  The governor was directed to further liberalize foreign exchange. The benefit of such a move helps Iraq integrate with the global banking system, increase investment and encourage financial integration…this should put Iraq in a position to accept IMF Article XIII...   [Post 1 of 2]

Kaperoni – Dinar Guru  This step by the central bank today will help perpetuate investment and develop their economy. It is a first step of many.  Liberalizing the foreign exchange and access to dollars should also have an affect on the dinar exchange rate. Though they are not talking about an RV they are talking about using the liberalization to raise the value back to what it was a year or so ago around 1170 to $1. [Post 2 of 2]

Militia Man – Dinar Guru  Article: “In the document.  The central bank decides to increase the weekly share of dollar sales“  Are they about to make a big move?

Clare – Dinar Guru  Article: “Starting tomorrow… the Central Bank of Iraq is moving to reduce the price of the dollar (document)”  Quote: “The Central Bank of Iraq decided, on Sunday, to increase the weekly sales of the US dollar in the currency auction, in an attempt to restore the exchange rate to its previous state.“

CandyKisses – Dinar Guru  Article: “Parliamentary: Discussions and Dialogues to Review the Dollar Exchange Rate”  Quote: “MP Najwa Hamid confirmed the House’s move towards reconsidering the dollar exchange rate.  Hamid told Mawazine News that “there are discussions and dialogues between members of the House of Representatives, and the Finance Committee specifically to reconsider the dollar exchange rate, and we believe that an appropriate price will be maintained.“

Nader – Dinar Guru  The decision this morning has been made to change the exchange rate.  They actually said to the old one…we don’ know if it’s the 1160…then they said it’s gonna go down slowly…the decision is made…maybe a couple weeks maximum you’re gonna see some changes.  So get ready for it. 

Samson – Dinar Guru  Article: “Iraq is fifth in the world in oil reserves, the cheapest to extract and the most profitable”  Quote:  “the oil reserves in Iraq and Saudi Arabia are close to the surface and on the ground, which makes access to oil more accessible and the extraction process more cost-effective and more profitable.“

Samson – Dinar Guru  Article:  “Basra Gas announces that its production has increased to 1000 million standard cubic meters per day” Quote:  “Gas production has increased by four times, as the company produces 1,000 million standard cubic meters per day, after production did not exceed 200 million standard cubic meters per day“

Pimpy – Dinar Guru   Article quote:  “The absence of the approval of the 2022 budget has hindered taking advantage of the rise in oil prices to implement new investment project – In addition with weak business environment and efficiencies in public sector investment, mismanagement, corruption and the lack of adequate infrastructure.  All these factors constitute major obstacles to attracting foreign investment despite some progress in the recent years.”  This is the big reason why you’re not seen any real increase in the Iraqi dinar exchange rate.  Those are huge steps…that need to be taken before they can increase their purchasing power and before they can increase the value of the Iraqi dinar…

Sandy Ingram – Dinar Guru  Article:  “Blaming Kurds for unrest, Iran threatens Iraq with offensive”  Breaking news out of Iraq – Iran has made good on their threats.  They have lit up Northern Iraq like a Christmas tree with drones and missiles…the United States condemns Iranian strikes in Northern Iraq…

Mountain Goat – Dinar Guru  …the good new this period is that they are cracking down on the corrupt banks in Iraq as they already closed 14 of them.  Next the US Treasury is in Iraq briefing over 35 of the existing banks how to conduct their banking practices and “best practices” for the banking sector…So why are they cracking down so heavily now? …I am hearing from my CBI source that part of why the US Treasury is now in Iraq is also to review and implement measures for auditing the expenditures of the 2023 budget once it is opened.

Samson – Dinar Guru  Article “In numbers… an unprecedented value for Iraq’s foreign reserves” Quote “Iraq’s foreign reserves are the highest today in the country’s financial history, which amounted to nearly 90 billion dollars…the exported Iraqi currency also amounted to about 150%, meaning that every dinar is exported to Trading in the economy is now covered by foreign exchange one and a half times.”

Walkingstick – Dinar Guru There was $800 million flowing per week out of Iraq from the CBI banks illegally.  It was being done by the political thieves…money exchangers… Maliki… auctions…fake contacts or directly stealing it and not caring if they were caught.  Only the CBI can supervise their banks and they have done a superior job.  That is why the international world is willing to pour into Iraq with their currency converted into Iraqi dinars.

Mountain Goat – Dinar Guru   Article: “IS IT TIME TO CHANGE THE EXCHANGE RATE?”  Quote: “…go to the program to delete the three zeros so that the dinar became a respectable and strong currency and an actual strategic and national stockpile that is better than the dollar and gold together.”   Alleluia! Alleluia! Yes, this…is exactly what we want to hear. I do not think they will ever tell us directly they will reinstate the dinar but we know if they do the project to delete the zeros they will have to reinstate it. Plus the CBI told us this is the next step way back in 2011 when the told us the overall process of how to get the dinar back to FOREX. By the way this is the second article already in a week that they mentioned the project to delete the zeros….

Militiaman – Dinar Guru  Article: “An economist shows the period needed to restore the exchange rate.. These are its effects”  This guy seems to be on a different planet.. 5 years? lol For crying out loud the CBI has already paid for the currency for the GOI to issue once ready, back in 2018.. The focus here is the policy of the government. It is their baby in sync with the independent CBI.