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DELTA: WE KNOW SHABIBI SAID IN THE PAST THAT THE GOAL IS TO MAKE THE IQD LIKE IT USED TO BE IN 70-80 ..AROUND $2.85 BUT AGAIN WE DON'T KNOW IF THE PLAN STILL THE SAME ...
McDan: Delta do You know if that is $2.85 SDR rate or the exchange rate. My question would add if it is the SDR rate to get the exchange rate ( you would need to multiply the $2.85 times the SDR rate of about $1.38 to get the exchange rate ? IMO )
DELTA: HI MCDAN..2.85 DOLLAR TO IQD ..NOT SDR..
CSHessman: with some quick, theoretic calculating.... it could be at a value of $1.918 in 2019... oh my...1.71 - 1.19 = .52 / 5 = .104 x 2 = .208 + 1.71 = $1.918 ... all in my opinion if the value holds to the 5 year pattern avg of the two sums off value Delta pointed out.... that would be twice what i banked on... so some icing is on the cake alread
HappyGuy: Delta, come in please! If this is true, why are we just finding this out now? How could this have been kept secret from us, for over two years?
DELTA: NOT NEW FOR US ...IT'S BLAST FROM THE PAST
HappyGuy: You're saying that the in-country rate for the dinar has been $1.71 for more than two years?
DELTA: HAPPY GUY YOU DON'T SOUND HAPPY......YES THE TRUE RATE WAS WORTH. $1.71..... THEY ARE SAYING THAT…. THEIR WORD NOT MINE IN THE LINK......
HappyGuy: So Delta . . . Iraqi citizens have been making purchases of imported goods at the rate of $1.71 to 1 dinar for more than two years now?
Or did the rate of $1.71 to 1 dinar, just show up for one day as a test back in 2017 on the currency exchange - and then vanish? I need to get this figured out once and for all.
DELTA: NO SIR EVERYTHING IS UNDER PROGRAM RATE....WHEN THEY RI THEY WILL BE ABLE TO SUPPORT THAT RATE...
HealingHands777: I think what Delta is saying is that right now we are at a program rate, but if you were to rv right now, the assets (gold, oil, etc.) It would support this rate. As if each year, they add up all assets and say... this is our worth right now if we were to get rid of the program rate
MilitiaMan: So what is the IMF / Sdr rate when paired to the Iqd once reinstated? Do we use a daily rate or monthly rate per the IMF? Do we use the value of loans per the AMF/AAD? Do we use the value of loans Alak used in an interview about the loans that were good and or bad? He gave value to them! He spoke openly about them!
Do we know that Iraq’s assets are increasing in value as time is move along? Do we know that value is derived from the collectiveness of the totality of assets all combined? Think about all that..
Where does that come from?
Oil, liquid natural gas, taxes, tariffs, agricultural and or even tourism aspects.?
While we watch and wait the discovery of the assets to be exposed to support value...
Expansion of the exchange rate?
Expansion of the gold data base?
All of that above suggests what Frank point to! It is beyond end game, per se.. imo -MM
Kimbu: What and where is the source of this article? (Delta article below) Does this mean that Iraq keeps track of a hidden value? Or have the Iraqi people been spending at this rate for 2 years now? Could the iqd holders exchange at that rate now if they hopped on a plane to Iraq and went directly to the cbi?
Toyvp: Don't know the source but I have heard through the grape vine of a little thing called 2nd set of books and I have heard of another thing called article 8 and how you cannot move money over the border until they expose that fact
BillA: Exactly Sir, These are the true rates based on GDP, Taxes, Debt etc.. However Iraq has not officially moved into Article 8 therefore remain at a Program rate.
DELTA: 8 | Currency and Price Stability
The government’s monetary policy since 2003 has focused on maintaining price
stability and exchange rate predictability. The inflation has remained in the low since
2010. According to the CBI, the inflation rate is 1.4% (2015 estimates), while the
World Bank estimates 2015 at -1.2%, and the country’s international reserve volume
also has decreased due to the sharp decline in oil prices. The independence of the CBI
suffered a setback in January 2011 when former Prime Minister al-Maliki won a court
ruling that placed independent institutions, including the CBI, under the control of
In January 2012, the CBI raised the exchange rate of the Iraqi dinar to
$1.19, causing a huge crisis that led the Supreme Judicial Council to issue an arrest
warrant for CBI governor Sinan al-Shabibi in October 2012 on charges of corruption.
Al-Shabibi received a seven-year prison sentence in absentia 2014, shortly before
being acquitted of all charges.
The difference between the official and parallel exchange increased from three percent in 2015 to nine percent in May 2016. The CBI introduced a number of policies to keep inflation low. The dinar remained widely stable and was worth $1.71 in early 2017
2012 IQD WORTH $1.19
2017 IQD WORTH $1.71
2019 IQD WORTH ???
Moparman: You obviously haven't been reading all of the posts or doing your homework. JJ left the Link info on an earlier post. Here it is again to help. https://www.bti-project.org/en/reports/country-reports/detail/itc/irq/ It is a long read, but over half way through the report it says what Delta has posted word for word. Thank You JJ for the Link.
JJimmyjj: I know we all want to know what this means to us right now, but I'm struck that this is the first concrete evidence I've seen that some of the most cherished lore of dinarland ("Shabibi was going to raise the rate, until Maliki messed it up") was confirmed by an official report.
For all the mockers and pessimists out there, this is a devastating article. Not only does it confirm, officially, that they don't want to leave their money at a program rate (pessimists: "they could do what Japan does!" This report: they could, but they don't want to), but it is also one of the only times in this ordeal that the pessimists were proven wrong and the optimists were proven right!
This is concrete evidence that they actually raised the rate at one point!
OlLar: Estimate the shadow price of foreign currency:
It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.
The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.
JJonemx: Good job, This was from the ministry of planning (EY STUDY) and had since been pulled Blessings *JJ*
JJimmyjj: If this session is for what I think it is for, they won't have any trouble getting a quorum, because this is going to be a historic celebration...imo.
Samson: Iraqi National Bank calls for the convening of the General Assembly next Wednesday
2nd June, 2019
Called the Iraqi National Bank, to the meeting of the General Assembly on Wednesday morning, 19/6/2019, in the Hall of the station, with the participation of the shareholders of the bank.
The bank said in a statement received by the "Economy News" that the bank invites its shareholders to attend the meeting of the General Assembly in implementation of the resolution of the Board of Directors held on 16/3/2019, which will be held at 10 am on Wednesday, 19/6/2019 at the station near the square Awqaf bin Nafi, adding that the meeting will discuss the report of the Board of Directors regarding the activity of the Bank for the year 2018 and take the appropriate decision about it.
He added that "the final accounts for the year ended 31/12/2018 will be discussed and approved." LINK
Don961: Claims to return the Peshmerga to Kirkuk and activate Article 140 of the Constitution
Sunday 02 June 2019
Baghdad - Writings
Iraq has nothing but the return of the Kurdish Peshmerga forces to the province of Kirkuk to maintain its security and stability and to confront the terrorism that beset its people.
Called by Deputy Rihan Hanna Ayoub, head of the Assyrian Chaldean Syriac People's Assembly in the Iraqi Council of Representatives in order not to repeat the terrorist attacks targeting the safe in that province.
Rehan said in a statement that it is necessary to elect a governor of Kirkuk, to be the sons of that province disputed with Baghdad, and a real representative of its people, with the reinstatement of Article 140 in its proper form without politicizing the parties without others,she said.
Article 140 of the Iraqi Constitution requires the implementation of a mechanism consisting of three stages, the first of which is normalization, to deal with the changes that have taken place in the population structure in Kirkuk and the disputed areas under the regime of the late Iraqi President Saddam Hussein. The second is the census in those areas. Wanted by its people, which has not yet been achieved.
The Iraqi MP called for the redeployment of the Peshmerga forces to impose their control over Kirkuk, stressing that it is time to stop the suffering that affected the people in the province as a result of conflicts of aspiring to take over the positions. link