Iraqi Dinar | Latest Iraq dinar recaps & updates (2024)

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Dinar Gurus' Official Master List of Possible Major " To Do's ":

1. Moved to IMF Article VIII
2. HCL passed/imp. [Temp 11/2014] [agreed in spirit 12-2014]
3. Erbil Agreement Impl.
4. Election Law (DONE! 12/2013 | Amend Dec 2019)
5. UNSC Chapter 7 (Done?? summer-2013/ Dec/2017 moved to ch VI?? June-2018 Resolution 1487:CBI released from Sanction list. Voted 2-22-2022 Resolution 2621. 8-12-2023 - Iraq appears out of Ch VII but U.S. has not release them)
6. UNSC Chapter 6 (began 12/2017 ?)
7. Article 140 impl. (Supreme Court Support 5/2018 - mustimpl.) (8/2019 Federal Court clarifies constitutional force)
8. Economic/Banking laws passed (more needed)(12-2017)
9. Investment laws (Voted! 10/2015 Printed 1/2016)
10. Power Sharing (Done!! 10/2014)
11. Internationally accepted Dinar
12. GOI Seated (10/2014) [Done - Fully seated 6-6-2020]
13. Tariff Law (partial)
14. CBI & Market rate within 2%-90 days (start ~Mar. 15 2018? Nation wide start ~Nov. 2018)
15. E.O 13303 (Done 12/2017 - Biden renewed May 2023)
16. Law of Financial Administration/Financial Management Law (First vote May 2019) | Amend Dec. 2019
17. CBI Auctions Stopped (partly Done - June 2020?)

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7-1-2024 Intel Guru Frank26 [Iraq boots-on-the-ground report] FIREFLY:
They tell us on July the 18th we will be official but they keep hinting...that we're already part of the WTO. They got some guy from the WTO saying that the WTO got this on our WTO calendar already... The newscast saying that is the day Iraq is fully accepted with no hold back or limitations on our currency. FRANK: This is very good news. IMO the new exchange rate should be well before that date...

7-1-2024 Intel Guru MarkZ [via PDK] On the Treasury side the rumors are dropping left and right. Everthing from “It’s tomorrow” to “oh no- they delayed it another month” Crazy rumors….same sources are telling different people different things. That tells us its “MISINFORMATION” and it is done on purpose. Stay calm and remember the fundamentals. Iraq is still looking great. They still have the new ATM’s, they still have conversations saying they are going to delete the zeros. And they are still having the conversations about releasing the lower denominations in July…things still look great.

7-1-2024 Newshound Guru Clare

Article: "Dinar Explainer 1: Why Iraq has Two Exchange Rates" Quote: "On a recent webinar organized by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University explained the causes and effects of Iraq's dual exchange rate..." 1. Excessive Demand for US Dollars Internationally:... 2. Internal Demand for Dollars... 3. De-Dollarization Efforts by the New York Fed: The New York Federal Reserve has restricted dollar transfers to reduce dollar flows to Iran and Syria. They have also excluded over two dozen Iraqi banks from transactions, which has increased the complexity and demand for dollars in Iraq.

7-1-2024 Newshound Guru Pimpy Article: "Customs complete the first phase of the automation project and reveals its revenues within 5 months" They've been kept in the dark ages for a long time. Everybody was doing everything by paper and pencil and it was kept that way for a reason...Banking and other institutions are seeing their companies change with this new technology are going to be excited. It's going to make their work a lot more efficient...it's only going to get better for Iraq. This is one of those way they can generate revenue other than from oil. This is exactly what they need to diversify. Quote "revenue rate will raise by the end of this year to 200% from what it was in 2022." That's a hell of an increase...it's going to boom over there...

7-1-2024 Intel Guru MarkZ

[via PDK] there are some things out of Iraq that should make us feel good today...“The President of Iraq approves the 2024 budget schedules” Rashid approves a number of laws including the 2024 budget tables. My contacts over there are saying they got the budget tables posted in the Gazette…but did not get a new rate. They let us know that they figured the budget of 2024 on an average price of a barrel of oil at $80 USD. This is progress.

7-1-2024 Intel Guru Frank26

If it [the budget] comes out in the Gazette with the old rate, there's only two budgets left, one with the old rate and one with the new rate but if they come out with the one with the old rate don't worry about it, it'll change very quickly.

7-1-2024 Newshound/Intel Guru Walkingstick Sudani rewrote the contracts and recalculated them in accordance with the rate in the budget...They've been running a budget with the new exchange rate and a budget with the old exchange rate...

7-1-2024 Newshound Guru Militia Man Iraq...hasn't had a real effective exchange rate for over 20 years...Man we're really really close.

7-1-2024 Intel Guru Frank26

A few people were saying, 'boy the news out of Iraq is really slow.' It's not slow. The calm before the storm...that phrase fits perfect right now...It's not slow, it's simply very silent because that's the phase we're in right now. The phase we're in right now...to announce the new exchange rate, they are being mum. They are being mum about the budget right now...

7-1-2024 Newshound/Intel Guru Mnt Goat I...asked [my CBI contact] how the rate of the dinar would be determined in the future...I was...told that “you know and I know that the rate of the dinar is now being artificially suppressed”...I was told that Iraq is in a much better situation now prior to the 1990 embargo and so why not have an international rate again with at least a rate equivalent to the late 1980’s prior to the invasion...

6-30-2024 Intel Guru Frank26 The #1 reason, the only reason why we didn't have a new exchange rate, new lower notes, is because of the terrorism that was coming from Iran...Not anymore...You see more clamping down. More arrests, more money being returned.

6-30-2024 Newshound/Intel Guru Walkingstick

[Iraqi bank friend Aki update] AKI: It's about time. WAlKINGSTICK: What he's telling us is it's about time to release the budget and the new exchange rate with the lower notes. That's what he meant.

6-30-2024 Guest Guru Suzie WTO Article: "FORMAL WORKING PARTY MEETINGS 2024 18 July 2024 - THU 18 JUL 10:00 Working Party on the Accession of Iraq" This is good news for Iraq on their accession to the WTO. Hopefully they will have or shown us by that time a new rate for the dinar. While international trade and economics are the important criteria for membership, having an international tradable currency is not a "cast in stone" issue but I certainly would think Iraq WOULD want that for credibility purposes if nothing else...

6-30-2024 Newshound Guru Sandy Ingram ...This is the most concerning issue that is brewing. All oil revenue paid to OPEC is in US dollars...Iraq's oil revenue is received by the US Federal Reserve first and then allocated to Iraq...The fact there are backroom talks over the position of OPEC going forward leaves [us] concerned for Iraq's Financial safety especially if the country wants to receive oil revenues in the dinar currency. However this would be one of the best steps to strengthen Iraq's currency...OPECs power is being threatened from within and this could lead to an uncomfortable situation for Iraq. [Post 3 of 3]

6-30-2024 Newshound Guru Sandy Ingram The third factor...there are two exchange rates in Iraq...The official rate is round 1310 to $1.00. The market rate...fluctuates higher around, 1450 to $1.00 and cause issues, even protests. The market rate is the rate at which people live day-to-day... Because Iran and Syria need and want US dollars the US Federal Reserve has encouraged Iraq to rely more on the Iraqi dinar than the US dollar. This effort keeps Iraq out of trouble with the US Federal Reserve and the Department of Treasury...The issue of the two exchange rates is expected to be resolved over time. As of January 1, 2024 all transactions are mandated to be conducted in Iraqi dinars and the gap between the official exchange rate and the market value is anticipated to decrease, offering a sense of stability. [Post 2 of 3....stay tuned]

6-30-2024 Newshound Guru Sandy Ingram The four factors that have or can affect the Iraqi dinar currency...The first...is the '24 budget...presents a significant issue for Iraq. The World Bank's assessment that Iraq needs an oil price of $90/barrel to meet budget requirements is a stark contrast to the current oil price of around $80...This ongoing issue boils down to how the World Bank reviews financial data and how Iraq view the same data. The second factor...until 2014 Iraq almost always created jobs for college graduates...In the

..One reason the budget is so large is that Iraq is budgeting for over 700,000 new government jobs. [Post 1 of 3....stay tuned]

6-30-2024 Intel Guru Frank26 The ATM machines are like piñatas. They're ready to burst wide open and give everybody their sweet blessings. No doubt.

6-30-2024 Newshound Guru BuckeyeTree We are at the end of June, and Sunday, June 30, is mid year, an opportune time. Almost daily there is a cascade of news in articles from Iraq...IMO, June may end with great news, and, if not with what we seek, but maybe news that brings us yet closer to what we seek...Now ATMs are out and official WTO full member status as of July 18. IMO, the window seems to be getting smaller and startup of those idle ATMs dispensing and working maybe closer! IMO.

6-30-2024 Newshound/Intel Guru Walkingstick

The ATM machines, they're all poised like centurions that are standing there. These ATMs are guarding the lower notes. It's time for all of this to come out now. It's just the budget we are waiting for. We're not waiting for any laws, we're not waiting for any new procedures.

6-30-2024 Newshound Guru Clare WTO Article: "FORMAL WORKING PARTY MEETINGS 2024 18 July 2024 - THU 18 JUL 10:00 Working Party on the Accession of Iraq

6-30-2024 Intel Guru Frank26

[Iraq boots-on-the-ground report] FIREFLY:
We are now hearing from our news on Channel One that Iraq has been fully accepted into the WTO. This is going to be official...July the 18th. FRANK: To join the WTO Iraq does not need a currency with value. No, that's not the point. Iraq needs a currency that has no restrictions, no handcuffs, no limitations in order for it to float on an international market...whatever the case this is very good.

6-30-2024 Intel Guru MarkZ [via PDK] Something fun popped into the news yesterday...both from banks and exchange locations in Iraq. There was a notice that they are expecting distribution of lower denomination bills in July. Both of the confirmations I received this morning from contacts on the ground inside of Iraq used the same words that they were told to expect them to distribute/disperse lower denominations in July. That tells us how stinking close we are...Why would they need theses lower denominations unless the currency is worth more? ...

6-30-2024 Guest Guru Banker ...The new Budget was included in the latest Gazette but the rate was not given. I now have it from three different sources that Iraq is planning a nationwide celebration for this Sunday 30 June. There are many foreign dignitaries in country for the party and the rate will be announced and the new ATM’s with the new currency will be opened...

6-29-2024 Intel Guru Frank26 Question "Is it safe to give somebody at the bank your money before it's verified?"

.If you go to a bank and they say we're going to exchange the currency for you but we're going to have to take this currency and send it to the upper echelon bank...do a 180, about face, and run like the Road Runner. Get away from them as fast as you can. You never want to give up your dinars to anybody...Simply say, give me the address of that bank and you take them.

6-29-2024 Intel Guru RayRen98

[via Babysmom] "THE CLOCK IS TICKING. IT APPEARS THAT CELEBRATIONS HAVE COMMENCED EARLY ON SATURDAY EVENING...THE GAZETTE" UPDATES" AROUND 4:00 A.M. EASTERN...TIME WILL TELL!!!"

6-29-2024 Newshound Guru Clare Article: "A new Iraqi plan to return the green bird to the skies of Europe again " Quote "The Iraqi Airways Company talked about a new plan to return the green bird to the skies of Europe again."

6-29-2024 Newshound Guru Pimpy I own 5 million Iraqi dinar. Nothing would make me happier than to wake up in the morning and hear, 'hey, the new exchange rate is 3 US dollars for 1 Iraq dinar and they kept the zeros on there.' I would be jumping up and down...

6-29-2024 Intel Guru Wolverine [via Judy Byington] “I want you all to get ready as Iraq is going to have a massive celebration this Sunday 30 June. The RV is nearly here and it’s going to be very emotional for all of us...

6-29-2024 Intel Guru Frank26 Sudani...I honestly feel he has put everybody ...in checkmate...He put Kurdistan and Barzani in checkmate when he showed them the new exchange rate IMO. He put all the contractors in checkmate ...when they rewrote [contracts] with the new exchange rate IMO...Sudani has...all those involved in monetary reform in checkmate, even the United States of America, WTO, everybody is in checkmate...Look at all the excitement...pomp and circ*mstances pointing at Iraq from everybody... bowing to Iraq...You got the oil we want...The whole world knows Iraq are in control of them.

6-29-2024 Intel Guru MarkZ [via PDK] ...I do not believe there is a new rate in the Gazette this morning. I am not expecting one till Wednesday. I have heard that Sudani has signed off on the budget and it is supposed to be headed to the Gazette. There was some hope it would be printed this morning.

6-29-2024 Newshound Guru Militia Man The Real Effective Exchange Rate changes the whole dynamics. They wouldn't have gotten this far in the stage if they were going to go do all the things they're talking about at 1310. They would have already done it by now...

6-29-2024 Newshound Guru Clare Article: "Iraq and Britain discuss preparations for Sudanese's visit to the United Kingdom and ways to enhance partnership and cooperation between the two countries”

6-29-2024 Intel Guru Bruce

[via WiserNow] ...all of this information...is coming from Iraq directly, and we have some sources there ...was at the Baghdad International Airport and was able to use his credit/debit card. An Iraqi citizen was able to use his credit debit card to not only obtain lower denominations on the ATM, but also purchase airline tickets – in the ATM – which I didn't know you could do...He did have a rate, and he was...successfully able to transact business in Iraq - on the Iraqi dinar...He said, our time will come in a couple of days, a couple more days, but I think he's probably right...This should be a bang up weekend for us.

6-29-2024 Intel Guru Frank26 Article: "Finance begins distributing estimates of the state's current expenditures, revenues, and public investment projects" That's a lot of words for one thing. You know what it is? The budget has the new exchange rate in it. These steps will reveal the new exchange rate.

6-29-2024 Intel Guru MarkZ [via PDK] With what I am hearing from the banking side…this may be it. I am feeling exceptionally good as to where we are at right now. News is pointing to right after July 4th from the banking side. I continue to get similar things for between the 4th and the 15th out of Iraq. I am hopeful this is accurate...We are watching it wind down to completion.