News, Rumors and Opinions Tuesday Morning 12-8-2020
TNT:
Tishwash: A government move to change the exchange rate in the 2021 budget and warn of the collapse of banks
The economic expert, Abdul Rahman Al-Mashhadani, revealed, on Tuesday (December 8, 2020), the government's intention to change the exchange rate in the 2021 budget, while he warned of the collapse of banks.
Al-Mashhadani said in to IQ NEWS , that "the change in the price of the dollar is related to the government's actions as a ministry of finance with the idea of preparing the 2021 budget." This will push traders to raise its price even more. "
He added that "the exchange rate of $ 100 may reach 160 thousand dinars, and this is an indication of the instability of the economic market," noting that "any change in the exchange rate gives an indication of instability in the market, which draws confidence from the owners of deposits in dinars."
He warned of "the influx of distributors on Iraqi banks to withdraw their dinar deposits and convert them into dollars, as happened in Lebanon, but the opposite happened to them," noting that "this may cause the banks to collapse easily."
It is noteworthy that the exchange rate of the dollar against the Iraqi dinar rose yesterday, as the selling price of $ 100 reached 127,500 dinars and the purchase of 126,500 dinars link
Tishwash: News Of Shutting Down The Internet In Kurdistan
In light of the increasing demand for protests in the Kurdistan region, it was reported that the Internet service was cut off in Sulaymaniyah. Continued. link
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Doc Savage: Catching up on Oak Island. One of the Lagina brothers aid he doesn't expect to find the treasure until Maliki is gone.
Oakave: Doc Savage, I would laugh but there, is probably some truth in that
JudiBlueEyes: We are the most patient group of people I have ever encountered. This journey certainly builds character. I have met some very large challenges in my life but this one is at the top of the list.
Rogue: I get bewildered with Zim math but love it when someone new tries to calculate the rates....
Props2000: Asking for a friend. They have a 10T note and wondering if it will be redeemable! Thanks!
Yada: 0,000,000,000,000 x .0000001 = 100,000…..$100k for every penny
Yada: the 6 zeros then .01 for one cent. That is why when Ray said 60¢, my eyes became real big,,, .00000060 x 100,000,000,000,000 = $60,000,000 per 100t note
JudyBlueEyes: That new zim rate should be enough to revive you without the smelling salts! Oh Baby Oh Baby! Momma wants a new set of wheels.............LOL
JudyBlueEyes: The return on the zim will be so much better than anything else we are holding so perhaps we won't even care what happens in Iraq.
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Tishwash: Al-Rafidain: 4% interest granted to citizens who deposit their money
It was just 3.5%!
Rafidain Bank announced, on Tuesday, financial benefits of 4 percent for citizens who deposit their money with the bank.
The media office of the bank said in a statement that the information received, a copy of it, that "the interest of citizens' savings accounts is given 4 percent to those who deposit their money in the bank and is calculated at the end of each month."
The bank called on citizens to "visit bank branches, see instructions, deposit their money, benefit from this service and receive the financial benefits provided by the bank." link
Courtesy of Dinar Guru https://www.dinarguru.com/
Footforward Article: "Negotiations between Iraq and the International Monetary Fund to determine the exchange rate of the dinar" ...I think the IMF has been pushing Iraq for at least 6 months to do this. So I don't think this is a new development. Just a renewed push on the part of the IMF...they are wanting them to increase their rate.
Pimpy Article: "Oil disturbs Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the numbers to "reduce the financial deficit!" So here we go talking about the rate change again. It's been mentioned all week long...they're not even hiding it anymore. There is a lot of talk about the exchange rate...we know the rate change has to be discussed...It looks like they are going to make it part of the 2021 budget...yes, I'm excited like you are...
Jeff Article: "Urgent Parliamentary Finance: The government will reformulate the 2021 budget and send it to Parliament next week" Quote: "Ministry of Finance and the International Monetary Fund to update the exchange rate of the the Iraqi dinar..." I stressed to you that the borrowing law was the last step needed in order for them to change the exchange rate. That's why right now Iraq's putting a huge emphasis on the exchange rate, their economy and on the banking reforms...they have to change the rate by the back wall the end of March...everything's looking really good...
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Footforward "Iran Gears Up/Dinar RV & GCR"
Currency365: Dec 7, 2020