AJ: A unified exchange rate has to happen 1st before the CBI can revalue its currency.

 AJ

OMG GREAT NEWS I'VE BEEN WAITING TO HEAR! 

I've been saying this for 8 months, something my longtime followers know well, a unified exchange rate has to happen 1st before the CBI can revalue its currency. 

They cannot have 2 rates for the dollar in their country. Why? Every other country that has revalued with a Parallel Market always unified the two different exchange rates first. This is a key step for a revaluation.

Economic advisor Samir Al-Nasiri said By the second half of 2025, the parallel market rate will merge with the official rate, this paves the way for Iraq's currency revaluation!

The US dollar exchange rate will gradually align with the official rate, thanks to the Central Bank's robust strategy! 

With comprehensive banking reforms and a shift to direct interactions with correspondent banks, the black market for speculators is losing its grip. The Central Bank's prudent monetary policy has slashed inflation to under 2.5% lower than neighboring countries and stabilized the exchange rate. And now we have a timeline! I'M VERY EXCITED fam this is HUGE! To read full article. The economic and banking advisor, Samir Al-Nasiri, expected that the exchange rate of the US dollar will gradually decrease to approach the official exchange rate،

In accordance with the strategy of the Central Bank and its ongoing procedures for comprehensive banking reform and the regulation of foreign trade financing and the transition from the electronic platform to direct interaction between our banks and correspondent banks . Al-Nasiri emphasized in a televised talk followed by "Economy News", that "the exchange rate that is announced as the parallel price does not express a price fact ، Because Iraq does not apply to it the state of the parallel market, which is achieved only when it has sources of dollars and currencies other than the central bank, such as private sector exports, remittances of residents abroad, tourism, etc"، Rather, it is a black market for speculators who lost their ability to manipulate and illicit speculation 3 months ago. The inventory of the sale and distribution of the cash dollar and a tight mechanism praised by the International Monetary Fund and the US Treasury as a method and application Successful and advanced to control the stability of the US dollar exchange rate and make the sales of the cash dollar at the lowest level, and therefore trading from it does not make it available for speculation in the parallel market ". He stated that "we should look at the price at which the central bank covers all external operations from personal revenues and transfers, which explains the stability of prices in terms of the current inflation rate, which is in a range less than 2.5% It is less than the inflation rates in neighboring countries, and this means that the central bank has achieved two basic objectives of monetary policy "that are controlling exchange rates and reducing inflation ، This confirms that the prudent monetary policy adopted by the Central Bank contributed mainly to the stability of the exchange rate and the decline of the parallel market to the lowest possible extent . Al-Nasiri concluded that the Central Bank’s insistence and cooperation with the government during the second half of the current year will lead to a gradual decline in the US dollar exchange rate and the departure of the 1940’s borders towards the official exchange rate limits .