Pimpy Another one I heard is they cannot become a member of The World Trade Organization unless they change their rate. That’s false…The World Trade Organization cannot tell another country what type of exchange rate to have. Every country is under their own sovereignty…Their central banks decide the exchange rate where it’s going to be free flowing or fixed. If it’s fixed they determine the rate but if it’s free flowing the market determines the rate of their currency. So no Iraq does not have to change their exchange rate because the World Trade Organization thinks it’s too low. That’s false. Vietnam is a member of the World Trade Organization and their currency is way cheaper than the Iraqi dinar…
Samson Article: “The Central Bank of Iraq’s foreign exchange reserves increased by nearly $100 billion.” Quote: “The bank’s foreign currency reserves rose to approximately $98 billion at the end of March 2025.”
Militia Man Maintaining foreign cash reserves the country has done a phenomenal job. They have 160 tons of gold…It covers 140% of their imports and local currency in circulation.
Clare Article: “PM Advisor: Iraq’s natural resources are worth more than $16 trillion” Quote: “Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq is moving towards diversifying its gross domestic product (GDP) sources by expanding investment in the mining sector, He noted that the value of Iraq’s natural resources exceeds $16 trillion.”
MarkZ [via PDK] Question: There is a banking holiday in Iraq from the 6 – 10! Cover for the RV? MarkZ: Yes we are coming up on an extended banking holiday in Iraq. My sources are seeing older lower denominations from the Saadam Hussein era in circulation. I was also told by one Iraqi whose spouse works in the banking industry that they are circulating a “cut-sheet” showing what the new lower denominations are going to look like in Iraq. That is a very good sign.
Walkingstick [Iraqi banking friend update] AKI: Much is happening with the IMF and the United States Treasury starting now. Your Mr. President Trump has a lot to do with this release, this engagement.
Sandy Ingram Iraq has been under increasing pressure to adopt…anti-money laundering and anti-terrorism financing rules. The United States insists unless Iraq fully complies with these standards, dollar transactions will remain restricted. The restriction on dollars is causing the IQD to fluctuate…More US dollars have ended up in the hands of Iranians. The Trump administration is bent on eliminating Iranian influence in Iraq by any means necessary. The Iraqi Prime Minister asked that the banking upgrades be made as quickly as possible…The parallel market rate is the cost of living rate for the Iraq people.
Pimpy Iraq still needs to continue to grow and getting away from relying on oil so much. We saw some growth in that area. We saw the percentage move from 96% reliant on oil sales in order to fund their government, I just saw it the other day, 92%. That’s a huge drop in reliance on oil but they still got to continue because any major shit in the oil prices could really screw Iraq big time.
Samson Article: “Economist: The dollar’s decline improves citizens’ living standards and monetary policy.” Quote: “Economic expert Salah Nouri confirmed that the continued decline in the dollar exchange rate carries with it multiple positives that are directly reflected in the lives of Iraqi citizens…The decline in the dollar exchange rate leads to a significant decline in import costs, which positively impacts commodity prices in local markets… Citizens will be able to purchase larger quantities of goods, especially basic food items and medicines, which will help alleviate their living pressures… The economic expert emphasized that this decline reflects a clear improvement in the monetary policy pursued by the Central Bank of Iraq, noting that it contributes to reducing dollar acquisitions and speculation, thereby enhancing overall economic stability in the country.”
Militia Man It’s been many month, a long time, that we’ve heard any talk about the World Trade Organization but they’re doing it again. I don’t think that’s a coincidence. It’s obvious Iraq is pushing to go and integrate into the international financial system…All of this is coming together quite beautifully. Article Quote “Iraq has made significant progress towards joining the World Trade Organization.” …Integration is inevitable as far as I can tell.
Clare Article: “Iraq is moving closer to WTO membership after completing comprehensive technical responses.” Quote: “Trade Minister Atheer Al Ghurairy revealed that Iraq has made significant progress on its path to joining the World Trade Organization, affirming Baghdad’s serious commitment and transparency in meeting the requirements of this important international process.”
Bruce [via WiserNow] ...we understand that we’re going to be getting notified either Friday or Saturday of this week…we did hear from one source …he’s the head of the redemption center in this area, and he said he does not go back in until noon on Friday…could be a possibility – that we receive notifications, Friday afternoon, set appointments, and start exchanges on Saturday, that’s what we hope because we have heard, we expect to get started this week…And the same person said that the rates on the screens…were amazing…They were fluctuating before, but they solidified…and we’ve got amazing rates, and everything’s really good to go for us…So that is very exciting…
MarkZ [via PDK] I’m going to tell a bank story but won’t give details so I don’t get anyone in trouble. This is from a Credit Union. The source is someone I know in my personal life. “Yesterday I got a call from a credit Union in Tennessee. They let me know they are a Redemption Center for all currencies except for Russian. I asked her “when”? and she said “soon”… She said That is why we called you now to let you know we are trained and ready. I specifically asked if the dinar and dong are included and she said “yes” . At the end of the conversation I asked if all we were waiting for is 800 numbers to make an appointment? She said Yes- I know you are. Her excitement was amazing”… Seeing the tellers and staff in regional banks and CU’s being trained makes me excited.