AJ 📢Iraq Parallel - Prices Decline in Baghdad 1,412 IQD and Erbil 1,410 IQD.

  AJ

Iraq Parallel - Prices Decline in Baghdad 1,412 IQD and Erbil 1,410 IQD.

Market experts attribute the dip to multiple converging factors. Per Iraq News. First, the Central Bank of Iraq has increased oversight of currency flows.Authorities aim to reduce smuggling and unauthorized transactions, particularly those affecting dollar circulation. Second, traders now anticipate more consistent dollar availability, which eases demand pressure in physical currency markets. Additionally, international developments influence Iraq’s dollar pricing. For example, fluctuations in US monetary policy, regional oil revenues, and broader geopolitical movements all weigh on local sentiment. Traders must respond quickly to global cues, adjusting rates to reflect both risk and opportunity. Many consumers and businesses welcome the lower dollar prices in Baghdad and Erbil. Reduced exchange rates often mean more affordable goods for importers, especially in sectors like electronics, medicine, and vehicle parts. However, market watchers remain cautious, noting that any unexpected shortage could reverse the downward movement quickly. Despite uncertainties, the Iraqi dinar showed moderate strength in the latest trading cycle. Retailers and investors continue to monitor conditions closely, ready to respond to new policy signals or international developments that may affect exchange rates.

MNT GOAT: Let’s hope they finally take up the Oil and Gas Law again

MNT GOAT: Let’s hope they finally take up the Oil and Gas Law again

 Mnt Goat  

 “WHERE ARE THE 2025 BUDGET SCHEDULES? PROJECTS ARE SUSPENDED, PLANS ARE POSTPONED, AND PARLIAMENT HOLDS THE GOVERNMENT ACCOUNTABLE” 

  No, the RV rate in not in these budget tables as a reason to hold them up that they don’t want us to see until they are ready to RV... Again, any revaluation of the Iraqi dinar will be announced and we don’t need to go fishing through some budget tables to find it, if it could even be there..

The House of Representatives will hold its first session of the second legislative term for 2025 on Saturday. Let’s hope they finally take up the Oil and Gas Law again. We know they will take up the issue of the Budget Tables... we still see the CBI trucking again and making movement towards its final destination of the reinstatement of the dinar to a global status (FOREX).

 It is like these other issues, although are very important, feel like just distractions but we know they can also affect the monetary process and should be resolved for stability.

American Magazine: Iraq Quietly Re-Enters International Trade

American Magazine: Iraq Quietly Re-Enters International Trade

 
Money and Business   A report by the American economic analysis magazine Procurement Magazine
examined the significant economic and geopolitical benefits and returns of the Iraqi Development Road initiative, extending from the Grand Faw Port to the Turkish border.
 
The report noted that it will be a viable alternative to other trade channels,  competing with them in terms of shorter distances and lower costs,  transforming the country into a regional logistics hub while creating a multi-source economy beyond oil alone.

The report notes that Iraq's Development Road project represents a transformative $17 billion infrastructure initiative aimed at connecting the Gulf to Europe.
 
With global shipping facing challenges stemming from regional instability and bottlenecks such as the Suez Canal,  Iraq is quietly redefining its role in international trade.
 
This logistics corridor,  stretching from the Grand Faw Port in southern Iraq to the Turkish border,
represents a strategic alternative that will reshape supply and transportation chains between Asia and Europe.
 
This major project has been described as "one of the most important infrastructure projects in Iraq since the 1920s."
 
This faster route delivers direct benefits to procurement by  enabling faster supply routes,  reducing storage costs, and  improving responsiveness to market changes.
 
The global importance of Iraq's development route has been highlighted amid the ongoing Red Sea crisis, exacerbated by conflicts in the Middle East, where shipping delays have become commonplace.
 
In this context, the Iraqi land corridor offers a practical alternative.
 
In recent weeks,  truck drivers from Poland and Germany have completed journeys from Europe to the Gulf via Iraq in just ten days,   less than half the time required by sea through the Suez Canal.
 
The journey from Turkey to Kuwait now takes just seven days, and digital border crossings have reduced waiting times by 92%.
 
The TIR (Terrestrial International Transports International) system, which ensures the safe and efficient movement of goods across borders, is already operational, enhancing the flow of cross-border procurement and supply chains.
 
Hamad Al-Hakim, a transport infrastructure expert at the University of Baghdad, told the Middle East Observer earlier this year:
 
“The development road is expected to become a vital trade corridor, not only for Iraq but for the entire region.

By connecting the Gulf to Europe via Turkey,  it will serve as a new Silk Road,  revitalizing ancient trade routes and  promoting economic integration.”
 
This corridor provides a practical alternative to the Suez Canal, meaning  greater route   diversification and a  reduced risk of disruption, thus  ensuring more reliable supply chains.
 
At the heart of the Iraq Development Road project is the Grand Faw Port, currently under construction in the city of Al-Faw.
 
This deep-water port features the world's longest breakwater, at 14.5 kilometers long, and is expected to    handle 7.5 million containers annually, capable of  receiving the world's largest container ships.
 
A 1,200-kilometer road and railway extend from the port to Turkey, and the project is expected to be fully operational by 2028.
 
In addition to the transportation infrastructure, the project plans to develop at least ten new cities along the railway route, along with several industrial zones and logistics centers. The development of these areas will provide new opportunities for local supply.
 
The development road is not just a logistics project; it represents a geopolitical transformation,
charting Iraq's transformation from a war-torn country to a pivotal regional link.
 
The project is supported by Turkey, Qatar, and the United Arab Emirates,
who recognize its potential to boost regional trade and reduce reliance on vulnerable maritime routes.
 
Kurdistan Region President Nechirvan Barzani said of the project:
 
"The Development Road Project represents a crucial step towards building a  more stable and prosperous Iraq, based on a  diversified economy and enhancing regional cooperation with neighboring countries."
 
Türkiye's participation is pivotal, as it represents the northern endpoint of the corridor,
which will connect to Europe via the cities of Mersin and Istanbul.
 
"The project provides a catalyst for economic prosperity that can benefit the entire region," said Ranj Alaaldin, a fellow at the Middle East Council on International Affairs.

As global trade networks seek to bolster their resilience in the face of geopolitical volatility,
 
Iraq is proving to offer not just a backup plan but potentially a major new artery for trade.
 
This project will redraw the region's economic map, transforming Iraq into an alternative trade artery at the heart of Eurasia.
 
This means transforming the country from an importer of opportunities to an exporter of corridors,
creating a diversified economy that moves away from its reliance on oil alone.
 
About Procurement Magazine  Quoted from Al Mada newspaper views 342  https://economy-news.net/content.php?id=57214

BANK STORY: THE NEW US DOLLARS: They are on their way now!!

Greyeagle1 wrote: 

  Bank Story from a trusted friend: My friend has had a bank account at this bank for over 30 years. Knows everybody by first name. 

They know her by her first name. She got a notice from the bank that they would be closed from Wednesday at closing on July 9, 2025 until Monday morning July 14, 2025. 

She went into the bank today and talked with senior loan manager whom she has known since he started. She asked why closing? Answer changing to new banking system

Q: Are you going to be doing foreign currency exchanges? A: I cant tell you that.

 Then she went to the head bank manager whom she has known for 30 years. 

Q: Why are you closing? Answer : changing to new banking system.

Q:  Is it QFS? A: gave some other name. 

Q: are you Basil 3 compliant? A: We will be by Monday.

Q: Are you going to have the new US Dollars? A: They are on their way now. 

Q: Are you under an NDA? A: Yes.