XRP Pair with Iraq Dinar (IQD) Ignites Speculation on the Growth of XRP In Iraq and the Country’s Recovery
In recent developments, Ripple appeared unperturbed about the possible outcome of its protracted lawsuit with the United States Securities and Exchange Commission (SEC). The cross-border crypto firm has continued to grab headlines in the crypto sphere with its salient moves to propel XRP’s growth further.
In the latest update, proponents seem to speculate that the cross-border token’s growing prominence might soon extend into the Middle Eastern country of Iraq.
Origin Of XRP’s Latest Sentiment
XRP’s newest bullish sentiment reportedly stemmed from a tweet about XRP’s growing popularity by a pseudonymous Twitter account that goes with the screen name Boncryp Digital Asset Advocate.
*You can clearly see #XRP Paired with #IQD in a #forex site. *After two decades #Iraq is at last showing signs of recovery, #Baghdad, the capital, is creating a New Central Bank (#CBI) Headquarters. #XRPCommunity
From what we could gather from the tweet, the Twitter user appears to call followers’ attention to a pair on a forex trading platform featuring XRP against the Iraqi dinar (IQD), implying that the Iraqi government could be tending towards adopting financial inclusion for its citizens.
A Closer Look Of The Data
Based on a more in-depth study of the shared chart, we discovered the chart was curled from Barchart.com, a top financial data firm with a wide range of services, focusing on investments and financial markets.
In addition, the financial firm is well-equipped with a comprehensive collection of crucial financial market data ranging from charts, quotes, market analysis, and technical indicators; this impressive set of data has made the availability of an XRP/IQD possible in addition to hosting IQD quotes against other crypto assets such as BTC and ETH.
Read Also: Ripple CTO Responds to Allegations that Ripple Paid Six Exchanges $1M – $5M to List XRP
Implications Of The New Development
XRP/IQD’s existence on forex sites like Barchart.com might not necessarily indicate tremendous progress. However, it could manifest XRP’s rising recognition in the crypto sphere, especially in places where IQD got widely adopted, expanding and diversifying market and trading opportunities.
Meanwhile, despite the strict restrictions on crypto activities by the Iraqi government, in 2017, cryptocurrency projects seemed to creep into the nation. The emergence of brokers like Kurdcoin has made XRP and other crypto assets readily accessible to the nation’s citizens.
A testimony of XRP’s penetration of the Iraqi market is data from Google Trends, exposing a spike in XRP interest among the Iraqi populace in late June.
from social media no article yet Basem Al-Awadi: (he is the government spokesman he gave a speech and said) The budget funds will be released 10 days from now
The Sudanese government reveals a committee to study the laws before they are sent for legislation
A spokesman for the Iraqi government, Basem Al-Awadi, explained the details of the work of the Supreme Committee to restructure the Iraqi state apparatus, indicating that changes in positions in state institutions come according to a deliberate strategy, while announcing at the same time the formation of a tripartite committee to study laws and write their legislation before sending them to parliament.
Al-Awadi said in a statement to the official news agency: "Most of the decisions issued by the government during the past months regarding administrative arrangements came in accordance with a well-studied strategy," noting that "the recent changes in security positions came after an evaluation of the general managers, and the prime minister confirmed that the evaluation is continuing." He added
. , that "the Council of Ministers formed, in one of its sessions three weeks ago, a supreme committee to restructure the Iraqi state apparatus, which is headed by the Prime Minister and accompanied by a group of ministers," indicating, "The committee will result in merging, deleting, adding, and creating institutions."
Regarding the recent security changes, Al-Awadi said, "The security changes aim at modernization and pumping new blood after transferring the leaders of the security services to the National Security Adviser to benefit from their long experience."
And about the formation of a committee to set priorities in draft laws in the cabinet session that was held yesterday, between Al-Awadi, that “the council formed a tripartite committee of three very important parties concerned with studying laws and writing their legislation before sending them to Parliament,” noting that “the committee will take place within two weeks.” Only by sifting through the decisions in Parliament that are not voted on or that must be sent to Parliament quickly and prioritize them.
Al-Awadi explained, "The government's priorities are decisions that provide service and are concerned with unemployment, poverty, fighting corruption, services and administrative reform, as well as the oil and gas law and some other important decisions that this committee undertook to study and present a brief paper on within a two-week period."
Regarding the appointments of the Elite Channel, Al-Awadi pointed out that, "The Elite Channel includes students who obtain an average of 90 or more, and their averages do not qualify them to enter the faculties of medicine and engineering in higher specializations, but these are classified as smart," explaining, "In order not to violate their rights, the Ministry of Education chose Education is within the range of 4-6 important specializations, and a channel was launched under the name of the elite channel, so that these students apply to it, and then they are appointed in those specializations.
He stressed, "The Cabinet's decision regarding appointments to Al-Nukhba TV, which was issued yesterday, gave these students priority and preference in appointment."
Expectations that the dollar will fall by 3 thousand dinars within days..and the reason?
On Friday, the Sulaymaniyah dollar market suggested that the price of the dollar would drop by 3 thousand dinars in the coming days.
The market's spokesman, Jabbar Goran, told Kurdish media, followed by "Nass" (July 7, 2023), that "the price of the dollar is expected to decline by 3,000 dinars in the coming days, and the exchange rate of $100 will reach less than 145,000 dinars."
The exchange rate of the US dollar against the Iraqi dinar today, Friday, was 147.250 dinars, compared to 100 dollars.
Goran explained, "If the Central Bank's decisions are fully implemented, the impact will be significant, because many of the previous decisions were not implemented, otherwise the dollar would be less than 138,000 dinars, and the bank's new decision will enter into force on Sunday."
Al-Hakim and Rashid stress the economic challenge and the need to leave the rentier state
The head of the National State Forces Alliance, Mr. Al-Hakim, received the President of the Republic, Abd al-Latif Rashid, and they exchanged conversations about developments in the political scene in Iraq and the region and the role that Iraq plays in bringing the views of the parties closer together in a way that serves the countries of the region and achieves the interests of their people as well as Discuss climate changes and water scarcity and ways to overcome them.
Al-Hakim stressed during the meeting, according to a statement from his office, of which {Euphrates News} received a copy, that "the current stability is the result of the sacrifices and blood made by the Iraqis of all components," noting that "preserving stability and moving it from its current stage to the stage of permanent stability is everyone's responsibility."
They also stressed that "Iraq has overcome many problems, including the image of Iraq regionally and internationally, as the world today looks at Iraq with high respect and appreciation, and this is what will contribute to the flow of investments and capital to Iraq.
We indicated that the next challenge is an economic challenge centered on leaving the rentier state to the productive and diversified country, They stressed the activation of productive sectors such as agriculture, industry, tourism, investment and technology.
Parliamentary Finance Committee: The government will win the appeals case against the budget law
The Parliamentary Finance Committee confirmed, today, Friday, that the government's appeals against the budget law are realistic, especially in some paragraphs in which the House of Representatives exceeded its powers by placing it.
Committee member Jamal Cougar said in a press interview, "The government's approach to the Federal Court to challenge some budget articles takes place in all countries of the world, and that the House of Representatives has the right to legislate what it deems appropriate from laws, and other authorities, whether executive or judicial, have the right to appeal." In it, and this is what happened to 12 articles and paragraphs that were included by the House of Representatives in the Financial Budget Law.
Cougar added, "The government's appeals are realistic, because the House of Representatives exceeded in some paragraphs its powers, especially in the articles that were challenged, adding that there was no consensus in the Finance Committee on those paragraphs, but they were passed by a simple majority vote."
He pointed out that "the government relied on two issues, namely the government program that Parliament voted on and turned into something like a law, as well as the issue of separation of powers, which means that any paragraph that has a financial cost is exclusively within the powers of the executive body."
And Cougar suggested that "the government will win all appeals, because" unfortunately, the deputy's job has become to make promises to his fans about appointments and jobs, and this is not his prerogative. Therefore, resorting to the Federal Court is the right way before the government.
Al-Rafidain: Collection of cash deposits, credits and guarantees in Iraqi dinars
Al-Rafidain Bank announced, today, Thursday, that cash deposits, credits, and guarantees have been collected in Iraqi dinars.
And the bank’s media stated in a statement received (Baghdad Today), that “in line with government directives to deal in Iraqi dinars instead of dollars and to enhance its strength in the local market, Al-Rafidain Bank announces that all cash guarantees will be fulfilled in the Iraqi dinar currency exclusively for internal credits, bank guarantees and letters of guarantee issued.” For the benefit of government and private beneficiaries, even if the insurance is in dollars and at the official exchange rate.
The bank indicated that "the payment of the sums of the letters of guarantee upon confiscation shall be exclusively in the Iraqi dinar and at the official exchange rate as well."
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US prevented Iran from seizing two tankers: CENTCOM
ERBIL, Kurdistan Region - The US military said Wednesday it had prevented attempts by the Iranian navy to seize two commercial tankers in the Gulf of Oman, and that the latter had opened fire on a tanker in one case.
Iranian vessels was approaching the Marshall Islands-flagged oil tanker TRF Moss in international waters as well as Bahamian-flagged tanker Richmond Voyager, before turning back when a US destroyer arrived, the US Central Command said in a statement.
At 1 am local time, an Iranian vessel approached “TRF Moss in international waters in the Gulf of Oman. The Iranian vessel departed when U.S. Navy guided-missile destroyed USS McFaul (DDG 74) arrived on station,” according to the statement.
“Approximately Three hours later, the U.S. navy received a distress call” from Richmond Voyager, after which the destroyer McFaul made its way to the area “at maximum speed as the merchant tanker continued its transit” while being ordered by an Iranian vessel to stop, the statement added.
Before the American ship’s arrival, the Iranians had “fired multiple, long bursts from both small arms and crew-served weapons” but no casualties or significant material damages were recorded on the Richmond Voyager.
there are 2 tweets here but I can't copy and paste it
“I couldn’t be prouder of the entire [U.S. Naval Forces Central Command] team, especially the exceptional effort by the McFaul crew, for immediately responding and preventing another seizure,” said Vice Admiral Brad Cooper, commander of U.S. Naval Forces Central Command, U.S. 5th Fleet and Combined Maritime Forces. “We remain vigilant and ready to protect navigational rights in these critical waters.”
Tehran and Washington have had frequent altercations in the vicinity of the Gulf ever since the US tightened sanctions against Iran’s economy, particularly its oil exports.
In May, Iran said that it was closely monitoring the Persian Gulf after the US announced it would bolster its presence in the area by upscaling the rotation of ships and aircraft patrolling the vital Strait of Hormuz corridor to deter Iran.
“Since 2021, Iran has harassed, attacked or seized nearly 20 internationally flagged merchant vessels, presenting a clear threat to regional maritime security and the global economy,” Washington said.
Iran has repeatedly demanded the US to withdraw its forces from the region.
Last month, US and UK navies thwarted numerous Iranian fast-attack boats in the Strait of Hormuz who were harassing a merchant vessel, assessing that the vessels belonged to Iran’s Islamic Revolutionary Guard Corps (IRGC).
In January 2022, the US seized a “stateless” vessel transiting from Iran in the Gulf of Oman carrying explosive materials. The ship was stopped among a route infamously used to smuggle weapons to the Houthi rebels in Yemen.
In December, Iran’s navy briefly seized two US navy drone vessels in the Red Sea before releasing them the following day.
American and Iranian warships in the Persian Gulf had a tense encounter in April 2021, when an Iranian ship cut in front of the American ship, causing the vessel to stop abruptly.
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The Governor of the Central Bank of Iraq presides over a meeting with bank departments in Erbil
During the meeting, they discussed the affairs of the banking sector in the region and upgrading its work to keep pace with developments, enhance financial inclusion and spread the culture of electronic transactions.
What was presented by the Association of Iraqi Private Banks on the procedures related to the projects put forward by the Central Bank of Iraq during the past weeks, represented by the establishment of the Al-Riyadah Bank for Small Projects and the Loan Guarantee Company and the establishment of the Finance and Business Center, was also reviewed, praising the positive steps and progress made in them.
His Excellency had, on the sidelines of his visit to the region, visited the branch of the Central Bank in Erbil, and held a meeting with the General Manager of the branch, Mr. Kazem Namik Ahmed, and department officials, listening to the mechanism of the branch's work and the challenges facing its work.
His Excellency urged the branch's employees to work diligently, and to provide the best banking services to the residents of the geographical area that the branch supervises, directing the need to strengthen the supervisory and oversight position of the Central Bank over banks operating within its jurisdiction.
Media Office
10 - July - 2023
