Thread: IMF April 30, 2007

Originally Posted by screwball

NENO: That rate for April was not there a week ago because I have been waiting for them to update it! I am wondering if they have update the VND IMF rate as well because I was also waiting on this!

I had to play around with a Old Post Link to get the Update. I have a few friends that let this be known. But I keep getting the one with out the April 07 rate. then I just changed a couple dates and finally it came up. And I know it wasn't there as 5-7-07. That was a link bookmarked. As you can see it is NOW!!!

Originally Posted by neno

I had to play around with a Old Post Link to get the Update. I have a few friends that let this be known. But I keep getting the one with out the April 07 rate. then I just changed a couple dates and finally it came up. And I know it wasn't there as 5-7-07. That was a link bookmarked. As you can see it is NOW!!!

NENO: I have to apologise! You didnt post this! Webinvestor did. You can go to post 585 but here is his original post!

13-03-2007, 02:52 AM
webinvestor
Investor Join Date: Jul 2005
Location: Taiwan
Posts: 400



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Quote:
Originally Posted by stargate-sg13
The Saudi Riyal is $3.74 to the dollar. I know someone explained how they figure their currency using FILS I think. But anyway if you look it up on a currency converter you'll see what I mean.

JK

Iraq uses FILS as well. Fils are a subdivision of currency. Think of them as pennies. Arab countries use 100 fils (pennies) or 1000 fils (pennies). Iraq uses 1000 fils. So does Kuwait and Jordan. The UAE, Yemen and Saudi Arabia use 100... however one small difference still. The Riyal subunits are hallalah, not fils. Clear as mud?

I will do the calls early tomorrow on the way back after the Graduation. Maybe you guys can dig up something before then. Got to get some sleep. Good Luck with this as it could be very well a good indicator.

30-04-2007, 06:33 PM
Adster
Senior Investor Join Date: Jun 2005
Posts: 5,550



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Quote:
Originally Posted by Chris&Dana
Adster,

I see in your sig the quotes about the Dinar returning to previous levels, and strengthening, etc. I realized that 5:1 was not plausible. It has been my opinion that the "previous levels" would be the $0.31 (I think that is the figure) that the currency was valued at after the invasion. Is that your feeling as well or do you think this thing could actually go to 1:1 or over. I realize this is all guess work, but from what I have read in the forum, at least your guesses (and others like Neno, etc) are EDUCATED guesses so that counts for something in my book. Also, and I know I can research it and don't mind, but since you quoted it, when were these statements made? Thanks!!

Chris


Hi Chris, good to hear from you,

The rate they intend to get back to is $3.22, not initially but over time. A reval of $5 would totally crash and burn their Central Bank at a time when it is starting to strengthen! Not going to happen in a million years. They would be bankrupt overnight.

Go along with an initial rate of around 1 to 1. Perfectly feasable and realistic. We know they want to dedollarize so they must have a currency on a par or stronger than the dollar. 1 to 1 would give them plenty of purchasing power, something they need asap.

Have a look at this showing the history of the dinar.

Soon folks, but not yet.

History of Iraqi Dinar and Iraq Dinar Stock Exchange

1932Currency unit consisting of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the Iraqi dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86. 1932–1949
1949–1971Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80 between 1949 and 1971. 1959–1967Iraq officially uncoupled the Iraqi Dinar from the pound sterling as a gesture of independence in 1959, but the Iraqi dinar remained at parity with the pound until the British unit of currency was again devalued in 1967. 1971One Iraqi dinar remained equal to US$2.80 until December 1971, when major realignments of world currencies began. 1973Upon the devaluation of the United States dollar in 1973, the Iraqi Dinar appreciated to US$3.39. 1980It remained at this level until the outbreak of the Iran-Iraq War in 1980. 1982In 1982 Iraq devalued the dinar by 5 percent, to a value equal to US$3.22, and sustained this official exchange rate without additional devaluation despite mounting debt. 1988In early 1988, the official dinar-dollar exchange rate was still Iraqi dinar (ID)1 to US$3.22; however, with estimates of the nation’s inflation rate ranging from 25 percent to 50 percent per year in 1985 and 1986, the dinar’s real transaction value, or black market exchange rate, was far lower-only about half the 1986 official rate. 1986–20031986–2003 between .33 cents to 1.32 to a dollar. 2001Oil-production: 2.452 million bbl/day (2001 est.); note — production was disrupted as a result of the March-April 2003 war (2001 est.) 2002GDP: purchasing power parity — $58 billion (2002 est.) 2002Exports–partners:US 40.9%, Canada 8.2%, France 8.2%, Jordan 7.5%, Netherlands 6.4%, Italy 5.4%, Morocco 4.7%, Spain 4.4% (2002) 2003In october 2003, the official Dinar-dollar exchange rate was ID1 to US$0.00027. 2004–2005August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 est.) 2006As of Jan 1st 2006, the official Iraqi dinar-US dollar exchange rate is ID1 to US$$0.00067.
__________________
Zubaidi:Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states.


Shabibi:The bank wants as a means to affect the economic and monetary policy by making the dinar a valuable and powerful.

Originally Posted by neno

I just didn't remember. LOTS of WATER on the BRIDGE Lately. If this is the case then the figure from that rate lifting the 3 zeros would diffently be .19 Now we just wait and Pray that this is it. Amazing that the IMF has just put this in their file. It wasn't there as of 5-7-07 that I know for sure.

OK. I'll ask the STUPID question...(I know many of you are thinking the same)

Neno, did you mean ?
1 IQD = .19 USD (I think this is what your saying)
or .19 IQD = 1 USD (or our infamous $5.26)

BTW, congrats on your dauughter graduating.

Dinarstars
:cheers

Originally Posted by neno

I just didn't remember. LOTS of WATER on the BRIDGE Lately. If this is the case then the figure from that rate lifting the 3 zeros would diffently be .19 Now we just wait and Pray that this is it. Amazing that the IMF has just put this in their file. It wasn't there as of 5-7-07 that I know for sure.

.19 works for me...multi-millionaire!!

Originally Posted by danny51

.19 works for me...multi-millionaire!!

.19 IQD = 1 USD (or our infamous $5.26) Isnt this the famous figure that was on Safe dinars website???

Originally Posted by neno

I will do the calls early tomorrow on the way back after the Graduation. Maybe you guys can dig up something before then. Got to get some sleep. Good Luck with this as it could be very well a good indicator.

According to Wiki-what-ever-they're called . . .

The dinar (Arabic: دينار, ISO 4217: IQD, pronounced: di-'när) is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1000 fils (فلس), although inflation has rendered the fils obsolete.

Best . . . RR . . .

Originally Posted by RollsRoyce

According to Wiki-what-ever-they're called . . .

The dinar (Arabic: دينار, ISO 4217: IQD, pronounced: di-'när) is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1000 fils (فلس), although inflation has rendered the fils obsolete.

Best . . . RR . . .

So is 1000FILS still it? or what?

Originally Posted by screwball

So is 1000FILS still it? or what?

As far as I'm aware . . . it has never been changed . . . No one I know even mentions them in conversation . . . that being said, the next time I talk to Indy I'll have her ask one of her Brothers or Uncle . . .

Best . . . RR . . .