Thread: Iraq/Dinar News Before Febuary 12th, 2006

Originally Posted by Cdn Scrooge

Yes, it is their weird (to us north americans anyway) way of expressing numbers, but if you read it out loud it is 32 thousand two hundred million which is 32.2 billion and 42 million 640 thousand million which is 42.640 trillion. I would love to be wrong but I don't think I am. If both figures were supposed to be representing billions then the dinar one would have been stated as 42,640 million, not 42,640,000 million.

The simple fact that one number has 3 extra zeros says they are not that close to each other. At least not as close as they would be if one was 42.64 billion and the other was 32.2 billion.

Granted this is only my opinion and I could be wrong.

I am discussing with my hubby right now the exact thing you just said! He is in agreement with you (by the way we were discussing this BEFORE I read this post.) But maybe the silver lining is that here is where the removing 3 zeros come in.

Cheers!
DayDream

Originally Posted by cigarman

I've read that the budget has passed and now they can go vacation, but a previous article stated that they were to stay and finish all the laws (HCL) included. So, by this last article stating that they can leave it means one of two things, either the HCL is done or they are staying past the 10th to pass it or it will be passed by the 10th. Sound crazy? This weekend ought to be exciting!!! Maybe the 11th has some legs now, what ya think?

I agree. I read that they are staying past the 10th until all required legislation is passed. Don't forget also that there is supposed to be some kind of public presentation of the HCL on the 10th. I would think that it will have to be passed by then.

I'm hoping that this weekend will bring us some really good news.

Originally Posted by DayDream

I am discussing with my hubby right now the exact thing you just said! He is in agreement with you (by the way we were discussing this BEFORE I read this post.) But maybe the silver lining is that here is where the removing 3 zeros come in.

Cheers!
DayDream

I sure hope you are right about that. If they removed the 3 zeros then 42.64 billion NID = 32.2 billion USD. That would mean 1.33 NID = 1 USD. That would mean 1 NID = .76 USD. I'll would be happy with that as a starting point.

Originally Posted by Cdn Scrooge

I sure hope you are right about that. If they removed the 3 zeros then 42.64 billion NID = 32.2 billion USD. That would mean 1.33 NID = 1 USD. That would mean 1 NID = .76 USD. I'll would be happy with that as a starting point.

I COMPLETLY AGREE, I think you are right on the money...... Looking forward to this weekend, stoping by CHASE too. Will post the rate of exchanges on SAT.....

The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.

What does this mean? Taken from cdn scrooge's article

Originally Posted by cashNsoon

2007 Budget Passed!!
About time!
---------------------------
Thursday, February 08, 2007

Voices of Iraq: Parliament-Session-Update 1
Posted by: saleem on Thursday, February 08, 2007 - 10:04 PM

Parliament-Session-Update 1
Parliament passes 2007 national budget
By Santa Michael
Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday a ID 42,640,000 million (USD 32,200 million) FY 2007 budget.
The budget approval was delayed for almost two weeks for differences among major blocs over two issues, the financial appropriations for the three presidencies and allocations for Iraq's Kurdistan region's guards (peshmerga).
The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.
Earlier, the parliament speaker today's ordered a private session to give the defense minister, who was present at the session, a chance to answer lawmaker's enquiries openly.
Some legislators asked the Speaker to declare a private session so that the defense minister could answer all enquiries without harming any classified information that he might be mentioning during the session.
Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.
Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget.


FOUND ON INVESTORS HUB..................THIS MEANS TO ME 1 DINAR IS WORTH APPOX: 75 CENTS???????????? ANY THOUGHTS

Snagged me too, CashN, at first. I know the Brits define, I think it's a billion, differently than we do, so I was curious too. But if you work it out, we are dealing with an exchange rate of roughly .0007619 USD for 1 IQD.

Scott

Originally Posted by cashNsoon

2007 Budget Passed!!
About time!
---------------------------
Thursday, February 08, 2007

Voices of Iraq: Parliament-Session-Update 1
Posted by: saleem on Thursday, February 08, 2007 - 10:04 PM

Parliament-Session-Update 1
Parliament passes 2007 national budget
By Santa Michael
Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday a ID 42,640,000 million (USD 32,200 million) FY 2007 budget.
The budget approval was delayed for almost two weeks for differences among major blocs over two issues, the financial appropriations for the three presidencies and allocations for Iraq's Kurdistan region's guards (peshmerga).
The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.
Earlier, the parliament speaker today's ordered a private session to give the defense minister, who was present at the session, a chance to answer lawmaker's enquiries openly.
Some legislators asked the Speaker to declare a private session so that the defense minister could answer all enquiries without harming any classified information that he might be mentioning during the session.
Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.
Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget.


FOUND ON INVESTORS HUB..................THIS MEANS TO ME 1 DINAR IS WORTH APPOX: 75 CENTS???????????? ANY THOUGHTS

Hi, so what does it mean for us in cashing in our dinars ? Do we have wait for the HCL and FIL to be approved before we can go to our banks ?

Thanks in advance.

Number of banks 14 -----
Auction price selling dinar / US $ 1288 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 63.200.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 63.200.000 -----
Total offers for selling (US $) ----- -----

...hmm....

?wtf?

Originally Posted by Hkp

Hi, so what does it mean for us in cashing in our dinars ? Do we have wait for the HCL and FIL to be approved before we can go to our banks ?

Thanks in advance.

MOF will enter the Bidding for IQD to pay for all the Projects now that the Budget is approved!!

Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget.