Thread: Iraq/Dinar News. Before Feb. 21, 2007

التشيكيةEconomic adviser in the Czech foreign

قبل السقوطEconomic reality before falling

بدءا وجب.Starting must point out the difficulty of addressing the reality and prospects economic development in Iraq during the last decades Yen, or in the four years after the fall This is due to the scarcity and accuracy of statistical data, or because of previously disclosed for reasons of course the ousted regime. كما ان.The difficulty of determining the size of the destruction of the infrastructure of the infrastructure of the national economy due to the irresponsible policy of and what has been stated from the destruction and vandalism in the production environment and investment in Iraq after falling more difficult a for the analysis.

من احد.It is known that the people of Iraq and the national economy the human and material losses could be referred to grave in passing, to show a modest picture of the prospects Alaqet Sadeh, specifically in relation to the size of domestic production. the rate of inflation, the volume of unemployment and indicators of production and consumption and Altoz Regrettably, and the volume of foreign investments coming future. all this in the context of privatization, which will take him far a in economic policy, Risk can not be underestimated at the level of the structure, Ana this structural economy and the level of standard of living t per capita.

نجمل:Here outline the material and human losses in Iraq Tel e contracts as follows :
- – 1988Iraq - loss of the basket of hard currencies, including the estimated j near 40 billion dollars during the Iraqi-Airbus current 1980 - 1988
- عدم لةNon-profit from the benefits of the composite basket of currencies in the event difficult to develop such a huge reserve in coffee K1 world at the time, The estimated loss is more than 80 billion dollars by now behind the tractor and unsuccessful wars
- - Spend more than $ 100 billion on arms purchases i two nights
- - Indebted Iraq as a result of war against Iran amounted to 80 carefully $ t
- وللدفاع- And for the defense of the gate, "East" led by Salud Yeh and Kuwait to Iraq one billion dollars over the past month the Iraqi-Iranian war
- الى .The Saudi-marketing 300 thousand barrels of oil daily j global markets on behalf of Iraq. amounts have been converted to Saddam Hussein. 5 .The arithmetic of Iraq got 2.7 billion dollars in usage In the 1983 m in 1984 Iraq had 3, five billion dollars. اما في.In 1985 Iraq had obtained 3, two billion dollars in 1986, it amounted to what happened in Ar pw is 3.9 billion dollars. لقد – 1989 ما ..Iraq has obtained from 1980 - 1986, a total of 37, three billion dollars in 1989 and 1988-a total of 12 billion de Laar. حربتتبع.Leave the sum of the loss for a period of eight years of war gather tracking.
- خليج)- The total cost of the Gulf War, estimated at 450 billion States R (for further details, see the Rifaat Sayed Ahmed Al-story Bay)
- دولار- The total cost of the destruction of economic and a halt exports for oil and other post-Fall estimated to be over 500 billion $
- )- Two of the top of the old regime in 1980 and 1990, any within ten years, the mission to Iraq, the equivalent of 2000 billion dollars (Alpha Mile TR dollars)
- الرافدين.Continuous-compensation of those affected are still Tstens P lot of Iraq's imports at the expense of the brilliance Shi for an Iraqi at the expense of economic development P j land of Iraq.

السقوطEconomic realities after the fall

والحديث .And talk about the economic realities of Iraq after the fall , the other is more difficult because of the inability of the state institutions affiliated event , or control the changing of the structure of the national economy n Walleja mass and disability caused more than detailed joints Economic act or mutilation, who accompanied the public life of a community the Iraqi family and Iraqi specifically. وكما .As is diagnosed early every economic, What is circulated worldwide, is that the standard of political legitimacy and the credibility of the work and the political activity of the national forces within and outside the government, protected the S and the size of the economic benefits of the gains achieved Might j level of income per capita and living in the development sensed Dame for the whole community, which leads us to emphasize the importance of the link between Allen Chat political and economic reactions.

وكما.As is also common, The concept of the modern economy in the contemporary build a limited lei specific leading to the rational exploitation of Moar d capabilities and productivity of natural and human (RATI ONAL EXPLOITATION) in order to achieve growth rates appropriate e in the context of sustainable development.

في ذات الوطني.In the same context, and equitable for what is right for history, to be emphasized that the complicated political conditions in MI birth installed Iraqi state and the accompanying of confrontation T. terrorist sabotage destroyed much of the pain Almertkoat with the development of the national economic. كمال السقوط.We also find that the forces worked and is still working to bring down the practical e Political and still living the dream of returning to Iraq Qubb l fall. انالاثنية والدينية.This vandalism, This position acts of violence against citizens, the right to own e business service and productivity, One of the most important factors lag in the implementation of development programs e for the benefit of society and all Iraqi ethnic and religious groups. للمواطن.This has also led to the creation of a non-productive to the success of Almusa to watch for Iraq and a collaborator with a solid national economy Wisseh m to improve the living standard of citizens.

وبعيدا عن :And away from the political side, Before embarking on research on the privatization process, I should mention to the central concepts and established rules concerning the economic development, which includes two basic Imad economics and reference Tnazirih to ensure survived h privatization process :

الأولى:First :
تشمل الخارجية.Includes Micro Aikonmek (macroeconomic) and struck among general indicators that would determine the features major economic policy of the State, such as the output c, operating, price-inflation and foreign trade relations.

الثانية:Two :
تشمل .Natal include Aikonmek (microeconomic or tide mob), a vital aspect in the knowledge economy, determined according to the overall economic policy indicators, issues such as production, income, wages and profits.

هاتان .These groups constitute the framework of the economy national and define mechanisms for the implementation of the privatization process and the way the economic reform actor and comfortable at the level of rates, Alan mo and at the level of the standard of living of the society, in particular the standard of living of the individual in the business or factory Musham AIPAC process of structural reform in the context of Alaghtasse privatization-led Assembly.

ان الاقتصادي.The entrance to the theme of privatization in Iraq requires metabolism a reference to the role of the state and pursued the relationship, such as e a role in supporting the private sector to meet the needs of Almejtm p and the potential capacity to generate the requisite AT economic growth. أن منالبلاد.One of the most important activities undertaken by the State m n through their economic policies are the mechanisms that Tena it got through monetary and financial policy actor e Ataram to identify and clear-cut laws and Altcher Eat and regulations that govern development factors and the pillars Ha basic and affordable in the country. كما لآخر.It also was necessary to determine the ultimate goal of inflation control changes resulting from the repercussions that may arise from the economic platform time to time.
لسنا سواء .We are not here to discuss the monetary and financial policies, which coordinates request a separate study and extensive, as the search here is restricted benefits and the implications of the work Yeh privatization in Iraq after the identification of components only Qatsadeh of Iraq, and the ability to undertake reforms that are not inconsistent with Tum Hate and the individual and society alike.

اهم لعراقيThe most important components of the Iraqi economy

يتميز(Charactersti cs of Iraqi Economy) التنمية.The national economy is in Iraq (Charactersti cs of Iraqi Economy) in the development of many of its components elements of the development of semi-integrated unlike the rest of the economics of States that fall under the framework of the centers-of-Alaqet Sadeh major in the world and Almetboeh standing Waller Esih in the global economy, but lack of one or more elements of development. فمثلا الخ.For example, Japan lacks energy sources and the States, etc. Leger lacks water sources and fertile land M. since it lacks capital and so on. ومن الصينOne of the most important of these major groups : total oil and particularly the Gulf, the Group of Asian States, especially tigers, Group of industrial Europe, the United States, Japan and China

أما فهي:The main advantages of the Iraqi economy are :
1.1. لدى الخدميةIraq has fertile lands and enormous agricultural potential manipulation - day did not earn in concert with other sectors Alant Wagey and service
2.2. ولوجيا.Industrial production in Iraq is well-Altkn To Ojia. افسThis sector needs to be structurally view rehabilitation in order to fill the needs of society and thus the ability to Walton WAFS
3.3. توفر كشفةProvide capital needed for economic growth through the financial flows derived from the export of crude oil K1 so phosphate and raw materials industries, construction and the rest a for metals unexplored
4.4. توفر يةAvailability of skilled labor force to a degree of skill, The infrastructure and broad-based development in the field of power humankind
5.5. توفر الطاقةProvide sources of water for agricultural use and industry energy
6.6. امكانات ا لوطنيGreat potential for the tourism industry to promote the economy in a nationalist
وهلى :And in relation to the Huehuetenango, we find that there is a legitimate question poses the same e strongly for more than two decades and expressed :
هل قدمل؟.Are the organizers of the Iraqi economy and is p Why potential of the block or meet the aspirations of the individual or Almejtm p, Was it in Iraq and the economic system or a clear direction costing the economic system obliterate the collection of all the negative aspects of the theories global economic? What awaits the Iraqi individual in the the post-Collapse of economic policies to prevent Lennox AT and shrinkage, Will privatization in the framework of the market economy a solution to all the suffering of the living and economic backwardness in order to m it was a pre-Iraq contracts and better?.
اننا امام الانتاج.We face the most difficult to resolve Tnazirih orientation, Qatsadi offender because of the accumulation of the whole distorting Turk Eph economic, It was then disrupt the function of prices in the measurement of the efficiency of the productivity on the one hand and the dimensions of the pattern of production for the first and not the consumer, as well as the abolition of the profit factor in stimulating the effectiveness of production. كماوالتوزيع والتسويق.As well as the disruption of the loss factor in the failure to contain M. toured the production, distribution and marketing. الى:Switch or economic reform and the transition to due Y market and the application of privatization "positive" in the framework of supply and demand dependent on the role of the consumer to determine Alao Oyat of up to :
1.1. اشباعجتمعTo satisfy the basic needs of the community
2.2. rid of economic dependency through except Tva relatively self and dispensing with the many commodities The foreign service, which may increase the indebtedness of e Foreign and work as much as possible replacement products national replaced
3.3. على مضافةNon-reliance on the export of primary raw materials Kale oil and we mean the development of manufacturing industries instead of Alastcher Wagey for value-added
4.4. تلافي السلعيTo avoid distortions in the productive structures Y The diversity Commodity
5.5. عدم الاافسةNon-dependence on oil as the main source for financing Problems rents investment or as a head in the process output good view to opening up new prospects for manufacturing output side Tco n necessary for the industry to compete

في:As regards the goal desired by the application of the privatization Fe and lies in :
1.1. وفنياCorrect orientation depending on the economic sector of% Al-efficient financially and technically
2.2. حمايةof public money from waste resulting from the accumulation of Khasa Our institutions and projects a state disposal projects a the state of efficiency and profitability zero
3.3. رفع داريRaising the efficiency of the economic and administrative
4.4. توسيع الملكيةBroadening the base property
5.5. رفع اعRaising the level of productivity in the context of bridging the needs of society
6.6. زيادة الربحيةIncrease profitability
7.7. الرفع منتصديريةLifting of the export capacity

الاقتصادي.:The privatization and economic reform. :
لا .Not here must inform monitor what privatization and gold many of the economists from the definition or conceptualize, What we have so far is enough to identify the nature of the process of a the privatization and objectives. أما ي.As required in this context is to take precautions in light of the allusions to the contribution of foreign investments at the beginning of the reconstruction of Iraq and at the opening of every absurd y on the Iraqi market, especially those related to the production technology without taking into account uh Mia services as a catalyst for the transformation process Economy j.

ففي القومي.In many cases we find that the investments Alajenbe Yeh is able to play a positive role in accelerating and intensifying, levels of development in the case and directed towards the conversion industries Yeh feature of technology, which would a contributing to the increase in gross national product. ان على.Based on that study and achieve privatization reality of the pain Additional included on the list of the economic transformation that Wa familiar with all aspects of integrated economic, but Dareh-functional outputs and the nature and importance of Alaghtasse Wade, and the feasibility of privatization, The analysis of the financial situation - the recipient administrative m n privatization process, with the ability to meet the requirements to improve the efficiency of now Taj and marketing, and creating new manpower-efficient Almatalo by, as well as building new production lines of high technology e, , and other issues related to the overall efficiency of W R. economic strategy of the State in order to merge the private sector as reflecting a developmental side for the year to the country.
ان نجاح والبعيد.The success of the privatization process requires transformation of the transition economic system of totalitarian economy to an economy Els She was across multiple stages, jump on the joints, some might consider relevant Thano Yeh track which puts obstacles in front of difficult economic Tjau Sha in the medium and long term. كما ان .It would also be drawn to the fact that the private sector is not M. Ehle is to take the lead in ownership installations State-owned The reason lies in the weakness of the material and technical l the industrialists and owners of commercial occupations. مما .It requires material support and legislative significant state so can the private sector to play its positive role in AI h process of economic transformation and contribute to advancing a Development rather than a hindrance.
ان هي:The most important stages that must be the decision-makers on economic transformation leading to the success of the privatization process namely :
المرحلة الأولى:First stage :
ضرورةتحقيقه.The need for the restructuring of the master facilities with Tuzi p qualitative professionals and subjects the way we hope insulting with subsequent steps in the process of reform economy j and the requirements of social development to be achieved. وبخطتنفيذ المرحلة.The line parallel with the implementation of this phase must build the foundations the socio-economic relationship with the pace only Challenges in the implementation stage. ان من اهم.The most important of these principles is the principle of participation and pluralism in Put vocabulary broken-economic activities of the Walt going to the installation Awalmessh covered by the procedures of Privatization.
:Second stage :
البنية التحتية Infrastructu rre - - ويتم .The importance of broadening the base of infrastructure Infrastructu rre - - is the focus of investments across multiple Lallah a statement in the context of viable investments to speed up the building u Taking Note range of transportation and communications linking the governor AT villages and the countryside, double-building power stations, additional build bridges in the capital and other cities, Finally, and not increase from the stations and irrigation systems and dams K1 l money to expand mentioned at the industrial The agricultural and service in order to absorb a large proportion of for unemployment, and the operation of new opportunities for the labor market. أخذ.So can the private sector to take the initiative and raise weight physical and administrative burden on the State.
المرحلة الثالثة:Third stage :
اسورة.Expanded exploitation of the natural resources available and Almest detection and harnessed in the service and agricultural sectors manufacturers j with interest multiplier agricultural development of a service for the industrial sector and service fulfilling the needs of the population of Algza The automatic creation of a culture of farming keep pace with technological changes a for certified in advanced countries of the world.
:Fourth stage :
عند الاجتماعية.Upon reaching the stage of economic growth and rising growth in the agriculture and industry, the state plans to develop standards and help enterprises Almkhsch Sah to develop and support the export sector taking into Ala Tabarre importance of encouraging the private sector to get to market pain Navesh regional and international trade Pmma enhance tuberculosis e hard currencies used in a technology transfer to date, or to obtain the raw materials needed to bury R. certain industries or social services.

وكي.To be able to determine the philosophical framework in dealing with p Malé privatization and acceptance of the principle of economic openness The adoption of a market economy, We deem it necessary to point out the existence of what we call Jean our theory of "positive privatization and privatization robbery Yeh. " The separation between positive and negative in the process of privatization avoid big mistakes accompanied the economic policies of States hastened to adopt the processes of economic transformation. .We believe it is necessary to refer to some of these errors of T accompany privatization negative emergence of a class of brokers told Agencies to get from foreign companies and the creation of a the trade currencies and laundered at, the emergence of a group of symbols of the public sector to transfer to a ills for the private sector, the widening circle of competition between Appauliin orientation CuInSe , owns real estate and land, which leads to an imbalance in the cat ray housing. .The privatization could lead to the emergence of new patterns of Elbe *kh and consumer behavior disturbance in a values system for ethical. الخ.This is a follower Everybody knows that privatization creates a negative overlap between the power of money and political decision-making power, etc..

وكي.To avoid such mistakes, we put careful steps The measured according to a schedule and progress at the first of them a second social and economic.
الاقتصادي:Its economic reform :
القصيرThe first phase in the short term
1.1. مية.A strategy include achieving economic growth rates between 12% to 15%, taking into account the role of the State Department in economic activity to move Alastth Marat of the existing projects in various sectors tuberculosis consciousness and service.
High efficiency operation of the existing projects and Uncle l to increase the volume of new investments in the area of production and participation with the private sector (the sale of a portion of t S. capital in the form of shares) 3. The time limit for this stage to verify the goals and the success rate of the state and the private sector in achieving m Adolat growth as anticipated 4. We must not exceed privatization projects accounted for more than 25% of the total projects State second phase in the long average 1. At this stage may be economic strategy The growth rates of up to 10% and less than 8% 1. Must reducing the role of the State in economic activity-soldiers irrigation of the limits of 40% 2. Continue to support the private sector to play a role of economic large gradually and meaningful contribution in the management of Almcharuat list 3. The proportion of privatization projects had reached 60% of total State enterprises third stage in the long run 1. Is this stage growth rates do not exceed 8% and falling l 6% 2. Reducing the role of the State in economic activity of about 10% and Special projects of a strategic nature 3. Preserving the role of the state in the areas of education, health and transportation and the private sector can compete with a State in these activities 4. The Nsabhamushroat Almtakhskhsh rate of a 90% to be mentioned that the implementation of the privatization achieved through many forms Yeh and the most important of these forms is the BOT, which means the creation of Sam rent-building, operate and transfer-managed by the private sector or from the national Alajenbeh investment or for a certain period measured Pa for years and then transfer ownership to the state. There are other forms for the establishment of projects in the light of a reform the economic area is not listed here, then k B.O.L.T and B . R.T. In conclusion we may say that countries such as Iraq and owned by M. Ward normal requirements and economic growth as this was over danger, not supposed to be the nature of the economy is absolute openness, but the economy must be flexible, with many heading the national capital market to encourage the private sector and even a I used to create added value to the overall development goals sustainable based on the principle of improving the labs capital Alma l productive Capital Output unto any expansion shells w in the capacity to absorb as much as possible m n unemployment and achieve a measure of justice in the distribution and redistribution of T. 11.7 and the national income and increased gradually, , which consequently lead to Mtgeirat positive Soy d aggregate demand somewhat, as the way to horizontal expansion and vertical desired.

Translated version of http://www.sotaliraq.com/

Didn't have time to thoroughly read and highlight.

Originally Posted by Par77

HUMMMM.....Interesting!

The CBI didn't sell any dinar today so nothing is missing.

Iraqi minister of construction and housing, Bayan Diza Yee, announced that many South Korean companies were interested in working and investing in Iraq, and that Hyundai had reduced 80% of debts owed to the conglomerate by Iraq, the Kuwait News Agency (KUNA) reported.

Noozz.com | IRAQ

McPherson to lead financial repair of Iraq

22 February 2007 (The State News)
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MSU President M. Peter McPherson will join coalition efforts to restore the Iraqi government.
McPherson met with the Bush administration in Washington on Thursday to discuss the financial reconstruction of Iraq.
The university president obtained financial experience while working second in command for the U.S. Department of Treasury under former President Ronald Reagan.

"It is true that the White House has been talking to Peter about some sort of borrowing of him for work in Iraq for the next couple months," MSU Trustee Colleen McNamara said, adding McPherson "may be back by the beginning of fall term."

It is unknown when McPherson will leave for Iraq and MSU spokesman Terry Denbow said the president has no plans to permanently leave MSU.

In January 1999, the MSU Board of Trustees offered McPherson a position as a senior consultant, making him eligible for retirement status. He has to remain president until 2003 under the deal, which will pay half the average of the five highest deans or directors.

Provost Lou Anna Simon will act as MSU's interim president during McPherson's absence. Simon did not return repeated phone calls and McPherson declined comment Thursday night.

Thursday morning, McPherson told Peter Magrath, president of the National Association of State Universities and Land Grant Colleges, he plans to leave MSU for at least two months to take part in the rebuilding of Iraq.

In the past month, Iraq has seen major warfare followed by civilian looting and mayhem. Coalition forces have set up a temporary government run by the U.S. military.

McPherson's future duties in Iraq aren't clear, but economics Professor Charles Ballard said the task of rebuilding Iraq's economy won't be easy. Iraq owes hundreds of billions of dollars in unsettled debts and claims to several countries.

Ballard added McPherson's experience at the Bank of America dealing with indebted Latin American countries such as Peru will help in negotiating Iraq's finances.

Ballard said expecting McPherson back at MSU by the fall is optimistic.

"If the job of restoring Iraq's financing could be completed in that time that would be quite an accomplishment," he said.

The White House has not made an official announcement of the appointment and many MSU officials have deferred comment until that happens.

The board will hold a public meeting at 9 a.m. today in the Administration Building's fourth floor boardroom to examine how to proceed without McPherson, McNamara said.

Despite McPherson's absence, the board still will need to handle upcoming budget cuts, maintain a $1.5-billion fund-raising campaign and continue to compete for a federally funded Rare Isotope Accelerator this summer.

Michael Perez, co-founder of Students for Peace and Justice, said he was concerned about what kind of statement McPherson's new role would make for the university.

"By doing this he's taking a stance on the war by approving it indirectly or tacitly," the anthropology graduate student said. "It's a smack in the face to the student body who took a stance against the war."

The university can expect student opposition and demonstrations as a result of McPherson's decision, Perez said.

McPherson's background in international financial relations makes him a top pick for running the new Iraqi government's treasury department.

"I, over a number of years, had a broad range of financial management experiences that clearly are helpful in thinking of (university) issues," McPherson said in an interview last month.

From 1989 to 1993, McPherson served as group vice president of the San Francisco-based Bank of America.

He was responsible for the bank's work in Canada and South America and for managing the "bad debt portfolio" - an international portfolio of debts totaling $8 billion.

Previous to McPherson's work in the Bank of America, he was deputy secretary of the U.S. Treasury Department under Reagan, serving as one of three negotiators for the Canadian Free Trade Agreement.

Six years previously, McPherson was an administrator with the Agency for International Development and led a year-long delivery of more than 2 million tons of food to Africa during a famine in the mid-1980s.

He also was a special assistant to President Gerald Ford and director of the White House Presidential Personnel Office from 1975 to January 1977
McPherson to lead financial repair of Iraq | Iraq Updates

Originally Posted by PAn8tv

The 869 daily currency auction was held in the Central Bank of Iraq day Thursday 2007/ 2/ 22 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1282 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 49.175.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 49.175.000 -----
Total offers for selling (US $) ----- -----

Street Rate vs. Exchange Rate

Hello everyone. Hope all is well after an exciting night. I just read that Chavez in Ven. is going to lopp the currency. What is interesting about their situation is that the official exchange rate for the Bolivar dollar is 2150 to the US dollar. The "street rate" is 4000. So go on the streets in that country and you can get MORE of the local currency. By now we have had many reports from our guys in Iraq that they are having a hard time even finding Iraqis who will sell dinars and when they do the rate is around 950 to 1000 per USD. A very unusal situation where the "street rate" is ahead of the offical exchange rate and not "behind". I am not an international monetary expert but this situation in Iraq is unheard of. This being "ahead" of the offical rate does many things. Iraqis will continue to hold dinars and exchange dollars for dinars when ever they can. Banks will be unwiling to exchange their dinars for dollars at the window of the CBI. Banks corporations and specuators will continue to drive the price and keep it ahead of the CBI's offical rate. Banks provide a source of pressure on the CBI to value the dinar upward. Its all good for us. Have a good day. Thank you.

Almost back it the Feb 1st low of 1219. Woot!

Could this be the weekend? Of course it could, I'm ready!

This is just the start of the big spill preferably Dinars than the daily bloodbaths from bombs!!!

I am myself excitingly in contact and currently awaiting further developments in obtaining a window of competitive exchange, say for the current market dealings, 1 million NID for a floating value of about $750

Does it sound interesting? I wonder but the bargaining isn't ending there however, the dealings are far from over with my contact, who is in the Oil & Petroleum Industry in the region of the Middle East, yes, within an OPEC member state itself, thus, easy access and dealing straight with the main banks.

I have little to share but just what is stated above and I am also hoping.... Yes, HOPING.... to see more further development on accessibility into the regional stock mrket for foreigners and all these dealing with the Saudi, UAE, Dubai, Kuwaiti and Iraqi Stock Markets through a Middle East Broker.

Anyone intetrested can PM me, but no obligations for now nor promises as yet ok? Just hold your reins... I'm in a research stage with a fact-finding interests for the future if it becomes feasible to do trading and engage business without the need to be there physically.

However, there might be an interest on the Bio-diesel machine we discussed on... I am deeply curious on this segment of sales too!

I hope I can secure a new alternate source closer to the region and to where I am.... its just plain economics here and if you think it can serve you, let me know, the more I can buy & bargain with, the more we can bring down the rate exchange!


YB. - cheers and success to all

Par77, I like your analysis. Very astute and I aggree whole heartedly.

Number of banks 15 -----
Auction price selling dinar / US $ 1282 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 49.175.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 49.175.000 -----
Total offers for selling (US $) ----- -----

Gooooooooooooood Morning RolClub


"The More They Take, The More We Make".


1. No rate change today, it is now 1282

2. A (net) worth of dinars, IQD - 63,042,350,000 pulled out of circulation on today. (2/22/07)

3. 15 banks participating today

4. 88th auction since the beginning of CBI's reval plan

5. 144 days into the CBI's reval plan.

6. 5,634,289,930,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 195 dinar change since Oct 1st (baseline was 1477) 13.202% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 3 point reduction in the rate so far this week. Was at 1285 at the end of last week, 1282 so far this week.

10. 10 point drop so far in the month of Feb. Ended at 1292 in Jan, now stands at 1282. In January we saw a 2.49% drop in the rate.

Originally Posted by Wm.Knowles

Street Rate vs. Exchange Rate

Hello everyone. Hope all is well after an exciting night. I just read that Chavez in Ven. is going to lopp the currency. What is interesting about their situation is that the official exchange rate for the Bolivar dollar is 2150 to the US dollar. The "street rate" is 4000. So go on the streets in that country and you can get MORE of the local currency. By now we have had many reports from our guys in Iraq that they are having a hard time even finding Iraqis who will sell dinars and when they do the rate is around 950 to 1000 per USD. A very unusal situation where the "street rate" is ahead of the offical exchange rate and not "behind". I am not an international monetary expert but this situation in Iraq is unheard of. This being "ahead" of the offical rate does many things. Iraqis will continue to hold dinars and exchange dollars for dinars when ever they can. Banks will be unwiling to exchange their dinars for dollars at the window of the CBI. Banks corporations and specuators will continue to drive the price and keep it ahead of the CBI's offical rate. Banks provide a source of pressure on the CBI to value the dinar upward. Its all good for us. Have a good day. Thank you.

Exactly,

What we are seeing is a very unique scenario which is unlike anywhere else in the world throughout history, so we have to expect that it will not follow reason in all comparisons, but the VZ comparison is interesting. We are going in the right direction on all points, so yes, it is only a matter of time, as in, it has to happen.

We have all seen how inept the parliament is as these positions were filled out of sectarian need, not intelligence, so we have to expect the delays we have seen as normal. The demand side for dinar clearly demonstrates stability and faith in currency, and this never existed in the history of Iraq, so think about that for a minute, we are in unchartered territory.

I like what I have been seeing and hearing, as it all adds up to progress, even if the rumors have not all come to pass yet, they will. We know from all the acccumulated articles that Iraq's may not be the smartest group in the middle east, but they are probably the most proud, and they all want to see the dinar restored to normal, this has been stated over and over, so in my final analysis, it would be restored whether we say stability or not, so everything I have seen and heard to date indicates we are closer than ever.

As to it being done, I do feel this is true based on all the other laws and agreements which were done, as in decided upon months before it was made public or confirmed. You just have to understand this is normal in Iraq, they decide on issue, then leak it, test response, analyze it, then make it official. We have all seen this over and over, so when I hear it is done, I take it to the bank, even if it is not completely decided or every detail is addressed, I still know it is done.

There will always be bickering and nit picking on some points, but we have never seen a decision shelved or left open for very long after being leaked, so with the street rate dictating value and demand, this too is one of the final tests of the currencies strength and stability which is what this is all about. We know the value will be restored, call it revalue or peg, makes no difference, you can not artificially hold down dinars value forever, and four years is enough, so we are close. Sure has been a fun filled journey and we have all been blesssed with a better understanding on international issues, so we are all winners in my opinion as it allows us to better appreciate what we do have, vs. what many do not. Hang in there, you will be glad you did. (g)

Good luck to all, Mike