Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

It went up instead of down this time?

Email from Mr I guys:


Dear .........,

According to my official sources the FIL and its clauses will be enacted in April and once put into official practice I will personally provide you with the full details. Also the ISX should also go Electronic in Mid May.

Originally Posted by Adster

Email from Mr I guys:


Dear .........,

According to my official sources the FIL and its clauses will be enacted in April and once put into official practice I will personally provide you with the full details. Also the ISX should also go Electronic in Mid May.

Hmmm....

april works !

Thanks for sharing wih the masses

Posted elsewhere from my pal Kev, speaks a lot of sense and for me too on this and other things. Got his permission to post it.


Ah, panic time! NOT. If I was Iraq and I wanted to remove more currency out of circulation from small speculators and a major increase in currency value was about to occur I'd probably make it look like it was going the other way because, guaranteed, a few people (maybe not most) would sell thinking this investment is a no-hoper!

As was explained to me this is a typical method of Arab business practice:

1. Make something look more valuable or begin increasing the value (happened with Dinar rise).
   
2. Follow it with lots of news that appears good but is misleading and conflicting (happened Nov/Dec/early Jan 2006).
3. Followed by a period of virtually no news and little movement to make people think nothing is going to happen (late Jan-mid Feb)
4. Good news, good news and more good news (happening).
5. Panic everybody into thinking the deal is not going through (happening).
6. Wham! Everything in place. Deal is done.

This usual Arab business philosophy was (genuinely, I'm not making this up) explained to me by someone who did some business contracts with Arabs....

Hang in there people!

Originally Posted by Adster

Posted elsewhere from my pal Kev, speaks a lot of sense and for me too on this and other things. Got his permission to post it.


Ah, panic time! NOT. If I was Iraq and I wanted to remove more currency out of circulation from small speculators and a major increase in currency value was about to occur I'd probably make it look like it was going the other way because, guaranteed, a few people (maybe not most) would sell thinking this investment is a no-hoper!

As was explained to me this is a typical method of Arab business practice:

1. Make something look more valuable or begin increasing the value (happened with Dinar rise).
   
2. Follow it with lots of news that appears good but is misleading and conflicting (happened Nov/Dec/early Jan 2006).
3. Followed by a period of virtually no news and little movement to make people think nothing is going to happen (late Jan-mid Feb)
4. Good news, good news and more good news (happening).
5. Panic everybody into thinking the deal is not going through (happening).
6. Wham! Everything in place. Deal is done.

This usual Arab business philosophy was (genuinely, I'm not making this up) explained to me by someone who did some business contracts with Arabs....

Hang in there people!

Ahhhhh, that feels better. Never give up, never quit!

One point down is not a strong enough reason to sell off...If it goes back to 1,500 I may consider it though. However, I don't see exactly the " high risk" of this investment, as I can go at anytime back to Chase and sell my dinars off and take a loss of $100 per million - which is one hand of blackjack at a casino. Hell, lost more than that at ANY casino you name in ONE game!! LOL

I hope no one will start selling because of a little shake up....

Originally Posted by Jola

One point down is not a strong enough reason to sell off...If it goes back to 1,500 I may consider it though. However, I don't see exactly the " high risk" of this investment, as I can go at anytime back to Chase and sell my dinars off and take a loss of $100 per million - which is one hand of blackjack at a casino. Hell, lost more than that at ANY casino you name in ONE game!! LOL

I hope no one will start selling because of a little shake up....

Whilst I agree to a point Jola I know that since the reval started in late October someone that holds around 15 million would now be in profit over $1k. Not bad really in a short space of time! So yes, some may cut and run. Some are sick and tired of this, have read of plenty that are! Others who thought this should have happened long ago may also now need the money and sell some if not all of their dinars. But for all of these there will be 'new' investors through forums etc so I see it as a temporary/last ditch effort by the CBI. Shows how close we are..........

The rate MAY creep up for a little while. It will be their way of offloading as many of us as they can to save paying out to us.

Keep the faith and hold on unless you absolutely NEED to sell some. Whilst you're waiting read my new signature, it says it all.

Voices of Iraq :-$ (economy)

كتب: dhrgham في يوم الخميس, 08 مارس, 2007 - 12:10 PM BT

Books : dhrgham on Thursday, 08 March 2007 12:10 PM-BT

أول إرتفاع في سعر صرف الدولار خلال عدة أشهر

First rise in the dollar exchange rate over several months

من ضرغام محمد علي

Dargham of Muhammad Ali

بعداد- (أصوات العراق)

Badad - (Voices of Iraq)

إرتفع سعر صرف الدولار لأول مرة منذ عدة أشهر فى مزاد البنك المركزى العراقى اليوم الخميس بعد أن إستمر سعر صرفه لأكثر من خمسة أشهر في انخفاض مستمر.

The dollar exchange rate for the first time several months ago in an auction the Central Bank of Iraq today, Thursday, now that the price purely for more than five months in a steady decline.

وسجل حجم الطلب على الدولار انخفاضا اليوم الخميس في مزاد البنك مسجلا حجم طلب بلغ 54 مليونا و145 الف دولار مقابل 66مليونا و260 الف دولار امس الاربعاء.

And the volume of demand for the dollar declined today, Thursday, in an auction volume of the bank registered a 54 million and 145 thousand dollars against 66 million and 260 thousand dollars on Wednesday.

وتوزعت طلبات الشراء بواقع 7 ملايين و70 الف دولار نقدا، و47 مليونا و75 الف دولار على شكل حوالات خارج القطر قام البنك بتغطيتها بالكامل بسعر صرف 1279 دينارا مرتفعا نقطة عن سعر صرف امس الاربعاء في اول ارتفاع لسعر صرف ��لدولار منذ خمسة اشهر .

Such procurement requests by seven million and 70 thousand dollars in cash, 47 million and 75 thousand dollars in the form of remittances outside the country the Bank has full coverage at the exchange rate of 1279 dinars high point on the exchange rate yesterday, Wednesday, the first rise in the exchange rates dollar, five months ago.

فيما لم تتقدم اي من المصارف الـ 11 المشاركة بالمزاد بعروض لبيع الدولار .

While he did not make any of the 11 participating banks auction offers to sell the dollar.

واوضح السيد علي الياسري، أحد المتعاملين مع البنك أن الارتفاع رغم انه ليس كبيرا لكنه كان مفاجئا وعكس سياسة البنك للاشهر الماضية القاضية بخفض سعر الصرف، وهو ما اثر على حجم عروض الشراء النفدي واقتصارها على التعاملات العاجلة.

He explained to Mr. Yasiri, one dealing with the bank that the rise although it is not big but it was surprising and contrary to the policy of the World for months the judge to reduce the exchange rate, which impacted on the volume of bids Navdi exclusiveness of the dealings urgent.

http://translate.google.com/translat...language_tools

Back in the days of the 1470's rates, the fluctuations were usually one or two points up or down. This went on for a very long time.

Then the rate started to drop. Sometimes a point, sometimes several points per day. Since the time the rate started dropping, it has never gone back up until yesterdays auction.

To me, this is a clear signal that the CBI has reached some sort of objective. The plane has been circling the runway for a long time and is ready to land. This one point tick upwards tells me that the CBI is waiting for certain "unfinished business" to be completed in the Iraqi Government (can you say HCL and FIL?).

Not to worry. We are very close and it could still pop this week. They have been working through their weekends lately so don't be surprised to see action this weekend as well. Hopefully BIG action!

Thank you.

The convening of the accelerated implementation of the budget and investment projects for 2007

Justice / editor economic sponsored by the Deputy Prime Minister Barham Ahmed Salih, the invitation of the Minister of Finance and Minister of Planning and Cooperation UNDP and hosted by the Ministry of Finance was the first conference to speed up project implementation

Alesthmarih allocations and the reconstruction and development projects, governors, and participated in the conference a number of the ministers and heads of district councils and governors and a representative of the Finance Committee and a number of representatives from relevant ministries and embassies working in Iraq was also attended by Ambassador Ashraf judge representative of the Secretary-General of the United Nations and Ambassador Karni from the American embassy and Ambassador Ilkka European Union ambassador in Baghdad and the Italian Ambassador , and a number of other diplomats from the British embassy, Japanese and Korean. Mr. Deputy Prime Minister said in his speech at the opening of the conference that the decision of the State of the Prime Minister in support of the ministries and provinces for the implementation of the budget for this year in order to be completed within the period specified in the service recovery the economy and creating job opportunities in addition to a reference to several important themes in the budget 2007.

After a number of discussions and interventions during the conference came out with a series of recommendations through the strengthening of cooperation between the Ministries of State and all provincial and Ozarati finance and planning to overcome the problems and difficulties impeding the implementation of investment projects, taking into account the circumstances of the ministries and keenness on the implementation of projects and to ensure the application of regulations and instructions and provides the flexibility and speed necessary to achieve the highest percentages of completion.

The upgrade process up by the State ministries and all governorates in cooperation with the Ministry of Planning and to ensure that the obstacles in the diagnosis of early and work to solve and overcome in a short period of time. The adoption of appropriate mechanisms and scientific minutes to expedite the release of funds by the Ministry of Finance, including that ensures liquidity for investment projects. as well as strengthening the capacities of ministries and governorates in the implementation of projects through the upgrading of the capabilities of their staff in the areas of the contract, follow-up and opening credits and financial scrutiny, through rehabilitation and training inside and outside Iraq. and advocacy ministries to make a greater effort to identify standards The selection of projects and the preparation of feasibility studies, estimate of cost efficiency and strict supervision on the implementation within the time frame specified therein. The statement stressed the ministries to call attention efficient implementation in addition to the rapid achievement where experience had shown low levels of efficiency of many government projects, which reduced development efforts and reduce their usefulness. The claim provinces benefit from the lessons of the past three years in the planning and implementation of projects and work the resolution, in cooperation with the ministries of Finance and Planning and Development Cooperation. work on the recommendations of accelerating the process of implementing projects and contracts that they had instructions adoption by the Council of Ministers. Through the application of regulations and accounting standards to ensure transparency and fairness in the implementation of projects without prejudice view to achieve the speed and efficiency of the productive projects. The use of models is acceptable to follow up the implementation of projects and contracts and the rest of the models adopted to ensure control and follow-up and the efficiency and speed the implementation of investment projects

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