Thread: Iraq/Dinar News Up until April 5th 5PM CTZ.

Originally Posted by Dinar Cha Ching

What they have to do is stop taking vacations and get to work!

Absofrigginlutely

New policy at Central Bank auction to sell more dollars
By Dergham Mohammed Ali
Baghdad, 29 March 2007 (Voices of Iraq)
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Iraqi Central Bank initiated a new policy to sell more dollars and obtain dinars to cover items from the national budget, which is in Iraqi dinars for the first time since 2003, sending demand for dollar higher in Thursday's auction.

Demand for the dollar increased in the Iraqi Central Bank’s daily auction on Thursday, reaching $90.030 million compared with $33.045 million on Wednesday.

In its daily statement the bank said it had covered all bids, which included $10.630 million in cash and $79.400 million in foreign transfers, at an exchange rate of 1,273 dinars per dollar, unchanged since yesterday.

Fourteen banks participated in Thursday's auction and offered to sell $25 million. The Iraqi Central Bank bought the entire amount at 1,271 per Iraqi dinar.

Ali al-Yasseri, a trader at the auction, told VOI "the hike in demand for the dollar in today's session was partly due to the high foreign transfers by governmental departments and partly because of a new policy to encourage the sale of more dollars and to obtain dinars to cover items from the Iraqi national budget, announced this year in dinars."

OLD RATE HERE WE COME DUDES & DUDETTES!!!!!!!!!!!!!!!!

YA BABY HERE WE GO!!!!!!!!!!!!!!!!!

Originally Posted by Inscrutable

Change the date on your computer and refresh the page, the date on the website will also change.

The website has a date of March 28th in upper right corner but the article itself has a February 28th date. It is a reprint.

Originally Posted by JT2154

The website has a date of March 28th in upper right corner but the article itself has a February 28th date. It is a reprint.

The date in the upper right coincides with whatever date your computer is set to.

The article is from 2/28

Originally Posted by goldraker

New policy at Central Bank auction to sell more dollars
By Dergham Mohammed Ali
Baghdad, 29 March 2007 (Voices of Iraq)
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Iraqi Central Bank initiated a new policy to sell more dollars and obtain dinars to cover items from the national budget, which is in Iraqi dinars for the first time since 2003, sending demand for dollar higher in Thursday's auction.

Demand for the dollar increased in the Iraqi Central Bank’s daily auction on Thursday, reaching $90.030 million compared with $33.045 million on Wednesday.

In its daily statement the bank said it had covered all bids, which included $10.630 million in cash and $79.400 million in foreign transfers, at an exchange rate of 1,273 dinars per dollar, unchanged since yesterday.

Fourteen banks participated in Thursday's auction and offered to sell $25 million. The Iraqi Central Bank bought the entire amount at 1,271 per Iraqi dinar.

Ali al-Yasseri, a trader at the auction, told VOI "the hike in demand for the dollar in today's session was partly due to the high foreign transfers by governmental departments and partly because of a new policy to encourage the sale of more dollars and to obtain dinars to cover items from the Iraqi national budget, announced this year in dinars."

OLD RATE HERE WE COME DUDES & DUDETTES!!!!!!!!!!!!!!!!

YA BABY HERE WE GO!!!!!!!!!!!!!!!!!

THE MOF WILL NOW HAVE TO BUY 260 BILLION DINARS A DAY!

THE WRITING IS ALL OVER THE WALL!

Originally Posted by goldraker

THE MOF WILL NOW HAVE TO BUY 260 BILLION DINARS A DAY!

THE WRITING IS ALL OVER THE WALL!

That's ONLY $204 million dollars a day!

Originally Posted by goldraker

New policy at Central Bank auction to sell more dollars
By Dergham Mohammed Ali
Baghdad, 29 March 2007 (Voices of Iraq)
Print article Send to friend

Iraqi Central Bank initiated a new policy to sell more dollars and obtain dinars to cover items from the national budget, which is in Iraqi dinars for the first time since 2003, sending demand for dollar higher in Thursday's auction.

Demand for the dollar increased in the Iraqi Central Bank’s daily auction on Thursday, reaching $90.030 million compared with $33.045 million on Wednesday.

In its daily statement the bank said it had covered all bids, which included $10.630 million in cash and $79.400 million in foreign transfers, at an exchange rate of 1,273 dinars per dollar, unchanged since yesterday.

Fourteen banks participated in Thursday's auction and offered to sell $25 million. The Iraqi Central Bank bought the entire amount at 1,271 per Iraqi dinar.

Ali al-Yasseri, a trader at the auction, told VOI "the hike in demand for the dollar in today's session was partly due to the high foreign transfers by governmental departments and partly because of a new policy to encourage the sale of more dollars and to obtain dinars to cover items from the Iraqi national budget, announced this year in dinars."

OLD RATE HERE WE COME DUDES & DUDETTES!!!!!!!!!!!!!!!!

YA BABY HERE WE GO!!!!!!!!!!!!!!!!!

This auction has been on my mind all day....just seems highly unusual to buy $90 million in IQD then turn around and sell $25 million. To me that seems like an extraoridinary amount to sell back to the banks. I don't think it's ever been anywhere near this amount going "out" of the CBI.

Don't want to start any rumors, but since 14 banks participated in "receiving" IQD, the possibility of smaller denominations seems real. Possible, ok? This $25 million number is odd. Someone pointed out, elsewhere, that the 2007 budget officially kicks off April 1st....

One things for sure, given the budget amount, they are going to run out of IQD quickly, if the banks continue to purchase this amount of IQD from the CBI.

Of course this could just be the purchase of lower denoms, followed shortly by an r/v

Any other thoughts on this would be much appreciated....very odd auction with coincidental timing.

Sorry for posting here. Started a poll on Doc Daves revalation. Never started a poll before, so if you read my post before I posted the poll, Im sorry. Its now up and running and would really like the members here to give there Input. Even if you dont comment, please take the poll. Im really interested in how everyone thinks.

Gloribee

Foreign firms want to develop Missan oil fields, official
By Bassem al-Shaikh

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29 March 2007 (Azzaman)

The authorities in the southern province of Missan say they have received several requests from foreign firms to develop the province’s gigantic oil fields.

The officials refused to name the firms but said the relative stability which the province currently enjoys was luring both foreign and Iraq entrepreneurs to invest.

The province, which borders Iran, is among Iraq’s most impoverished with a rickety infrastructure.

It was a battle scene in the eight years of Iraq-Iran war.

“The provincial council has received offers from international and Arab firms to invest in the oil sector,” said Taha al-Dhaif, head of the Development Commission in the province.

He said investors were also interested in developing the province’s tourist infrastructure and have made several offers to construct hotels and other tourist installations.

Some of the finest Iraqi marshes are situated in the province and the officials said the wetlands were flourishing once again and the authorities were considering ways to turn into tourist attractions.

Dhaif said the council has an offer from a foreign firm to develop the massive West Gurna oil field, one of the largest unexplored oil fields in the country.

He said the council was keen to attract investors to help reduce the high unemployment rate and fight poverty.

The province relies mainly on agricultural produce as its huge oil fields, with billions of barrels of proven oil reserves, remain undeveloped.

Dhaif said the province was in need of power stations and it has already received an offer to construct one.

There have been requests to construct housing apartments, and rehabilitate idle industries such as the prefab factory.

Iraq has the third largest proven oil reserves in the world behind Saudi Arabia and Iran.

It is total proven reserves are estimated at 112 billion barrels, with as many as 220 billion barrels of resourced deemed probable.

Of the country’s 74 discovered and evaluated oil fields, only 15 have been developed.

A call for Japanese companies to invest in oil and gas fields
Iraq requests from Japanese companies to invest in oil and gas fields

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29 March 2007 (Iraq Directory)

Iraqi Vice President, Tariq Al-Hashmi. asked the Japanese companies to invest in the oil and gas fields in Iraq without hesitation.

This was announced by a Japanese official in the Ministry of Industry and said that Al-Hashmi made this request at a meeting between him and the Japanese Minister of Economy, Trade and Industry, Akira Amari, during a visit to Tokyo.

The Vice President noted that the Iraqi Parliament is preparing to pass a law within two months, allowing the major international companies to develop oil and gas resources in Iraq.