Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by garthstar

can i please have a go with your crystal ball?

cheers.

did you polish it b4 looking into it??!!

otherwise, please post a link or some methodology to back this pure speculation up...

from my guessing, the recent auction results are telling a much more hurried story!

In which case, can you please explain why all the predictions of an imminent revalue since August 2006 have never transpired? Were those crystal balls polished? All people do is guess. That's the best we can do with the information at hand. No one on Rolclub knows when this will revalue. It's all speculation. There are great news articles coming out every day. No doubt about that. However, when it comes to Iraq, it does take time to plan something and then actually execute it. Just because someone is not animated or has a differing opinion on the timescale, it doesn't make them wrong. Do people give links for so-called gut feelings that claim that a revalue will happen today, tomorrow or this week? No!

Wm Knowles has been a tremendous addition to Rolclub with his insights into the way the auctions are behaving. Looking at the trend, it would indicate that things could happen sooner. Experience has taught me that soon for us equates to months in terms of Iraq.

Originally Posted by Nomrah I

We don't know what the targeted amount is - so we won't know when they will have drawn in sufficient amounts to substantiate the rv. We just have to watch and wait. This thing could happen anytime. (jmo) People have talked about large investors "buying up" Iraq. The drawing in of dinars will make this less of a factor as well - you can't buy up what isn't there. They (the CBI) will have taken in to consideration how much dinar remains in circulation when they revalue the currency - and the reval amount will reflect what they can feasibly "exchange" and still keep the system afloat - whether it be .31 - or much more. They will have also taken into consideration the turn-around or reinvestment of bigger investors buying up the revalued dinar as quickly as it is exchanged back into the system, thus supporting the rv amount as well. Revaluing it at a healthy, but still slightly undervalued rate will encourage this sell off/buy up theory - making the rv finance itself. Does this make sense? Again - this is just my opinion.

actually i wouldnt think big investors would be needed as iraq has something that everybody in the world wants right now, and i suspect when we cash in our govts will find a use for it. it wont be hard for them to get their dinar back coz they got somethin to trade for it. lol

Announcement No.(806)

D.G. of Foreign Exchange Control

The 806 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 11/ 15 so the results were as follows :

Details Notes
Number of banks 19 -----
Auction price selling dinar / US $ 1455 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 64.960.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 64.960.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(27.350.000) at a rate of(1455+1+10=1466)IQD\USD .
The amount sold to make transfers abroad was USD (37.610.000) at a rate of (1455-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.


D.G. of Investments

Daily price Bulletin buying and selling Wednesday 2006/11/15

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1460.000
1459.270

Morning all, thanks for all the kind words, not read them yet, but can see there's a thread on it's own, lol.

Anyway, apologies if this has been posted, terrific news IMO. We're so so so close! Right, time to read the back pages overnight!



Baghdad / commoners hailed
.Prime Minister Nuri al-Maliki Council of Ministers and the ministries of state funds and the release of all Budgets for the rebuilding of Baghdad. at the time when the Minister of Finance, the budget for Iraq in 2007 will be between 40 and 41 billion dollars. د.The Deputy Prime Minister Dr. الح .Barham Salih at the meeting included a number of government officials and officials from the multinational force that the Economic Committee of the Council of Ministers and the Ministry of Finance have decided to allocate Amkanaat "serious" for the reconstruction of Baghdad and auditing mechanisms and contract processing to enable the State to represent their stressing that the coming months Stko n filled with hard work.
�� .For his part, Egyptian Minister of Finance Baqer Jabr Al-Zubaydi that the budget of 2007 (40 to 41) billion budget, which is ambitious, as he put it, pointing to the existence of some sort of deficit of (5 to 7) billion dollars emphasizing the possibility overcome by the Iraqi Development Fund or through the International Covenant which will be signed at the end of this year. , Zubaidi said that in order to accelerate the reconstruction of the capital, financial allocations will be disbursed in the first month of next year after it had acted in the middle of the year, adding that the allocations by the Ministry to 2007 and the remainder of 2006 will contribute to the reconstruction of the capital Baghdad .
.Zubaidi pointed out that the ministry had allocated six billion dollars of electricity to coincide with the three-year plan announced by the Minister of Electricity and Energy, pointing to the recent statements made with the IMF on Iraq and contributed reduction (100) million of debt, He went on to say that the differences in views with the Fund in the field of monetary policy with respect to the exchange rate of the Iraqi dinar, and the interest rate but agreed to a set of controls which will be reflected positively on the exchange rate of the Iraqi dinar. .For his part, Secretary of Baghdad Saber Eissawi a plan to Aemarasmh Baghdad for a period of four years and cost 281 billion dollars, Issawi said during the meeting that the Economic Committee of the Council of Ministers and the Ministry of Finance agreed to allocate the amount, He reviewed the achievements of the secretariat of Baghdad during this year also presented plans for the reconstruction of the capital of intersections and Mjsrat and tourist hotels and housing complexes.

Originally Posted by CharmedPiper

Announcement No.(806)

D.G. of Foreign Exchange Control

The 806 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 11/ 15 so the results were as follows :

Details Notes
Number of banks 19 -----
Auction price selling dinar / US $ 1455 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 64.960.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 64.960.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(27.350.000) at a rate of(1455+1+10=1466)IQD\USD .
The amount sold to make transfers abroad was USD (37.610.000) at a rate of (1455-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.


D.G. of Investments

Daily price Bulletin buying and selling Wednesday 2006/11/15

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1460.000
1459.270

is this now 'off' the program rate and floating???

Hello here are the latest CBI auction.

Announcement No.(806)

D.G. of Foreign Exchange Control

The 806 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 11/ 15 so the results were as follows :

Details
Number of banks19-----
Auction price selling dinar / US $1455-----
Auction price buying dinar / US $-----------
Amount sold at auction price (US $)64.960.000-----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $)64.960.000-----
Total offers for selling (US $)-----------

• Cash amounts sold to the bank and its customers were USD(27.350.000) at a rate of(1455+1+10=1466)IQD\USD .
• The amount sold to make transfers abroad was USD (37.610.000) at a rate of (1455-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

COMPARISON OF LAST 8 AUCTIONS.....

Number of banks:
11/2/06 (16)
11/7/06 (14)
11/8/06 (20)
11/9/06 (14)
11/12/06 (10)
11/13/06 (17)
11/14/06 (15)
11/15/06 (19)

Auction price selling dinar / US
11/2/06 $1470
11/7/06 $1468
11/8/06 $1466
11/9/06 $1465
11/12/06 $1465
11/13/06 $1465
11/14/06 $1460
11/15/06 $1455

Auction price buying dinar / US
11/2/06 $ ----- -----
11/7/06 $1466
11/8/06 $1464
11/9/06 $------ -----
11/12/06 $1463
11/13/06 $1463
11/14/06 $------ -----
11/15/06 $------ -----

Amount sold at auction price (US $)
11/2/06 70.245.000
11/7/06 109.150.000
11/8/06 97.010.000
11/9/06 70.180.000
11/12/06 24.880.000
11/13/06 110.265.000
11/14/06 62.540.000
11/15/06 64.960.000

Amount purchased at Auction price (US $)
11/2/06 -----
11/7/06 3.000.000
11/8/06 3.000.000
11/9/06 ------
11/12/06 2.500.000
11/13/06 2.600.000
11/14/06 ------
11/15/06 ------

Total offers for buying (US $)
11/2/06 70.245.000
11/7/06 109.150.000
11/8/06 97.010.000
11/9/06 70.180.000
11/12/06 24.880.000
11/13/06 110.265.000
11/14/06 62.540.000
11/15/06 64.960.000

Total offers for selling (US $)
11/2/06 ----- -----
11/7/06 3.000.000
11/8/06 3.000.000
11/9/06 ------ -----
11/12/06 2.500.000
11/13/06 2.600.000
11/14/06 ------ -----
11/15/06 ------ -----

US Dollar
USD
11/2/06 1470.000
11/2/06 1469.265
11/7/06 1470.000
11/7/06 1469.265
11/8/06 1468.000
11/8/06 1467.266
11/9/06 1466.000
11/9/06 1465.267
11/12/06 1465.000
11/12/06 1464.268
11/13/06 1465.000
11/13/06 1464.268
11/14/06 1465.000
11/14/06 1464.268
11/15/06 1460.000
11/15/06 1459.270

Originally Posted by owejac

Hello here are the latest CBI auction.

Announcement No.(806)

D.G. of Foreign Exchange Control

The 806 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 11/ 15 so the results were as follows :

Details
Number of banks19-----
Auction price selling dinar / US $1455-----
Auction price buying dinar / US $-----------
Amount sold at auction price (US $)64.960.000-----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $)64.960.000-----
Total offers for selling (US $)-----------

• Cash amounts sold to the bank and its customers were USD(27.350.000) at a rate of(1455+1+10=1466)IQD\USD .
• The amount sold to make transfers abroad was USD (37.610.000) at a rate of (1455-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

$5 drop again. Interesting, but remember guys sometime back in 2004 the dinar did drop to around 1350 as I remember. All good though and going in the right direction. The dollar is pushing the value of the dinar and that is why it's dropping, remember the dinar is still pegged to the dollar.

Still expecting a reval to be imminent. We're reading daily articles of increasing the exchange rate. They know they need to do it.

Am ready for the Dinar Cup and plenty of r and r in the Caymans, sure most of you are too after this rollercoaster ride!

Originally Posted by Adster

$5 drop again. Interesting, but remember guys sometime back in 2004 the dinar did drop to around 1350 as I remember. All good though and going in the right direction. The dollar is pushing the value of the dinar and that is why it's dropping, remember the dinar is still pegged to the dollar.

Still expecting a reval to be imminent. We're reading daily articles of increasing the exchange rate. They know they need to do it.

Am ready for the Dinar Cup and plenty of r and r in the Caymans, sure most of you are too after this rollercoaster ride! (dr. says no head injury victim on rollercoasters no mo!)

AMEN BRO. A!!!

Adster, i get confused with these things, if the exchange rate were to drop 5 a day untill it reached 1:1 would that still mean we could exchange at that rate? when you say "The dollar is pushing the value of the dinar and that is why it's dropping, remember the dinar is still pegged to the dollar." could the dollar push the value of the dinar all the way up to 1:1 or am i just barking mad?