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

Originally Posted by kiko

the current price policy followed by the Central Bank through a sustained reduction of dollar automatically blocking speculators. "

ÏæáÇÑ - (ÇÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

If they're hoping to block speculators at 1449...

They need to raise the dinar against the dollar by leaps and bounds to achieve this!

However, I'M VERY HAPPY to see blocking speculators is one of their goals.

Originally Posted by kiko

High demand for the dollar in an auction Central
Baghdad - (Voices of Iraq)

The demand for dollar in the auction the Central Bank of Iraq today, Monday, recording 56 million and 765 thousand dollars, compared with 31 million and 495 thousand dollars at yesterday's meeting Sunday.
The bulletin issued by the bank on the status of the auction, received news agency (Voices of Iraq) independent copy, that "demand distributed between 16 million and 965 thousand dollars in cash and 39 million 800 thousand dollars in the form of remittances outside the bank full coverage of exchange rate amounted to 1449 dinars to the dollar, down three dinars on the rate of exchange on yesterday, Sunday, which amounted to 1452 dinars to the dollar."

The bulletin pointed out that he "did not submit any of the 12 banks participating in the auction, offers to sell the dollar." Asked why the banks halted the sale of the dollar to the Central Bank said Sami Almfergi one dealing with the auction told (the voices of Iraq) that "the banks to sell some of the dollar amounts of the bank was for the purpose of speculation and reduce the price for some of the gains but the current price policy followed by the Central Bank through a sustained reduction of dollar automatically blocking speculators. "

ÏæáÇÑ - (ÇÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

Originally Posted by kiko

High demand for the dollar in an auction Central
Baghdad - (Voices of Iraq)

The demand for dollar in the auction the Central Bank of Iraq today, Monday, recording 56 million and 765 thousand dollars, compared with 31 million and 495 thousand dollars at yesterday's meeting Sunday.
The bulletin issued by the bank on the status of the auction, received news agency (Voices of Iraq) independent copy, that "demand distributed between 16 million and 965 thousand dollars in cash and 39 million 800 thousand dollars in the form of remittances outside the bank full coverage of exchange rate amounted to 1449 dinars to the dollar, down three dinars on the rate of exchange on yesterday, Sunday, which amounted to 1452 dinars to the dollar."

The bulletin pointed out that he "did not submit any of the 12 banks participating in the auction, offers to sell the dollar." Asked why the banks halted the sale of the dollar to the Central Bank said Sami Almfergi one dealing with the auction told (the voices of Iraq) that "the banks to sell some of the dollar amounts of the bank was for the purpose of speculation and reduce the price for some of the gains but the current price policy followed by the Central Bank through a sustained reduction of dollar automatically blocking speculators. "

ÏæáÇÑ - (Ç<THORN>ÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

I like the las t part of this statement, "blocking speculators". This may be a "heads up" that dinar available to buy will soon dry up. Since the CBI is the ultimate source of dinar, and they are not selling, the available dinar in the pipeline is all there is going to be. Unless someone wants to sell/buy from Ebay.

My reply from the Official Gazette. Dead end, she clammed up, lol.

dear mr


we can't answer you question due to this is not the profession of the gazette

best regards

November 20, 2006 - 5:15 a.m.

LONDON (CP) - Nortel (TSX:NT) has won a US$20-million contract to build a new fibre optic network for Iraq Telecommunications & Post Corporation.

The 5,000-kilometre network will deliver high bandwidth data, video and multimedia services in 35 cities throughout Iraq, the Iraqi corporation said in a statement. The new network will link to another one that Toronto-based Nortel built between Baghdad and Basra in 2004 as part of the USAID-funded Iraq Reconstruction Program.

"Restoring and improving countrywide communications is vital for the reconstruction of Iraq," Simon Beard, Nortel's director of Middle East Business Development, said in the statement.

"This national project is vitally important to the many telecommunications projects underway that will help rebuild the capabilities of the Iraqi society and economy," said Mohamed Allawi, Iraq's minister of communications.

"We selected Nortel's advanced networking technology as the right foundation for Iraqi telecommunications and are confident that the improved communications made possible by this network will help accelerate the reconstruction of our country."

Nortel wins US$20-million contract for Iraq fibre optic network | Markets | Headline News | Canadian Business Online

Originally Posted by kiko

High demand for the dollar in an auction Central
Baghdad - (Voices of Iraq)

The demand for dollar in the auction the Central Bank of Iraq today, Monday, recording 56 million and 765 thousand dollars, compared with 31 million and 495 thousand dollars at yesterday's meeting Sunday.
The bulletin issued by the bank on the status of the auction, received news agency (Voices of Iraq) independent copy, that "demand distributed between 16 million and 965 thousand dollars in cash and 39 million 800 thousand dollars in the form of remittances outside the bank full coverage of exchange rate amounted to 1449 dinars to the dollar, down three dinars on the rate of exchange on yesterday, Sunday, which amounted to 1452 dinars to the dollar."

The bulletin pointed out that he "did not submit any of the 12 banks participating in the auction, offers to sell the dollar." Asked why the banks halted the sale of the dollar to the Central Bank said Sami Almfergi one dealing with the auction told (the voices of Iraq) that "the banks to sell some of the dollar amounts of the bank was for the purpose of speculation and reduce the price for some of the gains but the current price policy followed by the Central Bank through a sustained reduction of dollar automatically blocking speculators. "

ÏæáÇÑ - (Ç<THORN>ÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

Have you ever had a BFO? I just had one! (Blinding Flash of the Obvious) This "blocking speculators" may be why we are seeing Chase Banks that were selling dinar who no longer sells, and why we can not get a good confirmation if BOA is selling or not, the pipeline has dried up and they simply can not get dinar any longer. Make sense?

Originally Posted by Wm.Knowles

Have you ever had a BFO? I just had one! (Blinding Flash of the Obvious) This "blocking speculators" may be why we are seeing Chase Banks that were selling dinar who no longer sells, and why we can not get a good confirmation if BOA is selling or not, the pipeline has dried up and they simply can not get dinar any longer. Make sense?

Could be although banks here in England are still selling them. Mine from the Halifax were circulated notes, good condition.

Basra International Bank raise its capital to 55 billion dinars
المحيطBAGHDAD : the Pacific
%.The Basra International Bank for Investment raise its capital to 55 billion dinars. recording a clear growth in the overall banking activities, according to the general budget, , which posted an increase of 219%..The newspaper Al-Hayat newspaper that the managing director of the Bank Ghalib Hassan Kabbah stressed that the bank had made profits amounted to 7.464 billion dinars. compared to 2.552 billion achieved in 2004.
.He pointed out that the bank's financial investments in companies and other banks, more than 11 billion dinars. in addition to its contributions to the five companies operating writings, supervised, verified. .He pointed out that the bank is currently seeking to open branches in Kuwait, Oman and Dubai, the move represents an extension of a bank branch in Damascus, which opened last year.

The Baghdad newspaper

Originally Posted by CharmedPiper

I still strongly believe that Iraq is out of time and December 11th or 12th is too late.
......
I believe they are on borrowed time and they need to make a very dramatic and positive economical move now or they may lose the support of their most influential backers.

Yes, you believe it, I believe it, and everybody else here believes it, but how can we tell the Iraqis, as they do not seem to believe it?

I dont know much about currency so maybe some-one out there can help me. Using Japan as an example, their Yen has an approx conversion of 100 to 1. But Japan is a VERY wealthy country, could Iraq possibly do something similar and adjust the price of goods and services to match, eg: candy bar
$.90 = 90 Yen. When the war started and the NID was issued does that mean that all the old currency has no value? If so then the new currency really has no ties to the old, value wise.Could the NID rise to something similar to the Yen and hold or do you think it will revert to the old Dinar rates?
I am not sure if this has been discussed before I have only been on this forum for a couple of months. Thank-you in advance for any input.