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

Outstanding, 1360 Today!!! 13 point drop!!

Originally Posted by day dreamer

Announcement No.(831)

D.G. of Foreign Exchange Control

The 831 daily currency auction was held in the Central Bank of Iraq dayThursday 2006 / 12/ 21 so the results were as follows :

Details Notes
Number of banks 6 -----
Auction price selling dinar / US $ 1360 -----
Auction price buying dinar / US $ 1358 -----
Amount sold at auction price (US $) 1.250.000 -----
Amount purchased at Auction price (US $) 1.500.000
Total offers for buying (US $) 1.250.000 -----
Total offers for selling (US $) 1.500.000 -----





D.G. of Investments

Daily price Bulletin buying and selling Wednesday 2006/12/20

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1380.000
1378.000

European Euro
EUR
1820.772
1819.862

Sterling Pound
GBP
2713.908
2712.551

Canadian Dollar
CAD
1194.082
1193.484

Swiss Frank
CHF
1136.644
1136.076

Sweetish Krone
SEK
202.059
201.958

Norwegian Krone
NOK
223.518
223.406

Denmark Krone
DKK
244.321
244.199

Japanese Yen
JPY
11.702
11.696


The above price represent reference rate and does not from any commitment on the Central Bank of Iraq.

Wow, those jumps are getting bigger. Wohhaayyyyyyyyyyyyyyyyyyyyy. More of the same is on the cards. Nice little $122 profit overnight!

Originally Posted by Dinar Cha Ching

outstanding 1360 Today!!!

5 more auctions left for the year...at least, that's my understanding. What's the chance of a 3 dinar decrement each day to bring it upto 1345 as per IMF's guidelines or recommendations or whatever you wish to call it?

Then if it hits 1345 by the end of year what will happen next? are they going to RV it?
if The HCL and FIL will be enacted will it be a boost for the iraq economy?

Number of banks 6 -----
Auction price selling dinar / US $ 1360 -----
Auction price buying dinar / US $ 1358 -----
Amount sold at auction price (US $) 1.250.000 -----
Amount purchased at Auction price (US $) 1.500.000
Total offers for buying (US $) 1.250.000 -----
Total offers for selling (US $) 1.500.000 -----


Can you believe a 13 point drop and only $1,250,000 in the auction. If this isn't getting close, I don't know what is. This gets my blood flowing again. Come on Baby, lets get this done before the end of the year.


Such a Goooooooooooooood Morning Today RolClub !!



1. The dinar to the dollar is down 13 more points today from 1373 to 1360

2. A negative $250,000 (net) worth of dinars, (IQD - negative 340,000,000) out of circulation

3. 6 banks participating.

4. 49th auction since the beginning of CBI's reval plan

5. 82 days into the CBI's reval plan.

6. 2,828,858,877,000 dinars pulled from circulation !!

7. 340,000,000 Dinars back into circulation today !!

8. 117 dinar change since Nov 1st (baseline was 1477) 7.921% increase in value of the dinar since beginning of reval plan.

9. 51 point reduction in the rate this week. Was at 1411 at the end of last week, 1360 this week.

10. 75 point drop so far in the month of Dec. Ended at 1435 in Nov, now stands at 1360

Originally Posted by day dreamer

Announcement No.(831)

D.G. of Foreign Exchange Control

The 831 daily currency auction was held in the Central Bank of Iraq dayThursday 2006 / 12/ 21 so the results were as follows :

Details Notes
Number of banks 6 -----
Auction price selling dinar / US $ 1360 -----
Auction price buying dinar / US $ 1358 -----
Amount sold at auction price (US $) 1.250.000 -----
Amount purchased at Auction price (US $) 1.500.000
Total offers for buying (US $) 1.250.000 -----
Total offers for selling (US $) 1.500.000 -----





D.G. of Investments

Daily price Bulletin buying and selling Wednesday 2006/12/20

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1380.000
1378.000

European Euro
EUR
1820.772
1819.862

Sterling Pound
GBP
2713.908
2712.551

Canadian Dollar
CAD
1194.082
1193.484

Swiss Frank
CHF
1136.644
1136.076

Sweetish Krone
SEK
202.059
201.958

Norwegian Krone
NOK
223.518
223.406

Denmark Krone
DKK
244.321
244.199

Japanese Yen
JPY
11.702
11.696


The above price represent reference rate and does not from any commitment on the Central Bank of Iraq.

Is this new or has the daily price bulletin always been considerably higher then the auction prices above?

- Note that :-1. The sale price of remittances dinars (1358) / $. 2. The sale price cash dinars (1371) / $. 3. The cash purchase price (1369) dinars / $. 2-quantity sold in cash "in the amount of $ (300.000) and the amount of remittances (950.000) dollars.

Central Bank Of Iraq

Originally Posted by Cdn Scrooge

Check Daydreamer's post last night (back on page 2). The rates you are questioning are still the rates from yesterday and the date still shows as Dec 20th. I guess they haven't updated this part of the page yet.

Correct they haven't updated this part yet, BUT they do this often, Normally when this happens the next time they have an auction it updates to that date.
I don't know why they do this, but I do know it has happened quite a few times.
Daily price Bulletin buying and selling Wednesday 2006/12/20

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1380.000
1378.000

European Euro
EUR
1820.772
1819.862

But when you look on the CBI site it shows the following:

Auction price selling Dinar / US Dollar: 1360
Selling Price Dinar/US Dollar: 1380

Can any one explain the difference?

Thanks
Neil

Head of Stock Exchange Trustees: it is time to implement the Investment Law
21 December 2006 (Iraq Directory)
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Head of the Iraqi Stock Exchange Trustees, Talib Tabatabai, confirmed that security situation is what hinders the Stock Exchange more than anything, and it is the reason behind the considerable challenges faced by the investor... However, he pointed out that the current situation is temporary and exceptional; therefore, the performance must be maintained consistently, as illustrated by general indicators, which confirms that the development in performance continues to be a salient feature in the march of the market.

Tabatabai added in a press statement: that the investment law being not activated, its members are not appointment and working by it has not started, created a great disappointment among investors in the Iraqi bourse, particularly that efforts have been made by workers in the bourse to update its performance; electronic equipment and supplies are being installed and Stock Exchange rooms are being organized for this purpose. He added that such electronic boards are used for the first time in Iraq...

Tabatabai expressed his hope that many factors will help the investments by shareholders better than it is now. In the forefront of these factors is the security situation.

Tabatabai pointed out that the number of shares that have been circulated in the month of September amounted to 4,212 billion shares, at an average of 527 million shares in a session, registering an increase of 54, 9% on last August. As for the volume of transactions in the month of September, Tabatabai said that they amounted to 8,422 billion dinar; that is 1,052 billion dinar in a session; and the number of contracts executed in the same month, increased to reach 2928 contracts for the month of August.

Tabatabai also stated that the banking sector is the main engine of the market, as this sector has achieved greater relative importance.


Head of Stock Exchange Trustees: it is time to implement the Investment Law | Iraq Updates