Thread: My Turn With My Source. {Friend}

neno ,also want to hear about what your inside contacts are saying,this is such a great place to share,thanks joe.

Originally Posted by madmacs

neno ,also want to hear about what your inside contacts are saying,this is such a great place to share,thanks joe.

Sorry, I have talk to my freind plenty since I last posted. But there is no News. Still June 07 as far as rising to a greater level unless, the Security in Baghdad gets undercontrol. If they Clear and Hold then the Sky is the limit. Also the HCL needs to be done before the WTO meeting in Febuary on the 7th I believe. Thats all for now.

Originally Posted by dinartank

Neno have you lost contact from you iraqi buddy that does business in iraq??? We haven't heard an update lately its been a while as this thread seems like it has died? It would be nice just to hear what he says as to what the street value is going for...maybe it could confirm RRs rumor of 950-1 on the street. Your info and imput is greatly appreciated. Tank

Well we all know what we have seen in the Markets. Plus OSW has stated that his kurds have said that everything is inline with the CBI according to them. Just waiting, but nothing New as of yet.

Originally Posted by neno

Well we all know what we have seen in the Markets. Plus OSW has stated that his kurds have said that everything is inline with the CBI according to them. Just waiting, but nothing New as of yet.

Hi Neno,

I am a little confused. OSW says everything is in line with the CBI and yet we hear of aledged street prices of between 900 - 950 . Which is it?

Thanks,

worf

Originally Posted by worf

Hi Neno,

I am a little confused. OSW says everything is in line with the CBI and yet we hear of aledged street prices of between 900 - 950 . Which is it?

Thanks,

worf

It is confussing. We see the exchange sites and see what they post. RR says his contacts say as low as 960 I have emails from boots on the Ground of freinds that say 1000 and yet OSW says his contacts say everything inline. You choose. Omand has shown in the low 1200's That is not inline.

I guess this is what they do is confuse. My freind says it is trading in the street exchanges as low as 1000.

I would assume that the street rate would vary widely on location, risk, supply, and demand among a countless list of factors. Why sell at 1100 when you can try to chisel 1000 out of someone?

The good news is that the street rate seems to maintain a considerably lower level than the CBI and that will help push the official rates in our direction.

Originally Posted by ozizoz

I would assume that the street rate would vary widely on location, risk, supply, and demand among a countless list of factors. Why sell at 1100 when you can try to chisel 1000 out of someone?

The good news is that the street rate seems to maintain a considerably lower level than the CBI and that will help push the official rates in our direction.

Exactly right. Since the Iraqi Dinar is not recognized as a viable currency by most of the World Currency Markets (yet) you will see wide variances in value from dealer to dealer, street to street, and country to country. That's why different currency exchange trackers have widely different values. For example Oanda uses a different formula and has a significantly different rate than say MenaFN. Once the stabilization of the IQD is fully implemented and de-dollarization in Iraq occurs you will see these variances converge. Face it Ebay is a poor man's version of FOREX!!!

Originally Posted by MunnyBaggs

Exactly right. Since the Iraqi Dinar is not recognized as a viable currency by most of the World Currency Markets (yet) you will see wide variances in value from dealer to dealer, street to street, and country to country. That's why different currency exchange trackers have widely different values. For example Oanda uses a different formula and has a significantly different rate than say MenaFN. Once the stabilization of the IQD is fully implemented and de-dollarization in Iraq occurs you will see these variances converge. Face it Ebay is a poor man's version of FOREX!!!

Exactly,

In line, as it was described means nothing unusual, which was the question given the misinformation of dollar to dinar that was going around. Street price in Kurdistan is certainly different than in Baghcrap, so it is obvious we will hear different rates, but in general, they are in line with business as usual.

Good luck to all, Mike

so what are you hearing mike what range??

Originally Posted by dinartank

so what are you hearing mike what range??

As of last week, it was less in Kurdistan and more in Baghcrap, so there is much to be said on street prices as it relates to security and risk factors, so we will see higher rates of 1000 or better in high risk areas, more the norm, 1200 to 1300 in Kurdistan.

Good luck to all, Mike