Dealer Rates Will Be Going Up
The following information was posted at the other forum by DealOrBuyDinar. He is a reliable solid Dinar Dealer. With his kind permission he has allowed this information to be posted here also as it will be of interest to everybody. :biggrin:
"Dealer's rates will be going up
I've been asked to post any information of this nature here in the Rumor forum. I want to say that I typically won't post anything that is speculative in nature unless I'm pretty certain of it. What I am relatively certain of is that Dealer's rates will be going up in the next 2-4 weeks. More likely than not, in the next two weeks.
I am a Dinar dealer based here in the U.S.. I can tell you from my supply sources overseas, some of whom supply me directly and some indirectly, that the cost of Dinar stateside will be up by the end of April. It's not that difficult to predict. When the cost goes up at the source of supply, which it has, it's simply a matter of time until the cost increases here for the end user, which it will.
The higher priced Dinar is already in the pipeline. I've seen price increases in Baghdad the week before last, Amman, and Kuwait City this week by anywhere from $30 to $40 per million. So when dealers sell through what they have in stock now they will have to raise their prices just to maintain their profit margin as they begin buying the higher priced Dinar.
If the increased price triggers a rush of buying supply can run short and push the cost up further. In addition, suppliers have been reporting a shortage of small denominations in both Amman and Kuwait. As of this week they are beginning to see a lack of supply for the uncirculated 25K's and are even having difficulty coming up with circulated 25K notes. They will still take your order and payment but they don't have the stock and can't say when they will be getting it. This is also having an impact on price.
So we're seeing two factors that are contributing to the increased cost in supply:
1.) The increase in price at the source in Baghdad.
2.) The decrease availabilty of Dinar supply
Hope this information is helpful,
-Ken"