Thread: IMF April 30, 2007

Originally Posted by TerryTate

I don't care what you say, now that there is funny..........

Ditto!

Originally Posted by RfxLady

Does this mean they will have their RV in country and not announce to outside world for a week then announce to outside world? I'm confused

It is what is believed with the upcoming events, and the Days they fall on. Asfar as a ANNOUNCEMENT to the World, I dought it. Mostlikely to the World will be just as it is now. Someone finds a Article or sees the CBI site updated and it just grows from there. IMHO

Originally Posted by shotgunsusie

Translated version of http://www.iraq-na.com/index.php?sec=news&act=view_cat&cid=1

CBK linking the dinar value of a basket of currencies and immediately cashed rise
Added news on 5-20-2007, 15:7

.... CBK linking the dinar value of a basket of currencies and immediately cashed rise

Kuwait - WAI-Ibrahim Al-Sudairy

Kuwait announced today linking the Kuwaiti dinar exchange basket of currencies after more than four years of linking the American dollar, which lifted the Kuwaiti currency exchange rate immediately.

The Governor of the Central Bank of Kuwait Sheikh Salem Abdel Aziz Al-Sabah in statements reported by the Kuwaiti News Agency that starting from today, the adoption of determining the Kuwaiti dinar exchange rate against the United States dollar on the basis of a basket of major world currencies, which reflects the commercial and financial relations with the State of Kuwait.

Kuwait was historically linked its currency to a basket of currencies fifth of January 2003 when the dinar exchange rate linked exclusively dollar preparation for the unified Gulf currency to be adopted in 2010 ruled in Riyadh Abdul Rahman Al-Attiya, Secretary General of the Gulf Cooperation today that five members of the Board will follow the example of others Kuwait With regard to the lifting of the value of currencies.

Have heard this one before. Come on RV...

Originally Posted by kuga

thanks neno for the warm welcome! i am glad to be here. i hope i can answer some of the questions people may have. in all actuality, the sdr is a normalization rate among currencies - it is the rate that keeps consistency among currencies. if the dollar continues to devalue to other currencies, the basket approach of the sdr lightens that decline. a dollar peg is more susceptible to dramatic change than the sdr.

with that said, even if the goi used the sdr as a standardization (i believe the imf will always use the sdr rate - even if pegged to other currencies), moving the decimal to the right 3 places on the sdr rate will normalize out to the $.78 usd = $1 nid rate discussed earlier. you can plug this rate into the formula earlier to see how they will balance.

imho, i would think the sdr rate is a safer rate for iraq to reference due to the decline in the dollar over the last several years. either way, imf will always reference in sdrs to normalize the values.

Well, there goes Kuwait. Thought they said this wasn't going to happen now. guess the SDR is in a more favorable reason now. Come on with the others.

Originally Posted by shotgunsusie

excuse me, i have been corrected on my chain of events theory. what happened on the 30th of april is safe dinar had a bot watching the cbi website which detected the change of the rate to .19; before safe d could stop it their automatically generated email system notified all clients of the change.

no mistake, premature but not a mistake.

My first email from them was at 3:30 am CST, with the 1269 from 1270.

Then again at 9:08 am CST, with the .19 from 1270 move.

Then once more at 10:38am CST, back to the 1269 from 1270.

What got me was I was on the phone with Chase at around the time between the 9:08 and the 10:38 emails. Once I went from my BM friend's rate disclose on her screen a the Bank to the next Teller it all changed.

So Chase piggyback it also.

Originally Posted by Lunar

A simple case of premature Iraqulation......

That is Funny.

Originally Posted by neno

That is Funny.

LMDAO

Too Funny Neno..

Originally Posted by Lunar

A simple case of premature Iraqulation......

and we both know nothing in iraq happens prematurely.

Originally Posted by neno

My first email from them was at 3:30 am CST, with the 1269 from 1270.

Then again at 9:08 am CST, with the .19 from 1270 move.

Then once more at 10:38am CST, back to the 1269 from 1270.

What got me was I was on the phone with Chase at around the time between the 9:08 and the 10:38 emails. Once I went from my BM friend's rate disclose on her screen a the Bank to the next Teller it all changed.

So Chase piggyback it also.

Hi sorry just to make sure Im correct that was .19 dinar to the dollar? or the other way around?

Originally Posted by neno

My first email from them was at 3:30 am CST, with the 1269 from 1270.

Then again at 9:08 am CST, with the .19 from 1270 move.

Then once more at 10:38am CST, back to the 1269 from 1270.

What got me was I was on the phone with Chase at around the time between the 9:08 and the 10:38 emails. Once I went from my BM friend's rate disclose on her screen a the Bank to the next Teller it all changed.

So Chase piggyback it also.

Neno, what was the rate that Chase 'mistakenly' quoted you? I've forgotten. Thanks.