Thread: IMF April 30, 2007

Originally Posted by Bill

Been away for a while so catching up. All this info is quite confusing. The way I look at it is we can't do anything about the rate or the date for that matter. All I want to know is WHENNNNNN!!!!!!

thats the million dollar/dinar question!

Originally Posted by kuga

i originally helped neno out with the equation he posted a few pages back. so, i will try to clarify the .19 rate as well. so, lets get started.


for starters, i will say that i think this is an odd coincidence, and not so much the way it will work out. the .19 number can be generated by moving the decimal of the sdr rate 4 spots. this will make 1 nid = 5.16 sdr. using the equation from before, you have (1 nid * 1 sdr) = (5:16 sdr * x nid) . therefore, 1/ 5.16x = .19.


i couldnt tell you why the decimal is moved 4 spots, nor can you use this to determine a usd amount (unless you plug it all back in the equation from earlier). however, it is a very strange coincidence and one that warrents some more thought.

THANKS. Crazy, but perhaps it's a coincidence.

Originally Posted by cooldolphins

THANKS. Crazy, but perhaps it's a coincidence.

.19 is an oddball number to pull out of the blue on the CBI site. I think it is much more than a coincidence - however, I wouldn't take the number as a potential revalue amount. Take it more as a data-entry error or something. If it works out for the better, then it is best to be surprised because if it doesn't work out, it is a big disappointment.

Yeah, it is VERY strange you are able to get to that using the numbers. Where do the 1000 fils fit in the equation?

I just think it is interesting.

Originally Posted by cooldolphins

Yeah, it is VERY strange you are able to get to that using the numbers. Where do the 1000 fils fit in the equation?

I just think it is interesting.

I actually don't know where or why the fils ever came up as a justfication to the rate. I got to the .19 rate without the fil part of the equation.

About 6 months ago got some information from I began to talk to on the phone that is in the oil buisiness.
At that time he said he new several high ranking government officials that bought alot of dinar. I believe he said one had bought 100 million. He also told me that China had cleared out all the scrap yards around Houston and hired alot of ship workers out of Pascagola,MS to build oil tankers for Iraqi Oil.

Also about that time he said he heard that the dinar was going to rv at .91 euro. At that time the number converting to dollars was $1.27.

Coincidence or not with the same number being bantered about now?

Originally Posted by neno

Iraq: Exchange Rate

as of April 30, 2007
The SDR is an international reserve asset created by the IMF in 1969 and serves as its unit of account. The currency value of the SDR is determined by summing the values in U.S. dollars of a basket of major currencies.

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(in SDRs per Currency unit)

Date Exchange Rate
April 30, 2007 0.000516326
April 28, 2006 0.000460244
April 29, 2005 0.000451682
September 22, 2004 0.000466938
September 08, 2003 2.53758
April 30, 2002 2.53758
April 30, 2000 2.43852
April 30, 1999 2.38074
April 30, 1998 2.38881
April 30, 1997 2.3558
April 30, 1996 2.21848
April 30, 1995 2.04504
April 30, 1994 2.26323
April 30, 1993 2.26004
April 30, 1992 2.34852
April 30, 1991 2.39924
April 30, 1990 2.46985
April 28, 1989 2.48283
April 29, 1988 2.32407
April 30, 1987 2.46269
April 30, 1986 2.73556
April 30, 1985 3.24557

Disclaimer
The information provided is for your convenience and is not intended to replace other official IMF reports and statements.

Iraq: Financial Position in the Fund

Iraq: Exchange Rate as of April 30, 2007

Good evening folks, I hope this is not too silly a question, but what does SDR mean. I was just reading that it stands for "Special Drawing Right", what exactly is that?

Special Drawing Right (SDR)
International reserve asset created by the IMF in 1969 as a supplement to existing reserve assets.
• SDR Allocation. Distribution of SDRs to members by decision of the IMF. A "general" allocation requires a finding by the IMF that there is a global need for additional liquidity.
• SDR Assessment. An assessment levied by the IMF, at the same rate for all participants in the SDR Department, on a participant’s net cumulative SDR allocations, to cover the expenses of conducting the business of the SDR Department.
• SDR Department. This department, an accounting entity rather than an organizational unit of the IMF, records and administers all transactions and operations involving SDRs.
• SDR Interest and Charges. Interest is paid to each holder of SDRs. Charges are levied, at the same rate, on each participant’s net cumulative SDR allocations. The SDR interest rate is determined weekly by reference to a short-term market interest rates on the currencies used for SDR valuation. Interest on SDR holdings is paid, and charges on net cumulative allocations are collected, on a quarterly basis, and are settled on the first day of the subsequent quarter.
• SDR Use. Participants in the SDR Department (currently all members of the IMF) and prescribed holders may use SDRs in a variety of voluntary transfers, including transactions by agreement, swap arrangements, forward operations, and so forth. Participants may also use SDRs in operations and transactions involving the General Resources Account (GRA), such as the payment of charges and repurchases (repayments). In addition, the IMF ensures that a participant with a balance of payments or reserve need to acquire foreign exchange is able to use its SDRs in a "transaction with designation".
• SDR Valuation. The currency value of the SDR is determined daily by the IMF by summing the values in U.S. dollars, based on market exchange rates, of a basket of four major currencies—the euro, Japanese yen, pound sterling, and the U.S. dollar. The SDR valuation basket is normally reviewed every five years. The last review, which took place in 2000 (see Press Release No. 00/55), resulted in a revision of the weights assigned to each currency in order to take into account the introduction of the euro on January 1, 1999 and the growing role of international financial markets. The revisions in the valuation basket became effective on January 1, 2001 (see Press Release No. 00/87).

Thank you Mr Wizard!

And they use the 4 countries chosen to set the SDR against any others.

Originally Posted by lglwzrd

Special Drawing Right (SDR)
International reserve asset created by the IMF in 1969 as a supplement to existing reserve assets.
• SDR Allocation. Distribution of SDRs to members by decision of the IMF. A "general" allocation requires a finding by the IMF that there is a global need for additional liquidity.
• SDR Assessment. An assessment levied by the IMF, at the same rate for all participants in the SDR Department, on a participant’s net cumulative SDR allocations, to cover the expenses of conducting the business of the SDR Department.
• SDR Department. This department, an accounting entity rather than an organizational unit of the IMF, records and administers all transactions and operations involving SDRs.
• SDR Interest and Charges. Interest is paid to each holder of SDRs. Charges are levied, at the same rate, on each participant’s net cumulative SDR allocations. The SDR interest rate is determined weekly by reference to a short-term market interest rates on the currencies used for SDR valuation. Interest on SDR holdings is paid, and charges on net cumulative allocations are collected, on a quarterly basis, and are settled on the first day of the subsequent quarter.
• SDR Use. Participants in the SDR Department (currently all members of the IMF) and prescribed holders may use SDRs in a variety of voluntary transfers, including transactions by agreement, swap arrangements, forward operations, and so forth. Participants may also use SDRs in operations and transactions involving the General Resources Account (GRA), such as the payment of charges and repurchases (repayments). In addition, the IMF ensures that a participant with a balance of payments or reserve need to acquire foreign exchange is able to use its SDRs in a "transaction with designation".
• SDR Valuation. The currency value of the SDR is determined daily by the IMF by summing the values in U.S. dollars, based on market exchange rates, of a basket of four major currencies—the euro, Japanese yen, pound sterling, and the U.S. dollar. The SDR valuation basket is normally reviewed every five years. The last review, which took place in 2000 (see Press Release No. 00/55), resulted in a revision of the weights assigned to each currency in order to take into account the introduction of the euro on January 1, 1999 and the growing role of international financial markets. The revisions in the valuation basket became effective on January 1, 2001 (see Press Release No. 00/87).