Thread: "RollsRoyce . . . June 25 Tidbit!"

Thanks putsy..That should do it....

Originally Posted by putsy

History of Iraqi Dinar
1932-2005

Dinar History

After reading the link you provided, it shows a different rate in October of 2003 of 0.00027 than the 0.319????????? for March 2003 link I used: XE.com - Interactive Currency Table I am wondering if this is where the Sadam default rate come from. Very Interesting, since this is my first time to see this. Thanks Again.

The Potential of the Dinar

Prior to United Nations sanctions, the Iraqi dinar traded at 3.35 per U.S. dollar, and prior to the war in Iraq, the Iraqi dinar traded at .33 U.S. Dollars. During major combat operations, the Iraqi dinar declined to an all time low. However, after major combat operations, the value of the dinar increased 25%. Countries such as Germany (post WWII) and Kuwait (post Iraqi invasion) experienced a similar devaluation of their currency, but both countries recovered. Today, the dinar has increased from 3,500 against the dollar during the U.S. led invasion last year to 1,400 against the U.S. dollar. Imagine the growth potential of the Iraqi dinar once Iraq recovers and begins to enjoy the potential revenue of a country rich in oil and other natural resources.

The New Iraqi Dinar Banknote

Today, De La Rue, the world’s largest commercial security printer and papermaker based in Great Britian, prints the new Iraqi dinar banknote. The new Iraqi dinar banknote has various security features making the dinar very difficult to counterfiet, and the dinar banknote is now available in 50, 250, 500,1000, 5000, 10000, and 25000 bills. With the re-building of Iraq’s infrastructure and with the prospect of stability at hand, the Iraqi dinar is quickly becoming a very attractive investment opportunity.

The time to invest in the Dinar is now!


Dinar History

1932 Currency unit consisting of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86.

1932–1949 Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80 between 1949
* –1971.

1959–1967 Iraq officially uncoupled the dinar from the pound sterling as a gesture of independence in 1959, but the dinar remained
* at parity with the pound until the British unit of currency was again devalued in 1967.

1971 One Iraqi dinar remained equal to US$2.80 until December 1971, when major realignments of world currencies began.

1973 Upon the devaluation of the United States dollar in 1973, the Iraqi dinar appreciated to US$3.39.

1980 It remained at this level until the outbreak of the Iran-Iraq War in 1980.

1982 In 1982 Iraq devalued the dinar by 5 percent, to a value equal to US$3.22, and sustained this official exchange rate without additional devaluation de****e mounting debt.

1988 In early 1988, the official dinar-dollar exchange rate was still ID1 to US$3.22; however, with estimates of the nation’s inflation
* rate ranging from 25 percent to 50 percent per year in 1985 and 1986, the dinar’s real transaction value, or black market
* exchange rate, was far lower-only about half the 1986 official rate.

1986–2003 1986–2003 between .33 cents to 1.32 to a dollar.

2001 Oil-production: 2.452 million bbl/day (2001 est.); note — production was disrupted as a result of the March -
* April 2003 war (2001est.)

2002 GDP: purchasing power parity — $58 billion (2002 est.)

2002 Exports–partners:US 40.9%, Canada 8.2%, France 8.2%, Jordan 7.5%, Netherlands 6.4%, Italy 5.4%,
* Morocco 4.7%, Spain 4.4% (2002)

2003 In october 2003, the official dinar-dollar exchange rate was ID1 to US$0.00027.

2004–2005 August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 est.)


Positive Changes in Iraq

$0.31= 1 dinar was never a rate for the dinar. It was a mistake mae by someone long ago when they saw .31 dinar= $1 and somehow seems to have propagated across the dinar community as a pseudo fact.

Just to make it clear $0.31 WAS NEVER A VALUE OF THE DINAR IN THE PAST therefore it is insane to think they could return to this rate or that this rate would in anyway be a target value.

If I am wrong please show me the rate on any forex chart and not from some dealer site.

Thank you.
GD

Originally Posted by neno

After reading the link you provided, it shows a different rate in October of 2003 of 0.00027 than the 0.319????????? for March 2003 link I used: XE.com - Interactive Currency Table I am wondering if this is where the Sadam default rate come from. Very Interesting, since this is my first time to see this. Thanks Again.

You're welcome. Just found it in a search awhile ago on dogpile.com. Had never seen it before this.

Originally Posted by GerttiDinar

$0.31= 1 dinar was never a rate for the dinar. It was a mistake mae by someone long ago when they saw .31 dinar= $1 and somehow seems to have propagated across the dinar community as a pseudo fact.

Just to make it clear $0.31 WAS NEVER A VALUE OF THE DINAR IN THE PAST therefore it is insane to think they could return to this rate or that this rate would in anyway be a target value.

If I am wrong please show me the rate on any forex chart and not from some dealer site.

Thank you.
GD

The Potential of the Dinar

Prior to United Nations sanctions, the Iraqi dinar traded at 3.35 per U.S. dollar, and prior to the war in Iraq, the Iraqi dinar traded at .33 U.S. Dollars. During major combat operations, the Iraqi dinar declined to an all time low. However, after major combat operations, the value of the dinar increased 25%. Countries such as Germany (post WWII) and Kuwait (post Iraqi invasion) experienced a similar devaluation of their currency, but both countries recovered. Today, the dinar has increased from 3,500 against the dollar during the U.S. led invasion last year to 1,400 against the U.S. dollar. Imagine the growth potential of the Iraqi dinar once Iraq recovers and begins to enjoy the potential revenue of a country rich in oil and other natural resources.

Dinar History

I guess it is a Dealer site. Just never seen it before...But that statement is true. I will find it tomorrow and bring it here.

Originally Posted by neno

I guess it is a Dealer site. Just never seen it before...But that statement is true. I will find it tomorrow and bring it here.

Thank you, it would be very much appreciated.

Originally Posted by GerttiDinar

Thank you, it would be very much appreciated.

I am starting right here: Iraqi dinar - Wikipedia, the free encyclopedia Help