Here we go up until Gulf War
The dinar was introduced into circulation in 1931, replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 13⅓ rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the U.S. dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5% devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported as being five to six times (1.86 dinars for US$1) higher than the official rate.[1]
Iraqi dinar - Wikipedia, the free encyclopedia
economic blockade, I presume the US sanctions
After the Gulf War in 1991, and due to the economic blockade, the previously used Swiss printing technology was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to excessive government printing of the new notes issue, the dinar devalued fast, and in late 1995, US$1 equalled 3000 dinars.
and finally up to April 2006
Between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed by De La Rue using modern anti-forgery techniques, to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people’s everyday lives."[2] Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar.
Although the value of the dinar appreciated following the introduction of the new banknotes from 4000 dinars per U.S. dollar, at the time of their introduction, to a high of 980 dinars per dollar, it is now held at a "program" exchange rate, as specified by the International Monetary Fund[citation needed], of 1263 dinars per US dollar at the Central Bank of Iraq. However, there is not yet a set international exchange rate and so international banks do not yet exchange Iraqi dinar. The exchange rate available on the streets of Iraq is currently around 1500 dinars per US dollar (April 2006).
And Now the "SPECULATION" from the site.
On May 3, 2007, the IMF released a statement in relation to the international compact with Iraq, which has turned the tide in regards to speculation on the Iraq dinar. The contents of the article discuss changes made in Iraq on the economic front of how the Iraq government had eliminated fuel subsidies. The article also stated that the Central Bank of Iraq had raised interest rates in an attempt to allow a gradual appreciation of the dinar in an attempt to fight dollarization of the Iraq economy. Although there are claims of wide-spread optimism of some language used later in the press release among some dinar speculators, there have been no publicly released statements or analysis by any news sources or governments. [3]
I guess I am a sucker, cause that info is "HogWasH" in Blue and underlined!!!! Will dig up some more tomorrow.
Neno, I understand the concept.
Quote:
Originally Posted by
neno
You Planed well. OSW was my mentor as for the strategy he put forth. But, after the first million cashed in, he has always mentored the group to not cash all in. I agree with him totally for the future of the dinar, or unless it does come in high or rises high quickly. Then I am out just as quick as well. It is good to have a strategy in anything. Good for you and your bud's.
I agree with your thoughts on the dinar. If it comes in high I'm out. But if not, I'll cash in enough to be comfortable and wait for the rise in value that is sure to come. I have this as my post rv strategy. In my opinion it could go either way. There are compelling arguments for all three outcomes. High rv, lower rv and slow growth. The one thing I really don't see is a retreat in value.