Quote:
clearly if you were to exchange 1 kuwait dinar in you would get 3.47 dollars for it.:flame:Quote:
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sorry, the table does not copy and paste correctly.
it says 1 kwd= 3.47 usd
and 1 usd = .28 kwd
Which is correct as DesertWolf had said. But I will go get a article (posted by a friend some where else yesterday) with no link that shows that the Kwaiti dinar is on the rise again since the .37% rise of the peg to the dollar change to the basket peg. Be right back.
BTW, Thanks Inscrutable for the Histroy of the Dinar exchange rates. :ro_emote:
Standard Chartered : Kuwaiti dinar will rise 0.35
(Voice of Iraq) - 28-06-2007
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Dubai (Reuters) - Standard Chartered Bank said on Thursday that Kuwait may allow its currency dinar continue to rise by 0.35% against the dollar in 2007 after emerging consensus on the Gulf states and other Arab oil-producing and ended the policy of linking the American dollar currency.
It remains the Central Bank of Kuwait dinar stable at 0.28806 against the dollar since May 20 May when adopting a basket of currencies and allowed owners about 37 t 0%.
He said that the Central Bank wants to contain the impact of higher import costs on inflation in light of a record decline of the dollar against the euro in April.
"Said Steve Price Director of Research region with Standard Chartered in the memorandum "It is obvious that the Central Bank is convinced that his solo and the rise of the dollar against other major currencies since then enough to control inflationary pressures now."
"He added "we expect the euro to resume its upward trend in the third quarter, which may tilt the balance in favor of lifting another single currency devaluation by about 0.35% to 0.2870 (dinars to the dollar)."
Standard Chartered expected rise of the dollar in the past including a one% in 2007.
Price said that the Central Bank will keep the dinar stable in the period from the last quarter of this year to the second quarter of 2008.
The Central Bank of Kuwait refused to reveal the details of the basket of currencies, saying only that it reflects the currency priced imports by the State and investments.
Price said that the basket used by Kuwait prior to adopt the currency's peg to the dollar in 2003 in preparation for monetary unit Gulf in 2010 were planned by 85% of the dollar and ten% of the euro and five% of the pound sterling.
Uncertainty surrounds the timetable for monetary unity since the Sultanate of Oman said last year it will not adhere to the 2010 final date for joining the single currency with Kuwait and the United Arab Emirates, Saudi Arabia, Qatar and Bahrain.
"The Gerard Lyons chief economist at Standard Chartered in London held today, Thursday, the bank estimated that the dinar now "linked by 98.5% in dollar terms."
But realise that they are not straying tofar from the dollar amount liked. I hear others saying that they will go back to the 100% dollar peg.
Even if there is no RV won't the Iraq stock just sell for 25,000 dinar or some inflated value per share?
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report of the managing council 2004 was prepared according to the demands of Central Bank of Iraq to balance US dollar price to0.310 ID instead of its real value (1460) ID per 1 US dollar, so, the report and general budget do not necessarily reflect the actual situation of Baghdad Bank and the volume of economical incoming indexes, so, this report was issued in order to meet the demands of the rules and instructions