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

.S. DollarExchange
RateKuwaiti DinarBidAskUSDKWD=X1Jun 290.28810.28810.2881

Kuwaiti DinarExchange
RateU.S. DollarBidAskKWDUSD=X1Jun 293.47103.4710

clearly if you were to exchange 1 kuwait dinar in you would get 3.47 dollars for it.

sorry, the table does not copy and paste correctly.
it says 1 kwd= 3.47 usd

and 1 usd = .28 kwd

Originally Posted by cooldolphins

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.

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.

Originally Posted by dinartank

Is this your SPECULATION or is there any hard evidence(link or news report) that switzerland has large amounts of gold in holding that belongs to the nation of iraq? I have heard of something like this before in the past but was it ever proven or was it hearsay?

it was an article on al sabaah i believe which would make it very real. the gold that was found did back all of the dinar in circulation to the $3. + range but since they discovered it, some of that gold has been reported as stolen and/or missing.

Originally Posted by neno

There has been articles of the finds, along with even more in other countries. If you search the old Iraq/Dinar News threads, you will find them. Asfar as if they were used to back Sadam's rate, I dont know that one, or if they were just out of country stash's he had that have been discovered. But there is alot of Gold that has been discovered. Reports never really clarified that.

the article did state that there was enough gold in switzerland to support the dinar at the rate which saddam had it set.

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

was it not the bank of baghdad that has had the rate of .31:1usd listed i believe??

Even if there is no RV won't the Iraq stock just sell for 25,000 dinar or some inflated value per share?

Originally Posted by shotgunsusie

was it not the bank of baghdad that has had the rate of .31:1usd listed i believe??

That is the "Official" CBI Rate

Originally Posted by Bubba Dinar

That is the "Official" CBI Rate

page

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