Thread: Iraq/Dinar News until 5/23/07 Midnight CST

I don't think there's really anything magical about 1260 - it was just the figure the budget was based on. Since they didn't move to 1260 right at the beginning of the year, I think it's a median, or average exchange rate for the year. Also, they change their minds a lot. And, anyway, this isn't a treasure hunt - they aren't leaving us clues! lol

Unless they're reading this forum and getting a kick out of our reactions!

Number of banks 15 -----
Auction price selling dinar / US $ 1259 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 69.415.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 69.415.000 -----
Total offers for selling (US $) ------ -----

Gooooooooooooooood Morning Rolclub


"The More They Take, The More We Make"
"Stay the Course, its the difference between Winners and whiners"


10.62 Trillion taken out and still the Party has not started


1. "1" Dinar rate change today, it was 1260, it is now 1259

2. A (net) worth of dinars, IQD - 87,393,485,000 pulled out of circulation today 5/23/07.

3. 15 banks participating today

4. 149th auction since the beginning of CBI's reval plan

5. 235 days into the CBI's reval plan. (Seven Months +)

6. 10,622,103,358,000 dinars pulled from circulation !!

6A. Conservative ESTIMATE of Dinars still in circulation or controlled by the CBI 6,377,896,642,000

7. "0" Dinars back into circulation today

8. 218 dinar change since Oct 1st (baseline was 1477) 14.759% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 1 point reduction in the rate so far this week. Was at 1260 at the end of last week, 1259 so far this week.

10. 10 point drop in the month of May. Ended at 1269 in April, now stands at 1259
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.
In April we saw a .3142% drop in the rate

Originally Posted by fredgwest1999

Is that all clear in a looped-loopy sort of way?!?

NO HOW NO WAY! There will be no loop!!! oops sorry... I mean lop.... never mind.

Originally Posted by Spoiledred

I THink 1259 WOULD BE positve as long as it keeps going in that direction. Just because it paused at 1260 doesnt mean its done, the fat lady didnt sing yet!

I'm glad to see another speculated benchmark surpassed. Much like the 1345 of last year, it was a gauge of progress, though this one arrived and was overcome a couple of months later than we expected or was advertised.

I always felt that this magic 1260 mark was merely a figure to gauge the value of the new budget in dinar as prescribed by Iraqi law.

One good thing though, it proves that the nay saying about 1260 being one of those exchange rate plateaus that the exchange rate would level out on was always wrong as most of us here already suspected.

I'm curious as to where we will stand come the first week of June with the ISX coming fully onboard in the first week if not the first of the month.

I have believed launch time should be prior to that moment as it was reported months back that the Iraqis were concerned about "selling on the cheap" so I remain very optimistic in these coming days and 1259 was a good sign though 1.26 or higher would be a better sign.

well so much for the 1260 then the big push....its clear that this will be a slow growing investment....its either that or loop...i hate to say it but im starting to feel the best profits in this investment are going to be made in the ISX

[QUOTE=Socata 850;203944]Number of banks 15 -----
Auction price selling dinar / US $ 1259 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 69.415.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 69.415.000 -----
Total offers for selling (US $) ------ -----

Well, 1259! Suddenly - anything is possible!

There is simply no stopping this methodical plan to revalue their currency.

Regardless of what we might think - the CBI is intent on following through.

What does it mean for us? Moocho buckaroonies!

(There is really no way to put this in a negative light. We're below 1260 - entirely uncharted waters - from here on, anything can happen at any time!)

(Not to mention - we're already making money!)

(Keep your chins up - this is where we separate the men from the boys!)

1259 is insignificant in the big picture, it's just one tick lower than 1260...

It neither supports a reval theory nor debunks one.

The term "Reval" is a term concocted on the forums as a "Bold Adjustment" that WILL occur someday.

Remember that this is a REAL LIVE COUNTRY we are talking about here.

Government, population, turmoil, foreign occupation....

This is a constantly changing environment and we are mere speculators in an investment that even professionals are uncertain of.

The Dinar is "Revaluing" before our eyes. Every day the rate drops, the value goes up, hence a changing value.

We all hope for a sudden and dramatic increase in value, but I'll take whatever they can give.

I am truly more concerned with the safety of the Iraqi people and the safe return of our troops than I am for the "revaluing" of the damn Dinar.

Patience is a virtue. We must all be very "Virtuous".

Thank you.

[QUOTE=Hardwood;203951]1259 is meaningless.

I don't know about you - but I'm making money - and that is anything but meaningless!

This is the first time on record that the CBI has officially gone beyond what they said they were going to do!

From here on - everything is exciting!

If anyone can be negative now - it's only because they don't own any dinars (they're not making any money)!

[QUOTE=billknows;203953]

Originally Posted by Hardwood

1259 is meaningless.

I don't know about you - but I'm making money - and that is anything but meaningless!

Editted post for clarity Bill. I agree. That was the point of my post!

I'm with ya.

You and I are saying the same thing.. It just seems others are "expecting" a fast and huge return, and when it doesn't happen, they feel "let down".

This has been going on like this for years now so I've grown accustom to the slow grow....a sudden "Bold Adjustment" would be quite a shock!

Let's just hope this 1259 is not their BOLD adjustment.