Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by neno

I tried to put in a order today that will force them to give me a smaller denomenation thru my Wachovia Bank. I usally go to Chase. But I thought I would try one of my other Banks to see if they come thru. They said that they can do it. But would have to place the exchange on Monday morning. I will have my wife do this and follow up with the info. Unless we get the r/v before. I still have the Day Job M-F.

My point of this is Wachovia bank says they can now do the exchanges too. I guess more Banks are getting involved. Will see Monday.

weeeeeeeeeeeeeeeeeeee!!!!!!!!!
what did you ask for? what smaller denoms would it take??
did you ask to see what size of bills you could order????

Originally Posted by ramplead

If SGS should happen to see my post maybe she can do a quick recap? Thanks!

we MIGHT have wto status
maliki trip postponed until monday
big announcement by repubs on monday
un investment projection embargoed until monday (even tho you found the link brain, part of that document could very well be still embargoed. anything that was 'market sensitive material' would be pulled out.)

What was said by the gurus:

“In particular, fast increases of foreign reserves indicate attempts to dampen appreciation pressure.”

The result:

“Demand for the new currency has been so strong that the government has earned an amazing $5 billion in seignorage during the past year just supplying it.”

“The (net) international reserves of the CBI, which reached $11.5 billion at end-2005, grew further to $12.7 billion by end-April, above projected levels under the SBA and comfortably above the program floor (performance criterion) of $7.5 billion.”



What was said by the gurus:

"To prevent the domestic currency from appreciating, the monetary authorities sell (buy) domestic currency in exchange for dollars, euros or yen. The stronger the efforts to stabilize the exchange rate, the higher is the probability that monthly changes of official foreign reserves fall outside a predetermined band."

The result:

[B]"Foreign exchange auctions, in which the CBI buys or sells dollars to the market in light of its policy objectives."

"From Jan 2004 up to 12 Oct 2006 the CBI has auctioned a total of $22,604,286,000, equivalent to 33,204,831,081,000 IQD"

Where'd all the IQD go?

Originally Posted by day dreamer

Doesn't CBI post today for them, in morning for us,????

Here is what I see with their current time today. Sunday Morning for them.
Baghdad Time: 07:50am, 10/15/2006 ~ market is closed | $1 USD = 1470.63 IQD ^

Iraq Stock Exchange Data featuring Quotes, Iraqi Market News and ISX Analysis

Originally Posted by shotgunsusie

we MIGHT have wto status
maliki trip postponed until monday
big announcement by repubs on monday
un investment projection embargoed until monday (even tho you found the link brain, part of that document could very well be still embargoed.)

thanks susie!! I would say all this means something good might be around the corner! Will keep my fingers crossed not only for the people of Iraq but for all rolclub members!

Originally Posted by shotgunsusie

weeeeeeeeeeeeeeeeeeee!!!!!!!!!
what did you ask for? what smaller denoms would it take??
did you ask to see what size of bills you could order????

It was just a test to see if I could get the USD worth instead of the way I order thru Chase with even anounts of dinar. This time I ask for even amounts of USD. should recieve the 1 dinar cion as well.

I usally ask at Chase for a Million are 1/2 Million dinar order. This time as I am trying Wachovia I ask for $100 worth of Dinar. If their exchange rate is anything like Chase's then they will have to change me to very small dinar's. I want know their exchange rate until Monday. Unless .

According to the gurus:

“The nominal exchange rate is defined as the number of units of the domestic currency that can purchase a unit of a given foreign currency. A decrease in this variable is termed nominal appreciation of the currency. (Under the fixed exchange rate regime, a downward adjustment of the rate is termed revaluation.) An increase in this variable is termed nominal depreciation of the currency. (Under the fixed exchange rate regime, an upward adjustment of the rate is called devaluation.)”

“By contrast, the real exchange rate is defined as the ratio of the domestic price level and the price level abroad, where the latter is converted into domestic currency units via the current nominal exchange rate. This rate tells us how many times more goods and services can be purchased abroad (after conversion into a foreign currency) than in the domestic market for a given amount. In practice, changes of the real exchange rate rather than its absolute level are important. An increase in the real exchange rate is termed appreciation of the real exchange rate, a decrease is termed depreciation.”

What the IMF said:

“It is also possible that rising international crude oil prices and growing spending power in the economy are pushing up Iraq’s equilibrium real exchange rate. With the nominal exchange rate fixed, the real exchange rate adjustment is reflected in a rising domestic price level.”

Originally Posted by neno

It was just a test to see if I could get the USD worth instead of the way I order thru Chase with even anounts of dinar. This time I ask for even amounts of USD. should recieve the 1 dinar coin as well.
I usally ask at Chase for a Million are 1/2 Million dinar order. This time as I am trying Wachovia I ask for $100 worth of Dinar. If their exchange rate is anything like Chase's then they will have to change me to very small dinar's. I want know their exchange rate until Monday. Unless .

is that your assumption or is that what they said??

Originally Posted by shotgunsusie

is that your assumption or is that what they said??

Assumption. But I did say $100 worth. But we will see.

Originally Posted by neno

Assumption. But I did say $100 worth. But we will see.

I have a friend who ordered this way at chase and they just rounded off to the nearest 25k dinar.