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

Originally Posted by $onedaysoon$

This translation is crap, anyone out there that can shed some light on this!!!

please do not overlook this people



A sudden rise of the dollar exchange rate in Iraq
بسبب عطلة العيدBecause of holiday
المصدر : الشرق الأوسط - 24/10/2006Source : Middle East-24 / 10 / 2006

The observers of the currency market that any appropriate punctuated by public holidays and special continuing for several days is expected to raise the value of the American dollar against the Iraqi dinar but the difference is limited only in the most serious cases of 1500 dinars to the dollar, because such increases in the view of some speculators will be temporary, They fear from the Iraqi Central Bank by stopping safety valve of the Iraqi dinar and the market. Even the view that the bank market rose as the case already before this year and a half it would go a vacation to begin offering large amounts of hard currency on the market and directly and at prices lower than the price of this transaction and believe more speculators nervous about keeping large quantities within their bags due to the risk of loss. But dealing in the market on the basis of supply and demand, this means that speculators small dealers with any citizen would have very high profits for this reason any of supply and demand. And the expectations of market prices between the observer that the dollar exchange rate in the auction, the central place in the Central Bank of Iraq finally began to retreat before the Iraqi dinar, as the bank began raises huge amounts of dollars because of the need of local government to criticism, especially as the volume of government consumption increased recently and this requires secure Sarvia T. through the auction. Finally, the supply has increased from $ 35 million to $ 60 million per day.

Full story follow link

Translated version of http://www.iraqdirectory.com/DisplayNewsAr.aspx?id=2384

looks like speaking of r/v before foriegn investment starts in
anyone else....buller........buller......buller

Originally Posted by CharmedPiper

I ran across an old article when the new currency came out and we know there are 2 coins in circulation but according to the article there were 3 coins printed. Can anybody confirm if typo or are they being sneaky and hiding currency on us??

Sunday, January 2nd 2005
Central Bank issues coins of 25, 50 and 100 dinars for circulation

The Central Bank of Iraq will be issuing coins of 25, 50 and 100 dinars for circulation starting today. The coins have been issued according to the following specifications of the Central Bank:

The front side of the coin shows the map of Iraq with two dates Hegira, 1425 and A.d., 2004.

The back side of the coin contains a circle that has the denomination of the coin within the circle (25, 50, 100 dinar); "Central Bank of Iraq" is written on the top of the coin, while the denomination of the coin is written on the bottom.

Dinar denomination ; Metal ; Diameter mlm ; Weight, Gram ; Shape

100 ; Nickel plated steel ; 22 ; 4.3 ; Circle/jagged

50 ; Brass plated steel ; 20 ; 3.5 ; Circle/smooth

25 ; Copper plated steel ; 17.5 ; 2.5 ; Circle/smooth

this is correct 3 coins minted (that we know of)
Rare 50 Dinar Coin 2004
eBay: NEW 2004 IRAQ 50 Dinar Coin - UNC - SUPER RARE IRAQI (item 130038078626 end time Oct-27-06 16:06:36 PDT)

Originally Posted by $onedaysoon$

this is correct 3 coins minted
Rare 50 Dinar Coin 2004
eBay: NEW 2004 IRAQ 50 Dinar Coin - UNC - SUPER RARE IRAQI (item 130038078626 end time Oct-27-06 16:06:36 PDT)

Yes, but I recall talk about back when they were introduced, one of the coin denoms was stolen as it was in transit to the banks. Due to the high amount of the theft, the coin was revoked from circulation. (or something along those lines)

nice sig SGS

"The rise in the value of the Iraqi currency against the dollar would reduce the value of imports, and raising the value of exports. As exports are negligible, the economy will benefit from the policy of raising the rate of the Iraqi dinar." --Undersecretary of the Iraqi Ministry of Finance Kamal Al-Basri 10-23-2006

Originally Posted by Vipor

Yes, but I recall talk about back when they were introduced, one of the coin denoms was stolen as it was in transit to the banks. Due to the high amount of the theft, the coin was revoked from circulation. (or something along those lines)

I recall the same thing, but cannot find anything on it

Originally Posted by MrsCK

I JUST NEVER KNOW WHAT I WILL FIND ON GOOGLE - BUT THIS PUT A HMMMM

ALSO THE "IRAQ DINAR" LINK DON'T WORK ON THE WEBSITE - HMMMMMM

LINK
participating banks

In addition to the five Operating Consortium banks, a group of world-class banking institutions have joined the Trade Bank of Iraq Consortium as Participating Banks. These banks were selected for their geographic breadth, the strength of their trade finance franchise, and their commitment to doing business in the Middle East.

Participating Banks further broaden the client base and global reach of TBI. The larger group of banks is also positioned to engage a wider circle of export credit agencies to provide coverage for exports to Iraq. These banks will also be engaged to line up financing during future phases of the Trade Bank. These banks will also form the nucleus of TBI's correspondent banking relationships.

Akbank TAS .................................... (Turkey)
Bank of China ....................................... (China)
Bank of Tokyo-Mitsubishi ..................... (Japan)
Calyon ....................................... (France)
DBS .......................................... (Singapore)
Gruppo SanPaolo IMI S.p.A ..................... (Italy)
Internationale Nederlanden Group ....... (Netherland)
Millennium BCP .................................. (Portugal)
Royal Bank of Canada ....................... (Canada)
Standard Bank Group Limited ............... (South Africa)
State Bank of India ........................... (India)
Vneshtorgbank (Bank for Foreign Trade) ....... (Russia)
Woori Bank .................................. (Korea)

Between the Operating Consortium and the Participating Banks, the Trade Bank of Iraq is able to reach every corner of the world. Our Partners presence throughout the world is truly impressive.

PSST ............ Wanna google RV for us now as this it great proof that iraq is moving forward and if i am not mistaken the TradeBank acts as a guarantee for fx banks who want to do business in Iraq or so i have been told by someone a lot smarter than myself

again thanks for the post and keep on googling

For petes sake this is H2O_Lover posting ...SGS signed in on my computer and i did not know it when i posted ...SORRY !

is she still postin as me??? lmdao!!!!!!!!!!!!!! woOt!!!

Remember the article stating it would cost $20 billion to refurbish Iraq's oil infrastructure, and Exxon had made over $10 billion the previous quarter? Here's 3rd quarter's results for Exxon:

Oil industry behemoth Exxon Mobil (XOM, news, msgs) said this morning that its third-quarter earnings rose to $10.49 billion, the second-largest quarterly profit ever recorded by a publicly traded U.S. company.

C'mon Iraqis, stop cutting off your own oil to spite your rival sect - reconcile and reval already!

Originally Posted by CharmedPiper

I ran across an old article when the new currency came out and we know there are 2 coins in circulation but according to the article there were 3 coins printed. Can anybody confirm if typo or are they being sneaky and hiding currency on us??

Sunday, January 2nd 2005
Central Bank issues coins of 25, 50 and 100 dinars for circulation

The Central Bank of Iraq will be issuing coins of 25, 50 and 100 dinars for circulation starting today. The coins have been issued according to the following specifications of the Central Bank:

The front side of the coin shows the map of Iraq with two dates Hegira, 1425 and A.d., 2004.

The back side of the coin contains a circle that has the denomination of the coin within the circle (25, 50, 100 dinar); "Central Bank of Iraq" is written on the top of the coin, while the denomination of the coin is written on the bottom.

Dinar denomination ; Metal ; Diameter mlm ; Weight, Gram ; Shape

100 ; Nickel plated steel ; 22 ; 4.3 ; Circle/jagged

50 ; Brass plated steel ; 20 ; 3.5 ; Circle/smooth

25 ; Copper plated steel ; 17.5 ; 2.5 ; Circle/smooth

Will see what I can find - I have 1 Nickel coin and 1 copper coin in my desk.

Originally Posted by Vipor

Yes, but I recall talk about back when they were introduced, one of the coin denoms was stolen as it was in transit to the banks. Due to the high amount of the theft, the coin was revoked from circulation. (or something along those lines)

I believe it was the 50 Dinar coin that the shipment was stolen - this was discussed at IIF in July or August - some of the 50 Dinar coins surfaced on Ebay recently

Originally Posted by CharmedPiper

I was doing some comparing of old iraqi dinar to new and you would be amazed at how similar they are to old currency. I would not be surprised if they re-used old plates when printing with only some denomination changes. If this theory is true...then to reprint smaller denominations would not be such a big deal if they were re-using old plates. Saddam actually used DeLaRue to print some of his currency in the past and they still had his plates there. (I know I need to get a life) anyway check out the link and compare it to the new currency we have...just a little trivia.

New 50 dinar same as 1973 1/4 dinar P61...watermark was eagle head. Same both sides.
New 250 dinar same as 1992 1/2 dinar P78...eagle watermark. Same both sides.
New 500 dinar same as 1973 10 dinar P65. Front same, back similar.
New 1000 dinar same as 1992 1 dinar P79. Front and back same.
New 5000 dinar same as 1980-82 5 dinar P70. Front and back same.
New 10,000 dinar same as 1981-83 10 dinar P71. Same front and back with horsehead watermark.
New 25,000 dinar -- Similar to some monuments on others but unique overall.

iraq

Hey CP according to what I read 1 1/2 years ago when I get involved in this they in fact did use some of the old plates.