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

A statement by the Kuwaiti Fund that this meeting is a continuation of the work on the support of the International Fund for the support of the reconstruction of Iraq and this was confirmed by all participants at the recent meeting in Abu Dhabi on the need to complete the examination of the development of the Covenant (contract) International with Iraq through a process of wide-ranging and at all levels local, regional and international levels

The Baghdad newspaper

CBI Auctions have resumed. Still showing 1473 dinars to the dollar.

Exchange Rates

Originally Posted by Dinarstars

Looks like the CBI held an auction this morning, from cbiraq.org

Announcement No.(795)

D.G. of Foreign Exchange Control

The 795 daily currency auction was held in the Central Bank of Iraq day Sunday 2006 / 10/ 29 so the results were as follows :

Details Notes
Number of banks 9 -----
Auction price selling dinar / US $ 1471 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 61.420.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 61.420.000 -----
Total offers for selling (US $) ----- -----

Cash amounts sold to the bank and its customers were USD(34.580.000) at a rate of(1471+1+10=1482)IQD\USD .
The amount sold to make transfers abroad was USD (26.570.000) at a rate of (1471-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

Okay, somebody explain this to me because it seems like alot of double talk or something very very fishy???

Cash amounts sold to the bank and its customers were USD(34.580.000) at a rate of(1471+1+10=1482)IQD\USD .

The amount sold to make transfers abroad was USD (26.570.000) at a rate of (1471-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee. This still comes out to 1470......???? is this coincidence....probably not. Could the auction amount sold to banks be the 10,000 gift not given yet...I am just taking stabs in the dark here....but the 1470 I do not think is a coincidence. Any thoughts???

Originally Posted by postcon

CBI Auctions have resumed. Still showing 1473 dinars to the dollar.

Exchange Rates

Yes you are right, but from where I am sitting it is showing 1471 for today, only 9 banks in the auction. No reval yet

Posted elsewhere. Useful reminder to compare other rates in the area.

Kuwait: 1 KDinar = 3.4 USD
Land Mass: 17,818 square kilometers
Population: 2.274 million
Government Type: Constitutional monarchy (stable)
GDP: $48 billion (2006 est.)
Assets: 13,300 oil reserves in million tonnes. Runs 2.0 million barrels per day (mbd) capacity is 2.5 mbd. Ships oil and refinined material.
Agriculture and livestock do not play a significant role in the economy of Kuwait as it is a very arid nation with a shortage of fresh water.
OPEC Member

Bahrain: 1 Bahrain Dinars = 2.7 USD
Land Mass: 711.9 square kilometers (among 36 islands)
Population: 700,000
Government Type: Monarchy (stable)
GDP: $13.01 billion (2006 est.)
Assets: Dwindling oil reserves but now has a thriving oil refinary industry. Is a model of modern developement in the Middle East. Has a strong tourism economy.

Oman: 1 ORial = 2.6 USD
Land Mass: 300,000 square kilometers
Population: 2,533,389
Government Type: Monarchy (stable)
GDP: $38.09 billion (2006 est.)
Assets: 700 oil reserves in million tonnes.
Major exports include petroleum, reexports, fish, metals, textiles. Very limited natural fresh water resources.

Jordan: 1 JDinar = 1.4 USD
Land Mass: 92,300 sq km
Population: 5,759,732
Government Type: Constitutional Monarchy (stable)
GDP: $25.5 billion (2006 est.)
Assets: Limited fresh water resources. Natural resources include phosphates, potash, shale oil.

Turkey: 1 New Lira = .74 USD
Land Mass:780,580 sq km
Population: 69,660,559
Government Type: Republican Parliamentary Democracy (stable)
GDP: $508.7 billion (2006 est.)
Assets: Coal, iron ore, copper, chromium, antimony, mercury, gold, barite, borate, celestite (strontium), emery, feldspar, limestone, magnesite, marble, perlite, pumice, pyrites (sulfur), clay, arable land, hydropower

Libya: 1 (LYD) = .73 USD
Land Mass: 1,759,540 sq km
Population: 5,765,563
Government Type: Military Dictatorship (stable)
GDP: $37.48 billion (2006 est.)
Assets: 1/4 GDP is from oil. Petroleum, iron and steel, food processing, textiles, handicrafts, cement, wheat, barley, olives, dates, citrus, vegetables, peanuts, soybeans; cattle. 3,900 oil reserves in million tonnes.
OPEC Member

Saudi Arabia: 1 SARiyal = .27 USD
Land Mass: 1,960,582 sq km
Population: 26,417,599
Government Type: Monarchy (stable)
GDP: $310.2 billion (2006 est.)
Assets: 35,700 oil reserves in million tonnes. Natural resources include petroleum, natural gas, iron ore, gold, copper. Severe lack of fresh water resources an extremely arid environment.
OPEC Member

Qatar: 1 QRiyal = .27 USD
Land Mass: 11,437 sq km
Population: 863,051
Government Type: Traditional Monarchy (stable)
GDP: $19.49 billion (2006 est.)
Assets: Significant Oil and Natural Gas reserves third largest in the World. Limited natural fresh water resources are increasing dependence on large-scale desalination facilities.
OPEC Member

UAE: 1 Dirham = .27 USD
Land Mass: 82,880 sq km
Population: 2,563,212
Government Type: Federation (stabe)
GDP: $63.67 billion (2006 est.)
Assets: Petrolium, Natural Gas. 2.5 million bbl/day A vital transit point for world crude oil. Lack of natural freshwater resources compensated by desalination plants; 12,700 oil reserves in million tonnes.
OPEC Member

Israel: 1 New Shekel = .22 USD
Land Mass: 20,770 sq km
Population: 6,276,883
Government Type: Parliamentary Democracy (stable)
GDP: $129 billion (2006 est.)
Assets:timber, potash, copper ore, natural gas, phosphate rock, magnesium bromide, clays, sand

Egypt: 1 EPound = .17 USD
Land Mass: 1,001,450 sq km
Population: 77,505,756
Government Type: Republic (stable)
GDP: $316.3 billion (2006 est.)
Assets: Crude oil and petroleum products, cotton, textiles, metal products, chemicals. Strained water sources mostly the Nile River regions.

Afghanistan: 1 Afghanis = .023 USD
Land Mass: 647,500 sq km
Population: 29,928,987 (July 2006 est.)
Government Type: Islamic republic (semi-stable)
GDP: $21.5 billion (2006 est.)
Assets: Land locked one of the lowest standard of living levels in the World. Poppy and opium cultivation may be equal to 1/3 of the national GDP. Fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems. Oil pipeline being built through Afghanistan.

India: 1 IRupees = .023 USD
Land Mass: 3,287,590 sq km
Population: 1,080,264,388 (July 2006 est.)
Government Type: Federal Republic (stable)
GDP: $3.319 trillion (2006 est.)
Assets: Textile goods, gems and jewelry, engineering goods, chemicals, leather manufactures, software. 800 oil reserves in million tonnes.

Syria: 1 SYP = .019 USD
Land Mass: 185,180 sq km
Population: 18,448,752
Government Type: Republic under military regime since March 1963 (stable)
GDP: $60.44 billion (2006 est.)
Assets: Petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining. Agriculture. Water assets but may be pressured by large population growths.

Pakistan: 1 PRupee = .017 USD
Land Mass: 803,940 sq km
Population: 162,419,946
Government Type: Federal Republic (semi-stable)
GDP: $347.3 billion (2006 est.)
Assets: Cotton, wheat, rice, sugarcane, fruits, vegetables; milk, beef, mutton, eggs, textiles and apparel, food processing, pharmaceuticals, construction materials, paper products, fertilizer, shrimp.

Yemen: 1 YER = .005 USD
Land Mass: 527,970 sq km
Population: 21,456,188 (July 2006 est.)
Government Type: Republic
GDP: $19.37 billion (2006 est.)
Assets: Petroleum, fish, rock salt, marble; small deposits of coal, gold, lead, nickel, and copper; fertile soil in west, grain, fruits, vegetables, pulses, qat, coffee, cotton; dairy products, livestock (sheep, goats, cattle, camels), poultry; fish, very limited natural fresh water resources; inadequate supplies of potable water; overgrazing; soil erosion; desertification

Sudan: 1SDinar = .004 USD
Land Mass: 2,505,810 sq km
Population: 40,187,486 (July 2006 est.)
Government Type: Authoritarian Regime (unstable)
GDP: $76.19 billion (2006 est.)
Assets: Petroleum; small reserves of iron ore, copper, chromium ore, zinc, tungsten, mica, silver, gold, hydropower, cotton, groundnuts (peanuts), sorghum, millet, wheat, gum arabic, sugarcane, cassava (tapioca), mangos, papaya, bananas, sweet potatoes, sesame; sheep, livestock.

Lebanon: 1 LPound = .0007 USD
Land Mass: 10,400 sq km
Population: 3,826,018 (July 2006 est.)
Government Type: Republic (semi-stable)
GDP: $18.83 billion (2006 est.)
Assets: Banking, food processing, jewelry, cement, textiles, mineral and chemical products, wood and furniture products, oil refining, metal fabricating.
Citrus, grapes, tomatoes, apples, vegetables, potatoes, olives, tobacco; sheep, goats

Iraq: 1 IDinar = .0007 USD
Land Mass: 437,072 sq km
Population: 26,074,906
Government Type: The Iraqi Interim Government (IG) was appointed on 1 June 2004. Interim Government Constitutional Parlimentary (Federated) Democracy. (semi-stable)
GDP: In 2004, the Iraqi GDP was $25.5 billion. 2005 projections were $29.3 billion. $54.4 billion gdp (2006 est.)
Assets: Petroleum, natural gas, phosphates, sulfur, large agricultural potentia (wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry). 13,400 oil reserves in million tonnes. 10% of potential reserves have been explored. IMF projections 2 to 2.5 mbpd for 2005-2006.
Before U.S.-led forces defeated Saddam Hussein, whose government also heavily subsidized gas prices for consumers, average annual oil production in Iraq was 2.5 million barrels per day. Iraq has large water sources many were dammed up and drained by the dictatorship of Saddam Hussein.
OPEC Member

Iran: 1 IRial = .0001 USD
Land Mass: 1.648 million sq km
Population: 68,017,860 (July 2006 est.)
Government Type: Theocratic Republic (semi-stable)
GDP: 516.7 billion (2006 est.)
Assets: Petroleum, petrochemicals, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), metal fabrication, armaments, wheat, rice, other grains, sugar beets, fruits, nuts, cotton; dairy products, wool; caviar. 12,000 oil reserves in million tonnes.
OPEC Member

Hey Adster....don't change your siggy yet....still holding out for October....not ready to concede to "Remember remember the reval in November."

Originally Posted by CharmedPiper

Hey Adster....don't change your siggy yet....still holding out for October....not ready to concede to "Remember remember the reval in November."

LOL, we'll see, been saying November for a while now.

Originally Posted by Adster

LOL, we'll see, been saying November for a while now.

Darn, I'm still saying July '06. Guess I better forget about that one now.

Gang...Yesterday I posted an article concerning Karl Rove. The reason I posted it was because of his "October Surprise" comment recently. After I posted it I went back to place the url to it, and saw that there was more to the article I hadn't seen. It was then that I realized that what I originally "THOUGHT I SAW" (in my mind) wasn't the case at all. (You had to be there... ) I have since deleted the post. I would've done it at the time I caught it, but I didn't know I could delete anything I post. It bothered me so badly I started looking around in the edit portion this morning and saw that I COULD delete it. Please forgive my ignorance in posting that GARBAGE. You say you don't know what I'm talking about? Good...it was NOTHING! For those who did read it...my humblest apologies.

Cheers!
DayDream

Forgive me Neno! I know this is not the right thread, but need this answered.
Because the CBI auction has taken place today, does that exclude any good news of a reval happening this month? Also, will it exclude Iraqs in the opening of the stock exchange at 5pm EST? Sorry to be so dense on this stuff. ...I am just a nurse...ask me something medical..
At any rate, I am really confused as to where we stand right now in our predictions. Can someone please help me out here? Thanks