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

Voices of Iraq: Kurdistan-German
Posted by: nadioshka on Wednesday, November 08, 2006 - 07:14 PM

Kurdistan-German
Kurdistan signs MOU with German companies
By Aziz Mahmoud
Sulaymaniya, Nov 8, (VOI) – Iraqi Kurdistan government on Wednesday signed a memorandum of understanding with a German delegation representing 200 companies, Kurdish minister of building and reconstruction said.
“The delegation arrived on Tuesday and signed a memorandum of understanding with the ministry concerning cooperation in reconstruction, investment and services,” Emad Ahmed told the independent news agency Voices of Iraq (VOI).
“Contracts signed between the ministry and German companies will soon be implemented,” the minister added.
This is the second visit by the German delegation to Kurdistan in as many months.

Kurdistan-German :: Aswat al Iraq :: Aswat al Iraq

CBI witnesses the highest circulation & exchange rate of the dollar

The auction of the Iraqi Central Bank witnessed yesterday, Tuesday, the highest demand on purchasing the dollar during the current year as well as the higher exchange rate for the dollar for over a year.

Also, several banks sold dollars to the Bank where the demand for purchase registered $109 million and 150 thousand, compared with 70 million during the previous session.

The demand registered yesterday was the highest during the current year and the bank fully covered it with the minimum exchange rate for the current year, recording 1468 dinars against 1470 dinars in the previous session: 41 million and 650 thousand dollars in cash and 67 million and 500 thousand dollars in the form of remittances to outside the country.

In return, Banks submitted bids to sell the dollar, hit three million dollars, at an exchange rate of 1466 dinars all bought by the Bank.

The economic expert, Abdul Razzaq Al-Abayachi, said that several factors helped to raise demand for the dollar; the most important of which are the suspension of the auction for more than five days because of the curfew and the holiday on Friday and Saturday, as well as the high volume of remittances after sentencing the former President, Saddam Hussein, to death due to peoples fear of deteriorating the security situation.

IRAQ WRAPUP 4-US envoy says Bush still committed to Iraq
Wed Nov 8, 2006 9:26am ET

Updates with Bush comments, Rumsfeld resignation)

By Ibon Villelabeitia

BAGHDAD, Nov 8 (Reuters) - The U.S. ambassador in Baghdad told Iraqis on Wednesday President George W. Bush would work with Democrats to succeed in Iraq, but many here doubted Democrat election gains would bring respite from violence.

Bush himself said in Washington his Republican Party's election defeat did not mean the United States would withdraw prematurely but conceded his Iraq policy was "not working well enough, fast enough".


He also announced at a news conference that Defense Secretary Donald Rumsfeld, closely associated with the 2003 U.S.-led invasion of Iraq, was stepping down, to be replaced by former CIA director Robert Gates.

Seeking to reassure Iraqi leaders there would be no major policy change after the Republicans lost control of the House of Representatives, envoy Zalmay Khalilzad said: "The president is the architect of U.S. foreign policy."

Iraqi leaders say they need more U.S. help to quell mounting sectarian violence, although polls suggest most Iraqis would like to see foreign troops leave soon.

"He (Bush) is the commander in chief of our armed forces. He understands what's at stake in Iraq," Khalilzad said.

"He is committed to working with both houses of the American Congress to get support needed for the mission in Iraq to succeed," he told a reception attended by government officials, Iraqi legislators and embassy personnel. Continued...

http://today.reuters.com/news/articl...&from=business

Originally Posted by CharmedPiper

CBI witnesses the highest circulation & exchange rate of the dollar

The auction of the Iraqi Central Bank witnessed yesterday, Tuesday, the highest demand on purchasing the dollar during the current year as well as the higher exchange rate for the dollar for over a year.

Also, several banks sold dollars to the Bank where the demand for purchase registered $109 million and 150 thousand, compared with 70 million during the previous session.

The demand registered yesterday was the highest during the current year and the bank fully covered it with the minimum exchange rate for the current year, recording 1468 dinars against 1470 dinars in the previous session: 41 million and 650 thousand dollars in cash and 67 million and 500 thousand dollars in the form of remittances to outside the country.

In return, Banks submitted bids to sell the dollar, hit three million dollars, at an exchange rate of 1466 dinars all bought by the Bank.

The economic expert, Abdul Razzaq Al-Abayachi, said that several factors helped to raise demand for the dollar; the most important of which are the suspension of the auction for more than five days because of the curfew and the holiday on Friday and Saturday, as well as the high volume of remittances after sentencing the former President, Saddam Hussein, to death due to peoples fear of deteriorating the security situation.

Just so we're clear--The CBI is buying dollars...."several banks sold dollars to the Bank (Central Bank of Iraq, that is) where the demand for purchase registered $109 million..." Looks to me that they are BUYING DOLLARS WITH DINARS, Hence the headline reported a while back "largest circulation" --of Dinars....

Originally Posted by bigred52

THOUGHTS FOR THE DAY
In case we find ourselves starting to believe all the anti-American
sentiment and negativity, we should remember England's Prime Minister
Tony Blair's words during a recent interview. When asked by one of his
Parliament members why he believes so much in America,he said:

"A simple way to take measure of a country is to look at how many
want in .... and how many want out. Only two defining forces have ever
offered to die for you:
1. Jesus Christ
2. The American G. I.
One died for your soul .. the other for your freedom."

DON'T FORGET IT !!!!!!!

Originally Posted by ordinaryseawoman

Just so we're clear--The CBI is buying dollars...."several banks sold dollars to the Bank (Central Bank of Iraq, that is) where the demand for purchase registered $109 million..." Looks to me that they are BUYING DOLLARS WITH DINARS, Hence the headline reported a while back "largest circulation" --of Dinars....

On most days the CBI only buys Dinars NOT DOLLARS. These past two days they did buy a total of 6,000,000 Dollars.
FOR THE MOST PART THEY BUY DINAR!! THATS A FACT!!
THAT IS WHY THEY ARE CALLED DOLLAR AUCTIONS.

Originally Posted by paynes1

This was a projected number. The International compact has 22 member countries in which 8 of them represent the G-8 countries of the world. The G-8 is responsible for 65% of the worlds trade. You now have the Worlds economies backing the dinar and we waiting for them to get thier ducks in a row in order to trade Internationally. Less than 1 to 1 is not a option. I am really surprised the naysayers dont get this.


Marshall Plan = International Compact

Well, it is about time this has been explained in a post. Less than 1:1 is not a Option? That is awsome to here that the Worlds Economies along with the G-8 that help make up the 22 Powerhouses are just waiting on them Ducks to line-Up. Glad to see this posted paynes1. Been awhile since this has been mentioned.

Originally Posted by neno

Well, it is about time this has been explained in a post. Less than 1:1 is not a Option? That is awsome to here that the Worlds Economies along with the G-8 that help make up the 22 Powerhouses are just waiting on them Ducks to line-Up. Glad to see this posted paynes1. Been awhile since this has been mentioned.

Got a link

Back in the History Thread there are plenty, sorry. Use the search function in that thread.-neno

Originally Posted by frathousemicrowave

On most days the CBI only buys Dinars NOT DOLLARS. These past two days they did buy a total of 6,000,000 Dollars.
FOR THE MOST PART THEY BUY DINAR!! THATS A FACT!!
THAT IS WHY THEY ARE CALLED DOLLAR AUCTIONS.

What exactly does this mean for all of us dinar holders?
thanks, sarah!!GO DINAR GO!!!!

Originally Posted by snottynose

What exactly does this mean for all of us dinar holders?
thanks, sarah!!GO DINAR GO!!!!

Ihave had probs.with this to. OSW helped me with it about 1 year ago . thay are a iraq bank so thay sell denar. up until now the rate thay have set it at is so people wood want to buy it . now in this last week thay have changed the rate so people will want to sell .butt not so high so as to cost the bank a lot of$$ anyway

thats how i see it