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

Originally Posted by clueless

Mike, do you have any knowledge about the details of the Afghan situation? How much did that exchange rate actually change in 2003?

Thanks.

As I recall, it was 1000%, but I forget what that would be in dollars or EU.

Good luck to all, Mike

great info mike!!! thanks for the post...

Geez! I leave for a simple field trip with one of my daughter's, come back and find 2 pages worth of posts. Can't leave anything unattended around here! LOL But on a serious note

GREAT NEWS ADAM AND MIKE! THANK YOU SO MUCH!


It won't be long before this party is started!

Thanks for that information Mike. I have always wanted to know what "zero lopping" was and now I have a clear understanding of it now. Great forum!
Thanks,
Michael

Friday, June 02, 2006



Jordan's Muslim Brotherhood Calls on Shiite Religious Authorities to Prohibit Attacks on Sunnis in Basra

From the USG Open Source Center, an article on Jordan's Islamic Action Front, the political wing of the Muslim Brotherhood there, calling on Khamenei, Sistani, Fadlullah and others to forbid attacks on Sunnis. The immediate context is the fears of the Basra Sunni community, which is tens of thousands strong in the largely Shiite city of 1.3 million. Its leader say it is being ethnically cleansed. This call is a sign of the further internationalization of the Sunni-Shiite conflict in Iraq.

' Al-Ra'y: IAF Calls on Shiite Religious Authorities To Prohibit Targeting Sunnis
Report by Majid al-Amir entitled: "Islamic Action Front Calls on Shiite Authorities to Prohibit Targeting Sunnis"

Al-Ra'y

Thursday, June 1, 2006 T15:19:07Z


Amman, 1 June (2006) -- Hamzah Mansur, head of the Islamic Action Front (IAF)'s Shura Council, has called on Shiite religious authorities in Iran, Iraq, and Lebanon to prohibit the targeting of Sunni Muslims by Shiite Muslims. This comes against the background of the recent decision of the Sunni Waqf Council in the city of Basra to close 170 mosques to protect the lives of Muslims and to prevent their displacement from their homes.

In the letters sent to the Shiite religious authorities and posted on the IAF website, Mansur condemned targeting the Sunni mosques in Basra and threatening the worshipers of killing and displacement. He said: "We view these practices with great concern because they serve the US-British scheme, which was a complete fiasco in Iraq due to the steadfastness of the Muslim Iraqi people and their valiant resistance. This scheme deliberately intended to foment sectarian disagreements to cause suffering among Muslims and make them the victims."

The IAF Secretariat General sent yesterday the letters to Ali Khamene'i, the supreme guide of the Islamic Revolution in Iran; Ali al-Sistani, Iraqi Shiite authority; Muhammad Husayn Fadlallah, the Lebanese Shiite authority; Hasan Nasrallah, secretary general of the Lebanese Hizballah; Muqtada al-Sadr, Iraqi Shiite authority; and Jawad al-Khalisi, Iraqi Shiite authority.

(Description of Source: Amman Al-Ra'y in Arabic -- Jordanian daily of widest circulation; partially owned by government. Internet version also available at: http://www.alrai.com/) '

Mike (OSW),

Thanks for your explanation, it was interesting to read your comments and your slant suggesting that any 'zero lopping' in Iraq would be from the exchange rate rather than from the currency.

I don't disagree with you, but there are two recent examples of countries who have lopped zero's from their currencies in order to revalue. These are Turkey and Romania.

However, in order to achieve this, they had to bring out new currencies to replace their existing, and over a period of time.

Of course, Iraq already has it's new currency in existence.

Nevertheless, do you consider it a possibility that Iraq may actually use 'zero lopping' as the method of revaluation rather than the way we hope it will go?

If so, then our Dinars will fetch useful money in exchange, but would not make us millionaires.

Your thoughts on this would be appreciated.

Regards
Neil

Hi , I just came across this in a website and found this very interesting. Iran is one of the major oil producing nations in the world and thier money value is worse than Iraq. Can anybody please explain why?

Friday, June 2, 2006


1 Iranian Rial = 0.0001139 US Dollar
1 US Dollar (USD) = 8,783.40 Iranian Rial (IRR)

Median price = 0.0001045 / 0.0001139 (bid/ask)
Minimum price = 0.0001043 / 0.0001136
Maximum price = 0.0001047 / 0.0001140

FXTrade: Online Currency Trading with OANDA FXTrade.
FXDelivery: Get your Foreign Currency and Travelers Cheques delivered to your home for your next trip.


FXConverter™: Classic 164 Currency Converter © 1997-2005 by OANDA.com.

Originally Posted by jpowell9216

Hi , I just came across this in a website and found this very interesting. Iran is one of the major oil producing nations in the world and thier money value is worse than Iraq. Can anybody please explain why?

Friday, June 2, 2006


1 Iranian Rial = 0.0001139 US Dollar
1 US Dollar (USD) = 8,783.40 Iranian Rial (IRR)

Median price = 0.0001045 / 0.0001139 (bid/ask)
Minimum price = 0.0001043 / 0.0001136
Maximum price = 0.0001047 / 0.0001140

FXTrade: Online Currency Trading with OANDA FXTrade.
FXDelivery: Get your Foreign Currency and Travelers Cheques delivered to your home for your next trip.


FXConverter™: Classic 164 Currency Converter © 1997-2005 by OANDA.com.

I would like to have comments on this too from those more knowledgeable about the region and the currency issues
i thought it would be an old rate because the still have the French Franc and the German Mark
listed on their sit. I also could not find euro on that site. the only thing that came close to euro was the ECU and the price was bit off the closing price of Friday.

But it is being updated. Here is the lastest rate


Saturday, June 3, 2006

1 US Dollar = 9,489.14 Iranian Rial
1 Iranian Rial (IRR) = 0.0001054 US Dollar (USD)

Median price = 8,712.62 / 9,489.14 (bid/ask)
Minimum price = 8,691.50 / 9,465.10
Maximum price = 8,767.60 / 9,548.00



FXConverter™: Classic 164 Currency Converter © 1997-2005 by OANDA.com.

Third paragraph :0)

Delays in establishing this government left Iraq "in limbo" for a few months, Rodman acknowledged. This void may have been a factor in the violence that escalated following the Golden Mosque bombing in Samarra, and caused temporary economic setbacks by delaying economic reforms, he said.

But with the government process now on track, the Iraqis are working together to overcome the obstacles it faces, Rodman said.

Economically, Iraq is still experiencing ups and downs but shows a general trend toward macroeconomic stability, Rodman said. Its currency remains stable; debt is decreasing; and foreign exchange reserves are well above targets, according to the stability report.

In addition, international support continues to help rebuild the economy.
But Rodman noted "disappointments" in the electricity and energy fields. The availability of electricity remains largely unchanged from the past progress report. Oil production and exports are still below targets, but high oil prices have helped offset revenue losses, the report notes.

http://www.dcmilitary.com/army/penta...s/41778-1.html

USAID Fact Sheet: Improving grain production in Iraq Jun 2006



The Agriculture Reconstruction and Development Program for Iraq (ARDI)
Agriculture is Iraq’s second largest value sector, the country’s largest employer, and an effective engine for promoting stability through private sector development, poverty reduction, and food security. The revival of a dynamic, market-driven agricultural sector will strengthen private business, increase income and employment opportunities, and meet the food requirements of the Iraqi people.
Despite Iraq’s strong agricultural heritage, after decades of neglect the country can no longer provide enough wheat – a fundamental staple crop – to satisfy the domestic market. Iraqis currently consume nearly 4 million tons of wheat annually, yet only produce 500,000 tons of milling-quality wheat. More than 85 percent of wheat consumed in Iraq is imported, making it the most costly component of Iraq’s $3 billion Public Distribution System food basket. Although Iraq has the capacity to produce over 2 tons of wheat per hectare the current average is a paltry 800 kilograms per hectare.
NATIONAL WHEAT PROGRAM & PRIVATE SECTOR GROWTH
USAID and the Iraqi Ministry of Agriculture (MOA) are taking essential steps to increase the domestic production and quality of wheat. Quick-impact programs have delivered thousands of tons of certified wheat seed to Iraqi farmers, stimulating increased production; market reforms have benefited Iraqi farmers and encouraged private sector investment. New varieties of wheat are being introduced, higher caliber seed is being planted, and new cultivation methods are being demonstrated. Already, efforts on select Iraqi farms have doubled wheat production, from 0.8 metric tons per hectare (MT/ha) to between 1.5 and 2.0 MT/ha.
In addition to grain improvement efforts, USAID’s National Wheat Program is developing a system of pesticide management, training farmers in the use of fertilizer, and restoring dilapidated tractors. Future projects will further enhance production meth ods and increase the number of farmers participating in these programs, efforts that will help build capacity and contribute to sustainable growth.
QUICK-IMPACT EFFORTS
ARDI imported and delivered 4,000 metric tons of high quality, certified Cham-6 wheat seed to MOA, jumpstarting grain production during Iraq’s 2004-05 growing season. This wheat seed was then distributed directly to farmers; a second, smaller amount of seed was used to establish the 44 USAID-sponsored wheat demonstration sites in four gover-norates and to plant 200 hectares for a trial USAID seed multiplication program in northern Iraq. This new seed provided the national seed stock with increased variety and higher quality of wheat. Farmers using the newer seeds will be able to increase wheat yields over the next few harvests.
The higher grade seed also produces a higher quality produce for bread, thus allowing a higher selling price. Cham-6 is a low-protein wheat ideal for bread making. The wheat seed, often used in USAID’s programs, has proven successful in Iraq.
Developing Market Incentives
Building on the successful distribution of 4,000 metric tons of wheat seed, the MOA has also taken steps to reform wheat sector pricing and encourage investment. In late 2004, drawing on USAID support, the Ministries of Agriculture and Trade agreed to set the price of Grade 1 wheat at $200/ton for the 2005 crop cycle, a 10 percent increase over 2003-04 and double the price of two years ago. As of June 2006, the price of Grade 1 wheat has reached $300/ton. After many years of poor prices, these price increases should provide sufficient incentive for farmers to invest in expanded production and new technologies.
Full report (pdf* format - 185 KB)
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