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

Originally Posted by shotgunsusie

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ITS NEVER BEEN 1460 BEFORE!!! what im thinkin is maybe just like BOB said they are going to change it to .31ID FROM 1460. now that its finally there...

Sus, your on to something...I remember back at the "other" fourm this was discussed endlessly. However NOW combined with the articles yesterday and today...

Now I am intrested in what happens later today or tommorrow (if...there is an auction )

Originally Posted by kiko

I agree. Although I don't think in this case they are idots. I go for number 2.

They must do this today or ASAP to prevent further speculation. That will cost them a lot of money.

Could it possibable r/v and show up on NY forex when it opens at a new rate
even though cbi shows 1460???

Originally Posted by Jola

So now...mr. Bill Gates knows from these recent press releases that the dinar exchange rate will go up soon, so he will buy at least half of iraqi dinars in circulation - if not all - today

....this doesn't make sense....do we believe that CBI guys are stupid? I would say they are not! I think they did a great job so far in these given conditions in Iraq! ...and so, I think they will not allow mr. Gates to buy up Iraq....

I really believe that we'll have more news today from CBI regarding the exchange rate. After statements like the ones in these articles, how can you keep the exchange rate unchanged?

I remember when the CBI auctions stats came up yesterday - I said: well, just another day! Then BOOM , the press releases about the dinar exchange rate!!

Even if the auctions at CBI brought the dinar rate only to 1460, I still expect news from them today.

I am not a banker or anything, but common sense dictates that the rate should raise immediately. Otherwise, why would they do the Press release?? Just for fun?

And I don't think the cabinet reshuffle has anything to do with the CBI changes. CBI is the only institution that has the power to make these changes - as far as I understood from you guys , on this forum.
Mr. Knowls posted a few pages earlier that the Fed never cares about about what's happening in politics, did not he?

Am I wrong? If I am , please tell me why, so I can go back to sleep!! :(

I agree with you I have always thought if they do RV it would have to be high to stop people like Mr Gates, Buffett, Soros etc We all know Iraq will be one of THE wealthiest nations on earth as their markets open up to the world and even at a rate of 1:1 big time investors will see the opportunity JMO

Originally Posted by day dreamer

Could it possibable r/v and show up on NY forex when it opens even cbi shows 1460???

IMO , starting on the open market at 1460 would leave the dinar uncovered. With what's going on in Iraq right now - and knowing that only the bad news come out - I think the exchange rate could go down.Probably they have to RV first ( before going on Forex) to give room for fluctuation on the market and not hit the ground. Again, JMO.

As I am typing, I hope someone with more background in Forex exchange will discuss this option.

Who's doing currency trading here? Could give us some more information on how the dinar value could be affected if it goes on Forex at 1460 ?

Is that a viable option?

Originally Posted by Jola

IMO , starting on the open market at 1460 would leave the dinar uncovered. With what's going on in Iraq right now - and knowing that only the bad news come out - I think the exchange rate could go down.Probably they have to RV first ( before going on Forex) to give room for fluctuation on the market and not hit the ground. Again, JMO.

As I am typing, I hope someone with more background in Forex exchange will discuss this option.

Who's doing currency trading here? Could give us some more information on how the dinar value could be affected if it goes on Forex at 1460 ?

Is that a viable option?

No I'm not talking about starting on forex at 1460
I mean have a r/v before forex opens at whatever the r/v starts at, that price showing up on the forex

Originally Posted by day dreamer

No I'm not talking about starting on forex at 1460
I mean have a r/v before forex opens at whatever the r/v starts at, that price showing up on the forex

I think the CBI can RV it any time they want. Maybe they needed this auction and will they RV this afternoon.

In my opion there must be a RV first before going on the FOREX but I am no expert in this.

Originally Posted by shotgunsusie

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ITS NEVER BEEN 1460 BEFORE!!! what im thinkin is maybe just like BOB said they are going to change it to .31ID FROM 1460. now that its finally there...

The lowest rate was 1350 at January 15-2004.

Sorry SGS but I found it on the CBI site. Here are the link.(History Exhange Rates)

http://www.cbiraq.org/C.B.I.%20FOREI...20AUCTIONS.pdf

The price of kerosene
(Voice of Iraq) - 11-14-2006
This issue was sent to a friend

- And special. A. Iraqi - Mosul (the price of kerosene "Alcazwail" in the Directorate of the northern oil products)


Al Iraqi news agency from a reliable source that the Directorate of the northern oil products announced this morning Wednesday, 14 / 11 / 2006 on the increase in the price of kerosene "Alcazwail" by 100% as the price of 150 dinars per liter and the new price of 300 dinars. The source added : He found the news of this increase resentment of most distributors and owners of the relationship. because this increase would lead to a similar rise in the price of AMP at the owners and generators of course, will affect the increase in the price burden on the citizen.

The CBI has not given an indication of time scale, and the statement clearly said "raise" not "revalue". Of course they could mean the same thing, but equally they may not. As we have seen recently, they have been "raising" the Dinar value as a consequence of the auction activities, and may just continue along this path for a while.

Also, could someone please explain the relationship between 1460 & .31IQD, and the excitement surrounding it?

Regards to all
Neil

Originally Posted by njd2004

The CBI has not given an indication of time scale, and the statement clearly said "raise" not "revalue". Of course they could mean the same thing, but equally they may not. As we have seen recently, they have been "raising" the Dinar value as a consequence of the auction activities, and may just continue along this path for a while.

Also, could someone please explain the relationship between 1460 & .31IQD, and the excitement surrounding it?

Regards to all
Neil

here it is:

Originally Posted by Inscrutable View Post
This paragraph always excites me, ya know, the fake rate of 0.310 ID

I would to inform all the stockholders of Baghdad Bank that the report of the managing council 2004 was prepared according to the demands of Central Bank of Iraq to balance US dollar price to 0.310 ID instead of its real value (1460) ID per 1 US dollar, so, the report and general budget do not necessarily reflect the actual situation of Baghdad Bank and the volume of economical incoming indexes, so, this report was issued in order to meet the demands of the rules and instructions.

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That's 1/3 dinar to a dollar or over a $3 USD rate.


Post # 481
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...amd from there on...

oops, neno is moving stuff...messed up the page count