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

Originally Posted by H2O_Lover

The other thing is the CBI has stated they are concerned about dollarization in iraq and have said so in the same breath they have mentioned increasing the value of the dinar.

This has been nagging at me, they are concerned about dollarization but are selling record levels of USD to banks in exchange for dinar. If anything this will increase dollarization in Iraq unless the dinar is valued at 1:1 or higher. Please let me know if I'm seeing this incorrectly

Originally Posted by Inscrutable

Forget that, who wants 1.50 we better wait a bit longer so they can get that price up.

who wants a 1.50 ??? My guess is anyone who is holding what i am and one with any brains at all. It is one thing to invest thousands of dollars its another to risk millions. like i said stupid money at that point for me and i would get out. I dont wear greed well as i bought thinking .05 is what i need !

Originally Posted by lndmn_01

This has been nagging at me, they are concerned about dollarization but are selling record levels of USD to banks in exchange for dinar. If anything this will increase dollarization in Iraq unless the dinar is valued at 1:1 or higher. Please let me know if I'm seeing this incorrectly

You are 100% correct, introducing dollars at the rate of this past weeks auction is dollarization in my opinion. And the part of that press statement that confuses me is to make it a cash based economy.

Originally Posted by lndmn_01

This has been nagging at me, they are concerned about dollarization but are selling record levels of USD to banks in exchange for dinar. If anything this will increase dollarization in Iraq unless the dinar is valued at 1:1 or higher. Please let me know if I'm seeing this incorrectly

Correct, at least 1 to 1 if not higher.

Originally Posted by lndmn_01

This has been nagging at me, they are concerned about dollarization but are selling record levels of USD to banks in exchange for dinar. If anything this will increase dollarization in Iraq unless the dinar is valued at 1:1 or higher. Please let me know if I'm seeing this incorrectly

Bothers me a bit too ........maybe they are funding big projects and maybe they are funding local people. Banks make money on buying and selling what ever currency they handle. I think the banks maybe a bit angry if today they hold a vault full of dollars and in the morning the are worth 1/2 there value in dinars !! Like i said this is a part of this investment that i really do not understand. BTW the CBI's job is to make money too and they make their money as i understand it from the banks they sell to and in bonds. I am confussed at best with this

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.

I doubt if there will be any serious speculation on the dinar regardless of the CBI actions at this point due to the totally out of control sectarian violence that shows no sign of diminishing. The Iraqi parliament can legislate until the cows come home but no savvy bigtime investor (Trump, Gates, Institutions etc...) is going to put his money on the dinar until some modicum of peace is established between the Sunni and the Shiite. Of course we small time investors will speculate!!

Originally Posted by Inscrutable

You are 100% correct, introducing dollars at the rate of this past weeks auction is dollarization in my opinion. And the part of that press statement that confuses me is to make it a cash based economy.

What do you mean dollarization? is this something we should have concerns about? Could there be any other reason why they would be buying back dinars other than an RV.

Hi all,

I have a question regarding this :

Bahrain Bhd/usd 2.656 (100 USD = 37.60 BHD)
Kuwait kwd/usd 3.475 (100 USD = 28.914 KWD)
Oman omr/usd 2.605 (100 USD = 38.00 OMR)
Qatar qar/usd .27 (100 USD = 364 QAR)
S. Arabia sar/usd .27 (100 USD = 375 SAR)
UAE aed/usd .27 (100 USD = 367.25 AED)

Are all the currencies of these countries internationally traded ?

Thank you !

Originally Posted by cigarman

I need your help on something. I'm trying to find out for sure but I remember reading that Iraq had 9 trillion dinar printed with 4.5 trillion in circulation ( I think), so far this week they have taken 1 trillion off the streets, so how much is needed to be taken off in order to reval high? Mr. Knowles, you comments are welcome.

I know i can't give you the amount answer but i can give some other numbers to compare.

Earlier i posted the exchange rates of the GCC neighboring countries.
Bahrain Bhd/usd 2.656
Kuwait kwd/usd 3.475
Oman omr/usd 2.605
Qatar qar/usd .27
S. Arabia sar/usd .27
UAE aed/usd .27
Iraq iqd/usd .0006815

here's some more.
Currency and gold reserves:
Bahrain $2.432 billion (2005 est.)
Kuwait $8.972 billion (2005 est.)
Oman $4.358 billion (2005 est.)
Qatar $4.552 billion (2005 est.)
S. Arabia $26.76 billion (2005 est.)
UAE $23.53 billion (2005 est.)
Iraq $9.161 billion (2005 est.)

And their proven oil reserves:
Bahrain 124 million bbl (2005 est.)
Kuwait 96.5 billion bbl (2005 est.)
Oman 6.1 billion bbl (2005 est.)
Qatar 16 billion bbl (2005 est.)
S. Arabia 262.7 billion bbl (2005 est.)
UAE 97.8 billion bbl (2005 est.)
Iraq 112.5 billion bbl (2005 est.)

FYI, these estimates are from the CIA fact book.

I'm still trying to find M0, M1, M2 (money supply) data but maybe someone knows better where to find this??..??

Originally Posted by webinvestor

I know i can't give you the amount answer but i can give some other numbers to compare.

Earlier i posted the exchange rates of the GCC neighboring countries.
Bahrain Bhd/usd 2.656
Kuwait kwd/usd 3.475
Oman omr/usd 2.605
Qatar qar/usd .27
S. Arabia sar/usd .27
UAE aed/usd .27
Iraq iqd/usd .0006815

here's some more.
Currency and gold reserves:
Bahrain $2.432 billion (2005 est.)
Kuwait $8.972 billion (2005 est.)
Oman $4.358 billion (2005 est.)
Qatar $4.552 billion (2005 est.)
S. Arabia $26.76 billion (2005 est.)
UAE $23.53 billion (2005 est.)
Iraq $9.161 billion (2005 est.)

And their proven oil reserves:
Bahrain 124 million bbl (2005 est.)
Kuwait 96.5 billion bbl (2005 est.)
Oman 6.1 billion bbl (2005 est.)
Qatar 16 billion bbl (2005 est.)
S. Arabia 262.7 billion bbl (2005 est.)
UAE 97.8 billion bbl (2005 est.)
Iraq 112.5 billion bbl (2005 est.)

FYI, these estimates are from the CIA fact book.

I'm still trying to find M0, M1, M2 (money supply) data but maybe someone knows better where to find this??..??

Wow! we are up there with Kuwait, and look at Kuwaits exchange rate. If only the violence would stop we would all be rich.....