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

Announcement No.(810)

D.G. of Foreign Exchange Control

The 810 daily currency auction was held in the Central Bank of Iraq day Tuesday 2006 / 11/ 21 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1446 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 50.115.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 50.115.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(15.345.000) at a rate of(1446+1+10=1457)IQD\USD .
The amount sold to make transfers abroad was USD (34.770.000) at a rate of (1446-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.


D.G. of Investments

Daily price Bulletin buying and selling Tuesday 2006/11/21

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1449.000
1448.276

European Euro
EUR
1856.169
1855.241

Iraq opens talks with EU on trade deal
Brussels, 21 November 2006 (Financial Times)

Barham Salih, Iraq's deputy prime minister, yesterday opened negotiations over a bilateral trade agreement with the European Union, admitting that much of the government's $41bn budget for next year would be swallowed up by moves to secure the conflict-ridden country.

Making a pitch for foreign direct investment to boost reconstruction, Mr Salih warned that observers "should not underestimate the difficulties of this transition" from dictatorship to democracy. But he insisted that "many provinces of Iraq are relatively safe and secure and are able to receive investment".

Peter Mandelson, EU trade commissioner, and Benita Ferrero-Waldner, who holds the external relations brief, met Mr Salih in Brussels to start talks on a Trade and Co-operation Agreement between Iraq's fledgling government and the world's largest trading bloc.

Key to the progress of negotiations would be technical assistance from the EU in crafting a regulatory framework conducive to investment, Mr Mandelson said. He argued that Iraq's recovery would depend part-ly on its ability to diversify its economy away from oil.

The EU would back Iraqi accession to the World Trade Organisation, although officials admitted that setting a timetable for completing the trade agreement - let alone Iraqi accession to the 149-member global trading club -was at present impossible.

On Thursday, protracted talks will restart between Iraqi ministries and the country's political constituencies on the nature of a hydrocarbon law, the basis for any future contracts in the sector, Mr Salih said.

The law is expected by early next year.

Iraq opens talks with EU on trade deal | Iraq Updates



The law is expected by early next year. This must be real early, because they have an agreement with the IMF on this.

They have until 31/12/2006, so early next year is 1/1/2007

Originally Posted by CharmedPiper

Announcement No.(810)

D.G. of Foreign Exchange Control

The 810 daily currency auction was held in the Central Bank of Iraq day Tuesday 2006 / 11/ 21 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1446 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 50.115.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 50.115.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(15.345.000) at a rate of(1446+1+10=1457)IQD\USD .
The amount sold to make transfers abroad was USD (34.770.000) at a rate of (1446-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.


D.G. of Investments

Daily price Bulletin buying and selling Tuesday 2006/11/21

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1449.000
1448.276

European Euro
EUR
1856.169
1855.241

I do have to say one thing, Things are getting very fishy lately around the iraqi govt...... Very fishy indeed.

Iraqi president to hold talks with Iranian leader
Iraq/Tehran/Brussels, 21 November 2006 (Financial Times)

Jalal Talabani, Iraqi president, will travel to Iran this weekend for talks with his Iranian counterpart Mahmoud Ahmadi-Nejad, but his spokesman denied reports that a three-way summit including Syria's Bashar al-Assad was planned.

British government sources and news agencies had said yesterday that Iran was keen to host three-way talks, but Iraqi sources said there were no plans for such a meeting.

"President Jalal Talabani has plans to go to Tehran this weekend to meet with President Ahmadi-Nejad. There is no talk of a trilateral summit," said presidential spokesman Hiwa Osman.

"President Talabani looks forward to meeting President al-Assad in Baghdad or Damascus in the near future," he said. US officials are reportedly planning an initiative to bring Syria and Iran into a broader regional effort aimed at curbing the violence in Iraq.

US and Iraqi officials have blamed Damascus and Tehran for fomenting disorder in Iraq. Iran has extensive influence with Shia parties in Iraq, reportedly subsidising groups such as the Supreme Council for Islamic Revolution in Iraq as well as breakaway factions of the Mahdi Army loyal to radical cleric Moqtada al-Sadr.

Tehran is also accused of supplying some of its clients with sophisticated weaponry and military expertise.

According to some analysts, Iran is trying to ensure that it has the capacity to cause severe problems for US forces in Iraq as a possible deterrent to US-led military efforts against its own territory.

International and domestic pressure is mounting on the Bush administration to open its own dialogue with Syria and Iran to find a common approach to restoring stability in Iraq.

Tom Casey, a spokesman for the US State Department, said there were no plans at present for direct contacts in Baghdad between the US and Iranian ambassadors.

Washington analysts say that while the US position in Iraq is weakening, Iran is asserting its influence. A trilateral summit, should it happen, could strengthen Iran's hand in shaping the agenda for eventual talks with the Bush administration.

Iraqi leaders frequently visit Tehran, but most of these are heads of specifically Shia parties with a tight bilateral relationship to Iran, and a wider summit specifically intended to discuss the promotion of stability in Iraq would be a diplomatic breakthrough.

Iraqi president to hold talks with Iranian leader | Iraq Updates

Published: 21/11/2006 12:00 AM (UAE)
Democrat to introduce Bill to reinstate military draft
AP
Washington: Americans would have to sign up for a new military draft after turning 18 under a Bill the incoming chairman of the House Ways and Means Committee says he will introduce next year.Representative Charles Rangel, a New York Democrat, said on Sunday he sees his idea as a way to deter politicians from launching wars."There's no question in my mind that this president and this administration would never have invaded Iraq, especially on the flimsy evidence that was presented to the Congress, if indeed we had a draft and members of Congress and the administration thought that their kids from their communities would be placed in harm's way," Rangel said.Rangel, a veteran of the Korean War who has unsuccessfully sponsored legislation on conscription in the past, has said the all-volunteer military disproportionately puts the burden of war on minorities and lower-income families.Rangel said he will propose a measure early next year. While he said he is serious about the proposal, there is little evident support among the public or lawmakers for it.In 2003, Rangel proposed a measure covering people age 18 to 26. It was defeated 402-2 the following year. This year, he offered a plan to mandate military service for men and women between age 18 and 42; it went nowhere in the Republican-led Congress.At a time when some lawmakers are urging the military to send more troops to Iraq, "I don't see how anyone can support the war and not support the draft," said Rangel, who also proposed a draft in January 2003, before the US invasion of Iraq.

Gulfnews: Democrat to introduce Bill to reinstate military draft

Here is a speculative theory -- It has been stated before that they would like be valued near or around it's neighboring country Jordan. Now we have seen a drop of about 3 dinar per auction over the last day or 2. Jordan's rate has been about 1.40 to 1.44. There are 2 auctions left this week. Could they drop 3 more each of the last 2 auctions this week to bring it to 1440. then move the decimal and reval at 1.44 to stay in line with Jordan. Just a thought. I don't think they will go all the way to December 12th....they would be pulling too much dinar out of circulation. JMHO.

Hi,

Can someone tell me what the the logic is when they say that they are going to isssue every Iraqi with $10,000 dinar and also pass the Foreign investment law and then do nothing about implementing them. Are they waiting for specific events to happen, I would be grateful for everybodys thoughts.

Iraqi Presidency

President accepts invitation to visit Syria and emphasizes the importance of cooperation between the two countries November 21, 2006 President Jalal Talabani, at his office in Baghdad on the evening of yesterday, Monday, 11-20-2006 Syrian Foreign Minister Walid Al-Muallim, and the delegation accompanying him. President Jalal Talabani and Iraq's desire to strengthen ties between the two countries in all fields, security, including political, economic and cultural rights. And it herewith the Syrian delegation's visit to the pages of past and launched a new page in relations for the benefit and interest of the two fraternal peoples. And the President of the Republic emphasized that the stability of Iraq is one of the pillars and the keys to stability in the entire region. pointing to the importance of the cooperation of all the sister and neighbor to the establishment and consolidation of stability. For his part, the transfer of the teacher greetings of President Bashar al-Assad, , stressed that Syria is determined and in good faith to ensure the success of bilateral cooperation with Iraq. And the teacher added that the Syrian people feel the pain and suffering of the Iraqis and feel that the parties must be in one trench against terrorism, which he described as a crazy blind terrorism. The Syrian minister and renewed invitation of President Bashar al-Assad to President Talabani to visit Syria. excellencies, accepted the invitation with gratitude. , Who attended the meeting on behalf of Iraqi Foreign Minister Hoshyar Zebari and Interior Minister Jawad, who is the Finance Minister Baqer Jabr Al-Zubaydi, the Minister of Planning to Papan and a number of other officials. President of the Republic and established a dinner banquet in honor of the visiting delegation attended by a large number of ministers and Iraqi officials.

Attributed

Originally Posted by kiko

[Correspondent] Gumbert cited the issue, saying it was a waste of an available opportunity to dissolve all the militias at the time?

[Al-Hakim] I believe that what is correct is that there was a delay in implementing this law. It was possible to benefit a lot from the persons who have good capabilities in the security and military fields and have a great desire to build the state institutions. The opportunity is not there because these laws have not been implemented yet.

Even when it comes to dissolving militias they can't implement a law! Pass a law, delay and don't implement. What the heck kind of system is this?

Originally Posted by abbey56

Hi,

Can someone tell me what the the logic is when they say that they are going to isssue every Iraqi with $10,000 dinar and also pass the Foreign investment law and then do nothing about implementing them. Are they waiting for specific events to happen, I would be grateful for everybodys thoughts.

This seems to be how their system works or rather doesn't work. It makes no sense to me.

Originally Posted by Dinar Cha Ching

Even when it comes to dissolving militias they can't implement a law! Pass a law, delay and don't implement. What the heck kind of system is this?



This seems to be how their system works or rather doesn't work. It makes no sense to me.

I hoped also that the FIL would be enacted yet and I also hoped on the EU negiotions but Nada yet.

In my opinion we now have to wait on the whole package. ICI, HCL and IAMB around 10-15 december.

Gives them time to pull out more from circulation and they can enact the whole package at once.