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

Originally Posted by Elfwizard

I have been watching this like a hawk now for 3 years. I am not negative on this investment, when I bought I was thinking 5-7 years down the road Ill make some money. Its just some of the people here are NEW and the stuff that is happeneing at the auctions isn't really anything. The Rate has even went up and down like this before. The press releases saying the Dinar value needs to be raised are about 6 months old and counting {they have been hinting to this for about 6 months} SO anyone that is into this thing for a year or less, Just hang on, it wont happen overnight. I know from experience.

Please if you don't mind...explain your experiences?

Al

Originally Posted by neno

Well, 1USD = 1446 nid's

Uh, Duh. Sorry, that's what I thought it might be, but my calculator says that would be 723000000000 IQD's. Doesn't sound right.

That's 72 billion dinar.

2B

Originally Posted by Socata 850


Yes the transfer amounts are calculated. This figure is the net amount. Thank you.

Originally Posted by frathousemicrowave

Then the totals do no good because as in todays auction they bought $15,345,000 worth of dinar. The $34,770,000 has nothing to do with dinar. So using the total of $50,115,000 will do no good at all in telling us how much dinar is being taken in by the CBI.

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.


Sold is Sold !!! They are not giving their dollars away and the total is still relavent whether they sell it internally to one of their banks or to outside interests, they are still recapturing dinars. Go back to the original history of how the CBI was chartered and how it functions and you will see that they must deal in Dinars for dollars and visa versa. It's the only medium allowed up to this point.

Originally Posted by neno

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 $) ------ -----

Plus Apollo (Dan), Posted that there was no call and posted at Rolclub for us of what was on his mind. It will be in the 'History Thread".

50,115,000 X 1446 = 72466290000 Can't be right.

Originally Posted by DinarLady

Uh, Duh. Sorry, that's what I thought it might be, but my calculator says that would be 723000000000 IQD's. Doesn't sound right.

fifty million times 1446 = seventy-two billion three hundred million

Originally Posted by 2bmoore

That's 72 billion dinar.

2B

If my zeros are counted right, that's almost 725 Billion Dinar!

You had one zero too many.

2B

Originally Posted by Inscrutable

fifty million times 1446 = seventy-two billion three hundred million

300million would look like 300,000,000. You're missing a zero. It's 724 BILLION

OOPA! Sorry You're right! It's 72 BILLION 466 MILLION 290 THOUSAND

Originally Posted by DinarLady

50,115,000 X 1446 = 72466290000 Can't be right.

You are correct. It's 72 billion, 466 million, 290 thousand dinars.