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

Originally Posted by $onedaysoon$

All 10 thousand dollars lost 300 thousand Iraqi dinars
The dollar fell against the Iraqi dinar against the dollar by
Baghdad Mazen's : dealers found so-called «» Stock themselves facing long-awaited fact, a drop in the prices of the dollar before the Iraqi dinar exchange rate, which maintains 1480 IQD about dollars each year.
The dollarization phenomenon. one of the problems that marred business dealings in the market since the imposition of international sanctions on Iraq. he went on traders and businessmen Isomon their commercial dealings fixed price of the dollar, as the Iraqi dinar, undesirable consequences in trade dealings.
The presentation of the Central Bank through the auction, organized by the daily buying and selling of foreign currency sums of dollars, where they were able to achieve a gradual reduction of the dollar exchange rate started from 1470 dinars to the dollar to reach the price in transactions related meeting last Wednesday to 1444 dinars.
The dollar stock deal in two branches, first Street in the fight near the wholesale market in Alcheorgh, and the other in the Harithiyah area in the Karkh. Lower contrast to read the Iraqi market in what is known as the black academic transactions.
Sources at the Central Bank told the nation »« that this policy will continue until the Iraqi dinar thrive and become the preferred currency in daily dealings. With those sources expressed its confidence in achieving this policy even finishing off phenomenon (dollarization). The increased pumping of the Iraqi Central Bank of dollars to revive the whisper among dealers in the bourse informal, the possibility of the emergence of steps by the government increase the refractive line graph for the rate of exchange price to increase the rate of the dinar against the dollar, which has become the merchants do not approve of the bourse since yesterday, Thursday, to sell more than 1430 Iraqi dinars to the dollar and sold at 1450 dinars. The language of the people of the market there is a decrease of three realistic figures. that can be increased according to Karim Ani, one assert supermarket banking.
He adds «decline is not large, But due to market fluctuations, political conditions dealers warn that makes the market to buy large quantities of foreign currency against the desire to sell to them, to ensure that the large sums of their defeat Iraqi currency ».
In terms of numbers of such a bourse, the book «» or «» Alblukh is ten thousand dollars. lost in this disembark simple, nearly 300 thousand Iraqi dinars, every book has lost the value of the Iraqi currency 210 dollars. In measuring these figures with huge sums. The real loss, the direct reason behind the lack of desire to buy the dollar against the intensification of the sale.
The financial sources informed that the government agencies, companies and several parties overestimated the adoption of the dollar as a currency dealings content in the market, This has played an influential role in the exacerbation of the situation inflationary, this policy comes in the wake of several warnings by the Central Bank, while the monthly reports pointed to the escalation of the situation to the inflationary rate of 76.6% during the month of August last year compared with August 2005. it depends on the impact of an interest rate increase granted by the pointing of 6 to 12%. prior to submit next month to raise the interest rate has increased to 16%, four points in conjunction with the amendments to the nightly interest rates and interest rates on the international credit.
The Central Bank of Iraq, in his statement, The adoption of a tight monetary policy, particularly in the area of interest rates will push commercial banks to make fundamental adjustments in the interest rates of bank had different including interest on savings deposits.
The statement stressed that «other adjustments to interest rates, the Central Bank of Iraq may depend in the future unless inflation shows a decrease in indicators».

Publication date : Friday, 24 / 11 / 2006

Translated version of http://www.alwatan.com.kw/Default.aspx?MgDid=444020&pageId=39

I think that THIS is the article of the day that we should be discussing instead of the opinion piece, and a better translation of it would also help. Note what is highlited, the dinar will not be the currency of choice until it is worth more than the dollar, hence they are telling us again that they (CBI) intend to reval. SGS,Adster ,Kiko, Ward ETC. or anyone with a take on this? Also anyone who can get a better translation for after the hilited part. Thanks

Originally Posted by Mike5200

I think that THIS is the article of the day that we should be discussing instead of the opinion piece, and a better translation of it would also help. Note what is highlited, the dinar will not be the currency of choice until it is worth more than the dollar, hence they are telling us again that they (CBI) intend to reval. SGS,Adster ,Kiko, Ward ETC. or anyone with a take on this? Also anyone who can get a better translation for after the hilited part. Thanks

Agreed. And there should be more in relation to it out there.

wasnt sure where to put this

check out the link and see just how iraq is growing

Translated version of http://www.iraqinet.net/



below: The independent national newspaper to promote love and tolerance contribute to the spread of democracy and support federal united Iraq

ÇáÕÝÍÉ ÇáÑÆíÓíÉ Iraq of Tomorrow - ÚÑÇÞ ÇáÛÏ

Originally Posted by Mike5200

I think that THIS is the article of the day that we should be discussing instead of the opinion piece, and a better translation of it would also help. Note what is highlited, the dinar will not be the currency of choice until it is worth more than the dollar, hence they are telling us again that they (CBI) intend to reval. SGS,Adster ,Kiko, Ward ETC. or anyone with a take on this? Also anyone who can get a better translation for after the hilited part. Thanks

Other is an opinion article.

Sometimes they tell much in other words.

Telling that it goes on until the IQD is the preferred currency is saying a lot indeed.

The iraqi dinar can only be a preferred currency unless it has a good value in the market.

That is where the RV comes in.

The last days there is a lot of news and articles coming out regarding the iraqi dinar. We must be close.

Why bringing out all this news and articles if you want to wait for 2 months.

No way, this thing can hit us everyday now.

Oh Boy, I want to be hit by this one, very hard and high!

Originally Posted by day dreamer

Ok here's my husband's explanation of the 1000/1
1000 dinar = to $1 is what their saying right
1000 dinar is the same as .69 which equals to the $1
now divide .69 into the dollar , and your get 1.44 times so that would be $1.44 and the rate right now is 1441. Which is about 1/3 of an old rate

Uh? some one please correct me as my understanding of arithmatic leaves much to be desired. I don't understand how 1000 dinar is the same as .69 equal to the $1.

With my trusty little calculator, if I divide $1 US by 1000 NID's that equals 0.001 USD per 1 NID. In other words 100 NID's for a penny.

Now it's true that if you divide $1 by .69 it will give you 1.4492753 or almost a 1.45 to 1 exchange rate but where does the .69 come from to start with. What am I missing?

Originally Posted by rodney ewalt

Uh? some one please correct me as my understanding of arithmatic leaves much to be desired. I don't understand how 1000 dinar is the same as .69 equal to the $1.

With my trusty little calculator, if I divide $1 US by 1000 NID's that equals 0.001 USD per 1 NID. In other words 100 NID's for a penny.

Now it's true that if you divide $1 by .69 it will give you 1.4492753 or almost a 1.45 to 1 exchange rate but where does the .69 come from to start with. What am I missing?

1000 dinars divided by the current rate (1441) equals $.69

1441 dinars= 1 dollar
1000 dinars = .69 dollar

Hope that helps.

Originally Posted by Jola

Okay, I have asked for opinions about that article stating that the exchange rate will be 1000dinar/$1.

After all these posts, IT IS CLEAR:
- The author of the article is not an expert
- If I have to choose between what this article says ( 1000:1) and what "an official from CBI" says - that " the dinar will/should be the currency of choice" - meaning that the dinar will be equal if not higher than the dollar, then I will have to go with the second one.

Why?
The second one comes from CBI - and this is the most important thing

I like it more - who does not?

Makes more sense as a solution to the problems in Iraq - while the first one does not

Obviously we should put that article to rest. I got scared for a moment there, but hey, thanks to you guys, I am good now! :)

Another reason not to place too much faith in that article is that al-Fakiki kept stating what the GoI plans to do with the IQD, when we know it is the CBI that makes the final decision regarding the dinar.

Originally Posted by Hardwood

1000 dinars divided by the current rate (1441) equals $.69

1441 dinars= 1 dollar
1000 dinars = .69 dollar

Hope that helps.

Yep, I think someone did the zeros loop.

Originally Posted by ozizoz

Do you guys/gals ever get the feeling that WE are the ones inside the fishbowl? That everything has been planned out to the smallest detail including the date and amount of the reval and every detail inbetween? That they have known all along and the PTB have been sitting back getting a good laugh at us, watching us go up and down hanging on every word they trickle out?

Sometimes when I read these articles, I feel like they are thumping on the glass just to mess with our emotions. I am about ready to jump outta the tank and bite the friggin finger off!!!

Yes, i would bet you all my Dinar that they have a plan from long ago and that whatever we see in the news is part of the plan. They don't make these decisions on a week to week basis right? They would have 5, 10, 20 and maybe even 40 year "plans".

Oldie but a goodie.

Right after the FIL was passed ???? بموجب اتفاقية مع مؤسسة التمويل الدولية (IFC)Under an agreement with the International Finance Corporation (IFC)

كابيتال بنك ينضم رسميا لبرنامج تمويل التجارة الدوليةCapital Bank to formally join the international trade finance

قمحية: الاتفاقية ستعزز علاقات البنك التشاركية مع 500 بنك اخرQmahih : the Convention will strengthen relations partnership with the World Bank, another 500

Capital Bank show a willingness to facilitate credits for purchasing Iraqi oil


Arabs today - on Alroashdh
The International Finance Corporation (IFC), "the private sector arm of the World Bank Group," yesterday's joining the Capital Bank-Export Bank and finance-formerly the World Trade Financing Program, to be the first bank in Jordan to join this program.
The program supports the financing of WTO trade exchange between emerging markets at the global level and enhance the flow of goods and services between developing countries. The International Finance Corporation (IFC) under this program, total or partial guarantees to support trade and financial cover risks arising therefrom, between the banks participating in the program, The program also permits the banks to increase the volume and value of their business operations and enable them to obtain competitive conditions appropriate.
And through trade finance officer in the International Finance Corporation (IFC), Mark Rosanski HE institution for the accession of Capital Bank for the financing of the WTO and the aspiration of the institution to increase its activity in the area covering the risks of trade finance in Jordan. which will help Capital Bank to expand its activities in this area and enhance its ability to provide the best services to its clients companies and flick strongly on the list of 500 international bank all over the world and strengthen its partnerships with the countries of the world and global integration. "
The director of the regional institution in the Middle East and North Africa, Michael Essex : "The World Trade Financing Program aimed to boost the export capacity of companies and compatible with the objectives of this institution in Jordan, as it paves the way for greater participation of the Kingdom of Saudi Arabia in the WTO."
The representative of the International Finance Corporation Goldes programs institution in the field of international trade finance and promote covered by the developing countries and most countries of the world in light of the continuing quest to promote international trade, explaining that the International Finance Corporation played a pivotal role in trade and export to Lebanon during the war will Alatva Goldes received by the bank and its leadership in the region.
It is worth noting that the International Finance Corporation has established a representative office in the Kingdom in 2005 in order to expand its activities and increase investment in the Kingdom.
He said the Director-General of the Capital Bank Haitham Qmahih "happy in the Capital Bank to consolidate our relations with the International Finance Corporation through the financing world trade. Capital Bank will be the expansion of the network of relations with the other banks. It will create valuable business opportunities to its clients in Jordan and the region. "
A Qmahih the bank's readiness to finance foreign trade operations with the brotherly Iraqi people, especially with regard to the implementation of the provisions of the Memorandum of Understanding between the two oil and the import of oil from Iraq since the bank owns more than 60% of the capital of National Bank of Iraq.
Qmahih He added that the bank is currently opening credits to facilitate the import and export of Iraq and through the Central Bank of Iraq and will be the first transaction through the agreement signed with the International Finance Corporation in a few days as they will be exported to Iraq from the Jordanian source apportionment of Capital Bank.
Qmahih said that the bank, which was founded 10 years ago to finance trade and the export market Jordanian and Arab enhanced banking services through an integrated package of services accompanied by the modernization level of investment destinations him explaining that the advantage of the Convention will facilitate the work of bank deposits to facilitate the work of foreign trade.
He explained that the Convention Qmahih demonstrate to enhance the confidence of international institutions, the Jordanian banking sector and competitive edge, adding that the sum total ceiling of $ 15 million covering 70 countries in the world and transactions soft and low interest rates as measures passed Capital Bank Corporation successfully and the value of the goods financed public pain Lage in the foreign trade of more than 500 million dinars.
For his part, Director of Studies at the Ministry of Planning and International Cooperation Jamal honey that the ministry had left for the Foundation and the World Bank to negotiate, leading to the signing of the Convention and supported by the ministry of this Convention, which add to the credibility of the local banking system and increase the ceiling allowed by the trade.

2006-10-172006-10-17
Translated version of http://www.alarabalyawm.net/?type=snews&&isdate=2006-10-17&&newsid=3996&&sectid=