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

Iran and Iraq sign two MOUs
30/11/2006

Tehran and Baghdad signed two memorandums of understanding on Wednesday as Iraqi President Jalal Talabani wrapped up a three-day visit to Iran.

Education ministers of Iran and Iraq inked the first agreement on cooperation between Iran’s Education Ministry and Iraq’s Higher Education Ministry.

The second agreement was on cooperation agreement between the industry ministries of Iran and Iraq which was inked by Iranian Energy Minister Parviz Fattah and Iraqi Industry Minister Fawzir al-Hariri.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2664

30 Nov 2006 14:09:00
Economy / work
No sales of the dollar on the Central Bank
Baghdad / Nina / had not sold the Iraqi Central Bank any amount of dollars today, Thursday, in an auction. This case is the first since the opening of the bank daily auction for the sale of foreign currency after سقو�
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Translated version of http://www.ninanews.com/

Originally Posted by shotgunsusie

Translated version of http://www.ninanews.com/

Nice find sus, file not found when you go in for the whole article. When did the bank auctions start? was under the impression it was when the artificial programme rate was started after the troops ousted Saddam.....Anyone? (Hope this won't be moved to the crazy thread).

Originally Posted by shotgunsusie

Translated version of http://www.ninanews.com/

Will be interesting what WM Knowles makes of this

Hello everyone. Today, no auction. Like we discussed earlier in the week, we have been looking for day-to-day confirmation that the CBI has changed from the removal of dinar from the economy to a position of little activity. Over the last week this is exactly what we have seen. No dinars to be bought, and the CBI has not sold dinar in any significant amount. Just like we predicted. The dinar is "drying up". They removed over 1 Trillion from the economy in a very short period of time. We stated that over the last week that what we did not see was going to be more important than what we did see. And this is what has happened. All of this is exactly what one would predict prior to an RV. Interesting times? You bet. And they might just get more interesting in the next few days. Good Luck

Originally Posted by Wm.Knowles

Hello everyone. Today, no auction. Like we discussed earlier in the week, we have been looking for day-to-day confirmation that the CBI has changed from the removal of dinar from the economy to a position of little activity. Over the last week this is exactly what we have seen. No dinars to be bought, and the CBI has not sold dinar in any significant amount. Just like we predicted. The dinar is "drying up". They removed over 1 Trillion from the economy in a very short period of time. We stated that over the last week that what we did not see was going to be more important than what we did see. And this is what has happened. All of this is exactly what one would predict prior to an RV. Interesting times? You bet. And they might just get more interesting in the next few days. Good Luck

From a quote from one of the news articles it stated that NO banks participated in the auction. It would appear that the CBI had an auction and no one came. Even more interesting than to have the CBI cancel an auction. Any thoughts on this?

Originally Posted by Wm.Knowles

Hello everyone. Today, no auction. Like we discussed earlier in the week, we have been looking for day-to-day confirmation that the CBI has changed from the removal of dinar from the economy to a position of little activity. Over the last week this is exactly what we have seen. No dinars to be bought, and the CBI has not sold dinar in any significant amount. Just like we predicted. The dinar is "drying up". They removed over 1 Trillion from the economy in a very short period of time. We stated that over the last week that what we did not see was going to be more important than what we did see. And this is what has happened. All of this is exactly what one would predict prior to an RV. Interesting times? You bet. And they might just get more interesting in the next few days. Good Luck

But the CBI could have still raised the exchange rate by a couple of dinars, as they've been doing for for the past few weeks, couldn't they? Is anything to be made of the fact that the exchange rate didn't change today? Aside from the hope that in a day or two they are SERIOUSLY going to change the rate?

Caroline

Originally Posted by Adster

Nice find sus, file not found when you go in for the whole article. When did the bank auctions start? was under the impression it was when the artificial programme rate was started after the troops ousted Saddam.....Anyone? (Hope this won't be moved to the crazy thread).

hey, we were on the arabic side of the cbi site in september and there was a note we couldnt read at the bottom of a file. the timeline would figure out to about now. this is what they were refering to at the bottom of that pdf file we found. oh this is exciting, sorry im typin as we are discussing... i will add to this in a bit and edit...

The question was asked, "have we hit bottom"? I'll go out on a limb and say YES I think they have reached their target level of removal and this was done in such a dramatic if not panic period of time. I smell an RV. So what happens next is going to be soon and exciting. Just an opinion. Good Luck all.

Originally Posted by Caroline

But the CBI could have still raised the exchange rate by a couple of dinars, as they've been doing for for the past few weeks, couldn't they? Is anything to be made of the fact that the exchange rate didn't change today? Aside from the hope that in a day or two they are SERIOUSLY going to change the rate?

Caroline

It's like they stopped in their tracks and didn't finish whatever it was....could they have gotten a call from Maliki on his way back to Iraq after the conference?????? Something is really really strange....but strange in a good way.