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

Originally Posted by CharmedPiper

Has anyone heard this morning what the black market street rate for the dinar is. Looks like black market will pull street business away from CBI.

Hey Charmed, this article says that the dinar rate on the streets was 1420 on Sunday.

Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq

Voices of Iraq: Iraq-Currency
Posted by: saleem on Sunday, December 03, 2006 - 01:55 PM
Iraq-Currency
Iraqi Central Bank sells $7 million at daily auction
By Dergham Mohammed Ali
Baghdad, Dec 3, (VOI) – Demand for dollars was higher at the Iraqi Central Bank daily auction on Sunday to $7 million from $1,330 million in Wednesday’s auction while no bids to sell or buy dollars were made in Thursday’s auction.
The central bank said in its daily statement it covered all bids which were $7 million in foreign transfer.
The dollar exchange rate was 1,433 dinars , two ticks lower than Wednesday.
Three banks that participated in the auction offered to sell one million dollars.
Mr. Ali al-Yasseri, exchange company owner, told the independent news agency Voices of Iraq (VOI) “the central bank offered to sell dollar today with an exchange rate of 1,433 dinars which is higher than that of the local market. The exchange rate in the local market was 1420 dinars a dollar on Sunday.”

Originally Posted by Wm.Knowles

I have reposted what I wrote yesterday. I think these comments apply today, and could give us an idea of what to expect over the next couple of days. Its all good for us. I noticed that the rise in dinar is getting attention in Saudi Arabia and elsewhere. Once I was told by an asute financial type that when the dinar rises 10%, there will be a world-wide feeding frenzy on the currency. I have always thought that he was right. A rise in value of a currency gives the people great feelings of confidence. This is harder to measure but just as important overall. So people will save and hesitate to get rid of their money, especialy when they think it will be more valuable. As I have said, we are still seeing a reduced supply along with an increasing demand. A classic situation for a rise in price.

Just wanted to point out that was back in 2005.

We have our first winner, wooooooooooooooooooooooooooooot, well done Mustang Sally, 4k for choosing Germany!

Who's first to try todays country below......


http://www.rolclub.com/iraqi-dinar-d...d=1#post144535

The decline in the demand for dollar
Baghdad - (Voices of Iraq)

Decreased demand for the dollar purchase auction in the Central Bank of Iraq today, Monday, recording six million and $ 500 thousand versus seven million yesterday, Sunday,.

The bulletin issued by the Central Bank of Iraq today that the amounts sold by the bank were fully in the form of remittances were covered by the full exchange rate reached 1430 dinars, down three points on the exchange rate yesterday.

Conversely made seven banks to participate in the auction, bids for the sale of one million and 930 thousand dollars, the bank bought a full exchange rate amounted to 1428 dinars to the dollar.

He said Mr. Ali Yasiri, a dealer with the Central Bank said in a statement to the Iraqi News Agency (Voices of Iraq) Independent today that the exchange rate is equal to the sale price of the dollar in the local market. It is 1430 dollars, That price is the sale price amounts to a few, The large amounts, the rate of exchange which could be less, about 1420 dinars.

He said that in any case, this convergence of the exchange rate if it settled on the No. soon it will encourage the purchase of return close to the previous rates.

ÏæáÇÑ-(ÅÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq


I like the statement "return close to the previous rates"!!

Originally Posted by kiko

The decline in the demand for dollar
Baghdad - (Voices of Iraq)

Decreased demand for the dollar purchase auction in the Central Bank of Iraq today, Monday, recording six million and $ 500 thousand versus seven million yesterday, Sunday,.

The bulletin issued by the Central Bank of Iraq today that the amounts sold by the bank were fully in the form of remittances were covered by the full exchange rate reached 1430 dinars, down three points on the exchange rate yesterday.

Conversely made seven banks to participate in the auction, bids for the sale of one million and 930 thousand dollars, the bank bought a full exchange rate amounted to 1428 dinars to the dollar.

He said Mr. Ali Yasiri, a dealer with the Central Bank said in a statement to the Iraqi News Agency (Voices of Iraq) Independent today that the exchange rate is equal to the sale price of the dollar in the local market. It is 1430 dollars, That price is the sale price amounts to a few, The large amounts, the rate of exchange which could be less, about 1420 dinars.

He said that in any case, this convergence of the exchange rate if it settled on the No. soon it will encourage the purchase of return close to the previous rates.

ÏæáÇÑ-(ÅÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq


I like the statement "return close to the previous rates"!!

I like that statement too.

Originally Posted by Jola

Hey Charmed, this article says that the dinar rate on the streets was 1420 on Sunday.

Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq

Voices of Iraq: Iraq-Currency
Posted by: saleem on Sunday, December 03, 2006 - 01:55 PM
Iraq-Currency
Iraqi Central Bank sells $7 million at daily auction
By Dergham Mohammed Ali
Baghdad, Dec 3, (VOI) – Demand for dollars was higher at the Iraqi Central Bank daily auction on Sunday to $7 million from $1,330 million in Wednesday’s auction while no bids to sell or buy dollars were made in Thursday’s auction.
The central bank said in its daily statement it covered all bids which were $7 million in foreign transfer.
The dollar exchange rate was 1,433 dinars , two ticks lower than Wednesday.
Three banks that participated in the auction offered to sell one million dollars.
Mr. Ali al-Yasseri, exchange company owner, told the independent news agency Voices of Iraq (VOI) “the central bank offered to sell dollar today with an exchange rate of 1,433 dinars which is higher than that of the local market. The exchange rate in the local market was 1420 dinars a dollar on Sunday.”

The situation is producing a black market for the dinars because the CBI are keeping the rate higher than the needs on the street. Looks to me like their people know what is round the corner and will continue paying the black market price in anticipation of what is to come soon.

I don't see any other option for the CBI but to reval. Suppy and demand, if the dinars dry up this will only push the value up.

me three

[QUOTE=Wm.Knowles;144518]I have reposted what I wrote yesterday. I think these comments apply today, and could give us an idea of what to expect over the next couple of days. Its all good for us. I noticed that the rise in dinar is getting attention in Saudi Arabia and elsewhere. Once I was told by an asute financial type that when the dinar rises 10%, there will be a world-wide feeding frenzy on the currency. I have always thought that he was right. A rise in value of a currency gives the people great feelings of confidence. This is harder to measure but just as important overall. So people will save and hesitate to get rid of their money, especialy when they think it will be more valuable. As I have said, we are still seeing a reduced supply along with an increasing demand. A classic situation for a rise in price. QUOTE]

Wouldn't this only apply if the rate was going up organicly as a result of free trade supply and demand, rather than a closed bank policy. The other concern is, does the CBI have the US dollars to cover the exchange of possibly a TRILLION US DOLLARS from existing holdings.

Originally Posted by kiko

The decline in the demand for dollar
Baghdad - (Voices of Iraq)

Decreased demand for the dollar purchase auction in the Central Bank of Iraq today, Monday, recording six million and $ 500 thousand versus seven million yesterday, Sunday,.

The bulletin issued by the Central Bank of Iraq today that the amounts sold by the bank were fully in the form of remittances were covered by the full exchange rate reached 1430 dinars, down three points on the exchange rate yesterday.

Conversely made seven banks to participate in the auction, bids for the sale of one million and 930 thousand dollars, the bank bought a full exchange rate amounted to 1428 dinars to the dollar.

He said Mr. Ali Yasiri, a dealer with the Central Bank said in a statement to the Iraqi News Agency (Voices of Iraq) Independent today that the exchange rate is equal to the sale price of the dollar in the local market. It is 1430 dollars, That price is the sale price amounts to a few, The large amounts, the rate of exchange which could be less, about 1420 dinars.

He said that in any case, this convergence of the exchange rate if it settled on the No. soon it will encourage the purchase of return close to the previous rates.

ÏæáÇÑ-(ÅÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq


I like the statement "return close to the previous rates"!!

I LOVE those PREVIOUS RATES!!!!

Originally Posted by Dinar Cha Ching

I LOVE those PREVIOUS RATES!!!!

Ditto, they must mean $3.22 and not .33 cents.