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

Originally Posted by Christmas1971

Okay Dinar Peeps(people)

I just got off the phone with a Chase Bank Mgr. I was asking about cashing in my dinars without having an acct. He told me that there is a $5 service charge(which I am not sweating) he also said there is a 2 day turn around time(still ok) He asked how much did I want to trade in(for which I gave no answer) then he proceeds to tell me that they can only cash up to $5000 a day. It look like I'll be setting up sleeping quarters in Chase Bank. Has anyone else heared of any Nonsense such as this?????

Hmmmmm, this might cause a problem for some of us if it rv's at $1+. Some of us only have the 25K notes. What to do, What to do? Guess we'll just have to see if we can have it deposited?

Originally Posted by Alphamystic

Just for comparison, does any know how many oil fields are in Saudi? I tried to Google but couldn't find a number.

I don't know the number of fields they have, but I am told they produce around 9MBD. But my energy friends say they are pumping a lot of salt water (very bad sign) and they have passed peak oil production. They are having to go in and re-log and perforate their producing wells. Signs indicate they are on the down swing in terms of increasing their production. They'll be a major player for years, but Iraq has the possibility of surpassing them at some point. Maybe by then we'll all be out of the market and in some island somewhere.

Originally Posted by postcon

Is it possible that Iraq is adhering to IMF's target rate of 1365 (not sure of the exact mentioned rate) and is actually on course to meet the target by the year end hence the low decrements in dinar value over the last couple of weeks or so?

I think this is Exactly what is happening. A slow rise over time. If they don't and jump to $1 I think we are looking at a new Currency. This slow rise scenerio is the best for us.

A shiiteload of dollars today, interesting, looks like they're in a hurry for some reason, hhhmmmmmmmm, I'm thinking they're backstopping payouts for an imminent reval.

Details Notes
Number of banks 7 -----
Auction price selling dinar / US $ 1430 -----
Auction price buying dinar / US $ 1428 -----
Amount sold at auction price (US $) 6.500.000 -----
Amount purchased at Auction price (US $) 1.930.000
Total offers for buying (US $) 6.500.000 -----
Total offers for selling (US $) 1.930.000 -----

Originally Posted by kiko

STS announces selection of Hypercom's Optimum Technology by Iraq's SFS Aman
Iraq, 04 December 2006 (AME Info FZ LLC)


STS, a leading regional integrated IT solutions provider, has announced that SFS Amman, the leading financial services company in Iraq, has selected and will install Hypercom's T2100 countertop card payment terminals and associated networking products at hundreds of retail locations throughout Iraq's 18 states.

SFS Amman selected Hypercom's 32-bit Optimum T2100 hand-over countertop terminal because of its compliance with EMV high security smart card standards, its ability to perform both smart card and loyalty card functions quickly and simultaneously at the point-of-sale (POS), and Hypercom's ability to provide an end-to-end solution, including a customised transaction communications network with associated management software.

'We are using Hypercom's card payment terminals, software, networking technology and transaction communications capabilities to put in place the country's first point-of-sale network. We fully anticipate signing up several thousand merchant locations as we move forward, and the potential for growth is significant,' said Kenny Zair, Chairman of SFS Amman.

'The installation of the first point-of-sale network in Iraq is a positive step for the electronic payment industry, for Iraq's merchants and the country's 27 million residents, and we are pleased that our partner Hypercom's products have been selected above all others,' said Aiman Mazahreh, President, STS.

'Hypercom's products have received more EMV approvals than any other electronic payment device provider, and that gives us a strong competitive advantage,' said O.B. Rawls IV, Senior Vice President, International Sales, Hypercom Corporation. 'SFS Amman's selection of our high-security Optimum products strengthens our presence in the EMEA region.'

Hypercom maintains a network of over 36 distributors and integration partners throughout Europe, the Middle East and Africa (EMEA), in addition to nearly a dozen service locations, as well as R&D centres in Scotland, Sweden, Russia and Latvia, with ongoing software development to meet the multi-application requirements of EMEA customers.

The Optimum T2100 is a high-speed 32-bit EMV 4.0 and VISA PED-certified device with an integrated EMV-compliant smart card reader, built-in printer, large memory to accommodate multiple applications, support for multiple languages and currencies, hand-over countertop design and graphical interface that guides customers through transactions with clear prompts.

STS announces selection of Hypercom's Optimum Technology by Iraq's SFS Aman | Iraq Updates

This does not say when (I know: "soon"!) this technology is to be placed and when it will be operational. Do you think Mr. Shabibi wanted to at least remind merchants that this is coming in order to minimize the differentials (and resulting confusion) between the value of the dinar at the beginning of the day and close of business following the RV, for the first few days? Is this like sitting at a red light and being able to see the amber light come on for the traffic going the other way so that you can anticipate the green and be sure the intersection is clear before proceeding?

Originally Posted by ronbo

Hmmmmm, this might cause a problem for some of us if it rv's at $1+. Some of us only have the 25K notes. What to do, What to do? Guess we'll just have to see if we can have it deposited?

Its possible that Chase and Boa have 5K and 1K notes that they are holding to make change - just aren't selling them IMO.

For Wciappetta!
I am very curious why you have the icelandic flag in your info. I thought you were a brit!!

There was a talk back a few threads if banks were selling dinars in Europe, I can confirm no banks selling in Iceland. Just made sure a little something pretaining to the dinar here also. Hope I get away with this. he he he.
Greetings to all.
Kristy.

Originally Posted by Mike5200

Its possible that Chase and Boa have 5K and 1K notes that they are holding to make change - just aren't selling them IMO.

I just picked up 600,000 from Chase today. All 25k's and all uncirculated.

Originally Posted by Christmas1971

Okay Dinar Peeps(people)

I just got off the phone with a Chase Bank Mgr. I was asking about cashing in my dinars without having an acct. He told me that there is a $5 service charge(which I am not sweating) he also said there is a 2 day turn around time(still ok) He asked how much did I want to trade in(for which I gave no answer) then he proceeds to tell me that they can only cash up to $5000 a day. It look like I'll be setting up sleeping quarters in Chase Bank. Has anyone else heared of any Nonsense such as this?????

Heard the same. It is nonsense!

They´ll loose a lot of good Business in future if thats corekt.