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

Goooooooooooood Morning RolClub !!

The price of the dinar to the dollar came down one point from 1430 to 1429 and another $5,785,000 (net) worth of dinars (8,266,765,000) came out of circulation with 9 banks participating. That puts our grand total of dinars withdrawn from circulation as of the 20th auction since the CBI embarked on this dinar reduction campaign to: 1,085,168,715,000.
We are now 35 days into the CBI's reval plan.

Originally Posted by Socata 850

Goooooooooooood Morning RolClub !!

The price of the dinar to the dollar came down one point from 1430 to 1429 and another $5,785,000 (net) worth of dinars (8,266,765,000) came out of circulation with 9 banks participating. That puts our grand total of dinars withdrawn from circulation as of the 20th auction since the CBI embarked on this dinar reduction campaign to: 1,085,168,715,000.
We are now 35 days into the CBI's reval plan.

This is very good. Just like we have seen over the last few days. Taking a modest amount of currency out of circulation while lowering the exchange rate. The more they take out, the more your dinar will eventually be worth. So let 'em go! Thanks

Announcement No.(819)

D.G. of Foreign Exchange Control

The 819 daily currency auction was held in the Central Bank of Iraq day Tuesday 2006 / 12/ 5 so the results were as follows :

Details Notes
Number of banks 9 -----
Auction price selling dinar / US $ 1429 -----
Auction price buying dinar / US $ 1427 -----
Amount sold at auction price (US $) 9.085.000 -----
Amount purchased at Auction price (US $) 3.300.000
Total offers for buying (US $) 9.085.000 -----
Total offers for selling (US $) 3.300.000 -----

Banks are still stocking up on dollars. High volumes again, almost 3-1. Looks very much like they're backstopping for some reason.........hhhmmmm, now what could that be for?

Originally Posted by Adster

Banks are still stocking up on dollars. High volumes again, almost 3-1. Looks very much like they're backstopping for some reason.........hhhmmmm, now what could that be for?[/COLOR] [/B][/I][/COLOR][/SIZE][/FONT]

Could be that Santa had a word and wants to be considered too to Cash in BIG Time and spread the budle around.... don't forget to submit your "wish list" to Santa....


YB. cheers to all waiting patiently....it will snow too in Iraq...someday!

raq, 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


mmmmmmmmmm i like this.

Originally Posted by kiko

The dropping of the dollar caused by the low interest rates
04/12/2006

....

He pointed out that: "The slight rise or decline of the dollar does not obstruct the growth or value of the dinar which is expected to become stronger than before with the introduction of the balance of 2007 and the strategic application of the new monetary policy announced by the government last year".

......

http://www.iraqdirectory.com/DisplayNews.aspx?id=2698


They are telling us it's coming. I am gonna fasten my seatbelts!!

While I do recognize the value of this article for us, the dinar speculators, I still have a question:

WHICH monetary policy has been announced LAST YEAR?

As far as I know, what CBI is doing now is a monetary policy that is a result of the inflation phenomenon of over 70% THIS YEAR .(2006)

Which policy are they talking about? Anyone knows?

And also, I believe that the IMF said 1345 IQD/1USD by Dec. 06, which I don't see it happening in one day ( today is Dec 5). So, I take it, the CBI revaluation of the dinar is not exactly related to the IMF target....hmmm...

Advn.....bid 1429 ask 1430......traded 1429.3 at 4:59:12

ADVFN - ADVFN

I'm curious to see how many times it trades today, it seems alot more active this past week

Originally Posted by Jola

And also, I believe that the IMF said 1345 IQD/1USD by Dec. 06, which I don't see it happening in one day ( today is Dec 5). So, I take it, the CBI revaluation of the dinar is not exactly related to the IMF target....hmmm...

Believe they meant Dec 2006 with the 06 Jola

The card payment system above sounds promising. I'd say 6 months to complete the network. Looks good.

Originally Posted by Inscrutable

Believe they meant Dec 2006 with the 06 Jola

The card payment system above sounds promising. I'd say 6 months to complete the network. Looks good.

Maaan, you just burst my bubble!!

That's all right.
I thought I have something. Thanks for correcting me.