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

Announcement No.(825)

D.G. of Foreign Exchange Control

The 825 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 12/ 13 so the results were as follows :

Details Notes
Number of banks 10 -----
Auction price selling dinar / US $ 1414 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 17.125.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 17.125.000 -----
Total offers for selling (US $) ------ -----





D.G. of Investments

Daily price Bulletin buying and selling Wednesday 2006/12/13

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1416.000
1415.292

European Euro
EUR
1873.793
1872.856

Sterling Pound
GBP
2783.148
2781.756

Canadian Dollar
CAD
1226.399
1225.786

Swiss Frank
CHF
1177.057
1176.469

Sweetish Krone
SEK
207.710
207.606

Norwegian Krone
NOK
230.053
229.938

Denmark Krone
DKK
251.367
251.241

Japanese Yen
JPY
12.087
12.081


The above price represent reference rate and does not from any commitment on the Central Bank of Iraq.

Maybe Hoffa is in Iraq??? Haha what a laugh that would be. But maybe that is the reason why the FBI Director is saying they will solve the case, maybe soldiers came across Hoffa while searching for terrorist.....

FBI Director Says Hoffa Case Will Be Solved - AOL News

Originally Posted by Jola

I am trying to firgure out the two new negative articles that came out: the L.A. article and this Reuters new one.

The first one says that a lot of dinar holders are cashing in, and it does say that the dinar rate willl go down ( I hope everyone has read it and noticed that comment).

Then the Finance minister 's interview says : well, the dinar rate will do go up to only 1260 for a dollar, which - for most international dinar buyers - it will give us a break even with NO profit.

So here we go:
- if you bought dinars before, cash it in now, because the rate will go down! - DINAR HOLDERS RUN TO THE BANK TO CASH IN
- there is no profit to be made if you guys buy the dinar now , cause it will go up to only 1260/$1 - at which rate you will only break even- so what's the point of buying the dinar in the first place? PEOPLE WILL NOT BUY DINARS.


And all this while FIL is waiting to be enacted, and HCL ready to be ratified.

You see where I am coming from?
Am I the only one who's reading these negative articles this way?
The CBI is puling dinar in, so they need to let the world know that there is no money to be made by buying dinars. :) But we know better!

Actually, Jola, the CBI want new investors to buy IQD believing it will go up even higher than the anticipated 1260. That's what brings USD reserves into the Iraqi banking system. More reserves = a higher future currency exchange rate for Iraq. They are in a great position right now. This is the real reason they've taken so many billions of IQD in at the lower rates. It's a simple profit making transaction.

The 825 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 12/ 13 so the results were as follows


Details Notes
Number of banks 10 -----
Auction price selling dinar / US $ 1414 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 17.125.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 17.125.000 -----
Total offers for selling (US $) ------ -----

Originally Posted by postcon

If the RV doesn't happen by the end of the year, what do you think the likely plan would be by the CBI next year? Continue with a gradual rise or still banking on a sudden high revalue?

Post, there will be multiple re-vals until the end of the year and into the first three months of 07. The gameplan has been for a gradual IQD value increase all along and has been quad verified. Numerous articles have come out from various Iraqi banking, oil, financial, Government officials saying this very thing. It's the best method to achieve their goals. And ours I might add!!!

CBI just updated!!!!!!! 1415!!!!!!!!!!!!!!!!!!!

Originally Posted by mike brown

i heard he was all about the DONG !!

..... just can't get over the name of the currency

You can always call it by the correct initials VND. Like the Iraqi Dinar is IQD. Problem solved!

Originally Posted by MunnyBaggs

CBI just updated!!!!!!! 1415!!!!!!!!!!!!!!!!!!!

Sorry, 1414, 10 banks.

Iraqi foreign minister affirms talks with Kurdish region on oil, budget
13 December 2006 (BBC Monitoring)

Iraqi Foreign Minister Hoshyar Zebari has affirmed that the negotiations between the Iraqi central government and the government of the Iraqi Kurdistan region on the issues of oil and the government budget "are not stalled, because they are continuing". He noted that Kurdistan is part of Iraq and depends on Baghdad. Therefore, talks should take place about the general budget and the region's share in this budget.

In an interview with Al-Hayat during a visit to Morocco, which coincided with the meeting of the Investment Forum, Zebari explained that there is disagreement about the budget share of the regions. The political agreements granted 18 per cent of the general budget to the regions, while currently they are receiving no more than 13 per cent only.

Regarding the Kurdistan region's signing of oil contracts with some international companies recently without consulting the central government, Zebari affirmed that talks are taking place between Arbil and Baghdad to "reach a compromise solution acceptable to both sides." He said that the solution is for the central government to be represented in these negotiations and no negotiations to take place with any company without the participation of the central government.

Zebari said that the negotiations regarding the oil contracts also stipulate that "the region's government is responsible for resolving any disagreement pertaining to the oil contracts." However, he stressed that according to the Iraqi Constitution, "the oil wealth is the property of the people."

Responding to the fear expressed by some Arab officials that the signing of oil contracts by Kurdistan and the southern Iraqi region could lead to the partition of Iraq and thus could affect the oil sector in Iraq and the world, he said, "No one is demanding separation or partition.

The political system endorsed by the Constitution gives the right to the region's government to have a sort of independence on the oil issue. The Constitution also gives the region the right to manage the revenues from oil, if this oil is produced in this region."

Zebari attributed the decision of international oil companies to invest in Kurdistan and not in any other part of Iraq to the fact that the region was not facing security problems like those the central and southern Iraqi regions were facing.

Iraqi foreign minister affirms talks with Kurdish region on oil, budget | Iraq Updates

Turkish, Iraqi ministers spar over Kirkuk at Bahrain meeting
12 December 2006 (Turkish Daily News)
Defense Minister Vecdi Gonul over the weekend reiterated the Turkish capital's frustration with the Iraqi Kurdish bid for domination of northern Iraq's multiethnic and oil-rich city of Kirkuk

At a conference held by the International Institute of Strategic Studies in the Bahraini capital of Manama on Sunday, Gonul said Kirkuk's future status carries major implications for Turkey and Iraq's other neighbors no matter who controls the city and its surrounding oilfields. He asked the Iraqi Shiite and Kurdish-led government to avoid imposing an "unrealistic" future on Kirkuk.

However, Iraq's foreign minister, Hoshyar Zebari, an ethnic Kurd, warned Turkey not to meddle in "our Kirkuk."

"You speak of Kirkuk as if it were a Turkish city," Zebari told Gonul. "These are matters for Iraq to decide."

The Turkish capital is worried that Iraqi Kurds are trying to take control of Kirkuk as part of their push for an independent state on Turkey's border and has repeatedly urged power-sharing among ethnic groups in the Iraqi oil center of Kirkuk.

The city lies just south of the Kurdish autonomous region stretching across Iraq's northeast. Kurdish leaders want to annex the city. Iraq's constitution calls for a census and referendum on the issue by the end of next year.

"We hope the natural resources of Kirkuk will be used by all groups in Iraq without discrimination," Gonul told the International Institute of Strategic Studies conference in the Bahraini capital.

Bildt warns over treading on dangerous ground':

Kirkuk is an ancient city that was once part of the Ottoman Empire, with a large minority of ethnic Turkmens as well as various Christians, Shiite and Sunni Arabs, Armenians and Assyrians.

Since the U.S.-led invasion in 2003, Kurdish forces in northern Iraq have rallied to reverse what they claim to be the Arabization policy of Saddam Hussein, which purged Kirkuk and other oil-rich Kurdish areas and replaced Kurds with Arab settlers.

Thousands of Kurdish settlers from northern Iraq have flooded back into Kirkuk, colonizing the city's desert outskirts. Many believe the influx is a bid to change the city's ethnic balance ahead of a 2007 census and referendum to decide whether Kirkuk will be annexed to Iraq's autonomous Kurdistan region.

The grim Iraq Study Group assessment issued in Washington last week described Kirkuk as a "powder keg" and recommends that the referendum be delayed.

Swedish Foreign Minister Carl Bildt warned those favoring the partition of Iraq that they were treading on dangerous ground. "Every partition is written in blood," Bildt told the security conference in Bahrain. "The carnage we see today is only the beginning of the bloodshed we will see if there is a partition."

Gonul agreed, saying Iraq's fragmentation "will be the beginning of a disaster that will engulf the whole region."

The International Institute of Strategic Studies conference has brought together some 200 security representatives from more than 20 countries, including Iran, Iraq and the United States.

Turkish, Iraqi ministers spar over Kirkuk at Bahrain meeting | Iraq Updates