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

Originally Posted by Drjansson

Then if it hits 1345 by the end of year what will happen next? are they going to RV it?
if The HCL and FIL will be enacted will it be a boost for the iraq economy?

That is the million dollar question...

Cross your fingers, pray, whatever it is you like to do - just know that it will happen - when is the only question.
Merry Christmas and a happy holiday season to all of you!

I wasnt sure if this has been posted as my broadband has been playing up, but I thought the conversion of dinars to dollars was interesting, could it be a clue... hmmm 0.66


http://www.iraqdirectory.com/DisplayNews.aspx?id=2776

Nearly half of Iraqis able to work are idle, said Minister of Labor and Social Affairs.

Mohamed Radhi said the high jobless rate was devastating to a country torn by sectarian strife and violence.

He said combating unemployment was as important as the fight against ‘terror’. Joblessness plays into the hands of ‘terrorists’, he said.

He said he had drawn a plan to provide short-term loans to families willing to start up their own businesses particularly those who depend on social benefits for a living.

“This project will contribute to defeating terror and terrorists who target sources of energy and labor. As a result unemployment has reached more than 50 per cent in some provinces,” he said.

He said he had 100,000 small-sized projects in mind and has urged the government set aside enough allocations to have the scheme in place in 2007.

Each family will be given a loan of 10,000 dinars (approx. $6,600) to start the project, he said.

Originally Posted by webinvestor

That is the million dollar question...

Cross your fingers, pray, whatever it is you like to do - just know that it will happen - when is the only question.
Merry Christmas and a happy holiday season to all of you!

Exactly, 18 months ago it was a big IF it happens, now with government, debt forgiveness and FIL/soon to be Oil Law and ICI it's a no brainer of WHEN.

Merry xmas buddy, and to everyone else.

A few days ago I did some digging and came up with a few email addys from http://www.feas.org/member.cfm and sent a simple email to each of the addresses.

This was my simple email.

Dear Sir,

Thank you for your time.

When do you expect the ISX to be indexed with the Dow Jones Index in the United States.

Is the Investment law hindering this move.

Thank you.

XXX XXXX

I received a reply from the ISX CEO I'm impressed.

"taha salam" <[email protected]>

Dear ---,

The BOG in ISX now, writing the trading rules for the F investors .
I believe we will join the world operations after we finished the automation in April 007.

Regards,
TAHA AHMED ABDUL SALAM
ISX CEO

So they are still working on the rules but expect world operations by April.

FEAS | Federation of Euro-Asian Stock Exchanges

Correct link.

Originally Posted by hightide3016

Central Bank opens the daily auction of treasury remittances
and denies determining the price of the dollar against the Iraqi dinar

--------------------------------------------------------------------------------

21 December 2006 (Iraq Directory)
Print article Send to friend
After its price was down for more than a week, the dollar exchange rate rose again in the daily auction of the Iraqi Central Bank, no."822", for buying and selling foreign currencies.

A source in the Bank indicated that the number of banks participating in this auction amounted to 10 banks between governmental and private.

(((((((((((((((((SNIP)))))))))))))))))))))))

It is noteworthy that some economists pointed out the Bank have sought to reduce the price of the dollar against the Iraqi dinar through the monetary policy which it follows in the opening of the daily auction for treasury remittances.

Announcement No.(831)

D.G. of Foreign Exchange Control

The 831 daily currency auction was held in the Central Bank of Iraq dayThursday 2006 / 12/ 21 so the results were as follows :

Details Notes
Number of banks 6 -----
Auction price selling dinar / US $ 1360 -----
Auction price buying dinar / US $ 1358 -----
Amount sold at auction price (US $) 1.250.000 -----
Amount purchased at Auction price (US $) 1.500.000
Total offers for buying (US $) 1.250.000 -----
Total offers for selling (US $) 1.500.000 -----


Another example of old news being printed with a current date. Article was dated Dec 21st but was referring to auction #822. Auction on Dec 21st was # 831. Gee, they are only 9 auctions behind.

Wow now the prices are finally going up!

As of today!

Goldraker $ 799.98/Mil
Safedinar $ 815.00/Mil
GIDAssoc $ 820.00/Mil
USDinar $ 850.00/Mil

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This is my first post on this forum so please be gentle. I have been lurking here for quite a while keeping my opinions to myself. And I have been a member of the "other 2" forums. It seems the best info does infact come from here and gets regurgitated over there so I figured why not just register and stay on this forum.

I have been in this investment since the very begining. I dont hold that much but it's alot for me I guess. "Dont buy more than you can afford to loose". Ive heard that alot, but with holding my dinar for over 2 years now I'm getting antsy, something's gotta give sooner or later. I know that its been moving in the right direction lately, but I just dont understand how 1345 or whatever has been predicted is going to cut it.

My question is, and iv'e been hearing this alot, it will raise in value to a certain point, and then they will move the decimal. How in the world is this possible? What would be the point of a gradual movement if you're just going to move the decimal in the first place?

Dont get me wrong, I have no knowledge of global economics, and I dont know what I'm talking about. Just seems to me that people are shooting for the moon with all the "it's gonna do this, its gonna do that, on this day this will happen, its almost here now, here it comes, wait for it". And then it never does. No one has any idea except the people pulling the strings over there.

I have no idea, my head is spinning, i think im about to loose my mind.

DanielJay

Originally Posted by goldraker

Wow now the prices are finally going up!

As of today!

Goldraker $ 799.98/Mil
Safedinar $ 815.00/Mil
GIDAssoc $ 820.00/Mil
USDinar $ 850.00/Mil

Safedinar went up to $845 for 1 Mil x 25K Notes