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

Originally Posted by adm

Pardon, if already posted

Posted by: nadioshka on Thursday, December 28, 2006 - 12:07 AM

Kurdistan-U.S.
Kurdistan asked U.S. to set up military base in the region – minister
By Chiman Salh
Erbil, Dec 27, (VOI) – Iraqi Kurdistan has asked the United States to set up a military base in the region, Peshmerga Affairs Minister Sheikh Hussein al-Sheikh Mostafa said on Wednesday.
Another Kurdish official, however, sought to water down the issue saying it was not discussed formally and it needs the approval of the Iraqi parliament.
“We have asked the Americans during several sessions this year to build a U.S. military base in Kurdistan region,” Mostafa told the independent news agency Voices of Iraq (VOI).
“It is still under discussion between the Kurdish and U.S. sides and we did not reach a clear and official agreement so far,” he added.
He said the reason for building a U.S. base in Kurdistan was “to protect the region from exterior and interior dangers.” He did not elaborate on the dangers.
Meanwhile, the head of foreign relations office in Kurdistan government Falah Mostafa Bakr told VOI the issue of a U.S. base was not discussed officially. Bakr, however, did not say if there were unofficial discussions about the suggested base.
He said such an issue should be done in agreement between the region’s government and the Iraqi government and should get the approval of the Iraqi parliament.
Kurdish legislator Ariz Abdullah said that setting up a U.S. base in Kurdistan did not need the consent of the region’s parliament.
“This is because there is cooperation agreement between the Kurdish leadership and the U.S. army which states that Kurdistan parliament should not necessarily be consulted if a U.S. base was to be set up in the region,” Abdullah said.

It's amazing to me how one day the media is wanting us to leave and the next thing you know, the poeple of Iraq are asking for an ongoing presence of our military. This must be part of the reason for our delay...they want to make sure their resource will be protected from sabotage. It's all good!

Originally Posted by boomcreek

It's amazing to me how one day the media is wanting us to leave and the next thing you know, the poeple of Iraq are asking for an ongoing presence of our military. This must be part of the reason for our delay...they want to make sure their resource will be protected from sabotage. It's all good!

Not only that. They want to make sure they're protected in the future in case another Saddam comes along. They had a protected no fly zone before the war. If we leave they're on their own. Smart move on their part and smart move on our part if we do it.

Emirates Narrowing Dollar Reserves

29/12/2006



DUBAI, United Arab Emirates, (AP) - The wilting U.S. dollar is pushing the United Arab Emirates, a close U.S. ally, to convert 8 percent of its foreign exchange reserves into the healthier euros, the central bank governor said on Thursday.
The Emirates' nearly $25 billion currency reserves are currently 98 percent dollars. That percentage will drop to 90 percent in six to nine months if the bank's directors approve the switch as is expected, Central Bank governor Sultan Bin Nasser al-Suwaidi said.

The sale itself is a small one, worth about $2 billion. But the implications of a cash-rich friend of Washington selling off its dollars is a sign that central banks elsewhere may be looking to cut losses from a dollar widely expected to slip further in 2007.

"It's a prudent move and it's indicative of broader thinking," said Simon Williams, HSBC's chief Middle East economist. "It's another factor that will exert downward pressure on the dollar."

The dollar fell to $1.3132 euro in European trading on Thursday, compared with $1.3123 in New York on Wednesday.

A bigger worry for the U.S. Federal Reserve Bank is that the six energy-rich Gulf Arab countries may consider converting dollar holdings in their far larger government investment funds, which Williams said keep more than $1 trillion under management. Gulf governments typically do not release the compositions of those funds.

"If they're moving those assets out of the dollar on the same scale, that's a much bigger deal," Williams said.

The six Gulf Cooperation Council countries — the Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman — enjoy a collective current account surplus of around $220 billion this year, which must be invested in foreign assets.

With a faltering dollar, Williams said a smaller amount of that energy surplus will flow into U.S. assets.

"A good chunk of that will still flow toward the U.S., but less than in the past," he said. "The Fed will be watching this very closely."

Other countries, including Russia, Venezuela, Indonesia and Iran also have decided to cut their dollar reserves or, in Iran's case, start pricing oil in the European currency.

During OPEC's Nigeria summit this month, OPEC President Edmund Daukoru said the organization was "not rushing into other currencies." But since global oil purchases are made in dollars, the shrinking dollar slashes the purchasing power of oil exporters.

The Emirates decision to sell off its dollar holdings comes against a backdrop of strain in its normally warm relations with Washington.

Many here were upset earlier this year when the U.S. Congress blocked the sale of U.S. port operations to Dubai-based DP World — a move that officials here said smacked of anti-Arab bias. Since then, talks on a free trade pact between the Emirates and Washington have also faltered.

Originally Posted by lazyasL

i posted this yesterday on another site and didn't get much response...maybe someone from here might have an opinion........

Question?

On FXConverter - Currency Converter for 164 Currencies: I have been tracking the movement of the dinar. Something interesting is going on.

On Sunday, December 24 the CBI rate was 1352, and the conversion was $753.920 per million

On Monday, December 25 the CBI rate was 1345, and the conversion was $753.920 per million

On Tuesday, December 26 the CBI rate was 1338, and the conversion was $754.318 per million

On Wednesday, December 27 the CBI rate was 1325 and the conversion was $755.173 per million

Today there is NO change in the CBI rate, still at 1325 and the conversion jumped $17.12 to make the conversion at $773.292 per million……….WHY?

Now today (Friday December 29) still NO change in the CBI rate (which we know will be the same for the next few days) at 1325 and the concversion jumped $14.28 to make the conversion at $787.573 per million.....THOUGHTS

FXConverter - Currency Converter for 164 Currencies

That put's the rate down to approx. 1293:1

xe.com Universal Currency Converter ® Results
Live mid-market rates as of 2006.12.29 15:12:17 UTC.
WARNING: Beware investment scams involving IQD Iraq Dinars. More info
1.00 USD
United States Dollars = 1,323.10 IQD
Iraq Dinars
1 USD = 1,323.10 IQD 1 IQD = 0.000755801 USD
New! XE.com Forex Speculation. Click here!!

Friday, December 29, 2006

1 Iraqi Dinar = 0.0007876 US Dollar
1 US Dollar (USD) = 1269.72 Iraqi Dinar (IQD)

Learn about the new Iraqi Dinar
Median price = 0.0007186 / 0.0007876 (bid/ask)
Minimum price = 0.0007129 / 0.0007808
Maximum price = 0.0007221 / 0.0007916

FXTrade: Online Currency Trading with OANDA FXTrade.


FXConverter - Currency Converter for 164 Currencies164 Currency Converter © 1997-2006 by OANDA.com.

How is it that we have a swing between the two of around 50 points? The CBI site has not changed and still shows yesterdays rate of 1325. This has always puzzled me, but never really worried about it, as I see CBI as officially the real rate.

Gloribee

Stop Fundamentalism, December 28 –Iraq’s Central Bank auctioned the Iraqi Dinar at 1325 per Dollar as Dinar was reportedly exchanged for 1337 in open market as exchange sources reported, Thursday.


Earlier last week, the Central Bank called 2006 a record year for exchange of Dollar into Iraqi Dinar as $109 million was registered to exchange at the participating banks.

Since the introduction of new Iraqi Dinar, this currency has demonstrated a great potential in gaining value against Dollar as it was traded for just below 1440 per Dollar at the end of last month.

Some analysts anticipate that the Iraqi government plans to push Iraq’s Dinar value high to be fixed at 1000 per Dollar. The Iraqi Central Bank has since denied any attempt by the bank to do so.

Just because the CBI is sitting at home sipping coffee, doesn't mean things are not happening. Along with OANDA, The Currency Site: Foreign Exchange Services and Trading, check this out: XE.com - Information on The IQD Iraq Dinar




Yes Boys & Girls. Like Eddie Kendricks from the Temptations used to sing - "Keep On Truckin'" baby...

Safe Dinar is selling again. (I know this has been stated already)

However..... You can no longer get small amounts. That is, the minimum order is now 1Million Dinar, regardless of denomination.

And they have no 5K notes as well.

Just an FYI for the forum.

Thank you.