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

Originally Posted by AlwaysDreaming

Thanks Neno, I agree with you 100%. With the statement "Under this order
(13303) and the Coalition Provisional Government Order 39, a US Citizen has the same rights to investments as an Iraqi citizen. And then when I saw the statement that the Coalition Provisional Government dissolved on June 28, 2004, I questioned whether this would also dissolve these orders. Sorry for any confusion. So what you are saying is that the CPA dissolved, but the orders are still in effect. Thank you for your clarification.

I didn't say that the CPA disolved. I said that the Article clearly states that the CPA's Inception was disolved on June 28, 2004. My Point was thatwas what the Article States and says nothing of the Presidential Order:13303 being Disolved.

Funny how phrases of words can have so many different meaning with just one word moved around.

An official at the Central Bank of Iraq has predicted a deficit in next year’s budget as a result of pumping dollars into the local market to maintain the dinars exchange rate, reported Al-Hayat.

Noozz.com | IRAQ


HAPPY NEW YEAR

Originally Posted by mountaingirl

Wonder if this is the reval date? 1/17/07

This Wednesday is the 3rd.

Originally Posted by rvalreadydang

The Iraqi dinar rose 12.5% after penalty


:Mohamed thanked wrote :
.The exchange rate of the Iraqi dinar in Kuwait during the last two days, he developed against the background of the execution of former Iraqi President Saddam Hussein, where the exchange rate grew from 200 million Iraqi dinars to 225 million of which is a growth rate of 12.5% during the short period of time. .He said dealers in the exchange market to 'Al-Qabas' to make sure that as soon as the execution of Saddam initiated many of the exchange to speculation in the Iraqi dinar has reached the rate of one million when the execution on satellite channels to 260 million Iraqi dinars to one.

Translated version of http://www.alqabas.com.kw/Final/NewspaperWebsite/NewspaperPublic/

WOW!!!

Originally Posted by ozizoz

someone needs to read these again . . .please take note of number 6.

New Years Resolutions. What a shame. BaBye.

[QUOTE=orrkallen;155454]

Originally Posted by Wm.Knowles

"So, the money will be globally traded in a short time with many international banks in many countries. One of their (GOI & CBI) goals stated many times is to have a transparent economy fully intregrated into the global economy. So, we are in good shape..."

I have been on the forum for nearly a year now and would like to know the answer to a question that has been bugging me for the past few weeks. Whither there is a big "jump" in the value- what we have always refered to as the "Revalue", or a continuation of the positive, smaller increments in value, what will actually happen that will suddenly "allow" the other banks that already exchange other foreign currencies to include the NID to their list of world currencies? Will there be some "official recognition" by the Worldbank or the IMF that gives the go ahead to these other banks? Will it suddenly just pop-up on the FOREX some day and all the banks will "see" that and then include it, or what? Thanks in advance!
Blessings On YOU! AL

Nice post Al. I have worked in banking and commodities, years ago. My estimation is that U.S. federal banking regulations prevent banks from having much Dinar on hand because there is currently no real way for them to hedge their risk, should the Dinar drop in value. There is no real way to hedge the risk since there are no real foreign currency exchanges that deal in Dinar.

Foreign exchanges act as the buyer to a seller and a seller to a buyer. These exchanges also deal in forward, or 'futures' contracts. If a bank had for example, 10 million dinars on hand, it could then sell 'short' on the forex by a like amount and thereby hold those Dinars risk free. Particularly, if the Dinar value went down, it would hurt the bank's physical holding of Dinar, but, in like amount its forward short contract would appreciate.

My guess is that when Dinar is traded on a substantial currency exchange, the U.S. banks will deal with in it as the market for Dinar dictates.

Scott

Rush to Hang Hussein Was Questioned
By JOHN F. BURNS and MARC SANTORA
Published: January 1, 2007

BAGHDAD, Dec. 31 — With his plain pine coffin strapped into an American military helicopter for a predawn journey across the desert, Saddam Hussein, the executed dictator who built a legend with his defiance of America, completed a turbulent passage into history on Sunday.

Like the helicopter trip, just about everything in the 24 hours that began with Mr. Hussein’s being taken to his execution from his cell in an American military detention center in the postmidnight chill of Saturday had a surreal and even cinematic quality.

More Info Here:http://www.nytimes.com/2007/01/01/wo...html?th&emc=th

Originally Posted by pipshurricane

An official at the Central Bank of Iraq has predicted a deficit in next year’s budget as a result of pumping dollars into the local market to maintain the dinars exchange rate, reported Al-Hayat.

Noozz.com | IRAQ


HAPPY NEW YEAR

it is an EDITORIAL so who knows if they have a real line on whats going to happen

Originally Posted by pipshurricane

An official at the Central Bank of Iraq has predicted a deficit in next year’s budget as a result of pumping dollars into the local market to maintain the dinars exchange rate, reported Al-Hayat.

Noozz.com | IRAQ


HAPPY NEW YEAR

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The Iraqi Central Bank is expected budget deficit in 2007

Justice / follow-up to the authorized source at the
Central Bank of Iraq, it is expected that there will
be a deficit in the budget next year, by the process
of pumping dollars into the local market.

To preserve the stability of the dinar exchange rate. The Chief of Statistics and Research appearance Mohamed Saleh, the new budget will exchange allocations to the dollar, pointing out that the rise in the value of the dinar positively impacted by limiting expenditures, to reduce inflationary pressures in the Iraqi economy and reduce costs on prices.

He pointed out that 95% of the revenue budget depends on oil revenues, as a basic resource for the country, pointing out that the future will be encouraging the conditions for lifting the value of the dinar against the dollar, but could not determine the rate of exchange to proceed only after the real budget.

So, the dinar has risen against the dollar on speculation, "Central", and the sale price of the dollar last Sunday 1352 dinars, compared to 1360 dinars last Thursday. He expected the expert in the "Central" Majed picture, a marked improvement in the rate of the dinar, by the low dollar exchange rate, over the next couple of months.

The latest rise in the rate of the Iraqi dinar against the dollar exchange rate in 1995, but the exchange rate stabilized after that between 1400 and 1700 dinars to the dollar. He attributed the "central" reasons for the high rate of the dinar against the dollar, the stability in the sale of one dollar below the rate of real exchange rate. He explained that the picture of inflation suffered by the economy now is price inflation, and not monetary inflation, pointing out that the goal of "Central" is to limit the effects of inflation. T

he price inflation Vaspaph known, and among lower commodity presentations, and some greedy exploitation of the circumstances through which Iraq, and expected significant improvement in the rate of the dinar, and the drop in prices at this improvement

Have deployed : 2007 budget means theft of public money to the pockets of power
By Haider al
Najaf - (Voices of Iraq)

Sheikh Mohammed have deployed spiritual leader of the Virtue Party, today, Monday, to increase the budget for Iraq in 2007 as an increase in the suffering of Iraqis and the beneficiaries of these funds are autocrats and the decision because of the spread of financial and administrative corruption.

He added, have deployed in a statement issued today, and received the news agency (Voices of Iraq) independent copy of which, against the background of the government to allocate more than $ 40 billion earmarked for 2007, said : "The government described the budget set by the 2007 as explosive."

He said that "this news is a human Sarah in many countries of the world because it means more construction projects, reconstruction and improvement of the standard of living of the citizens."

He added : "But in Iraq, such news bears more of the pain and bitterness and rejection of the revolution and that means more of stealing public funds, and filling the pockets of power sources who dominate the resolution and illicit enrichment at the expense of the disadvantaged people."

He pointed out that have deployed "the Iraqi people defy the government to provide him a list regardless part of this amounts to find strategic projects on the ground and not imaginary projects and on paper."
He said, "strange that the government would convene the end of 2006 and shows the Prime Minister at a press conference to express the acceptance and satisfaction with the performance of the government and is described as better than expected" and said "despite the devastation crawl in the State facilities and vital installations and infrastructure."

The Virtue Party 15 seats in the House of Representatives, which is one component of the United Iraqi Alliance bloc region in the parliament (130 seats out of the total 275 seats in Parliament)
The first deputy chairman of the Iraqi parliament, Khaled al-Attiyah said earlier that the presidency of the parliament over the budget in 2007, amounting to 41 billion dollars, an increase of $ 11 billion from the budget in 2006.

The absence of a quorum without holding any meeting of the House of Representatives over the past month because of the suspension of Al-Sadr trend (30 seats) for membership in the parliament and the government, as well as the tendency towards the 176 members of the council to Saudi Arabia to perform the Hajj.

Prior to Sheikh have deployed to the campus issued an advisory opinion which the members of the House of Representatives perform Hajj who had already perform this ritual before, they will dedicate themselves to their duties in Parliament in a serious stage in the country.

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