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

Originally Posted by Par77

21-12-2006, 10:52 AM - [add post to favorites]
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Default Question??
ANOTHER QUESTION:

If the ISX goes international in APRIL, 2007 as indicated by their response to Inscrutable's inquiry (below) does this mean that a revaluation of the currency must wait and go hand-in-hand with the ISX's entry into the international trade or can the RV happen independently (months) ahead of the ISX joining the "world operations"?

Inscrutable's Inquiry
Dear Sir,
Thank you for your time.
When do you expect the ISX to be indexed with the Dow Jones index n the United States. Is the Investment law hindering this move?
Thank you.

Reply from the ISX CEO
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

He said sometime after April 2007!

This also, is when the new SDR rates are published!

The dollar exchange rate against Iraqi dinar is stabile for the first time in two months

January 01, 2007

The demand for the dollar recorded a slight fallback, hitting six million and 665 thousand dollars against seven million and 300 thousand dollars last Wednesday.

The purchase orders distributed between five million and 925 thousand dollars in cash and 730 thousand dollars in the form of remittances to abroad; the bank fully covered them at an exchange rate amounted to 1325 iraqi dinar.

On their part, the six banks participating in the auction made offers to sell the dollar hit 730 thousand dollars bought by the bank in full at an exchange rate reached 1323 iraq dinar.

The economic and industrial expert, Abdul Razzaq Sadiq Al-Abayachi, described in a statement the stability of the exchange rate as a positive indication that will allow the market to restore its health and mend the damages caused by the daily and frequent drop of the exchange rates which caused transactions to lose credibility.

Al-Abayachi pointed out that the long holiday the auction will have for more than a week because of Eid Al-Adha, will allow much of the smooth circulation, without risks of the decline of the currency, and the settlement of a number of trade deals.(Source)AlSabah

Sorry if this has been posted before.


(01-01-2007) Iraqi Central Bank expecting budget deficit in 2007.

An official at the Iraqi Central Bank expected a deficit in the next-year budget due to pumping dollars into the local market, to preserve the stability of the iraqi dinar exchange rate.

Head of the Department of Statistics and Research at the "Central", Madhar Mohamed Salih, declared that the new budget will exchange allocations by the dollar, pointing out that the rise in the value of the iraqi dinar had a positive impact through limiting expenditures, to reduce inflationary pressures in the Iraqi economy and reduce costs on prices.

He pointed out that 95% of the budget incomes depends on oil revenues, as a basic resource for the country, pointing out that the coming conditions will be encouraging for lifting the value of the iraq dinar against the dollar, but could not determine the rate of exchange only after starting the work by the general budget.

The iraqi dinar continued to rise against the dollar during the auction of the "Central", at a sale price of 1352 iraq dinar last Sunday, compared to 1360 iraqi dinar last Thursday. The expert at the "Central", Majid Assuri, expected a remarkable improvement in the rate of the iraqi dinar, due to the low dollar exchange rate, over the next couple of months. The last rise in the rate of the Iraqi dinar against the dollar exchange rate was in 1995, but then the exchange rate stabilized between 1400 and 1700 iraqi dinar to the dollar.

The "Central" attributed the high rate of the iraqi dinar against the dollar, to the stability in the sale of the dollar below its real exchange rate. Assuri explained that the inflation suffered by the economy now is a price inflation, and not a monetary inflation, pointing out that the aim of the "Central" is to limit the effects of the monetary inflation. As for the price inflation, it is due to the lower commodity presentations, and to the greedy who exploit the circumstances through which Iraq is going. He expected a significant improvement in the rate of the iraqi dinar, and the drop in prices according to this improvement.

We are having database error again. Just keep clicking and coming back. Marek has been sent message.

Originally Posted by bubbajr

Sorry if this has been posted before.


(01-01-2007) Iraqi Central Bank expecting budget deficit in 2007.

An official at the Iraqi Central Bank expected a deficit in the next-year budget due to pumping dollars into the local market, to preserve the stability of the iraqi dinar exchange rate.

Head of the Department of Statistics and Research at the "Central", Madhar Mohamed Salih, declared that the new budget will exchange allocations by the dollar, pointing out that the rise in the value of the iraqi dinar had a positive impact through limiting expenditures, to reduce inflationary pressures in the Iraqi economy and reduce costs on prices.

He pointed out that 95% of the budget incomes depends on oil revenues, as a basic resource for the country, pointing out that the coming conditions will be encouraging for lifting the value of the iraq dinar against the dollar, but could not determine the rate of exchange only after starting the work by the general budget.

The iraqi dinar continued to rise against the dollar during the auction of the "Central", at a sale price of 1352 iraq dinar last Sunday, compared to 1360 iraqi dinar last Thursday. The expert at the "Central", Majid Assuri, expected a remarkable improvement in the rate of the iraqi dinar, due to the low dollar exchange rate, over the next couple of months. The last rise in the rate of the Iraqi dinar against the dollar exchange rate was in 1995, but then the exchange rate stabilized between 1400 and 1700 iraqi dinar to the dollar.

The "Central" attributed the high rate of the iraqi dinar against the dollar, to the stability in the sale of the dollar below its real exchange rate. Assuri explained that the inflation suffered by the economy now is a price inflation, and not a monetary inflation, pointing out that the aim of the "Central" is to limit the effects of the monetary inflation. As for the price inflation, it is due to the lower commodity presentations, and to the greedy who exploit the circumstances through which Iraq is going. He expected a significant improvement in the rate of the iraqi dinar, and the drop in prices according to this improvement.

yes we have seen this one but its one I can read over and over again so thank you

Originally Posted by goldraker

He said sometime after April 2007!

This also, is when the new SDR rates are published!

Folks do you really think that the man from Warka is telling the truth here? He's certainly NOT going to say January 7th and add to the current wave of speculation going on, and if April 7th is the real reval date He's not going to be liable for revealing that either. See in the rumors thread:25 to 1 by Jan-my post #12, item #3 where the man who worked in the Irish foreign exchange states "If it comes out you will be put in jail for the rest of your life for the leak".IMO they cannot wait this long to reval because of the pressure of the street rate that Knowles has talked about today plus all the news and other issues discussed here the last few days.

LEADING STORY

Central Bank Anticipates Deficit in Iraq’s 2007 Budget

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 - Leader in Emerging Market Premium Business Information

anyone seen the full story?
I did a search to see if someone had posted it but didnt find it...

IQD/USD 0.0007926 1,261.60

دار الØ*ياة - Dar Al Hayat

____________________________________

Monday, January 1, 2007

1 US Dollar = 1382.80 Iraqi Dinar
1 Iraqi Dinar (IQD) = 0.0007232 US Dollar (USD)

Learn about the new Iraqi Dinar
Median price = 1261.50 / 1382.80 (bid/ask)
Minimum price = 1261.50 / 1382.80
Maximum price = 1261.50 / 1382.80

FXConverter - Currency Converter for 164 Currencies

Abdulhamid wrote : On Monday, 01 January 2007-5:21 PM BT

عدنان الدليمي يبحث مع رئيس برلمان كردستان عملية المصالحةAdnan Al-Dulaimi discuss with the President of the Parliament of Kurdistan reconciliation process
من عبدالحميد زيباريFrom Hamid Zebari
اربيل-(أصوات العراق)Arbil - (Voices of Iraq)
A statement by the National Council of Iraqi Kurdistan today, Monday, Adnan Al Dulaimi, head of the Iraqi Accord Front visited today the National Council of Iraqi Kurdistan and discussed with the Chairperson of the process of national reconciliation.
."The statement added that received news agency (Voices of Iraq) independent copy of today, "Adnan Mufti, head of the Kurdistan Parliament discussed with Al-Dulaimi and his accompanying delegation developments on the Iraqi political scene and Almahalawat conducted for the success of the process of national reconciliation and reunification of the Iraqi political forces."
The statement pointed out that "the two sides said that such meetings would continue to ensure the success of the political process in Iraq."
The delegation of the Iraqi Accord Front yesterday visited the city of Sulaymaniyah and met with Iraqi President Jalal Talabani.

Bush remarks on the execution of Saddam By The Associated Press
Sat Dec 30, 12:01 AM ET



Statement of President Bush on the death by hanging of Saddam Hussein, as provided by the White House:

ADVERTISEMENT

Today, Saddam Hussein was executed after receiving a fair trial — the kind of justice he denied the victims of his brutal regime.

Fair trials were unimaginable under Saddam Hussein's tyrannical rule. It is a testament to the Iraqi people's resolve to move forward after decades of oppression that, despite his terrible crimes against his own people, Saddam Hussein received a fair trial. This would not have been possible without the Iraqi people's determination to create a society governed by the rule of law.

Saddam Hussein's execution comes at the end of a difficult year for the Iraqi people and for our troops. Bringing Saddam Hussein to justice will not end the violence in Iraq, but it is an important milestone on Iraq's course to becoming a democracy that can govern, sustain and defend itself, and be an ally in the War on Terror.

We are reminded today of how far the Iraqi people have come since the end of Saddam Hussein's rule and that the progress they have made would not have been possible without the continued service and sacrifice of our men and women in uniform.

Many difficult choices and further sacrifices lie ahead. Yet the safety and security of the American people require that we not relent in ensuring that Iraq's young democracy continues to progress

AND TO ADD A BIG FAT REVAL OF THEIR CURRENCY WOULD ALSO BE WONDERFUL!
SARAH