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

Originally Posted by South Texan

I think the people in my family and me are more nervous than anything else...but ya still excited

This must be the calm before the storm....lol... Excited yes but I also hope that we are not greatly disappointed.... be prepared....But lets hope they do what seems to be obviously the best thing for Iraq and those interested in investing in her future....REVALUE!

PS How many are refreshing the CBI exchange rate page every minute??? lol

Originally Posted by jedi17

I feel like I'm 5 again waiting for Santa to show up!!!

Conga time in the Caymens!!!!!!

A Daily Independent News Publication. Issue
387
387
جريدة يومية سياسية مستقلة -
Daily independent political -
الاثنين 8 كانون الثاني 2006
Monday, January 8, 2006
The return of official business creates busiest in the streets of Baghdad
"
Traffic has been in the ministries, departments and government institutions after the holiday of Eid Al-Adha feast, New Year and Christmas, which lasted for nine days since Friday the 29th of last month until Saturday. Eyewitnesses said on Sunday : "The streets of the capital Baghdad witnessed yesterday, the first day of the permanence of the official post-holiday dreary busiest in the Rusafa and Karkh side". He added : "There is a cautious and clear to the citizens of the security situation especially after the massive deployment of security forces and the breadth and control checkpoints, which has caused severe congestion on the streets and sub, on the other hand, it reconvened the local newspapers to be published again yesterday morning after the gains over the holidays"

Originally Posted by Pippyman

This must be the calm before the storm....lol... Excited yes but I also hope that we are not greatly disappointed.... be prepared....But lets hope they do what seems to be obviously the best thing for Iraq and those interested in investing in her future....REVALUE!

PS How many are refreshing the CBI exchange rate page every minute??? lol

me

well we saw 837, then they switched it back to 836. I wonder if the update will be 837, or 838?

Originally Posted by Treater

well we saw 837, then they switched it back to 836. I wonder if the update will be 837, or 838?

I imagine they are going to go with 837 since they are "officially" on 836 now.....

No CBI update yet!




Arkie.

No CBI yet!

Hmmmm, just waiting!

Originally Posted by bubbajr

Iraq could open oil reserves to foreign firms

Sun Jan 7, 11:02 AM ET

LONDON (AFP) -
Iraq is preparing to allow foreign companies to exploit its oil reserves, according to a British newspaper report that cited a draft law expected to come before the Iraqi parliament.
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The Independent on Sunday report says the US government has been involved in drawing up the law through a consultancy firm.

The early draft, circulated in English to oil companies in July 2006 and leaked to the newspaper, would offer oil companies vastly better terms than the industry norm for investing in the war-torn country.

The production-sharing agreements (PSAs) would allow oil giants to sign 30-year contracts for extracting Iraqi oil.

Under PSAs, the state retains legal ownership of its oil but gives a share of the profits to companies that invest in infrastructure and in operating the wells, pipelines and refineries.

The Independent on Sunday said that under the draft law, oil companies could recoup 60 to 70 percent of revenue until initial costs had been recovered, which compares to around 40 percent usually, the newspaper said.

They will not RV for any thing less than a dollar 30 year contracts there going to get the best value they can. when I read this to my husband he jokingly said yeah there not going RV. Wink Wink

Here is the article again from yesterday for everybody that missed it, because yesterday the link wasn't working or they changed it or it was gone suddenly.

Building on the policy of the Ministry of Finance : the exchange rate of the dinar would arrive at 1260 per dollar
Mohsen Al-Gabri - 06 / 01 / 2007-17:07

According to relevant information markets currency and the Ministry of Finance that the final decision taken by the Ministry of Finance is planning firmly to communicate the value of the Iraqi dinar to 1260 dinars compared to the American dollar, and the dinar rate of exchange has started improving and steadily since the beginning of the Minister of Finance of its new policy aimed to improve the currency exchange and reducing inflation rates in order to raise the zeros by increasing rents financial staff, and the Iraqi dinar ranges purely between 1470 and 1480 before three months that began the path towards gradual decline.

Link: Translated version of http://www.burathanews.com/index.php?show=news&action=article&id=13578

As far as I have understand it, the term "raising 3 zeroes" means if the rate will be 1260:1 and they raise the zeroes the rate will be $1.26!

Someone on the other forum had asked the term to a professor which explained it like this!

Maybe WM.Knowles can confirm this or other economic brains!

Anyway, it must be something good!