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

Tik Tok, Tik Tok... Hmm well guess its off to bed..........NOT.

Save me NODoz......

I'm guessing Auction # will be 837.

Which would be funny as that would acknowledge a mistake on their part yesterday morning....

grrrrrr, update cbi! i want confirmation of my new wealth!!!

Originally Posted by Hope Full

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

Excellent point here Hope Full.

I have read the other day that untill initial cost of drilling has been reached Iraq would get 25% and other for foreign companies.

After that, Iraq would get 80% of wealth and foreign companies 20%. It was also stated that normally foreign companies get 10% so its double!

I also think so that a rate under the dollar isn't acceptable for Iraq!

Let's keep our fingers crossed for the coming days!

Originally Posted by kiko;157412[B

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!

No, if it goes from 1260 dinars/1 USD which is 1 dinar = 0.000794 USD to 1.26 dinars/1 USD it means that 1 dinar = 0.794 USD.

I even did a screenshot should they change it later.

Announcement No.(837)

D.G. of Foreign Exchange Control

The 837 daily currency auction was held in the Central Bank of Iraq day Monday 2007/ 1/8 so the results were as follows :
Details Notes
Number of banks 9 -----
Auction price selling dinar / US $ 1320 -----
Auction price buying dinar / US $ 1318 -----
Amount sold at auction price (US $) 9.305.000 -----
Amount purchased at Auction price (US $) 1.200.000
Total offers for buying (US $) 9.305.000 -----
Total offers for selling (US $) 1.200.000 -----

Originally Posted by bultn

No, if it goes from 1260 dinars/1 USD which is 1 dinar = 0.000794 USD to 1.26 dinars/1 USD it means that 1 dinar = 0,794 USD.

I believe that's when they are talking about "lifting off 3 zeroes".

They are stating in this article "raising 3 zeroes"!

Someone has asked it and explained it.

Here is the explanation:

"I spoke to a friend who is a professor at St. John's University in Queens NY regaring the term raising the zero's, he said all that they mean by this is improving the rate in other words if it were to reach lets say 900 iqd=1 usd, then they just raised a zero, if they reach 90 iqd = 1 usd, then they raised 2 zero's and if the rate ever goes to 1 = 1, then they raised 3 zero's"

went down 5, good but a little below my expectations

Details Notes
Number of banks 9 -----
Auction price selling dinar / US $ 1320 -----
Auction price buying dinar / US $ 1318 -----
Amount sold at auction price (US $) 9.305.000 -----
Amount purchased at Auction price (US $) 1.200.000
Total offers for buying (US $) 9.305.000 -----
Total offers for selling (US $) 1.200.000

MENAFN - Middle East North Africa . Financial Network Currency Update; Money Markets; Analysis; Projection

check out the chart friends

Originally Posted by Treater

I even did a screenshot should they change it later.

Announcement No.(837)

D.G. of Foreign Exchange Control

The 837 daily currency auction was held in the Central Bank of Iraq day Monday 2007/ 1/8 so the results were as follows :
Details Notes
Number of banks 9 -----
Auction price selling dinar / US $ 1320 -----
Auction price buying dinar / US $ 1318 -----
Amount sold at auction price (US $) 9.305.000 -----
Amount purchased at Auction price (US $) 1.200.000
Total offers for buying (US $) 9.305.000 -----
Total offers for selling (US $) 1.200.000 -----

Yep, it's down but not related to their budget of 2007 at a rate of 1260 and the rates that are elsewhere on financial sites.

Why do I have the feeling that the CBI is manipulating!

It seems to me that they are waiting for something to let the rate run, maybe the HCL this week?