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

Originally Posted by readytogo

RODNEY, I had to hit the sack last nite and did not see your explaination of spread till this morn. Thanks so very much.

Do you or anyone else out there in dinar land figure that this cost would be comparable to exchanging let's say the euro or pound? Or are the circumstances too different?

regarding your question, yes. it will be exactly the same when exchanging the dinars. Atleast what i have heard.

regards
John

Originally Posted by Raditz

regarding your question, yes. it will be exactly the same when exchanging the dinars. Atleast what i have heard.

regards
John

Thank you very much!

Monica

Hi Monica,

Don't worry, the only fee most major banks charge customers is a few dollars, nothing to be concerned about, and it will be the same fee for all currencies, so whichever bank you have an account with, pull up their exchange department and get list of fees. It will be listed somewhere on their site unless they are a real small bank without exchange department. (g)

Good luck to all, Mike

Originally Posted by Offshore-Wealth.com

Hi Monica,

Don't worry, the only fee most major banks charge customers is a few dollars, nothing to be concerned about, and it will be the same fee for all currencies, so whichever bank you have an account with, pull up their exchange department and get list of fees. It will be listed somewhere on their site unless they are a real small bank without exchange department. (g)

Good luck to all, Mike

Thanks Mike. Everyone here is such a help.

Monica

I came across the following article. I think it's good news??? Perhaps Mike, Adam(if he's back yet, or anyone else) can dechiper this article for me lol.

Noozz Editorial ( http://www.noozz.com/Iraq/ViewArticl...ticleId=163775 )
Jul 3 2006

Several newspapers announced last week that Iraq’s Ministry of Finance and Central Bank are evaluating a proposal to raise the Iraqi dinar’s value to match it with the American dollar. The news drew strong attention from the banking and commercial sectors as well as the citizens at large.

In an interview with Iraqi newspaper Al-Sabah, Minister Bayan Al Zubaidi said he suggested to Iraq’s Central Bank Governor Sinan Al Shibibi that “three zeroes” be taken from the value of the dinar to bring to level with the US dollar. Al Zubaidi stated that this proposition has gained the approval and support of the World Bank. He added that a meeting would be held this month to discuss the dinar value raise which would include specialists from the Ministry, the Central Bank of Iraq, and the Commercial Bank.

The news attracted attention and sparked worries of instability that could result in the trade sector and elsewhere. The commissioner of Credit Bank of Iraq, Fouad Al Hosni, said to Al Mo’tamar newspaper that such a matter was good for the Iraqi people’s sentiments but he also posed the question, “is the national economy currently capable of moving to a phase of equating the dinar with the Dollar?”

Zuheir Al Hafez, Commissioner of Ashur International Bank for Investment, agreed with Al Hosni. “The Minister’s suggestion requires cautious appraisal taking into consideration that the country’s security condition makes the economy more volatile and less capable of absorbing disturbances to commercial transactions that may result if the suggestion was not carefully evaluated,” he said.

Another voice from the banking sector, Badee’ Al Fikry, the Deputy Manager of the Basra Private Bank for Investment, wondered if the reduction of national debt and the increased liquidity due to rising oil prices were enough justification to taking such a decision. He added however that, “the important matter is to analyze the possible outcomes of equating the dinar with the dollar and how to rectify any deficiency that could result in transfers of merchants and banks.”

I don't recall ever seeing this article posted in here but if it has then I apologize in advance for reposting old news lol. I don't have access to that website where it came from so I couldn't see the 'date' of the article.

Adam, I hope that you and your family made it back home safely or are on your way home safely now!

Cheers all,

Rob

Rob you are fast, lol

hahaha Raditz, looks like I beat you to that article for once eh lol.

Cheers all,

Rob

Ohhhh thanks Raditz, I see you must have read my post before I edited it with the actual article. I found it on another forum lol. Thanks for posting the full thing for me though. Is this article good news ?

Cheers all,

Rob

Originally Posted by Raditz

I found this on cnn; Sanchez said that British and Romanian consular officials had arrived to help in the identification process, but there was no confirmation so far of any foreign nationals dead in the accident.

Im sure he is okay!

I hope you're right Raddie! I was just SICK when I PM'ed Neno. I didn't know if the subway is the 'main' form of transportation in Spain...like in NYC people mostly use the subway or taxi's. Neno didn't think that Adam would be on a Subway so that made me feel better.

The newspaper said this morning there were no reports of any British people on the train.