September 3, 2015

News About Iraqi Dinar

Iraqi Dinar Exchange Rate

Currency Exchange News

CONFIDENCE IN THE DINAR

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/jOBqO8fgtAI/confidence-in-the-dinar-323241

Millionday:   Article quote – “reducing the central bank sales of the dollar and make it in the field need the truth to the citizens as well as international bonds to be issued by the central bank and the $ ten million dollars will provide Iraq’s hard currency and thus will protect the Iraqi dinar from fluctuations in the currency.”

THE CONFIDENCE IN THE DINAR IS OBVIOUS AND THEY HAVE CONFIDENCE IN THE RESULTS FROM THE BOND SALES…THEY WILL BE HERE IN THE US MONDAY DISCUSSING/ PROMOTING… CBI GOVERNOR WILL BE HERE MONDAY AS WELL.

[The bonds…doesn’t the dinar need to be revalued first?]

THE BONDS THEY ARE DISCUSSING ARE BACKED BY THE DINAR SO IMO THE BEST IDEA WOULD TO HAVE A CALCULATED REALITY VALUE FOR THE DINAR BUT WE HAVE TO WAIT FOR THE INK.

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Iraqi dinar exchange rate against the dollar

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/ueKXG0ioKPA/iraqi-dinar-exchange-rate-against-the-dollar-2-322748

Follow-up – and babysit – US $ 1 = 1,146.5000 Iraqi dinars

1 Iraqi dinars = US $ 0.0009

The price in the market.

$ 100 USD = 121.400 Iraqi Dinars

LINK

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The issue of the floating the Iraqi Dinar

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/mHSnokjoZxs/the-issue-of-the-floating-the-iraqi-dinar-322574

Kaperoni:   Article quote – “Iraqi Center for Development and Media systems and in coordination with the Office of the Prime Minister workshop economic entitled (to float the Iraqi dinar and its impact on the economy)… discussed the workshop the importance of the advancement of the Iraqi economic reality and its impact on the Iraqi citizen, where participants put forward many ideas and perceptions that the Iraqi government included in the economic reform plan, including the issue of the float of the Iraqi dinar…”

It’s not new…it’s the decision that was made a few years back over the previous plan (which may have been a LOP) and to go to a more gradual appreciation as stated in the 2013 Article IV Consultation. This panel may just be reviewing the conditions, circumstances, etc to see if the timing is appropriate for the CBI to act. Who knows, but the discussion is good anyway you look at it.

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Background dinar

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/yqdaSagbYdA/background-dinar-322530

wmawhite:   Article quote – “the largest category of cash is Al25,000 dinars, which is equal to $ 22, in the case of deletion of zeros and converted to 25 dinars Vstsawi of $ 75, this process will give the larger size of the local currency and reduce the use of the dollar in the domestic market.”

…out in the communities the local shops take both the USD and IQD…they prefer the USD. Currently, the 25K is equal to $ 22.35, but the shop owners do not make change so they see the 25K note as $ 25.00. So that article was telling the citizens that they should expect to have additional purchasing power equal to $ 75.00 where it used to be only $ 25.00…additionally, they are being reminded that the large notes will gradually go away…but they will have 3 times the purchasing power. the CBI has over and over emphaized that the three zeros notes will continue to be legal tender…but has to [as the?] prices in the economy are reduced the need for the large notes go away and are replaced with LDs.

The discussion about what type of notes are used on the streets is totally different from a discussion about the yet to be announced international exchange rate. There will be one international exchange rate for the IQD which is only applicable outside the country. That will in turn determine the type and size of the note to be used in country. Folks, what you can take away from this discussion and that article is that the citizens are being told to expect changes in the currency they will use on the streets and why? Because, the IQD will be put on the world currency market and the new value of the IQD will affect the type of note they will use inside Iraq. Plain and simple. [If the IQD does float, will there be value added & then it floats or will it float from 1166? If it floats from 1166 will there be demand for the IQD at that level?] The CBI will never tell what they will do until after it is implemented. We will know the same time the rest of the world currency markets know.

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THE NEW REGULATION IS DINAR ONLY

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/1jm6OzaVBrY/the-new-regulation-is-dinar-only-322404

Millionday:   TRADE AGREEMENT WITH BRAZIL NEXT WEEK — IT WILL BE INTERESTING TO SEE HOW ITS CALCULATED ETC WITH ITS IMPACT ON RATIONS.

[I am wondering what currency they are signing the agreement in…?]

IT WILL BE IN DINAR — THE NEW REGULATION IS DINAR ONLY. THE AGREEMENT IS GREAT NEWS AND ALL THAT IS GOING ON INCLUDING THE REFORMS — BUT WE DONT HAVE A DATE OF NEXT WEEK — THIS IS WHEN THEY WILL MEET TO SIGN THE AGREEMENT — BUT GREAT NEWS –PROGRESS.

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THEY DO INTEND TO INCREASE THE VALUE OF THE DINAR

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/hXBbkHrWZGI/they-do-intend-to-increase-the-value-of-the-dinar-322074

OOTW:   I’VE BEEN ROLLING AROUND THE CESSATION OF THE TARIFFS… I CAN SEE HOW THE STATEMENTS FROM THE PM AND KEYWORDS ONLY LEND AT LEAST SOMEWHAT MORE CREDENCE TO THE FACT THAT THEY DO INTEND TO INCREASE THE VALUE OF THE DINAR AND ARE ONLY/SIMPLY BEING MORE CAUTIOUS IN THEIR APPROACH. AND I CAN ONLY SEE THAT THIS WOULD END UP LENDING MORE STABILITY TO THEIR MONETARY POLICY WHEN THEY DO DECIDE TO IMPLEMENT THE TARIFFS.

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MAKING THE DINAR STRONG

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/-4vOcT0acSQ/making-the-dinar-strong-321967

Millionday:   Article quote – “The bank has taken a series of decisions in recent weeks to stabilize the local currency after the dinar dropped against the dollar to 1,400 dinars to the dollar.”

SO REMEMBER THE 90 DAYS CBI ANNOUNCED AND THEY ARE STATING HERE THAT THEY ARE TAKING STEPS TO STABALIZE THE DINAR… THEY ARE WORKING TO MAKE THE DINAR STRONG AND GAIN CONFIDENCE…RIDDING THE COUNTRY OF USD ON THE STREETS.

[Q.  How are they ridding currency… when yesterdays auction was 352 million?]

A.  THE AUCTION IS ATTENDED BY BANKS.

[Q.  SO where does that currency go?]

A.  CBI.

[Q.  when did the 90 day announcement come out?]

A. ABOUT A MONTH AGO.

[Q.  didn’t the IMF OR the UN ..or was it world bank give a 60 day window to act? if so when was that?]

A.  YES THEY DID AND IT WAS ABOUT TEN DAYS AGO.

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A lot of buzz about a couple of major dinar dealers

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/mnx4i4h3MPY/a-lot-of-buzz-about-a-couple-of-major-dinar-dealers-321952

Adam Montana:   There is a lot of buzz about a couple of major dinar dealers getting shut down or investigated. It really has nothing to do with “dinar”. It’s about how they did business. The dinar is still NOT a scam. There is great potential for the Iraqi Dinar to rise in value, be it a little or a lot, and we all have every right to own it, hold it, and gain from it.

There’s a lot going on, and even a little excitement building amongst my closest Iraqi contacts, but as of right now – no HCL, so no RV. That’s the bottom line. In a nutshell, the IMF is actually putting pressure on Iraq to get moving, and the timeline is less than 2 months.

I’ve always said that the IMF can’t force Iraq to RV, or anything else for that matter. The CBI and GOI will do what it wants, when it wants… but this is looking like good pressure on Iraq, and that’s part of why my contacts are starting to crank up their enthusiasm.

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Why No Iraqi Dinar Revaluation Yet?

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/gxBPPoYnIdQ/why-no-iraqi-dinar-revaluation-yet-321869

Stryker:    Hi Folks. No announcement over the weekend by the CBI concerning any changes to Iraq’s monetary system, which includes their dual exchange rate system and their exchange rate in general but never the less progress is proceeding towards that path according to my research.

The last and final phase of the tariffs went into effect on Saturday as planed but the financial taxes have yet to be implemented, but they are not far behind… here’s a look today’s news on the tariffs.

Tariffs:

QUOTE: According to Director General of Customs, Major General Hakeem Jassim

QUOTE: “The law of customs tariff applied in three phases,

QUOTE: the first was on the specific types of goods,

This first phase were the luxury taxes applied on luxury goods, these started in 2013 soon after the 2010 amended law was fully passed and published in the Gazette/Law Library

QUOTE: the second more goods,”

This second phase were non-essential goods, these have been applied slowly over the last few months

QUOTE: the application of the third phase began first on Saturday, (the first of August the current 2015),

This third and final phase (are essential goods) started Saturday and on ALL GOODS, as you will read next:

QUOTE: on all goods entering Iraq.”

All goods, so IMO, the time is ticking, the urgency should be here, before the people start demonstrating in the streets because they can’t afford to live. We already see signs of protest.

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DINAR INC TERMINATES LAYAWAY & RESERVE PROGRAM

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/9NiJTiyv0Jo/dinar-inc-terminates-their-layaway-reserve-program-321846

Dinar Inc: DINAR INC HAS JUST TERMINATED THEIR LAYAWAY & RESERVE PROGRAM.

Due to recent events we are proactively suspending our layaway. Our product is completely different then our competitors (where all payments are Fully Refundable and No Customer has ever lost money) however we want to ensure we abide by all State & Federal laws.

All current or active layaways will be refunded including the layaway fee. Give us a few weeks to meet with our legal advisers to ensure we have a long term and viable product for you our customer.

Best Regards,
Robert M. Hoffman,Jr.
President

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