May 26, 2015

News About Iraqi Dinar

Iraqi Dinar Exchange Rate

Currency Exchange News

Iraq CANNOT come out with a 50,000 or 100,000 dinar note!

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/1W_LJrxSpsY/iraq-cannot-come-out-with-a-50000-or-100000-dinar-note-312342

Delta:   I’m so excited…a lot of good news! They must have a credit rating to sell the bonds. Standard and Poors…one of the requirements to get a credit rating is that your currency MUST be international…That is a fact. …re-read what I brought in…one of the points about getting a credit rating is they must have an International currency – which is Article 8.

They must come up with a rate that is agreeable with the IMF (not 1166) – something that is agreeable for everybody. Iraq is having a BIG, BIG problem with liquidity…they have no cash in hand and they need to sell those bonds ASAP!

Let’s talk about the 50,000 and the 100,000 dinars. Iraq CANNOT come out with a 50,000 or 100,000 dinar note! …they would have to have an inflation rate of 30 to 40%. You don’t do that when your inflation rate is like 1 or 2 percent. Why would you spend the money to produce a 50,000 dinar note when you already have the same thing with just two 25,000 dinar notes?

The plan is to print 50, 100 and 200 dinar notes and introduce them to the market…but before they do that the rate has to change first! The 50 dinar note after the revaluation will be worth around $ 43. The new 50 dinar note and the 25k notes will coexist for a while. So they will come up with a 50 dinar note after they revalue (.85) after they drop the 3 zeros.

It is impossible for Iraq to introduce a 50,000 or 100,000 dinar note! If they did…no one would buy their bonds! Everyone is waiting for the rate. The window of opportunity we are studying is before Ramadan – June 17th. Iraq must be in Article 8. We know they have a holiday coming up on Wed/Thursday. In my opinion…nothing will happen this week…due to the holiday (I hope that I’m wrong)…then starting next Sunday we should start hearing something. We are very, very close.

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50,000 note to be released can’t be good news for dinar investors

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/kOigpezkrw4/50000-note-to-be-released-cant-be-good-news-for-dinar-investors-312311

Tman23:   If the CBI releases a 50,000 note that has those 3 zeros to the street… it is not a good thing…there is no way to spin it as being positive…and those who buy into the spin of it being positive are in denial. WE will have to wait and see what the CBI releases.

A 50 note with a solid block to the edge of the note after the #50 keeps us in the game …a 50,000 note that has the 3 zeros on the note is not good. …we make payments electronic… On the receipt does it say 20 note in 50k 10 notes in 25k…etc. NOPE…and if a bank for internal pay receives cash they need it for liquidity to use in daily transactions… I’m not buying into use for internal banking.

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Central Bank of Iraq to print 50 000 dinar notes

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/aQOny_cMZVg/central-bank-of-iraq-to-print-50-000-dinar-notes-311287

[unable to retrieve full-text content]The parliamentary economic and investment commission said that the Central Bank of Iraq (CBI) cannot delete the zeros due to the unstable economic situation.

Iraqi dinar recent rise against the dollar

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/5CaeksqrlCA/iraqi-dinar-recent-rise-against-the-dollar-311191

Witnessing the Iraqi currency market turmoil back to the standard high for the value of the US dollar, with the central bank policies aimed to reduce the sale of the dollar in the public auction, and speculation in the dinar witnessed recently.

And it saw the dollar against the Iraqi dinar sudden rise is the highest of its kind in two years than a thousand and two hundred dinars to about three hundred thousand dinars, the cast of the new exchange rate negative shadow over the Iraqi market trading.

He was behind the rise for many reasons, including the current year budget, which reduced the dollar selling by the Central Bank of Iraq Law, the last and the development of new mechanisms for sale through the auction, and also for asylum speculators in the Iraqi currency market to raise prices as well as the security and political unrest in the country.

Financial experts said that the rise in the dollar the country has experienced in recent times just a bubble caused by the return of speculation, as they expect to recover the dinar recovered in the near-term rise in global oil prices.

LINK

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THE IRAQ DINAR HAS A NEW INTERNATIONAL RATE?

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/1pMSAYqhkw4/the-iraq-dinar-has-a-new-international-rate-310895

[unable to retrieve full-text content]Poppy3 is expecting a rate change in the next few days.

Can we finally stop hearing about the 50 Dinar notes?

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/cZ5q_SB0OqY/can-we-finally-stop-hearing-about-the-50-dinar-notes-310557

R.J.:   Hopefully we will see things soon now that today is the 30th and we can finally stop hearing about the 50 Dinar notes after it turns May 1st this afternoon in Iraq. Then that will be one less excuse that they can use for the RV Delay.

But the April 30th-May 1st time frame is an optimal time frame for them to release the RV/GCR.

The old 50 Dinar note will be gone, it is the first of a new month for their books and accounting, and it is on a Friday, which many people have stated that Iraq has preferred Fridays historically for rate changes.

And they are off on Friday in Iraq. So many different reasons why today into tomorrow is a great time to do it.

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50 dinar note being officially demonetized

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/uaaKV1heMNA/50-dinar-note-being-officially-demonetized-310513

Kaperoni With the 50 dinar note being officially demonetized on Thursday, April 30th, we can begin to wonder if currency reform is coming soon. Several articles surfaced during the month of April indicating there is a determination to issue a 50 (50,000) and 100 (100,000) dinar notes as stated as..”a prerequisite to the deletion of zeros.” If this scenario is correct, this means the CBI is preparing for the transition. That issuing of the 100 and 50 would be the first step towards beginning to raise the exchange rate, and moving towards a currency without 3 zeros (and as stated in the articles as a “prerequisite.”…Inevitably gaining enough value to introduce even more smaller notes such as a 20, 10, 5 and 1 dinar over a period of time as the dinar rises. This scenario is what we want to happen. This would be the beginning of the restructuring of monetary policy and the dinar. This would allow us as dinar investors the greatest potential gain as Iraq’s economy prospers.

More than likely the new series of notes (once they all have been issued) will all be same size like the USA. In doing so, they work well in ATM’s, counters, etc. and will not jam. The 50 was so small it was not appropriate, didnt have security and would not fit with the new notes. It had to go. People spend way to much time trying to figure out why that 50 was demonetized. The answer was right in front of us. Now moving forward the CBI can begin with the 100, and 50 and begin to raise the value…this process will continues for a few years until the eventual introduction of the 20, 10, 5 and 1 dinar…and some fils to support the economy and new rate.

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The dinar is going to go international

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/VVSZTC_OkCo/the-dinar-is-going-to-go-international-310181

Frank 26 Abadi arrived in DC…it was a very quick visit with O [Obama]. In that process Abadi goes and talks to different departments and asks for certain things. Abadi asked for some money because originally the IMF turned him down. And we were all excited thinking that the IMF wouldn’t give Iraq any more money. Then 48 hours later they gave them some money. Abadi went back to Iraq and told Dr. Shabibi that they have a little extra time. Abadi gets chewed out…told that he is doing a good job BUT they told him to get something’s done…to convince Dr. Shabibi that he was given the green-light and unless Dr. S is colorblind what is wrong with him? The US wants this done before Ramadan! So Abadi goes back to Iraq…meets with Governor of CBI telling him to get this thing done that they gave them just enough to get thru April. There is a push from Abadi onto Shabibi and the CBI to get the MR [Monetary Reform] done. The CBI books cannot give you a date but the info leaking out is a rate. It appears to start out at .85 cents to about a dollar. That is a rate… The dinar is going to go International pretty soon …at a new exchange rate!

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CBI is trying to stop the decline of the dinar

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/JxD0h0bW6Ik/cbi-is-trying-to-stop-the-decline-of-the-dinar-308205

Kaperoni Article quote: “The CBI has decided to take action to stop the decline of the dinar against the dollar in the local foreign exchange market, by doubling the share exchange companies in the Auction of foreign exchange, and open ports to sell the dollar in a number of government banks.”

Since the CBI is suppose to be independent, and monetary policy is the responsibility of the CBI, I don’t see this as a problem. The cap on auctions placed in the budget is IMO a violation of that independence. That being said, the CBI seems to be “again” learning on the job at the expense of the exchange rate. It has also been implied that this is “planned.” Who knows? It could be and we may be in the process of seeing a disorderly exit from the peg to a float.

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CBI is trying to stop the decline of the dinar

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/JxD0h0bW6Ik/cbi-is-trying-to-stop-the-decline-of-the-dinar-308205

Kaperoni Article quote: “The CBI has decided to take action to stop the decline of the dinar against the dollar in the local foreign exchange market, by doubling the share exchange companies in the Auction of foreign exchange, and open ports to sell the dollar in a number of government banks.”

Since the CBI is suppose to be independent, and monetary policy is the responsibility of the CBI, I don’t see this as a problem. The cap on auctions placed in the budget is IMO a violation of that independence. That being said, the CBI seems to be “again” learning on the job at the expense of the exchange rate. It has also been implied that this is “planned.” Who knows? It could be and we may be in the process of seeing a disorderly exit from the peg to a float.

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