Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.
Word for the day…
Numbers 6:24-26 (NKJV)
24 “The Lord bless you and keep you;
25 The Lord make His face shine upon you,
And be gracious to you;
26 The Lord lift up His countenance upon you,
And give you peace.”’
Heavenly Father, Thank You that You are the God of Peace! Thank You for blessing us! Thank You for all of Your blessings! We are so grateful and thankful 🙂 In Jesus Name, Amen.
Mrs. BGG
Iraqi Dinar/Dollar auction (most recent listing) 01-03-15
Currency Auctions Announcement No. 3107
This daily currency auction was held in the Central Bank of Iraq on the 01-03-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 26 |
| Number of remittance companies | 19 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 153,336,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 153,336,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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However beautiful the strategy, you should occasionally look at the results. – Winston Churchill
*** Current News ***
Enorrste: There are a few things that we must remember before we go off the track…
1) The first is that the official policy of the CBI and the IMF is to move to a floating dinar.
2) Second is the fact that both the CBI and the IMF expect the value of the dinar to rise, not fall, when it moves to a float.
3) The third fact is that Saleh stated unequivocally that the recent change in the exchange rate from 1166 to 1182 (or 1190) is NOT a devaluation of the dinar but IS an ADJUSTMENT in preparation for something else.
4) The fourth is the fact that there is a liquidity crisis in Iraq caused by the hoarding of up to 70% of all of the dinars in mattresses.
5) Now, finally, this fifth element is coming into play. This adjustment will, in my opinion, cause the locals to unload their paper dinars, most likely for dollars. This is a short term move, in my view, done specifically to draw out the dinars so that they can be destroyed.
Once the dinars start to come out of the mattresses the CBI will destroy them, thus reducing the money supply. Some will be exchanged for the new 50k notes, but the vast majority will be destroyed. With the destruction of money there will be upward pressure on the value of the dinar itself and this short term “issue” will have served its purpose (getting the money out of the mattresses).
This is why Saleh has called it an “adjustment” instead of a “devaluation.” It is a short term ameliorative to draw out the paper so that it can be destroyed.
Bottom line: everything is still on tract as planned by the IMF/CBI.
Therefore, this is not the change in monetary strategy. It is only an adjustment. The change in monetary strategy will come when the CBI announces a move from a fixed rate dinar to a floating dinar. I won’t be surprised if we see this within the next 60 days.
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wmawhite (Dinar Guru) – I will repeat myself, “what do we know as fact?” Answer…the International Monetary Fund (IMF) two months ago…”he stressed that Iraq will return to economic market during the first half of next year (2016).” …there are no smoke and mirrors…it is just everyday life as the IMF is taking Iraq by the hand and fixing problems internal to the CBI and GOI. [I guess we are at the mercy of the IMF now?] We are at no one’s mercury…this is about Iraq and their future. We are here hoping to make a profit off of their good fortune.
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Enorrste (Dinar Guru) – Article quote: “fear the economic and financial circles Iraqi that leads the Iraqi Central Bank’s decision to reduce the value of the dinar against the dollar as of yesterday” the article confirms…This move is a short term strategic move, not a devaluation. I particularly liked the fact that the article states quite clearly that any talk of a devaluation is “baseless.”
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rcookie (Dinar Guru) – [… your opinion on the dinar starting out at its present rate and floating up on demand as people invest…is that possible?] I DO NOT BELIEVE THE CURRENT SUPEFICIALLY IMPOSED RATE WILL BE THE STARTING POINT OF A FLOAT.
“Round Table” Dinar Call!!
“for Dinar News – that MATTERS!!”
from Monday 12/21
Smart phone user link – Click here
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President of the Republic Fuad Masum approves budget bill
President Fuad Masum, on Sunday, the Federal Budget Law No. 1 of 2016, amounting to 105 trillion dinars and a deficit of up to 24 Trliuna, according to a presidential statement. The statement quoted the official spokesman for the Presidency of the Republic Khaled Huani, saying that infallible ratified on Sunday the Federal Budget Law No. (1) for the current year, indicating that the President of the Republic stressed the “importance of adhering to adjust unnecessary expenses and taking into account the low-income social strata service and provision of basic services in this emergency situation through which the country.”
He added Huani “The president renewed his thanks and appreciation for all the efforts that have contributed to the preparation of the budget, study, review and discussion and enacted a project, whether in the government or in the House, or in the media, which role was vital in all these stages.”
The Iraqi Council of Representatives passed in (17 / 12/2015), and an absolute majority, the federal budget law for 2016, which amounted to 105 trillion dinars and a deficit up to 24 trillion dinars, the adoption of the price of a barrel of oil dollars to 45. In turn, directed the General Secretariat of the Council of Ministers, “Finance and Justice, Planning and Construction and Housing organized draft Ministries appeal to the Federal Supreme Court in the amendments made by the House of Representatives on certain paragraphs of the general budget for the year 2016 “.
The Secretariat said in a statement it adopted in directed” the Council of Ministers Resolution No. 430, which provided for the formation of a committee headed by the Undersecretary of the Ministry of Finance and the membership of representatives from the Ministries of Justice Planning and Construction and Housing, Advisor to the Prime Minister for Economic Affairs, and a representative of the Legal Department of the General Secretariat of the Council of Ministers, in addition to the heads of the relevant departments in the Ministry of Finance shall reconsider the amendments made by the House of Representatives on the texts of the draft federal budget for fiscal year 2016 Act materials, or add new material, and submit its recommendations to the Minister of Finance. “The statement added that the Secretariat,” the text of the resolution also authorized the Prime Minister to provide the power to appeal to the Federal Court paragraphs which are brought out of the Committee’s recommendations. ”
http://rudaw.net/arabic/middleeast/iraq/030120164
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http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
(Please note – we are posting daily News Articles slightly differently now)
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Parliamentary Energy: oil and gas law will reach parliament this month
Baghdad – INA / A member of the Commission on oil and energy parliamentary, beauty Panthers, Sunday, continuing disagreements political blocs legislation on oil and gas law, expected arrival at the Parliament of the government during the month.
Joker and said the “Iraqi news agency”, that “all outstanding problems between the Kurdistan Alliance and other alliances have been resolved once and for all, but the oil and gas law, which is still pending until the moment.”
He added that “there is substantial negotiations are in full swing in order to resolve the enactment of the law after receiving the Council of Ministers during this month.”
He pointed out that “the enactment of the law will ensure the right of the provinces producing oil and gas in the coming budgets without entering discussions and speculations on the legislation.”
http://www.iraqnewsagency.com/%D8%A7%D9 … %B3%D9%8A/
“Round Table” Dinar Call!!
“for Dinar News – that MATTERS!!”
from Sunday 11/29
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Economist: Replace the currency and the deletion of zeros is an important step for monetary reform
The adoption of the monetary authority decision in the process of replacing the currency on the approach to costs and benefits, as a change of the Iraqi dinar and the deletion of zeros is an important step on the road to monetary reform, and the reform of the currency management system through structured to control the flow and management of the cost of the money supply in a manner optimized and using a form «Mosley» the most comprehensive, which does not stop at the borders of the costs and benefits but includes economic, social and political environment variables.
He said economic expert d. Abdul-Hussein Abdul Jalil Ghalibi according to »Sabah» that “ideas can be raised in this area, from the process of deleting the zeros and replace currency terms would be too costly to the Iraqi economy and society, from the cost lawsuits and compensation, as well as support the economy commissioned during and after the process substitution.
He stressed that no one denies that the process of changing the dinar require the costs to complete, but the discussion of these costs come from several directions, the first being to maintain the dinar generates community ongoing costs in accounting and procedural fields of counting and sorting, storage and others.
He explained that “these costs could be saved when changing currency and reduced to a minimum, and the second direction that is secreted by the costs is the issue of paper currency printed and punching the coin, and here it can be said that the huge number currently in the Iraqi economy, which amounts to 4 billion paper needs to operations replace the damaged and torn and consumed him for the papers.
And that old deliberative banknote no more than ten years, but it is in heavy use conditions as is the case in Iraq, which hit the currency in circulation to the proportion of the money supply which about 90 percent of the old could be up to five years.
He said therefore, these costs are already unspent along with the replacement will reduce the number of banknotes issued to the gain of 70 percent from the previous issue, and therefore the costs also will be reduced by more than this percentage because the old Deliberative new paper will be longer than the previous two reasons. First, the coins will reduce the burden of Use them, and that large banknotes will be used less speed.
Ghalibi He said that the second reason is that the quality of the paper better and more tolerant than the current paper, which was issued in 2003, the mission of the developments that have occurred in the field of printing money. The reference to the cost of compensation suits have nothing to do with the process of replacement as well as support the economy also cost nothing to do with this, as the government support of economic activity is affected by the process of changing the currency because what determines the amount of support and trends are within the government’s fiscal policies.
He explained that the change of currency and the deletion of zeros does not reduce the source of paper, and with the relevance of this opinion and his health, what is taken it is that the currency (the dinar) does not stop the replacement limits of the same categories, but will be issued the largest monetary categories so that the total number of papers will reach 1.18 billion paper instead of 4 billion paper, number of leaves, which significantly reduces the side to increase the range of categories used not only from the top but from the bottom to issue coins.
Read More: http://www.dinarupdates.com/showthread.php?27896-Economist-Replace-the-currency-and-the-deletion-of-zeros-is-an-important-step
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1291.453 | 1290.807 |
| British pound | GBP | 1750.542 | 1749.667 |
| Canadian dollar | CAD | 851.340 | 850.914 |
| Swiss franc | CHF | 1193.337 | 1192.740 |
| Swedish krona | SEK | 141.516 | 141.445 |
| Norwegian krone | NOK | 134.303 | 134.236 |
| Danish krone | DKK | 173.060 | 172.973 |
| Japanese yen | JPY | 9.809 | 9.804 |
| Special Drawing Rights |
SDR | 1639.269 | 1638.449 |