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.
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Iraqi Dinar/Dollar auction (most recent listing) 05-10-16
Currency Auctions Announcement No. 3195
This daily currency auction was held in the Central Bank of Iraq on the 05-10-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 26 |
| Number of remittance companies | 12 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 98,756,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 98,756,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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The Exchange Rate of Foreign Currency in Economic Feasibility Studies
Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
Estimate the shadow price of foreign currency:
1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.
The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.
* What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:
- Export-outputs.
- Outputs marketed locally that substitute imports.
- Imported inputs.
- Inputs produced locally that usually go to exports.
- Foreign labor.
According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.
In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).
In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.
2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.
The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:
- The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
- The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
- The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
- The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
- This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.
And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.
3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
Read More: http://www.dinarupdates.com/showthread.php?18519-The-Dinar-Daily-Monday-May-9th-2015&p=128477#post128477
This was for the IDIOT trying to tell me there was NO LEGITIMATE info available on the Iraqi Dinar – but that the Iranian Rial was a GOOD INVESTMENT.
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“Round Table” Dinar Call!!
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from 4/21 – @ 6:00pm CST
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Obeidi Looking preparations for the liberalization of Mosul and Fallujah
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firefly – Article: “Rasheed Bank grants loans of up to 20 million for the operation of small businesses” …it definately helps their economy…And more confirmation that Rasheed bank is ready! [I think May is a great month.] Will be an extremely interesting month and one to watch closely!
Read More: http://www.dinarupdates.com/observer/
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The House of Representatives will reconvene next Tuesday
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Frank26 – We are in the process of entering the … RI.
Read More: http://www.dinarupdates.com/observer/
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Deputy for the Liberal calls for Maliki to be outside the political process and “behind bars”
MP for the Liberal bloc Majid al-Gharawi, on Friday, that the cause of the dropping of four Iraqi provinces, however, the organization “Daash” terrorist, referring to Nouri al-Maliki should be outside the political process and “behind bars.”
Gharrawi said in an interview that “the cause of dropping the four provinces, however Daash terrorist and brought the country to what it is now because of the wrong Ssayasth, you must be outside the political process.”
He Ghraoui, “you should have this person (al-Maliki) behind prison bars, in order to pay for what he has done and the work is supported by the burdens of politicians.”
The head of the so-called coalition of state law, Nuri al-Maliki on Thursday to keep the Sadrists from the political process for his followers to storm the Green Zone and the House of Representatives on Saturday.
Maliki said in his page on the social networking site Twitter, that “those who attacked the legitimacy of the state represented by the Parliament should not have a position in the political process unless they come back to their senses,” referring to the Sadrist movement, which called for sit-ins and demonstrations near the Green Zone and evolved into demonstrators storming of the area and enter parliament.
Maliki said that “the situation in the mercurial attitudes and live for the benefit and leadership are brought the country to this case.” According to him.
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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Zamili describes al-Maliki a man of “despicable” !!
Orbit News – Chairman of the parliamentary security and defense, said the former prime minister Nuri al – Maliki man “light – hearted” He does not know how to lead the state and lost Bzmenh third area of Iraq unless it is a time of happening any former commander.
Zamili said in a press statement, said that “al – Maliki , a nervous man and a light – hearted and was bad in the state administration and cause a great many problems and was unable to win the opponents adopted the style of mistrust and intimidation.”
He added that “the Sadrist movement may not be able to control the revolution of the hungry against the corrupt and the corrupt and those who are trying to distort the image demonstrations and sit – ins and all activity abort attempts to rob and rape of Iraqi territory.”
Read More: http://www.dinarupdates.com/showthread.php?34281-Zamili-describes-al-Maliki-a-man-of-quot-despicable-quot-!!
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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 | 1346.889 | 1346.216 |
| British pound | GBP | 1707.281 | 1706.427 |
| Canadian dollar | CAD | 909.651 | 909.196 |
| Swiss franc | CHF | 1219.185 | 1218.576 |
| Swedish krona | SEK | 145.152 | 145.079 |
| Norwegian krone | NOK | 144.315 | 144.243 |
| Danish krone | DKK | 181.050 | 180.959 |
| Japanese yen | JPY | 10.990 | 10.985 |
| Special Drawing Rights |
SDR | 1671.525 | 1670.690 |