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…
Mrs. BGG
Iraqi Dinar/Dollar auction (most recent listing) 08-30-16
Currency Auctions Announcement No. 3270
This daily currency auction was held in the Central Bank of Iraq on the 08-30-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 30 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 125,837,738 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 125,837,738 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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BGG (Dinar Guru) – “The World Bank expressed its readiness to support the Iraqi government financial funding without conditions in order to support its reform program which was approved by the House of Representatives …” “it’s reform program...” – already approved by the HoR? what are they talking about? [Looks like they know what we don’t.] that’s exactly what it looks like…and in light of the MoP “printed plan” from 2012/2013…looks like “back to Plan A”…BTW – MoP (Iraq Ministry of Planning) “printed plan” from 2012/2013 = IQD worth 1.13 USD for approx. 3 years…
Read More: http://www.dinarupdates.com/observer/
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Mr White & Hutch
from 8/25 – Smart phone user link – Click here
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BGG (Dinar Guru) – …once they step across that “currency threshold” moving towards a “singular currency regime” – the logical solution is for the IQD to be “on par” with the USD (which they are currently using)…you do realize what I just said – RIGHT? the IQD is widely regarded as “GROSSLY UNDERVALUED”… by noted world economists… for them to move to a “single currency” there needs to be some parity once they do so…they can’t come right out and say what it is they really mean (or convey their true intentions)… but this is looking inevitable. [post 2 of 2]
Read More: http://www.dinarupdates.com/observer/
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Standard & Poor’s sustains ratings on Iraq at ‘B-/B’
(IraqiNews.com) Baghdad – Standard and Poor’s financial services company has affirmed the ratings of Iraq at ‘B-/B’ with stable outlook.
S&P stated that the stable outlook incorporates expectation that the large budget and external deficits could be financed, and the conflict with ISIS will be contained.
Standard & Poor’s also predicted Iraq’s real GDP growth to fall below 2% in 2017-2019 due to the negative effects of fiscal consolidation and weak domestic demand.
RCookie: THIS IS THE NEWLY FAMOUS ARTICLE 14 FROM THE 2016 IMF MEMORANDUM ON ECONOMIC & FINANCIAL POLICIES..THAT WE DISCUSSED ON MOST RECENT CALL….
“14. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate. As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB Table 5), as recommended by a recent technical assistance mission of the IMF. As a second step, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for their clients’ legitimate travel expenses will be able to obtain the required amount above these limits on the basis of appropriate documentation. The CBI will make the public aware of such a policy by explaining it through a press conference and on its external website…”
RCookie: AMENDMENT OF INVESTMENT LAW……OR…..THE CBI WILL ISSUE CLARIFYING IMPLEMENTING REGULATIONS TO REMOVE THE LIMITATION ON TRANSFER OF INVESTMENT PROCEEDS THAT GIVES RISE TO AN EXCHANGE RESTRICTION..AS RECOMMENDED UNDER RECENT IMF TA REVIEW…
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BGG (Dinar Guru) – I cannot see how anyone is actually following the financial details of this thing and not be thoroughly EXCITED about where we are (finally!)…One point that gets missed alot – they have signed deals and agreed to remove and adhere to a more “international standard” regarding their internal MCPs… (…”multi-currency practices”)… THIS IS HUGE… MCPs coming to an end…this is a big point in their whole “economic reform package” – it is a complete overhaul… MCPs and currency being only one point of the program…even until recently – they are still (or have been) operating under some odd MCPs. The WB and IMF doesn’t like it…they have agreed to change – are taking direct action and have taken on breath-taking reforms daily…it’s happening before our very eyes…and my final thought is this… [post 1 of 2….stay tuned]
Read More: http://www.dinarupdates.com/observer/
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Reports: secret negotiations conducted by the United Nations to resolve the Justice and Accountability Act
BAGHDAD – Iraq Press – August announced a senior political source in the National Alliance that secret negotiations conducted by the United Nations with the leaders of the main political blocs to end the dispute regarding the accountability and justice law in preparation for submission to parliament for a vote.
The source added, in a statement to the newspaper (life) that “the talks under the auspices of the United Nations office in Baghdad to end the dispute in some paragraphs of the Accountability Act, which faces strong opposition from a coalition of state law and the Sadrists and the Virtue Party and the Badr Organization, who consider that the law allows for the figures in the party Baath political participation. ”
The source pointed out that “the National Alliance seeks to ensure that the non-participation of Baathists, but a coalition of Iraqi forces calls for transforming the ablation profile to justice instead of having a partisan institution oversees the work of the ablation may target certain parties to blackmail before each election held in the country.”
The source added that “the coalition is determined to not return the Baathists, even those who have not stained their hands with the blood of Iraqis or did not commit inhuman crimes, to the political arena and assume positions in the government, with powers Union believes that the return offered the greatest opportunity to achieve national reconciliation in the country.”
For his part, the Legal Committee Member of Parliament Salim Shawki told the newspaper that “disagreements exist in the draft law concerning the inclusion of Baathists retirement or their term of government positions,” stressing that “the postponement of the ongoing vote on Justice and Accountability Act is due to hold the National Alliance and the Union of Forces their positions regarding the granting of concessions to Baathists who did not commit a crime or violation against the people. ”
Read More: http://www.dinarupdates.com/forum.php
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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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DU NEWS RECAP by RCookie
(from) THURSDAY AUGUST 25th, 2016
SECURITY
JOINT OPERATIONS CONFIRM FULLY EDITED QARRAYAH AND IRAQI FLAG RAISED OVER THE BUILDINGS…INTERNATIONAL COALITION CONDUCTS 14 SORTIES ON ISIS IN IRAQ & SYRIA…36 ISIS ELEMENTS KILLED ON IRAQI AIRWAYS RAID AND ISIS POLICE HEADQUARTERS DESTRUCTION IN MOSUL…ABADI & SYRIAN FOREIGN MINISTER MEET TO DISCUSS SECURING THE BORDER BETWEEN THE 2 COUNTRIES…ISF ANNOUNCES KILLING OF AL-BAGHDADI AIDE ABU HAMZA UZBEK…ISF JOINT COMMAND ANNOUNCE 1300 ISIS ELEMENTS HAVE BEEN KILLED IN KHALIDIYAH ISLAND SINCE BEGINNING OF OPERATION…IRAQ RECEIVES SECOND DELIVERY OF CZECH L-159 FIGHTER AIRCRAFT SINCE NOV 2015 TO BALSD AIRBASE NORTH OF BAGHDAD WITH 31 IRAQI PILOTS TRAINING FOR THE 15 TOTAL AIRCRAFT THAT WILL MAKE UP THE FLEET…
GENERAL
ABADI ASKS LEADERS OF NATIONAL ALLIANCE TO STOP IRAQI-ARAB INFLAMMATORY STATEMENTS… AWAD AL AWADI ISSUES PUBLIC APOLOGY TO JABOURI AND HOUSE FOR PERSONAL ATTACK AGAINST HIM CONCERNING AMNESTY LAW…APPROVAL OF CONSTRUCTION FOR 35,000 HOUSING UNITS IN KURDISTAN FOR DISPLACED….SALEH STATES THAT IRAQI STATE INSTITUTIONS EMPLOY 4.5 MILLION CITIZENS AND WILL BE FREEZE IN 2017 BUDGET EXCEPT FOR DOCTORS & HEALTH POSITIONS IN AREAS OF NATIONAL NEED ADDRESSED…INFORMED POLITICAL SOURCES REVEAL ZEBARI WILL REVEAL BANK SECURITY OFFICIALS OVERGROWN ACCOUNTS & CORRUPT DEALS OF MEMBERS OF GOV’T IN HIS QUESTIONING TODAY…2017 BUDGET OVERVIEW…102 TRILLION IQD ($85 BILLION USD). WITH 32 TRILLION IQD ($26.6 BILLION USD) DEFICIT 70 TRILLION TOTAL REVENUES ($58 BILLION USD) AND OIL PRICED AT $35 @ 3.6 MBPD…IRAQI DISPLACED FROM HISAKA RETURNING TO THEIR HOMES…JABOURI & ABADI DECLARE THAT QAYYARAH VICTORY IS QUALITATIVE BREAKTHROUGH FOR EXPEDITIOUS FINAL VICTORY IN MOSUL & NINEVEH…ABADI MEETS WITH GROUP OF US CONGRESSMAN DISCUSS SUPPORT FOR MOSUL LIBERATION & CARE FOR DISPLACED…ABADI STATES THAT HE DOES NOT WANT A MINISTER OF THE INTERIOR AS “IT IS NOT CONSISTENT WITH ME”…SADR WARNS THAT MALIKI WILL MOVE TO TRANSFORM THE GOVERNMENT IN IRAQ TO MILITIA RULE…
BUSINESS/FINANCE/ECONOMY
OIL AT $48.95…GOLD FALLS TO LOW OF 216,000 IQD TO THE WEIGHT…DEPUTY GOVERNOR OF CBI ALI AKBAR DIES ON OPERATING TABLE IN LONDON AS ONE OF IRAQ’S LEADING FINANCIAL & ECONOMIC ACTORS HAILS MASUM…SUPREME JUDICIAL COUNCIL ANNOUNCES FORMATION OF SPECIALIZED INVESTMENT COURTS TO RESOLVE DISPUTES & APPEALS IN ALL PROVINCES…KUWAITI COMPANY ZAIN IRAQ ANNOUNCES TAX SETTLEMENT WITH IRAQI GOVERNMENT AND UNFREEZING ASSETS AFTER MEETING BETWEEN ZEBARI AND MANAGING DIRECTOR OF THE 11.2 MILLION CUSTOMER BASE BUSINESS THAT CONTROLS 38% MARKET SHARE…REAL ESTATE BANK GEN MANAGER ANNOUNCE NEW INSTRUCTIONS FOR LOAN APPLICATIONS CREDIT PLAN… JAPANESE DELEGATION FROM TOYOTA UNDERLINES THE IMPORTANCE OF BRINGING INVESTORS INTO IRAQ IN MEETING WITH ABADI…GENERAL COMPANY FOR LAND TRANSPORT MINISTER MUHAMMADAWI ANNOUNCES SIGNING OF BIGGEST CONTRACT IN COMPANY HISTORY WITH FRENCH COMPANY LAFARGE FOR TRANSFER OF CEMENT WITH EFFORTS TO IMPROVE RELATIONSHIPS WITH INTERNATIONAL COMPANIES…TRANSPORT ANNOUNCE OPENING OF RIVER TAXI IN NAJAF PROVINCE…KIRKUK GOVERNATE AND GOVERNOR KARIM ANNOUNCES OPENING OF SECOND PHASE INDUSTRIAL CITY AT COST OF $250 MILLION UNDER THE COMPANY NAME “PEOPLE OF A UNITED KIRKUK” AND 1ST PHASE STARTED IN 2013 WITH GOV’T OFFICIALS BUSINESSMEN AND INVESTORS IN ATTENDANCE…ECONOMIST HASHIMI ASSERTS THE ESTABLISHMENT OF SOVEREIGN FUND NECESSARY TO PROVIDE FOR FUTURE OF IRAQ AND PROVIDE INVESTMENT IN FUTURE GENERATIONS USING SUCCESSFUL TEMPLATE OF KUWAIT’S ESTABLISHED IN 1953…
PARLIAMENT
JABOURI CONFIRMS COMPLETION OF SPECIAL COMMITTEE MEETING AMENDMENTS TO GENERAL AMNESTY LAW…PARLIAMENTARY HEALTH FORMS INVESTIGATIVE COMMITTEE TO LOOK INTO FIRE AT UPPER HOSPITAL….PARLIAMENT VOTES ON 4TH, 5TH & 8TH ARTICLE OF AMNESTY LAW WHICH WAS ONE OF THE CONTENTIOUS PARTS & NOW VOTING ON LAW IN FULL…JABOURI DECLARES THE MP’S VOTE ON DISMISSAL OF OBEIDI WILL BE PRIVATE SECRET BALLOT AWAY FROM HEADS OF BLOCS & OBEIDI TO INFLUENCE AND RECUSED HIMSELF FROM CHAIRING VOTE..…PARLIAMENT SESSION RESUMES AFTER HALF HOUR BREAK WITH QUORUM OF 245 DEPUTIES….JABOURI ANNOUNCE THERE WERE 15 EXCEPTIONS WITHIN GENERAL AMNESTY LAW…PARLIAMENT ANNOUNCE 253 DEPUTIES VOTED ON WITHDRAWAL CONFIDENCE OF OBEIDI IN SECRET BALLOT OBEIDI IS OUT AS MoD WITH 142 VOTES…ABADI STATES “THERE ARE INTENSIVE CONTACTS TO RESOLVE THE CABINET RESHUFFLE IN ITS ENTIRETY”…PARLIAMENT ISSUES TRAVEL BAN AGAINST OBEIDI UNTIL HE ANSWERS TO CORRUPTION CHARGES…NASSIF STATES “DEFENSE MINISTER NOT ONLY CORRUPT BUT HANDS STAINED WITH BLOOD OF THE CROWD AND THE ARMY… PARLIAMENT FINANCE COMMITTEE MP SARHAN ANNOUNCES THE GOVERNMENT (FEDERAL) BANKING LAW IS ON THE TABLE OF PARLIAMENT READY FOR VOTE…PARLIAMENT RAISING SESSION SATURDAY AFTER COMPLETION OF ZEBARI QUESTIONING…PARLIAMENT FINANCE COMMITTEE MP TAMIMI REQUEST THAT ABADI DEKONSTRATE BUDGET EXPENDITURES & DISBURSEMENTS FOR 2015 & 2016 BUDGETS BEFORE APPROVAL OF 2017 BUDGET LAW DRAFT…ISLAMIC SUPREME COUNCIL ASSERTS IRAQ HAS MORE THAN 250,000 PARCELS OF LAND AND REAL ESTATE THAT WILL STIMULATE THE NATIONAL ECONOMY…
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1320.294 | 1319.634 |
| British pound | GBP | 1546.647 | 1545.874 |
| Canadian dollar | CAD | 907.904 | 907.450 |
| Swiss franc | CHF | 1208.713 | 1208.108 |
| Swedish krona | SEK | 139.278 | 139.209 |
| Norwegian krone | NOK | 142.379 | 142.308 |
| Danish krone | DKK | 177.336 | 177.248 |
| Japanese yen | JPY | 11.597 | 11.592 |
| Special Drawing Rights |
SDR | 1650.911 | 1650.086 |