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 11-10-16 (most recent listing)
Currency Auctions Announcement No. 3316
This daily currency auction was held in the Central Bank of Iraq on the 11-10-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 148,551,279 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,551,279 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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And to all Veterans – THANK YOU!!
*** Current News ***
The central bank begins its first steps to delete the three zeroes from the currency
The governor of the Iraqi Central Bank, said the bank began to develop the first steps of the project to delete the three zeroes from the Iraqi currency.
Between the Keywords in a statement that the aim of the deletion of three zeros is to support the Iraqi dinar, and make it a competitor to foreign currencies, pointing out that this project is strategic It will serve as the country ‘s economy, as the dinar will be included in the global basket of currencies in the vital exchanges. He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017.
He pointed out that the Keywords introduction of the new currency does not mean the destruction of ancient coins, but will continue to trade for about 10 years.
Courtesy of RCookie
Hub (Dinar Guru) – Article: “CENTRAL BANK: THE DELETION OF ZEROS IN EARLY 2017“ Quote: “The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.” …a thought, they are about to change the value of a 25,000 note from $22 to maybe $75,000, why would they say we are going to do this is 2017 so every tom, dick and harry can go buy some more…i think it is a ploy and i would not be surprised to see it much quicker… […since the CBI indicating the dropping of the 3 zeros in early 2017, does that mean that based on this article we wouldn’t see a change until then or would they have to begin the rate change part of the process sooner…?] in my own humble opinion, i think they would have to implement the change before dropping the zeros which is really bring out lower denoms and getting the big notes off the street.
Read More: http://www.dinarupdates.com/observer/
Central publishes a schedule prices, gold bullion and coins, and confirms that the latest unavailable
The deployment of the Iraqi Central Bank, on Wednesday, a schedule prices gold bullion and coins for the current week, as he pointed out that the coins are currently unavailable.
Bank and publish a schedule of prices of gold bullion and coins for the current week Alsumaria News received a copy of it, and the table that the specie 15 g and which normally retails for 751 thousand dinars unavailable while the price minted reached 22 carat g 1.099 million dinars and referred to it is currently unavailable.
Table and he explained that alloy 5 g price stood at 260,000 dinars, while the price of alloy 50 g amounted to 2.606 million dinars.
Courtesy of RCookie
HMMM… GOLD COINS NOT CURRENTLY AVAILABLE…..
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rcookie (Dinar Guru) – Article quote: “Chief financial officer at the US Embassy in Iraq, John Sullivan has praised the efforts of Iraq in the reform of the central bank, which confirmed that the bank «completed within a year more than what has been accomplished in the past 13 years.” …WHICH IS WHY THE CBI IS GETTING RAVE REVIEWS FROM IMF AND UST...AND THE TRANSPARENT CRITIQUE FROM POLITICAL AND MEDIA SOURCES SO TRANSPARENT AND SUSPECT… …CBI REFORMING BANKING SECTOR…AND THE UST AND IMF LAUDING THEIR RESULTS WITH CLAIMS THAT THEY HAVE DONE MORE IN THE LAST YEAR…THAN THE PAST 13 YEARS COMBINED…THIS IS CRITICALLY IMPORTANT STUFF…
Read More: http://www.dinarupdates.com/observer/
The Central bank refuses to bury the money and calls on citizens to acquire government bonds
Alsumaria News / Baghdad – Rejected the central bank, on Wednesday, “bury” the money underground, while calling on citizens to purchase government bonds.
The bank said in a statement received Alsumaria News , a copy of which was “noted the increasing incidence of the audience to revisit replace buried currency very large amounts . ” noting that “this process is a negative indicator of the lack of interest in the national currency.” the bank , “he said the national currency was buried lead to harm deliberately national currency and carries extra Colva,” adding that “currency is a symbol of national sovereignty and symbols.”
The bank called for “citizens ‘ interest in the national currency and not to bury it in the ground and go back to keep them at the government and private banks,” urging them to ” the acquisition of government bonds alternative to hoarding as a means of saving.”
Founded CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies.
Alsumaria News
Courtesy RCookie
BGG (Dinar Guru) – [So what is your take on this latest “Upgrading of the Iraqi Currency” rash of articles?] …even though this is likely a “second circle” commenter…it sure is nice to hear someone in that sphere talking (affirmation) along these lines… AND this isn’t “confirming” anything HAS happened… but still adds another log on the “fire” – so to speak…and this speaks to the very heart of the matter for many people… “IS THIS REAL“? …after all this FBI intervention… had this NOT BEEN REAL – there is NO DOUBT they would have been able to attack the veracity of this – as an investment around that time. AND…I (even for myself) go back to the FUNDAMENTAL DOCUMENTS as my “proofs” for my thesis… The SIGR Report…The LOI’s…All of the IMF Documents. The EVIDENCE MOUNTS DAILY. “Affirmation”…
Read More: http://www.dinarupdates.com/observer/
Magda Tamimi: Rethinking the fiscal policy has become inevitable
BAGHDAD /tomorrow Press – Confirmed the parliamentary finance committee member Majda al-Tamimi, said Tuesday that re-examine the fiscal policy in the country has become inevitable, stressing that it is necessary to diversify the revenue until the economy not be subject to fluctuations in world oil prices and policy affecting the oil market.
She said Tamimi in an interview for “tomorrow’s Press,” that “the general budget still depends largely on the oil revenues, which amounted to about 86%not to mention the absence of other sectors and have yet to find those considering or actual steps of the previous governments and the current to change this approach, it is imperative to restore public finance policy and provide what is more worthy to work with and this is it inevitable to provide subject for discussion”.
She said Tamimi, “it is necessary to diversify its revenue so it is not the economy subject to fluctuations in world oil prices and policy affecting the oil market,” indicating that “it is by stimulating the export subsidy policy and the trend towards investment in the real sector and the importance of opening the door for foreign direct investment as playing a significant role to reduce production costs and improve quality”.
She stressed that “there are ideas and proposals submitted to the Committee and will be discussed in turn after the completion of the vote on the 2017 budget being busy, and will be discussed by effectively to put an end to this file, which repeats its mistakes every year without change”.
Alghadpress.com
Courtesy RCookie
GM GUYS..
HERE IS TAMIMI PROVIDING SOME EXCITING INSIGHT AS TO IRAQ’S 2017 OIL RELIANCE DOWN TO 86%….BIG MOVE FROM THE 95% FROM PAST AND IMF EMPHASIS ON WANING OIL RELIANCE…
ALSO SHE OUTLINES THAT FOREIGN DIRECT INVESTMENT (FDI) AND RESTORATION OF SOUND PUBLIC FINANCE POLICY AS MEANS OF DRIVING IRAQ’S EXPORT CAPABILITIES THROUGH IMPROVING IRAQI MADE GOODS PRODUCTION COSTS AND QUALITY WITH APPLICATION OF THIS FDI…WHICH SHE POINTS OUT HAS BEEN TALKED ABOUT IN THE PAST BUT NOT ACTED ON…..
SORT OF PLAYS INTO SALEH STATEMENT ABOUT “IT BEING TIME FOR DEEDS AND NOT WORDS” IN THE STRATEGIES TO REPAIR IRAQ’S ECONOMY…
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Enorrste (Dinar Guru) – The CBI will begin destroying the large notes, thus reducing the money supply, and this will put upward pressure on the value of the currency, irrespective of Article VIII. If they also accept the Article VIII conditions, which I believe is the stated goal of the IMF, then the process could move along much faster. Trade would improve in Iraq, thus allowing more money to come into the country, relieving the liquidity crisis somewhat, and this would allow the CBI to begin reducing the money supply. They are clearly on record that they want the money supply to be brought down to 40 billion dinars. They just have to have a mechanism to make this happen without too much of a jolt internally. And, of course, they have to START. I believe the article is saying that they have made a determination that the start will happen in early 2017.
Read More: http://www.dinarupdates.com/observer/
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KEYWORDS: BANKS CURRENTLY CLASSIFIED ACCORDING TO THE INTERNATIONAL CLASSIFICATION SOON
Governor of the Central Bank on the Keywords revealed that the central bank will announce the names of the banks in accordance with international rating by one of the world Rating companies that are working on the evaluation of these banks.
A statement issued by the media office of the bank on Wednesday received Iraqi Transmission Network (IBN) that it came in his answers through questions directed to him at a seminar hosted by Two Rivers Center for dialogue on monetary policy in Iraq that have been identified valuable three axes currency loans and developmental stages of the Central consultations window with the monetary fund on the facilities and external lending.
Keywords and said according to the statement that the banks will get the Commission’s assessments will be considerably increased its stake in the window of the currency as committed in the sales mechanism instructions and under the stated price. This took place dialogues made by the House of Representatives and the officials and participants about the problems that arise due to the currency window.
The symposium recommended the need for stakeholders commitment to media statements that are offensive to the country’s reputation and its economy after the cut facts about the participants.
For his part, Chairman of the Association of Banks and Wadih Handal said that the accusations directed to money laundering, but detrimental to the reputation of Iraq and should be accurate.
Keywords added that the options can not be implemented without the continuation of the currency window to secure the necessary liquidity.
The participants came up with conviction that there is no other option at the moment after the window briefed on the advantages and disadvantages.
Ibnnews.net
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Central banks will lend banks and civil trillion dinars to revive economy
Economic Adviser to the Prime Minister Haider al-Abadi revealed that the Iraqi Central Bank will lend banks and civil banks trillion dinars.
He said the appearance of Mohammed in a press statement that ‘the CBI will be distributed loans worth trillion dinars on private banks estimated fair, under the controls and the ability to manage it.’
Saleh added that ‘the loans will include small and medium enterprises that are active capital and the economic cycle in Iraq’, noting that ‘some of the complaints which may be raised by the private banks, but the central bank is able to solve it’, denying ‘presence Marqlat on loan or delay in distribution’ .
He said the move ‘in order to develop the local economy and resolve the economic problems of the citizens and the support to the initiative of loans launched by the Central Bank of Iraq. ”
The Governor of the Central Bank and the Agency on the Keywords held this week a series of visits included a number of private banks to determine the main obstacles and challenges faced by banks in order to reach one goal, a financial and economic stability.
Courtesy RCookie
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Central Bank: the deletion of zeros in early 2017
Benefits:
1.adraj Iraqi dinar within the global currency basket and handle it officially the world ‘s stock exchanges and financial markets.
2.amkanah held economic agreements to handle the national currency as Iraq could hold Order dollar instead dinar when the contract to build two production lines deals agreements or transactions Stirad goods this will cover a very large part of the foreign remittances that are squandering of national wealth from foreign exchange.
3.illt trading allows dealing in Iraqi dinar in the Iraqi market and not rely on foreign and squandered currencies and Bosrtha transfer abroad by the private and public sector, which is the sovereign wealth dissipated abroad a small, non – essential positions and luxury in Iraq at the time need this wealth of storage as a reserve.
4.seetm rid of manipulating market currency exchange and finish the so – called auction sell the currency , “” burning oven dollar “”
5.satoagaf work corrupt suspicious of banks and their agents and Smaserthm “” contractor and investor cartoons ”
6.seetm capping the highest amounts transferred abroad of currency the dollar and the euro and the yen sterling and the yuan exchange – active and other pound to ensure that no smuggling the vast majority of trades of currency smuggling.
The Iraqi Central Bank Governor said the project to delete the zeros will be implemented in the beginning of 2017, indicating that the bank began to develop the first steps of the project.
He said: ” the purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency”, returned him as “this strategic project will serve the country ‘s economy if will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world stock markets. ”
He added that” the Bank is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017 , “noting that” the central bank began the first steps of the project through the selection of the designs , companies and the country that will be the currency printing. ”
He pointed out that” the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years , “pointing out that” this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity In the market ”
Alrasheedmedia.com
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Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1302.800 | 1302.149 |
| British pound | GBP | 1470.408 | 1469.673 |
| Canadian dollar | CAD | 881.563 | 881.122 |
| Swiss franc | CHF | 1215.674 | 1215.066 |
| Swedish krona | SEK | 131.643 | 131.578 |
| Norwegian krone | NOK | 142.862 | 142.791 |
| Danish krone | DKK | 175.067 | 174.979 |
| Japanese yen | JPY | 11.600 | 11.594 |
| Special Drawing Rights |
SDR | 1635.072 | 1634.255 |