Word for the day…
Mrs BGG
Iraqi Dinar/Dollar auction 01-22-17 (most recent listing)
Currency Auctions Announcement No. 3364
This daily currency auction was held in the Central Bank of Iraq on the 1-22-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 157,020,256 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 157,020,256 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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The hardest thing in the world to understand is the income tax. – Albert Einstein
*** Current News ***
The advance granted to employees who have a smart card receives their monthly salary
Baghdad/SNG – Rafidain Bank, said Saturday that his predecessor granted 10 million dinars for State officials to have smart card activated receives her monthly salary.
The Bank’s information Office said in a statement, a copy of SNG received “a strategic plan on the Bank granted 10 million advance that an employee must have a smart card activated through resettlement of salaries in private savings accounts and activate the electronic tax receipt and pay her monthly salary, in addition to the payment of the insured who has previous advance advances.”
“The smart card is issued through his pledge to continue feeding the payroll every month on the same context through employee service covered by the advance provided the nearest branch of the Bank to disclose all of their salaries and all the details that I depend upon electronic form fields and sent a copy of the data on a disk (CD) and the book of the revolving head wave to section on safety supports detection and his pledge to provide salaries for employees of the full circle in that branch.
“The commitment that upon completion of the staff is called accounts under the names transferred to branches in accordance with the electronic form to get their signatures on contracts and then issuing the smart card.
The Ministry of finance had agreed on 18 September 2016 launch staff personal advances amounting to 10 million dinars for various purposes and according to the controls and instructions, while set conditions for the employee on this loan from has a smart card and amralmtkodm must not exceed 50 years.
Read More: https://www.facebook.com/groups/571383766355188/
1Bobby ~ These are the cards that will reduce the note count and add liquidity to the banks. Remember the 3 Ministries that agreed to have ALL employees salaries issued thru this card? Also the Rubber Industry agreed to the same with their employees (19,000 or so) This “10 million” advance was aimed at the :shortcomings” of the salaries due to the economic crisis.
Employees that sign up, thru the smart card, will be eligible for these advances. Just inner workings that have been going on for awhile now. They had to get the Ministries approval and get their ducks in a row before proceeding with this program. Bottom line is…..reducing note count, adding liquidity to the banks. Hope all that made sense. I’m sure others can add to it.
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Iraq opens the door to possibilities deletion of zeros from the local currency (16/1/2017)
Baghdad (Iraq 24) – Iraq opened the door to possibilities deletion of zeros from its currency, where the Central Bank of Iraq, said that there is full control of the Iraqi dinar.
The governor of the bank on the Keywords in a press statement, that “the rumors about the Iraqi dinar at risk and prone to degradation and decline in comparison with other currencies as dollar, is not true,” adding that “Msatralih dinar fully and that in progress.”
…” adding that “Msatralih dinar fully and that in progress.”…
Another posted this translation:
Msatralih (verb)
1) to make a new or revised valuation of;
2) to increase the legal exchange value of ( a nation’s currency ) relative to other currencies
wmawhite: Msatralih dinar fully and that in progress.
Msatralih dinar fully and that in progress.
wmawhite: …” adding that “Msatralih dinar fully and that in progress.”…
Okie Dinar: Awesome!
BGG: BIG TIME!!
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BGG (Dinar Guru) – Kuwaiti Dinar is still considered a thinly traded “exotic”…Iraq is almost certain to land in this category… no biggie – it’s alot like you’re all sitting on a penny stock about to get listed on the big board – no matter where it goes, it’s gonna’ be good.
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DU Call – “Homage to RCookie!!”
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BGG (Dinar Guru) – […do you find it odd we haven’t seen any statements from the World Economic Conference by Iraqi officials?] I do – I find a lot of things VERY strange lately…so much progress – much like the IBAN being accepted and utilized and we heard about it a week later… anyone notice the CBI has updated their Currency Buy/Sell listing on their website since 1/4?? …very odd (to say the least)…we may have to be digging to find the exact time of any value change – we use to say “just check the CBI”. That’s out the window… …it’s gonna’ happen overnite – we will (hopefully) know quickly, but we might have to dig and verify. IMHO. [Is there any chance that we have already had a value change, but has not been posted on the CBI?] anything is possible – but we have such broad contacts, I just doubt it has. [If we dont look at the CBI for the rate change, where will we find that information?] We’re gonna’ be looking at everything in context… probably some kind of “inter-bank memo” since they in the process of “re-engaging” right now. [can they have a rate and not showing it? How are they doing business other wise?] …the “not showing” part is not a long term thing – we’ll know pretty soon. No matter what.
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Breitling (Dinar Guru) – …It’s not what they’re saying it’s what they’re doing is what you need to understand the most…the CBI said they’re going to raise the value of their currency. The Ministry of Planning, parliament say the value is going to go up. I don’t need them to say anything if I’m watching their maneuvering and I understand how they’re going to compete. Then I understand how they’re going to add value to their currency. I really don’t have to hear anybody “say” anything. I just watch what they do. It’s not what they say it’s what they do that’s most important and the CBI is maneuvering in our favor if you’re investing in Iraq. So don’t get too crazy on what everybody says…just watch what the CBI does. Watch what the ministry of Planning is doing and how they’re doing it.
Read More: http://www.dinarupdates.com/observer/
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The following .PDF is the review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
Iraq:
If you could find some way to convince folks to at least skim through this document, they would be amazed. The moves Abadi has been making the last few months – kind of sense now. There is some outstanding information here.
DayTrader
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1229.584 | 1228.969 |
| British pound | GBP | 1455.018 | 1454.290 |
| Canadian dollar | CAD | 881.083 | 880.643 |
| Swiss franc | CHF | 1150.073 | 1149.498 |
| Swedish krona | SEK | 129.489 | 129.425 |
| Norwegian krone | NOK | 136.601 | 136.532 |
| Danish krone | DKK | 165.398 | 165.315 |
| Japanese yen | JPY | —– | —– |
| Special Drawing Rights |
SDR | 1582.534 | 1581.743 |