Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.
Word for the day…
Luke 1:37 (NKJV)
37 For with God nothing will be impossible.”
Heavenly Father, Thank You that You are Love! Thank You that nothing will be impossible with You 🙂 In Jesus Name, Amen.
Mrs BGG
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1166.000 | 1164.000 |
| Euro | EUR | 1324.809 | 1324.147 |
| British pound | GBP | 1788.411 | 1787.517 |
| Canadian dollar | CAD | 900.664 | 900.214 |
| Swiss franc | CHF | 1213.951 | 1213.344 |
| Swedish krona | SEK | 141.860 | 141.789 |
| Norwegian krone | NOK | 144.166 | 144.094 |
| Danish krone | DKK | 177.590 | 177.501 |
| Japanese yen | JPY | 9.719 | 9.714 |
| Special Drawing Rights |
SDR | 1645.774 | 1644.951 |
Indicative rates – 10.12.2015
http://www.cbi.iq/
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Nature has planted in our minds an insatiable longing to see the truth. – Marcus Tullius Cicero
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*** Current Posts ***
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Mike (Dinar Guru) – Article: “Central Bank extends the sale of bonds for the benefit of the Ministry of Finance one month” Isn’t this the second or third time they’ve extended this “offer” to the Iraqi people? It don’t look to me like there’s very much interest in the domestic bonds either.
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Mnt Goat (Dinar Guru) – I believe when we see the accountability and justice law we will see these corrupt government officials be prosecuted at all levels and at warp speed. These trials should not take long since in most cases the evidence is overwhelming. I also believe this will lead to less disruption in getting the remainder of the needed reforms completed and thus a window for an RV. It is all going to come to a beautiful conclusion all of a sudden and shortly. [post 2 of 2]
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Mnt Goat (Dinar Guru) – I will say I believe we may be heading for another good opportunity for a window to RV coming up in the later part of October/early November if all goes well accordingly…IF, and only IF Iraq can accomplish their goals they will be inline to RV. We simply had to wait for the events to unfold that are required to bring the political stability, physical security and the economic stability needed for this RV event to occur. The pressure is on the Abadi government to set a timeframe and not let this go on forever, which seems to be the case sometimes. [post 1 of 2….stay tuned]
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Jester (Dinar Guru) – I WAS LIKING TO TELL YOU THAT SOMETHING IS HAPPENING ON THE GROUND IN IRAQ… SOME ANNOUNCEMENTS IN THE MOSQUES AND THE TV AND STUFF REGARDING IMPENDING REFORMS… IT IS NOT GOING TO BE WHAT YOU ARE LOOKING…IT IS STILL ALL ABOUT THE BIG PICTURE FOLKS… KEEP WATCHING AND STAY TUNED… IT IS ABOUT TO GET BETTER.
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firefly (Dinar Guru) – NOBODY GOT PAID EARLY! Where do banks get their rate from? Unless their is an EXCHANGE RATE THAT IS LIVE, no banks have rates…period….end of story. The rate will have to travel through several time zones before it goes live.
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Kaperoni – Article quote: “Iraqi Deputy Minister of Finance said on Sunday that Iraq suspended its plans to issue international bonds because the yield to be paid will be very high.” The real truth is nobody wanted them.
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DinarUpdates.com News Time Chat 10-10-15 PM 2 of 2
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
Welcome to dinarupdates.com for News Time with Millionday!!
Baxter1243: where is the money going to come from to pay for this? Some haven’t been paid in a year now… even if its on the card.. somewhere along the line… it has to be cashed..
Millionday: IT WILL COME FROM THE FEDERAL BUDGET THAT IS BEING DISTRIBUTED BY CBI —-
CBI IS NOW OVER ALL BANKING AND THE GOVERNMENT ANNOUNCED THEY ARE DONE WITH THE LEGISLATION THAT WAS NEEDED FOR IRAQ`S REFORMS – SO FROM THE FEDERAL GOVERNMENT
Millionday: IN BANKING THE BANK IS REQUIRED TO HAVE ON HAND A % OF ALL DEPOSITS — THAT IS WHY THE TERM “RUN ON THE BANKS” IS SEEN AS A FEAR WITHIN A COUNTRY — THEY WILL HAVE PLASTIC BUT FEDERAL BENEFITS
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Read More: http://www.dinarupdates.com/showthread.php?22220-Millionday-News-10-11-15
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Mike (Dinar Guru) – Article quote: “…Iraqi Deputy Minister of Finance said on Sunday that Iraq suspended its plans to issue international bonds because the yield to be paid will be very high.” This is no surprise, the 11+% rate for the sovereign bonds is astronomical, it’s 3% higher than Greece’s. So, the WB told them no to a loan, the domestic bonds were slow and now they’re cancelling the sovereign bond project, where is Iraq going to get the needed capital to avoid further erosion of the CBI’s reserves? I hope they have a plan, otherwise it’s going to be a slow painful decline for the economy, dinar and Iraq.
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Kaperoni (Dinar Researcher) – Article: “US Treasury commends the financial administration in Iraq” Why would the treasury be talking to Iraq about Iraq’s relations with international institutions and the global financial markets unless they were planning to engage with them? Good to see Iraq meeting transparency standards also. We all know it will happen. Just when is the question.
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Millionday (Dinar Researcher) – Article quote “…the implementation of the reform professionalism and rigor and seriousness to achieve real and meaningful results measures reflected immediately on the economy and the citizen and the future of the country…” THE PROCESS OF ECONOMIC REFORM IS VERY IMPORTANT WITH EVERY STEP FOR SUCCESS. THE STEPS OF REFORM WILL IMPACT THE CITIZENS AND COUNTRY RIGHT AWAY —THERE IS NO ROOM FOR HOLD UPS OF ANY PART OF THE PROCESS. THEY ARE ALL PREPARED AND THE COUNTRY IS IN WAITING MODE FOR THE REFORMS AND ALL THE ECONOMIC REFORMS WILL BRING… THE REFORMS BEING ACTIVATED WILL CHANGE THE ENTIRE HISTORY OF IRAQ — THEY WANT ALL OF THESE CHANGES IN HISTORY TO BE GOOD ONES.
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DinarUpdates.com News Time Chat 10-11-15 PM Part 1 of 2
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: NOTE — SETTING UP FOR ECON0MIC REFORMS MONITORING
Millionday: Hussein al-Tamimi Tgb exhorted economic Member Baghdad forum Amer Jeweler to adopt court mechanisms and commissions of new work is characterized by professionalism, competence and integrity in the detailed application of government reforms aimed to evaluate courses of action in Iraq and achieve economic viability in the productive sectors and service.
Millionday: NOTE — COMMITTEES TO TAKE THE ROLES
Millionday: He admitted Jeweler the enormity of responsibility and the complexity of the process required actions , pointing to the need for action to contain the challenges and constraints routine and work on the calendar management system that requires genuine national spirit, praising the substantial support given to the reform process, which is the most important elements of success.
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Read More: http://www.dinarupdates.com/showthread.php?22220-Millionday-News-10-11-15
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firefly – Quote: “Finance Committee hosted a meeting on Sunday 4/10/2015…to discuss and exchange views on the 2016 budget…and the implementation of the 2015 budget, income and expenditure and the commitment of the Ministry of Finance to raise the budget in time timings specified in the Financial Management Act.” the implementation of the 2015 budget, HUGE! This is NOT just an internet article…This comes from PARLIAMENT. Remember where all the money is! Remember the financial crisis!
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Poppy3 – WATCHING THE FINANCIAL MOVEMENTS THEY HAVE ACCOMPLISHED OVER THE LAST FEW WEEKS AND EVEN MONTHS HAS SHOWN THEY ARE USING EVERY STRATEGY TO COMPLETE THEIR PROCESS FOR COMPLETE FINANCIAL REFORM. SEEMS EVERYTHING IS IN PREPARATION FOR THE NEW IRAQ. REMOVING DEBT STEP BY STEP ONLY ENHANCING OUR POSSIBILITIES.
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Backdoc (Dinar Guru) – THE VALUE OF THE DONG WILL BE BALANCED VERY NICELY WITH TRADE. SINCE 80% OF THE TRADE CONTRACTS ARE AGREED TO BE SETTLED IN DOLLARS, CONTROLLING THEIR NOTE COUNT SHOULD BE EASY! WE DON’T GIVE DATES OF COURSE BUT WE ARE ECSTATIC ABOUT WHAT WILL BE REALITY IN VIETNAM! IMO.
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Iraqi Dinar/Dollar auction 10-12-15
Currency Auctions Announcement No. 3052 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 10-12-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 21 |
| Number of remittance companies | 10 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 184,291,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 184,291,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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BGG – [And not to be a smart a**……. But how’s that National Reconciliation WORKING OUT !! LOL !!] Well – on one hand, you are absolutely correct… there are those who survive (and thrive) in chaos. However, there are also the new guard who know National Reconciliation is the key to their future… maybe not the key to an RV…but it will be the key to the future of Iraq. This new guard looks like Massoum, Jubouri, Abaidi, Sistani and others… the Shia have figured out setting the Middle East on fire only works so long… at some point peace might work… because eventually – everything is burned and there’s no where left to live… who cares if you are the ruling party if what’s left over isn’t worth ruling?
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hub (Dinar Guru) – if you will look at irc section 988, it will give the tax code for currency exchanges for personal investment, this section says personal currency investment will be taxed as capitol gains, either long or short for the length of time you have the currency, now the exciting part, I looked on 20 or so sites about this matter, and almost 3/4 of them mention the dinar exchange. Read what you want into this, but for me to see this many sites mention the dinar and taxes, something must be causing it!!
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tman23 – I will say this again…..The only thing all these provinces, tribes, and displace people in Iraq have in common is the CURRENCY of Iraq…. If the currency has power to provide a life for Iraqi families and the common people, they will be along side the government to protect all interests….otherwise the only thing they have to offer is promises that never get met, and a market economy that is a joke without foreign investment and credit….
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Iraq stop the plan to issue bonds because of international high-yield
Alsumaria News / Baghdad – Ministry of Finance announced on Sunday that Iraq suspended its plans to issue international bonds, attributed the reason for this is that the revenue that will pay will be very high.
Fadel said the Prophet, Undersecretary of the Iraqi Minister of Finance that the recent “ordered a halt to bonds because the interest rate will be high.”…
Read More: http://www.dinarupdates.com/blog
BGG ~ So one of three things is in play here…
1) They couldn’t sell the bonds (no one was interested)…
2) The yield was too high (as is the interest rate on these international loans)… I did say international investors would buy – but they would want a premium for this risk (as in BIG MONEY)…
3) They have another solution to their budget crisis they intend to move on… (which they always have had)… HINT – MONETARY REFORM.
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tlm724 (Dinar Guru) – Article: “World Bank refuses to give Iraq a loan of six billion dollars” no huge bailout for Iraq…it is time Iraq stood on it’s own and take responsibility for themselves! Iraq needs a loan of six billion dollars to cover his inability…this crisis and austerity program could have been avoided! if the World Bank keeps bailing them out then they will never impose taxes, privatize etc… I think it’s good that they said no to the 6 billion dollars.
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tman23 – I don’t know what the formula is to cure their ills……. But know that more purchasing power for their currency provides a solution because they import 90% of all goods…..And going back into the 1950’s their currency was valued way more then the usd……That being said; for 40 years their currency had better than 2.5 times the usd worth…..AND THERE MUST HAVE BEEN A REASON FOR THAT RATE ! IMO….. The only solution left is currency purchasing power….
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wmawhite – IMO, not one individual item/event will give us what we are waiting on…instead, there are a series of laws, financial initiatives that are setting up the foundation that will bring the new IQD to the world stage. Here is another little tidbit…look at the list of notes and coins for the IQD on the CBI website. As you look at those notes and coins you can see into the past and into the future. Those large notes tell the story since 2003 up through today. Those smaller notes and coins are an indication of what the plans are for the IQD in the future. The only way those smaller notes and coins will be useful in the market place is when the cost of goods are low enough for the consumer and merchant is use…and the only way those goods will be reduced in price is when the IQD is significantly more valuable outside the country.
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DinarUpdates.com News Time Chat 10-10-15 PM (evening)
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: THIS FIRST REPORT THOUGH
Millionday: READ EVERY WORD
Millionday: NOTE — THIS IS A VERY FORMAL MEETING
Millionday: Finance Minister Hoshyar Zebari, on Friday, that the government’s policy in the financial and administrative reform and in the fight against corruption in line with IMF and World Bank policies of international “.
A statement by the Ministry of Finance received / scales News / Zebari “head of the Iraqi delegation to the annual meeting of the International Monetary Fund and the World Bank and the accompanying public debt circles managers and the delegation, and the Fund for the Iraqi Development, and the budget in the Ministry of Finance,
Millionday: NOTE — THIS IS NOT JUST AN INTERVIEW — IT IS THE PRESENTATION RESULTS FROM THE IN PERSON MEETING
Millionday: NOTE — IRAQ`S REFORM IS COMPLIANT WITH WB AND IMF — ====INTERNATIONAL COMPLIANCE
Read More: http://www.dinarupdates.com/showthread.php?22169-Millionday-News-10-10-15
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Martha – I haven’t read anything today but I do have the same group that was told last Wednesday that the window is 10/10 -10/15 for them. Again treat as rumor.
This continues to keep in line with Tony, Bruce, and even Frank! You all have to admit that this is the longest route to a RV. Tonight, the markets go down all around the world.
Tomorrow the 11th would really be a perfect day for the release.
Monday, the 12th is a holiday and markets are open. Some banks like Wells Fargo are open and some are closed.
The 15th will be the UN operational rates if there are changes.
I won’t discuss numbers or moons but the #11, dates 10/12 -10/13 in the Hebrew calendar are the 29th and 30th and there is a new moon.
And there you have it.
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tman23 – Zebari solicited the world for loans and donations….he came back empty handed……NO SOUP FOR YOU !! So now he talks of “states” or neigboring countries……LOL !! Well you owe Kuwait billions that they defered payment to 2016….but things are getting worse……….MAYBE HE CAN ASK IRAN FOR A LOAN SINCE OBAMA IS RELEASING 150 BILLION TO THEM……AND IRAQ CAN SELL/BORROW THEIR SOUL TO THE REGIME THAT TOOK ALL THEIR MISSING FUNDS IN THE FIRST PLACE……
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Millionday – Article quote: “Imad emirate called economic academic d. Rahim Hassouni to develop (the Federal Council for Oil and Gas) for his contribution in the development of Iraqi oil policy…” HASSOUNI HAS BEEN ASKED TO FORM FEDERAL COUNCIL FOR THE HCL TO BE MONITORED ETC…THE ADDITION OF THIS FEDERAL COUNCIL IS TO PLACE OIL PRODUCTION OF IRAQ WITHIN ALL GUIDELINES — INTERNATIONAL AND REGION… THE DUTIES ARE FOR OIL PRODUCTION AND PRODUCTS FOR THE MARKET WITHIN INTERNATIONAL COMPLIANCE. THIS INCLUDES BUDGETED REQUIREMENTS FOR THIS YEAR`S BUDGET. THE BUDGET FOR THIS YEAR (2015) HAS INTERNATIONAL OBLIGATIONS WITHIN.
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Backdoc (Dinar Guru) – IRAQ IS RUNNING A 400 METER RACE, WHICH IS ONCE AROUND THE TRACK! BEFORE THEY CROSS THE FINISH LINE THEY ARE FEELING THE PAIN AND THEY WILL BE FORCED TO LEAN OVER THE LINE! THEIR OXYGEN LEVEL HAS TO BE DROPPING! GETTER DONE BOYS!
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Iraqi Dinar/Dollar auction 10-11-15
Currency Auctions Announcement No. 3051 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 10-11-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 23 |
| Number of remittance companies | 7 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 175,008,113 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 175,008,113 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rockymtnlady – Ray in Open Mike Sat afternoon…OM report: Ray is in a great mood. Confirmed that private exchanges are ongoing this weekend.
It appears the plan is to complete private exchanges by Monday eve or sooner. Then it is us … the Internet folks. They want us done by Wed or Thu eve.
Then the exchanges will open to the general public.
Ray is planning to be on a beach in St Thomas by the 20th … maybe the 24th … depends on how much biz he needs to get done before he leaves for some R & R.
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Aggiedad77 (Dinar Guru) – I am all for transparency in writing this budget and getting it published…..but keep the cloak and dagger boys away from the budget until “after” it is approved…..oh sorry….I meant the Finance Committee of Parliament….no last minute shenanigans from them this year…….give to the people just like PM Abadi wants…..straight up with a twist of lime and one olive.
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BGG – Jafaari had the nerve the tell the US Ambassador (this morning) that our coalition didn’t meet the threat level of terrorism in their country… this from a guy who was overseeing the party for which Maliki was campaigning for while he was bombing Anbar and starting this whole mess for his reelection campaign…without Maliki – I truly believe ISIS would not be what it is today…and this is the very reason – I see no way the world let’s him off the hook so easy. I agree – their economic situation is still dire…and this may be the thing that really puts us in the running… as soon as the main bad actors are down – I fully expect monetary reform in stages – they are too desperate. Their situation is dire. They need the bounce ASAP.
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Mnt Goat (Dinar Guru) – what should we be looking from Iraq to indicate to us they are gaining the stability needed in these three areas of concern? 1) POLITICAL STABILITY (getting rid of Maliki and the Iranian influence); 2) PHYSICAL SECURITY (getting rid of ISIS and DAASH); 3) ECONOMIC STABILITY (ending the corruption, returning the loss Iraq funds, the return of Dr Shabibi to the CBI and the diversification efforts in the Iraqi economy, price of oil on the rise).
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Commercial Solicitation
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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:…
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://dinarupdates.com/blog/
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