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
______________________________________________________________
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 | 1321.428 | 1320.767 |
| British pound | GBP | 1806.600 | 1805.697 |
| Canadian dollar | CAD | 897.061 | 896.613 |
| Swiss franc | CHF | 1219.410 | 1218.800 |
| Swedish krona | SEK | 141.390 | 141.319 |
| Norwegian krone | NOK | 143.867 | 143.795 |
| Danish krone | DKK | 177.155 | 177.067 |
| Japanese yen | JPY | 9.773 | 9.768 |
| Special Drawing Rights |
SDR | 1646.602 | 1645.779 |
Indicative rates – 10.20.2015
http://www.cbi.iq/
______________________________________________________________
The key to successful critical thinking is to first be critical of your own thinking. – Will Spencer
______________________________________________________________
*** Current Posts ***
______________________________________________________________
Delta (Dinar Guru) – The CBI – they are spending 5 Billion Dollars a month to give to the Iraqi banks – (to defend the Iraqi Dinar). Reserves…he said that only…about 55 Billion left-over…which means by the middle of next year, they will run out of reserves. So what happens then? Iraq would collapse. The revaluation of the Iraqi Dinar will fix a lot of problems. For us, this appears to be good news because everyone is telling Iraq that they need to revalue at a very good rate to help out with the current situation. The nation of Iraq will collapse if they don’t do something before the end of the year…maybe even November 21st you might see something. Abadi knows that the economy will collapse without it. This is 100% fact! …they have no choice and they really are out of time…the authors of the plan will lose. This is very, very important. They know what they need to do. I believe before the end of the year they MUST do something! [post 2 of 2]
______________________________________________________________
Frank26 (Dinar Guru) – You know that Dr. Shabibi has the green light. Do you think that Iraq is slowing down the monetary reform? No! Iraq is stepping on the gas. The bad guys that once controlled the GOICBI are gone. …the investment law was delayed, postponed…if you want to believe that…that is your business. But, deep in my heart they are waiting in a top-drawer waiting to be released when Dr. Shabibi is at the helm of the CBI. You don’t need an Investment Law unless you are EXPECTING something to happen. Investment Law is for who? Investors who want to come into Iraq. YOU are in investor in Iraq – without going into Iraq. That is why this is so important. I believe that the Investment Law may bring forth the HCL. We must see the LAWS…the LOWER DENOMS…then Dr. SHABIBI. IMO – the laws are passed they are just waiting for them to raise the value of their currency…All of the “old-timers” will remember…in the still of the night…
______________________________________________________________
Delta (Dinar Guru) – I want to talk to you about the article that I posted back on the 16th of October. The economist is talking about the economic crisis in Iraq – and offers his opinion of how to get over the crisis. He claims that in the beginning of 2016, Iraq needs to make some changes to avoid some problems. So many events led to the crisis — (ISIS, corruption, oil prices). He said that Iraq needs to boost the private sector and agriculture. He said the solution (…coming very soon) …the very most important solution would be for the government to reevaluate the Iraqi Dinar. [post 1 of 2….stay tuned]
______________________________________________________________
Mnt Goat (Dinar Guru) – I can tell you with all my heart and soul there will be NO RV until at least early January 2016. Again I will say this is only if Iraq can meet and fulfill its promises as part of the future process and plans for Iraq. Can they maybe accomplish their commitments prior? I do not have much faith in them as long as the Maliki syndrome is still present. It is part of the legislative bottleneck. We are definitely now on track for an early 2016 opportunity.
______________________________________________________________
Iraqi Dinar/Dollar auction (from) 10-20-15
Currency Auctions Announcement No. 3057 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 10-20-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 27 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 216,435,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 216,435,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
______________________________________________________________
Poppy3 – Haider Al-Abadi on Twitter: “Important breakthrough today as the Council of Ministers approves the proposed federal budget for 2016” MOVEMENT IN IRAQ ALL IN OUR FAVOR AND MOVING IN A DESPERATE RATE…LIKE VOTES TODAY THAT WHERE PREVIOUSLY SCHEDULED FOR TOMORROW. EVER SEE THEM DO THINGS FASTER THAN SCHEDULED? NEVER BEFORE TODAY! ABADI OPENED GREEN ZONE LAST WEEK AND THE PUBLIC IS FREE TO BE ANYWHERE. THEN YESTERDAY HE LIFTED ALL EXTRA SECURITY POLICE AND WENT BACK TO STANDARD COVERAGE. BANKS THERE ARE ALL OPEN AND DOING BUSINESS WITH THE PUBLIC. BANKS THERE ARE ALSO ANXIOUS ALONG WITH RETAILERS TO SEE MORE BUYING POWER THEY HAVE BEEN PROMISED FOR YEARS NOW. WE ALL WANT THE SAME THING AND ABADI IS DOING ALL HE CAN TO POSITION THEIR COUNTRY FOR GREATNESS. WE ARE GETTING CLOSER EVERYDAY.
______________________________________________________________
mike (Dinar Guru) – Respectfully, I believe Parliament is raised until next week: Quote: “It raised the presidency of the Iraqi Council of Representatives, on Monday, the 31 of the first legislative term of the second legislative year to the meeting on Tuesday of next week, (October 27, 2015)...” Today’s vote, from what I can tell, was a vote to amend the law and send it back to committee. I don’t think we’ll see the investment law until next week, if they get to it then. I believe they’re going to continue to meet and discuss security as well as the amendments to the Investment Laws, but I don’t believe Parliament will be in session. I guess we’ll know for sure tomorrow.
______________________________________________________________
wmawhite (Dinar Guru) – the Investment Law is about “investments”…the change in the value of the IQD is totally related to the exchange rate of the IQD relative to other currencies. Such as: IQD to GBP, or IQD to EUR, etc. All of these laws are need for the future because that is when these investors will arrive. RI/RV is for the present …Laws are the future.
______________________________________________________________
Follow us on twitter @DinarUpdates !!
Don’t Miss “NEWS TIME” in the DU CHAT ROOM – Tuesday evening at 7:30pm EST!!
www.DinarUpdates.com – save as favorite!!
______________________________________________________________
Kaperoni (Dinar Guru) – Article quote: “The Council proceeded to vote on the draft second amendment bill to the Investment Law…” There is nothing negative to take away from today’s session. They started to read the Investment Law again as stated and their were some further “constraint” concerns which are being amended. The best part is this…For his part, Mr. al-Jubouri said the completion of the vote on the bill in the next session. Quote: “Then it decided to adjourn the meeting to next Tuesday 10/20/2015“. So we see ya tomorrow!
______________________________________________________________
firefly (Dinar Guru) – Investment Law is for the protection of foreign investors. Not directly related to any change of currency. The Investment Law is meant to draw in Investors and confidence that their money will be safe…it is huge but NOT needed for any change of value to their currency. Required? No. Needed? Yes.
______________________________________________________________
Poppy3 – all the laws are positive but are not for immediate investments in iraq. THEY OPEN THE DOOR FOR FUTURE INVESTMENTS AND GROWTH OF THEIR ECONOMY. GETTING THESE OUT OF THE WAY DOES SHOW THE IMF / WORLD BANK AND UNITED NATIONS THEY ARE SERIOUSLY GETTING IN POSITION FOR BETTER CREDIT RATING AND BECOMING A FULL MEMBER OF THE WTO. THIS IS VERY ENCOURAGING…THE RATE HAS TO BE IN OUR NEAR FUTURE.
______________________________________________________________
mike (Dinar Guru) – I’m going to watch and see what the Investment Law really has in it. One of the sticking points so far is about land ownership, many don’t want investors to actually own the land where they build their businesses…If Iraq actually crafts a law that protects and encourages outside investment, we’ll know they’re serious about attracting foreign capital, If not, I don’t think much will happen on this front. I know there are many who believe major investors are chomping at the bit to get into Iraq, but I just don’t buy it. I’m looking forward to the day when Iraq unites and does what’s best for themselves and their people, once I see that, progress should be just around the corner. [post 2 of 2]
______________________________________________________________
Enorrste (Dinar Guru) – …it seems clear to me that there are a large number of risk takers in the world who are chafing at the bit to get a chance to make some serious coin in Iraq. Only time will tell, and if [Guru] Mike is correct on one thing it is that time has past without a whole lot of change. [reference Guru mike 10-19-15] It is a gamble, to be sure, but it has a lot of advocates around the world. Unfortunately, as ISIS shows us, there are also those on the other side as well. Nothing has changed in terms of the plan, as I see it. What has changed is time and events. Had ISIS not exploded I personally think the float would have started some time ago. Add to that $40 oil prices and the situation is exacerbated to the point of a financial crisis for the country. What amazes me, and stimulates me, is the tenacity of the CBI in the face of these obstacles (not to mention corruption, Maliki, Parliament’s inaction, etc.). In the fact of all of this the CBI holds firm to its planned goals…
______________________________________________________________
mike (Dinar Guru) – If I had a dollar for every article that talked about monetary and economic reform that was “just around the corner”, I wouldn’t need the dinar to increase in value, I’d be rich already. I can remember all the way back to 2012, when Shabibi attended the conference in London, that the articles and others thought Iraq was ready to initiate a change in the rate, why else would Shabibi go to London? Well, here we are, three years later and all Iraq’s done is back up, there’s been very little forward movement. What Iraq is lacking, in my opinion, is the political will to enact the great ideas that the world and many noted economists have suggested. I’m not down on the dinar, nor am I negative, I’m pragmatic about the progress of Iraq. [post 1 of 2….stay tuned]
______________________________________________________________
DinarUpdates.com News Time Chat 10-19-15 PM Part 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!!
Millionday: To that received Zebari 2015/10/19 Monday, at the headquarters of the Office of the ministry, Eckhard Preveza German ambassador in Iraq. During the meeting, they discussed economic and financial cooperation between the two countries and the contribution of German institutions in the investment sector in Iraq and the form in which it supports the 2016 budget.
Zebari also made a presentation of the financial situation and the steps taken by the government in order to overcome the financial crisis started.
Millionday: SO THIS IS OBVIOUSLY TO ADVANCE THE IRAQI ECONOMY AND THE RELATIONS PER — THE STRATEGIC AGREEMENT —
~~~
Read More: http://www.dinarupdates.com/showthread.php?22872-Milloinday-newstime-10-19-15
______________________________________________________________
Aggiedad77 (Dinar Guru) – Article: “Parliament puts al-Maliki on the threshold of a dark tunnel refusing the resignation of Sinead” Parliament rejects the resignation of one member of Parliament that would have likely paved the way for Maliki to rejoin Parliament thus, at least in his mind, provided immunity to him for the crimes he is accused of concerning the fall of Mosul last year in June. This is a huge breath of fresh air from Parliament as a group to stand up and vote against such an action…
______________________________________________________________
Enorrste (Dinar Guru) – Article quote: “An informed source said that the amendment of the paragraphs of the new investment law will give Iraq on a plate for Arab and foreign investor.” …allowing foreign investors to own land in Iraq is like offering up Iraq on a plate to those investors. However…the author of the article was not in favor of the move. I suspect, however, that Abadi is working assiduously to push this through Parliament and that he is confident that he has built the momentum to achieve that goal (otherwise why mention a vote on Monday?). Let’s wait and see. If it includes the ownership provision we could be off to the races, at least as a start. If we are lucky perhaps the CBI, working through Saleh to get to Abadi, will do the same thing on a Banking Law that they have apparently done on the Investment Law. Let’s keep our fingers crossed!
______________________________________________________________
firefly (Dinar Guru) – [It feels things are speeding up the last 3 weeks…] Faster than ever! They have no choice. Watch for Sistani to talk. Remember Sistani word is law! Sistani also told us he going to be more involved in the political arena…HUGE! EVERYTHING Sistani has told Iraq to do, Abadi has done it! EVERYTHING.
______________________________________________________________
DinarUpdates.com News Time Chat 10-19-15 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: WELCOME TO NEWSTIME EVERYONE
Millionday: I HAVE BEEN WORKING ON THE INVESTMENT LAW VERIFICATION — AS MANY OF YOU KNOW — THERE ARE MANY REPORTS COVERING IT
Millionday: BRB — LET ME READ THE ONE I JUST RECEIVED AND I WILL GIVE YOU AN ANSWER
Millionday: THERE HAVE BEEN MANY REPORTS STATING DIFFERENT RESULTS CONCERNING THE INVESTMENT LAW — STARTING YESTERDAY THROUGH TODAY –
~~~
Read More: http://www.dinarupdates.com/showthread.php?22872-Milloinday-newstime-10-19-15
______________________________________________________________
Millionday – Article quote: “...the first deputy speaker of parliament Humam Hamoudi, on Thursday, that the amendment of the Investment Law will be submitted to parliament next Monday, in order to vote on it...” [could they pass the law without activating it, and wait till they are ready to release everything at once?] YES THEY COULD BUT ALL THIS IS OBVIOUSLY FOR A PURPOSE — LOANS ETC — DEVELOPMENT. IMO THEY ARE NOT SITTING ON IT.
______________________________________________________________
Aggiedad77 (Dinar Guru ) – Article: “the Council of Ministers approved at its special session, on Sunday, the draft budget for fiscal 2016…” This is a GREAT thing to read today…the COM approving the budget for the year 2016…now hand this over to Parliament…and take heed of PM Abadi’s request to keep your political fingers off the budget and get this passed in the soonest route possible.
______________________________________________________________
BGG – …I feel we are at the door and how many times we were there..? with BRICS, CIPS and whatever else is out there…we are very close.
______________________________________________________________
DinarUpdates.com News Time Chat 10-18-15 PM Part 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!!
Millionday: READ EVERY WORD >>> He stressed that the contribution of the citizen his money chunky in those banks and companies lead to increased rates of investment, thus increasing economic activities, it returned to investors that a significant role in increasing liquidity and reducing the inflation rate to the fact that their contribution to the project will reduce the presence of money’s value will rise due to lack of supply.
Millionday: SO HE IS SAYING THAT A CHANGE IN VALUE WILL REDUCE THE SUPPLY — INCREASING LIQUIDITY — A HUGE GOAL
Millionday: BANKING REFORM IS NEEDED AT THE SAME TIME FOR ALL ECONOMIC REFORM AND ALL DEVELOPMENT — IT DEPENDS ON EACH OTHER
RickeyT: sounds like a float, thank you
Millionday: THEY HAVENT STATED EITHER WAY —- OPINIONS VARY BUT THE INK HAS NOT STATED YET THAT I HAVE SEEN
~~~
Read More: http://www.dinarupdates.com/showthread.php?22743-Millionday-News-10-18-15
______________________________________________________________
wmawhite – What is missing in the following list of currencies?
1 Egyptian Pound = $0.13
1 Jordanian Dinar = $1.41
1 Qatar Riyal = $0.27
1 Bahraini Dinar $2.65
1 Israeli Shekel = $0.26
1 Saudi Riyal = $0.27
1 United Arab Emirates Dirham = $0.27
1 Omani Riyal = $2.59
1 Kuwaiti Dinar = $3.31
1 Iraqi Dinar $0.00085
…think of sesame street…”from the list of currencies what is not like the others?” From the list of currecnies, which country has the largest economy? [the largest economy to be Iraq and the currency has leading zeros…which shows it’s weak at the moment.] Very good…actually the current value is not weak…it is actually…worthless. Yet, many of the other countries that have only a fraction of the GDP have currencies valued a 1,000 times greater.
______________________________________________________________
Enorrste (Dinar Guru) – I, for one, remain cautiously optimistic that the plan is moving forward, even though at a snail’s pace… I see that pressure is increasing to make a “leap” forward. The passage of the Investment Law this week, hopefully, will be a big step in the plan because it will open the door for protected investment and land ownership from foreigners…we could begin to see a significant increase in foreign investment in the near term. Then we need some banking relief through a new Banking Law. Third, we need to see the introduction of the large 50K notes. Reducing the Iraqi money supply…will lead to a rise in the value of the dinar. Once this process begins, hopefully before the year ends, I foresee a rapid rise in the value of the dinar…most importantly due to the influx of new money from abroad. I’m actually excited to see this plan laid out in detail for the first time. [post 3 of 3]
______________________________________________________________
Aggiedad77 (Dinar Guru) – Well from the sound of initial reports we should be hearing that the COM approved the budget today and will be forwarding it on to Parliament where there is a request to keep political differences away from the budget process and get this budget approved as quickly as possible…well I’m not holding my breath yet for that to happen…be looking today for a vote on the Investment Law by Parliament if they hold true to their word.
______________________________________________________________
DinarUpdates.com News Time Chat 10-18-15 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: WELCOME EVERYONE TO NEWSTIME
Millionday: Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani confirmed that a large privileges will be granted to investors.
He said al-Bolani’s (IMN) “The investment law is the beginning of the stage is handled many obstacles they encounter generally Marqlat investment,” noting that “the public sector’s participation in the implementation phase of the projects and their participation is a key supporter in the investment process.
Millionday: NOTE — THE INVESTMENT LAW — WHOOOPOW
~~~
Read More: http://www.dinarupdates.com/showthread.php?22743-Millionday-News-10-18-15
______________________________________________________________
Enorrste (Dinar Guru) – The article is also fairly clear on those elements that have caused the “plan” to be stalled to a large extent…in addition to those things that we have always known, there were a couple new points made that make the lack of progress more understandable. The article is also specific in that it sees that the role of the government is obstructive rather than helpful in moving toward a more open market driven economy. It is my view that Abadi is a good guy and that he is actually looking for ways to help move this process along. Ideally, the CBI will give him suggestions that he can implement unilaterally (without approval from Parliament) to remove some of the strings that exist in government funding and expenditure, reducing the move to a market economy. [post 2 of 3….stay tuned]
______________________________________________________________
Millionday – Article quote: “…the first deputy speaker of parliament Humam Hamoudi, on Thursday, that the amendment of the Investment Law will be submitted to parliament next Monday, in order to vote on it...” THIS IS THE FINAL VERSION OF THE AMENDMENT…THEY PLANNED ON VOTING IT THROUGH LAST MONTH IT APPEARS BUT — THE FINAL AMENDMENT GOES ON MONDAY. THIS WILL OPEN IRAQ FOR FOREIGN INVESTMENT — WIDE OPEN IT SAYS…KNOW HOW HUGE THIS IS? HUGE.
______________________________________________________________
Enorrste (Dinar Guru) – Article: “Monetary policies in Iraq and proposals for the next phase applications” We are all, or at least most of us, frustrated that the CBI has seemed to be unable to move “around the corner” leading to a rise in the value of the dinar…this article for once outlines in detail…the fact that the CBI definitely has a plan and that the plan includes, first, stabilizing the dinar rate, then second, raising the rate, and, third, eventually removing the large notes from circulation ( a clear goal of at least $1 for the dinar). Therefore, if nothing else, this article is a confirmation that the overall plan remains in place in spite of the obvious drawbacks. [post 1 of 3….stay tuned]
______________________________________________________________
Commercial Solicitation
______________________________________________________________
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/
______________________________________________________________