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…
2 Corinthians 1:3 (NKJV)
3 Blessed be the God and Father of our Lord Jesus Christ, the Father of mercies and God of all comfort,
Heavenly Father, we bless You! Thank You that You are the Father of mercies and God of all comfort! 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 | 1284.582 | 1283.940 |
| British pound | GBP | 1789.693 | 1788.799 |
| Canadian dollar | CAD | 891.233 | 890.787 |
| Swiss franc | CHF | 1179.088 | 1178.498 |
| Swedish krona | SEK | 136.885 | 136.817 |
| Norwegian krone | NOK | 136.760 | 136.691 |
| Danish krone | DKK | 172.246 | 172.160 |
| Japanese yen | JPY | 9.647 | 9.642 |
| Special Drawing Rights |
SDR | 1628.750 | 1627.936 |
Indicative rates – 11.02.2015
http://www.cbi.iq/
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It’s not what you look at that matters, it’s what you see.
Henry David Thoreau
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*** Current Posts ***
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BGG ~ Looks like a minor hiccup with the Chat Server again – we’re working on it!!
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Poppy3 – …i did confirm that on TV there yesterday the media announced there would be great economic news during this month. TIME WILL TELL. JUST RECEIVED ANOTHER RUMOR EMAIL THAT THE DONG POSSIBILITY TO CHANGE WEDNESDAY…WELL IF TALK OF IT CHANGING… THEN THE DINAR CAN ALSO BE IN PLAY. WE WAIT AND PRAY THESE RUMORS FROM NY & BAGDAD ARE ON TARGET.
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Follow us on twitter @DinarUpdates !!
Don’t Miss “NEWS TIME” in the DU CHAT ROOM – Monday evening at 7:30pm EST!!
www.DinarUpdates.com – save as favorite!!
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SteveI (Dinar Guru) – Article: “Abadi: Baghdad locked and we are trying to switch to an open economy / expanded” Private sector words are huge. They have talked about this for years that when the value changes the private sector will flourish. Excellent article, and yes this does provide yet another clue as to how close we really are to the end of this ride…
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BGG – Article: “The Official Revaluation of the Iraqi Dinar Started Today, 1 NOV” This is the post going viral (creating the big stir) – Is it good to hear? Yes. However, I don’t believe it for one second. When this happens – it will be everywhere within minutes. End of story…
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Frank26 (Dinar Guru) – In July IMF wanted DRS [Dr. Shabibi] to RI… He said no security yet. So IMF said … While You wait get Yourself INTERNATIONALLY ready. DRS did and so did A [Abadi] as HOLY MAN approved all … FOR HE IS THE HIGHEST COURT OF IRAQ! NOW … You will see … NOVEMBER.
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Iraqi Dinar/Dollar auction (from) 11-02-15
Currency Auctions Announcement No. 3064
This daily currency auction was held in the Central Bank of Iraq on the 11-02-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 202,334,003 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 202,334,003 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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BGG – I just read the agenda for Parliament tomorrow [Monday]: “Ninth: The second reading of a bill defining the mandates of the three presidencies. (Legal Committee). (Article 8).” which tells me – PLAINLY – they are moving ahead with reforms – at full speed. what does this do? It seals off a Maliki third term… should he somehow evade all the pitfalls between here and there – term limits would effectively kill any chance he would have for a third term as PM. Had they done THIS ONE THING long ago – there would have been no ISIS. No Anbar… no crisis – Maliki would have had no option… or big need to reshuffle the voting electorate/districts…which was at the very heart of where we are now.
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wmawhite (Dinar Guru) – [IYO is a lop out of the question or a possibility (even if it is slight)?] If the CBI was going to LOP…in other words, just stop using it currency, then why are they today using their gold to buy the IQD from its citizens. Why buy it if they were going to LOP? NO!!! the CBI is not going to LOP. [You still hopin before the first of the year?] I do not chase dates…however, I believe thay are in a hurry to get to somewhere.
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Enorrste (Dinar Guru) – Finally…it perfectly clear that they want to “raise the price to the desired level.” …I see this as a total commitment to “get the ball rolling” on the part of the CBI. They are clearly as frustrated as we are with the incessant delays and have decided to go on the “attack“… Bottom line: I won’t be surprised to see the street value come up to the official rate and then surpass it before the end of the year. I also won’t be surprised to see the CBI begin the float once the street rate surpasses the official rate. In other words, I think the CBI is ready to insist on freeing the dinar into the real world in the short term (or, as they say in Iraq, “in the coming days”). [post 2 of 2]
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DinarUpdates.com News Time Chat 11-01-15 PM
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
Welcome to dinarupdates.com for News Time with BGG!!
BGG: also – I’ll keep it open for questions – (might turn into more of a Q & A)…
BGG: and nothing is off the table. Ask away.
BGG: What was the biggest News of the day??
maine: in my opinion the biggest news of the day was the Amnesty Law
maine: they getting ready to act on it
BGG: OK – I just read the agenda for Parliament tomorrow
BGG: which doesn’t mean much since they didn’t give us any heads up before the voted on the Investment Law…
BGG: and I guess now that I think about it – Abadi never really promised a “new” Investment Law – just an Investment Law.
BGG: or a better Investment Law (when he was here)…
BGG: However, here was an interesting bit – in the published agenda…
BGG: Ninth: The second reading of a bill defining the mandates of the three presidencies. (Legal Committee). (Article 8).
BGG: which tells me – PLAINLY – they are moving ahead with reforms – at full speed.
BGG: what does this do?? It seals off a Maliki third term… should he somehow evade all the pitfalls between here and there – term limits would effectively kill any chance he would have for a third term as PM.
~~~
Read More: http://www.dinarupdates.com/showthread.php?23643-News-Time-with-BGG-11-01-15&p=135523#post135523
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Enorrste (Dinar Guru) – Artcle: “Central was able to overcome the side effects of currency” This is, without a doubt, one of the best articles we have seen in a long time. It lays out quite specifically and clearly that the GOAL of the CBI is not just stabilizing the value of the dinar but raising it was well. Furthermore, it specifically says that the fact that the GOI was sucking up so much currency to keep the government running will NOT stop them in their goal of raising the value of the dinar. …it clearly lays out the policy of the CBI to do more than just stabilize the currency: It specifically says that it will “maintain stability at the target in each stage or period of revaluation ranges.” The last two words are extremely significant here, because they are saying that they will maintain stability AS THE VALUE RISES for the dinar. [post 1 of 2….stay tuned]
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tman23 – Maliki is right, Abadi’s reforms are illegal according to the Constitution…On the other hand, if reforms are not sought out and implemented, Iraq will crash and burn. November is going to be the deciding factor for Abadi’s future and Iraq. There has been enough media inside Iraq through minister interviews calling for November to be a cash crunch crisis of epic proportions. Makes you wonder how can it get any worse? IMO…Sistani has given Abadi his backing and blessing…AND for Abadi to avoid defeat he needs the support of the people…the salary ladder has a large opposition…if the IQD comes with a new value attached to the new salaries AND the IQD is worth more then the dollar…Abadi will have carte blanche with citizens of Iraq.
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Stryker (Dinar Guru) – …we should start seeing news concerning the deletion of the zeros real soon if I am correct that the first of the year should bring currency reform to Iraq. Not only are we hearing news as I predicted but we are hearing it straight from the horses mouth himself. And he says what we are looking for is probable! [post 3 of 3]
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Allawi is moving secretly to replace Abadi
Iraqi source familiar revealed that the former prime minister and leader of the National Coalition, Iyad Allawi, conducted during the last period the movements and meetings with various parties of the Iraqi political forces, in order to limit the development of what promise in a secret letter to the President of the Kurdistan region, Massoud Barzani, access to a comprehensive breakdown of everything is difficult to avoid what No research group urgent options.
The insider said that “Allawi sent a letter secret to the President of Kurdistan, Massoud Barzani, content that the country today is undergoing a severe crisis, political and security, and the crisis of judgment made him on the edge of the abyss, making it difficult to predict whether Iraq will be able to to hold out until 2017 unless rectify the matter through bold and responsible decisions play on two pillars, namely either stop the Prime Minister Haider al-Abadi when alone, especially its uniqueness power and take ill-considered decisions, or replace it in spite of the difficulty of finding understudy because of the problem of political consensus, or work to strengthen it.
“The source added to say that” Allawi and after that went up with Abadi some time ago on the backgrounds charges Abadi him that his government is that were beginning to legitimize corruption, he began to work on the composition of the lobby of the National Coalition, led by the Federation of Sunni forces, as happened in the light of green from all of the leaders of Moqtada al-Sadr and the Islamic Supreme Council Ammar al-Hakim. ”
Read More: http://www.dinarupdates.com/showthread.php?23693-Allawi-is-moving-secretly-to-replace-Abadi-11-2
BGG ~ Of Course Allawi is – but historically, these maneuvers haven’t gone well for Allawi – why would Barzani CARE?? With Abadi he gets everything he wants. Who would replace him?? Maliki?? Gimme’ a break – no one will put up with that!!
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wmawhite (Dinar Guru) – [what are your thoughts on things that need to happen prior to RV?] I think [we] are seeing them…the CBI will not tell the world this is what they need to do before they change the value of the IQD. However, back in March (March 3, 2015) the CBI told the world that the Delete the zeros project had the green light and it would be preceded by administrative and procedural issues…and that is what IMO we are seeing now. [Do you think it will “cost” iraq anything to RV their currency?] Iraq is NOT selling lottery tickets…it does not cost a country to exchange its currency with another country…they “exchange” one currency for another…[some people say, “they cant afford to RV” like give so much value...?] It is the opposite if they do not…today if they continue it costs Iraq 1166 to 1 USD…that is murder…So if they don’t it will bankrupt them. So revaluing is in their best interest.
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Stryker (Dinar Guru) – Quote: “He said the central bank governor that the issue of deletion of zeros from the currency, will be in the event of an administrative and security stability can control the state of the markets, and the imposition of standardized pricing on goods.” The CBI Governor went on to say that the deletion of zeros will take place in the event that administrative and security stability can control the state of the markets, which we are witnessing…the market rate is stable at 1215. And with other austerity measures underway, the reform packages in placed and implemented, the market rate will remain stable and even gain ground against the dollar over these next few months. Standardized pricing on goods is the key for a large revaluation folks! [post 2 of 3….stay tuned]
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Stryker (Dinar Guru) – Quote: “Keywords and said that Iraq has a reserve of cash currency, which protect him from falling into a severe economic crisis, or the inability of the State to provide the employees’ salaries, and cover the projects, “pointing out that” Iraq reserves estimated at more than 1,500%.” The Governor of the Central Bank of Iraq announced today that Iraq still enjoys a comfortable reservoir of foreign cash currency. He also pointed out that Iraq’s reserves estimated at more than 1,500%, showing us that it is not only possible that the dinar could revalue overnight by a 1,000% but is probable that the real value of the dinar will be at least $1 USD to 1 IQD. [post 1 of 3….stay tuned]
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tman23 – Gotta run….But as I posted early October……The Investment Law would be passed before 10/31….and 11/1 -11/3 had some possibilities moving forward…..I have confirmed a meeting to take place on Friday 11/6 which is strange because of it their Holy day…I joke about the post on “not confirmed” but Iraq revalued….But all honesty, I would not be surprised by such news at this point…
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(SEE BGG NOTES AT END…)
The Official Revaluation of the Iraqi Dinar Started Today, 1 NOV
( Note: This was emailed to us by an anonymous source. We do not confirm whatsoever that Iraq had officially revalued the dinar.)
10/31/2015 1:06
BAGHDAD – Iraq officially revalued its currency today, introducing a new international exchange rate.
The rate changed for the first time since the invasion of 2003. Now with the lower denomination notes delivered across the country, banks have introduced a new and international exchange rate for the Iraqi dinar. Thousands of people lined up to exchange their old Iraqi dinars for freshly printed new ones.
All the higher denomination dinars can be exchanged for new lower denomination ones on a one-to-one rate. The new official exchange rate is 1.16 American dollars for one Iraqi dinar.
The country still faces the threat of the Islamic State. But with the new economical reform, the people of the country are more united than ever.
For citizens exchanging money today, there was little they could do in Iraq. Many of those in line said they planned to use their money for vacations or for shopping trips in the UAE.
“I need to get away from Islamic State and their terrorism,” said Al-Bishr Farhan, an engineer in his late 30’s who said he was withdrawing 2,500 new dinars to take a vacation in the Bahrain.
Imad Hassan al-Jabir, a 40-year-old retired soldier felt relieved as he said, “I feel secure knowing that I have enough cash.”
BGG ~ This is the post going viral (creating the big stir) – Is it good to hear? Yes. However, I don’t believe it for one second. When this happens – it will be everywhere within minutes. End of story…
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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 – see first post in this Thread: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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