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 1:20 (NKJV)

20 For all the promises of God in Him are Yes, and in Him Amen, to the glory of God through us.

Heavenly Father, we give You all the Glory! Thank You that all of Your promises in Christ are Yes and Amen!

Mrs BGG

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CURRENCY CODE SELL BUY

Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing

Indicative rates – 11.04.2015 

http://www.cbi.iq/

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Attitude is a little thing that makes a big difference.
Winston Churchill

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*** Current Posts ***

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Frank26 (Dinar Guru) – It costs millions per month for Iraq to keep their currency at 1166. There is a NEGATIVE factor each month in running the country at that rate.  Loans saved them each month. Their budget…was saved with artificial loans and money… ADRS (Abadi, Dr. Shabibi and Sastani) – got the green-light back in March.  Iraq is not going into bankruptcy.  Time has run out!   How do we know that TIME has run out? Countries are visiting DC and their currencies are going up in value.  Remember I showed you the China currency last week? China is printing a new 100 note. Many other countries prepare their currencies too.  IMO – Dr. Shabibi will take the green-light given to him by the IMF and move forward.   [post 2 of 2]
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Frank26 (Dinar Guru) – I would like to invite you to a new “qualified” Iraq – where laws have been amended…security in place…to Iraq’s international fair. This fair is done every year…and is a call to arm Iraq “internationally”.  Iraq is poised to show their growth to the world. The world awaits the monetary reform. The price of oil is not a concern…Iraq’s oil will be used to hurt Iraq’s enemy.  This year…VERY LOUDLY…the IMF…the father of the world’s rate…gave their appointed Central Bank Governor permission...   This month of November is going to be very eye opening.  the CBI is in the process of lifting the 3 zeros.  I am EXPECTING to see the lower denoms this month…if not…then things may move into the 1st quarter of 2016.   I told my staff of a particular date. November is going to be pretty fun. In November…time is up.  [post 1 of 2….stay tuned]
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firefly (Dinar Guru) – Unless the laws have changed IMO a float is not a possibility unless it’s a managed float.
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Adam Montana (Dinar Guru) – […what dictates that the RV has to take place…?]  I’ve always said 3 things need to happen:  1. Stable GOI (Done!)  2. Chapter 7 (Done!)  3. HCL (ALMOST!)
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tman23 – The salary ladder was a necessity and the rates being paid were a sour subject with the World Bank/IMF… This is not Abadi pulling a rabbit out of the hat but rather the strings attached from the World Bank/IMF… The new salary scale does not meet the market prices…therefore it is reasonable to assume a rate must be applied along with the lifting of the 3 zeros… The salary scale will go through… I am 1000% sure of that…and 1000% sure the zeros are due to be lifted…IF correct in meeting the needs in the market place…the rate would work out to around $2.66…but that is just IMO through cutting in rough numbers.
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tman23 – There is no doubt that this monetary change has the best chance we have ever seen of happening before the first of the year…AND Abadi is in a pressure cooker that is about to explode… He doesn’t have until mid next year, and IMO he doesn’t even have 90 days… 
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Adam Montana (Dinar Guru) – …and YESTERDAY it was announced that Parliament plans to include the HCL into the 2016 budget. That by itself wouldn’t be too impressive – we see fluff from Parliament all the time. But THIS time they included verbiage that specifically states how it’s going to work. The Kurds will honor their oil commitment, or they get their funds cut off.  This also means that their funds will not be cut off, provide they honor their agreement… and by putting it in the budget, that’s almost as good as passing the actual Law.  Let me put it another way – generally these announcements are one-sided, and we can always expect them to go back and forth on it.  THIS announcement accommodates BOTH sides, and is the single most solid evidence that we are moving forward that I have EVER seen on the HCL.   [post 2 of 2]
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Adam Montana (Dinar Guru) – Yesterday we saw some of the best news to come out of Iraq in a LONG time!  I know I’ve been positive about the dinar for a few weeks, but now I’m actually EXCITED!  As I’m sure you’re aware, we have had a Hydro Carbon Agreement for some time now. That’s fine and dandy, but I don’t believe it was possible to see an RV of any significance until there is a LAW on the oil agreement. Maliki kept progress at bay for years… As of beginning of this year, Maliki was ousted and now we have Good Guy Abadi at the helm, and for a few months he was a rock star! We saw a flurry of progress…and then it all slowed down. We had nothing major to get excited about over summer, and we all wondered when, or if, things would ever get moving again. Well, as of a couple weeks ago we started seeing some hints that things might be picking up speed again…   [post 1 of 2….stay tuned]
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Frank26 (Dinar Guru) – We’ve seen recently that Dr. Shabibi has started talking once again about the lifting of the 000’s… PM Abadi was at the mosque Sunday evening…he did speak to the citizens…telling them he was offering a full life of security, stability, prosperity without exception to the upcoming EID…Where did these strong words come from…as we’ve said there are EXPECTATIONS for November…NOVEMBER IS GOING TO BE LIKE A WATERFALL!  …all this is phenomenal news. Now is the SEASON…to be PROSPEROUS.   [post 2 of 2]
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Frank26 (Dinar Guru) – …the US of A stated they were withdrawing USD’s temporarily from Iraq…there was some excuse about funding terrorism/DAASH/ISIS or some such thing…probably a valid concern at some point…in the past.  …the first week of August…this is when the US actually stopped sending USD to Iraq, loans were being made in USD up to that time…but it all stopped, yes terrorism was to blame, partially.  What we need to keep in mind is that Iraq cannot revalue their IQD as long as the USD is being used in Iraq.  For the time being Iraq has essentially eliminated the USD from their diet….this was to happen by 1/1/2016 but has happened already…they are FAR FAR ahead of schedule.   [post 1 of 2….stay tuned]
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Poppy3 – IN THIS MEETING TWO DAYS FROM TODAY [TUESDAY] WITH THE IMF THERE WILL BE RATE DISCUSSION TO DECIDE WHEN FUNDS FROM THE LOANS WILL BE RELEASED. GETTING THE LOAN IS ONE THING BUT HAVING THE FUNDS RELEASED IS TOTALLY SOMETHING ELSE ENTIRELY. REMEMBER BUYING YOUR HOME THEY WANT TO KNOW UP FRONT HOW THEY GET PAID BACK AND A PROMISE WONT CUT IT…THEY WILL DEMAND ACTION IN WRITING AND ACTED UPON.  
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BGG – Seems like a VERY big push against cash/CBI/instituational corruption right now… ask yourself – WHY??
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The low value of the dinar has fallen year savings diminish chances of «float» Dollar

Mohammed Hadi

Baghdad – Cannot for the proposal “floating dollar” stand up to the vagaries of the market economy; in light of the decrease of the local currency’s value against a difficult and declining public savings level, offset by higher imported goods prices, and therefore “chronic increase” occur in the general inflation levels, Despite assurances from economists that the “float” may provide financial liquidity, but not for a long time, because of the survival of the Iraqi economy’s dependence on import, and the exchange control doors were still weak by the government.

Former officials at the Central Bank shows that one of the terms of the flotation assumes a Private sector next to the Central Bank is asking the dollar to the market as well, but in Iraq, the Central is the only body that pump the dollar for the domestic market, which creates “confusion” in the marketplace work.

The officials pointed out that the idea of flotation, require “do not specify a certain amount to put dollars into the market. ”

She talks media leaks that the government will be forced to float the dollar, in the case failed to apply the new salary scale; where he sees Supporters of this proposal is that it will be the key to resolving the financial crisis that hit the country…

More: http://dinarupdates.com/blog/

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Millionday – I THINK THE RATE AGREED ON WILL BE RELEASED — AND THEN IT MAY FLUXUATE BUT ONLY IMO AT A 2% SWING.  I MEAN THE TOOLS THAT CBI HAS — IT WILL BE MANAGED TO ONLY MOVE ONE WAY OR OTHER 2% — IMO.  IN A SPEECH BY CBI GOVERNOR — THEY ARE READY TO RELEASE THE RATES — IMO.
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Mike (Dinar Guru) – Why would Jabouri believe they could add value to the dinar when they can’t maintain the value now?  Move to Article VIII, which will essentially remove demand for the dollar, and then the dinar will begin to rise as the economy grows.  Heck, it’s clear what Iraq’s motive is, they want to save the GOI money.  If they thought the dinar would rise, they wouldn’t spin it as an alternative to cutting the salaries.  In the end, Iraq and the CBI control the value of the dinar through the auctions, history has proven that to us. When they capped the auction’s in February the dinar started to slide, in April the rate fell to 1300-1.  Add in the tariff’s and the dinar lost further value.  They need a solid foundation before they turn this thing loose in a float, IMO.   [post 2 of 2]
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Mike (Dinar Guru) – Article quote:  “The recommendations stated on several alternatives to make up for the deficit in the financial budget instead of the new peace, most notably float currency for the high price of the dollar against the Iraqi dinar…”  Haitham Al-Jabouri apparently doesn’t realize that most currencies in the world that float are internationally traded and used to purchase imports.  Iraq isn’t there yet.  All of this would be a great idea if Iraqi’s could buy Turkish tomatoes with dinars, right now they can’t.  The IMF has told them many times they need to get the street rate within 2% of the official rate and so far, they haven’t had much luck maintaining that. [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (from) 11-04-15 

Currency Auctions Announcement No. 3066

This daily currency auction was held in the Central Bank of Iraq on the 11-04-2015

The results were as follows:

More: http://dinarupdates.com/blog/
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tman23 – In October 2012 Abadi [Does he mean Shabibi??] made an announcement in media about it being time to lift the 3 zeros and they were planning on doing so if the new currency could be ready before January if there was time.  Days later Maliki had the courts issue an arrest warrant for Shabibi. During the sept/oct iisd post 2015 summit an article was out about the iisd.   What we knew back in 2012 was Shabibi was in Japan for a convention.   That convention turned out to be meeting with the iisd. NOW…straight from Japan a loan for 3 billion dollars…  We are in the same time frames as 2012 when they were preparing to lift the 3 zeros by the first of the year.
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firefly – [IRAQ WANTS A LOAN FROM THE IMF TO MOVE FORWARD…]  NOBODY is going to loan Iraq anything anymore at 1166.  Something is definitely stirring on their side of the pond!  Iraq has many many contracts waiting for the go…   So Iraq is meeting with the WB AND the IMF, both early this month. Things that make you go Hmmmmmm.
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Millionday – [Do you see this happening before Iran sanctions are lifted? I thought I read they will be lifted on the 15th of November.]   I DO NOT KNOW THE DATE…AT ALL — MANY ARE GUESSING IT HAS TO DO WITH IRAN SANCTIONS — I THINK THAT IT ONLY HAS TO DO WITH CBI AND IRAQ RIGHT NOW — REFORMING THE COUNTRY TO A MARKET ECONOMY.
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DinarUpdates.com News Time Chat 11-04-15 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 Millionday!!

Millionday: LOTS OF NEWS TODAY

Millionday: BEFORE WE BEGIN I AM GOING TO SHOW YOU WHAT I HAD TODAY IN CASE YOU WERE NOT HERE

Millionday: THIS WAS PART OF A SPEECH BY CBI GOVERNOR

Millionday: He added that the central bank a day in the initial exchange market (referring to the lack of a future market for the currency or market options) and expresses its readiness to secure the display of foreign currency (dollars) to cover the need for demand to ensure the strengthening of the national currency and gradually to maintain stability at the target in each stage or period of revaluation ranges .

Millionday: SO AS WE SEE — HE IS ANNOUNCING THE READINESS TO ENSURE THE STRENGTHENING THE NATIONAL DINAR AND MAINTAIN STABILITY IN THE STAGE OF >>>>>>>>>>>>>>>>REVALUATION

Millionday: WHOOOPOW

Millionday: THOUGHT YOU WOULD LIKE TO SEE THAT
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Millionday: Hussein al-Tamimi Tgb began actual cooperation to rotate the wheel of industrial production in Iraq stage in cooperation with the Lebanese private sector, which has great expertise in many industries, especially after he proved remarkably successful at the international level and supported in the biggest international companies will investigate the economic feasibility of the two countries.
~~~

Read More: http://www.dinarupdates.com/showthread.php?23877-Millionday-News-11-03-15
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Enorrste (Dinar Guru) – Article quote:    “The recommendations stated on several alternatives to make up for the deficit in the financial budget instead of the new peace, most notably float currency for the high price of the dollar against the Iraqi dinar...”    This ties in with the other recent article that stated that the CBI was going to go “on the attack” with respect to getting the dinar value raised.  Now this article is saying that Abadi is behind the plan all the way.  I won’t be surprised to see the dinar released to a float prior to the end of this year or early in the next.
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Kaperoni (Dinar Guru) – Article quote:  “The recommendations stated on several alternatives to make up for the deficit in the financial budget instead of the new peace, most notably float currency for the high price of the dollar against the Iraqi dinar…”   My take is Saleh is telling Abadi to forget about the salary scale and just float the dang currency!  I’m for getting off the peg and let it rip good or bad.   I really don’t see how it could go down with the Investment Law on the books and the soon to be deposit insurance act.  Iraq is about to receive a huge influx of capital for investment.  Only one way to go…up.
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Frank26 (Dinar Guru) – In the last 24-48 hours we’ve seen several articles that state they are going to delete the 3 zeros.  IMO – Abadi is now shifting things to a market economy … the only way to do that is to tell these “investors” in back-rooms that they are about to raise the value of their currency. This is HUGE!  Time is up and they can’t afford to walk into next year … bankrupt.  They can’t go bankrupt…that would be a LOP…and that is not the goal of Iraq nor the United States.
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“Round Table” Dinar Call!!

“for Dinar News – that MATTERS!!”
from Tuesday 11/03

Smart phone user link – Click here

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EXOGEN (Dinar Guru) – Article quote:  “Parliamentary Finance Committee, announced Tuesday, that the financial budget for next year will be included on the agenda of the next meeting of the House to read the first reading.”
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tman23 – [ya think early 2016?]    IMO… BEFORE! They will need to open 2016 with the 3 zeros lifted.  No money for the people and cut salaries…This is the defining moment!   Either Abadi “flips the switch” per se’ and opens with some purchasing power to the currency…OR Maliki and his opposition will be able to flip the country with very little resistance from the citizens… really is that simple!   [post 2 of 2]
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tman23 – Zebari, the Finance Minister said in an official statement that by the end of the year Iraq will have only spent 60% of the 2015 budget… So how is that? And another Minister said that November is going to be a huge economic crisis month… From the outside looking in… it appears that they are setting up for something different then just salary cuts… the cuts are an adjustment to the lifting of the 3 zeros…and the cuts give indications that lifting the 3 zeros is not a neutral event, but rather going to add value to the Iraqi dinar…  [post 1 of 2….stay tuned]
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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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