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…

Matthew 5:16 (NKJV)

16 Let your light so shine before men, that they may see your good works and glorify your Father in heaven.

Heavenly Father, Thank You that You are the Father of lights! Let everything we do glorify You in heaven! In Jesus Name, Amen.

Mrs BGG

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CURRENCY CODE SELL BUY

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

Indicative rates – 11.09.2015

http://www.cbi.iq/

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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. – Plato

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*** Current Posts ***

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Mnt Goat (Dinar Guru) – So far we are seeing everything is on path for a late Dec 2015 or early 2016 RV window of opportunity. We are now into the second week of November already and I we see this movement to get the budget completed going on. As we inch our way towards December the progress we have been long awaiting is happening each week and all is looking very good.  Iraq is targeting Dec 1st to complete the budget and have it passed thru parliament.  2015 told us about the plan to use the new 50k and 100k notes. Said they would launch the 50k notes before the end of 2015.  These notes are not part of the provisional post war notes but will coincide with the new permanent money of minted coins and lower denominations.  We must watch and wait for them to launch these 50k notes as a sign the RV is close at hand.   [post 1 of 2….stay tuned]
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Frank26 (Dinar Guru) – THE HOLY MEN IN IRAQ ARE BEING LED BY THE #1 HOLY MAN SASTINI AND BARKING AT THE PARLIAMENT TO GET OFF A’S [ABADI’S] BACK AND IMPLEMENT THE REFORMS WHICH THERE ARE MANY OF.  THE MONETARY REFORM IMO…BEING THE MOTHER OF THEM ALL RIGHT NOW.  THESE HOLY MEN ARE HIGHER THAN ANY COURT IN THE LAND OF IRAQ RIGHT NOW.  THEIR RELIGIOUS FEAR IS SUPERSEDING ANY REMNANTS OF A DISINTEGRATED REGIME OF MALIKI’S OLD  FEAR.   SATURDAY MY OPINION WAS THAT THE LD’S HAD LEFT THE USA.
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Kaperoni (Dinar Guru) – ...Maliki and the CoM were the problems/holdup under Shabibi holding up everything he tried to do.  In fact, once stating..”we demand…”  So IMO the CoM is very important.   The very fact the CoM is on board (it appears anyway) is a great thing!
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BGG – Article quote:  “the Council of Ministers may ask the Central Bank “soon” to leave the currency auction and resorting to “float the dollar”; because according to sources provides state what it called “significant returns Dinareh”, to feed the state treasury, the dollar exchange rate…”  While I am not sure it’s going to be some measure of a “float” (though it may well be what they finally resort to)… what is VERY INTERESTING is the timing. …it fully appears they are headed towards some currency adjustment with the intent of bridging this budget gap…  It sounds like to me – (the “float” term could mean several things)… they are intent on something happening soon.  …my opinion (and that is all it is…) – if such an event occurs – it will likely move up very quickly (relatively speaking, of course)…IMHO – it won’t take long to reach a realistic value (and that is what would help their budget).
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Stryker (Dinar Guru) – “Parliament agenda number 35 Tuesday 10 November 2015.”  “Fifth: The first reading of the draft general budget of the Federal Republic of Iraq for fiscal year 2016 (the Finance Committee, the Legal Committee). (Article 38).”  URGENT: 2016 BUDGET IS ON PARLIAMENTS AGENDA.
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tman23 (Dinar Guru) – They have the AML and Investment Law…But neither is activated…They have the salary ladder hanging … and there is 2 things we are missing (do not know exactly what they are) for the “five axes” to the reforms… Then Abadi will announce the SECOND PHASE… I am assuming the second announcement will be BIG.
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Enorrste (Dinar Guru) – Article quote:  “the Council of Ministers may ask the Central Bank “soon” to leave the currency auction and resorting to “float the dollar”   So now we have the finance committee in Parliament (at least Jabouri), the Council of Ministers, the IMF, and the CBI all on the same page.  There is no more serious talk of not moving to the float.  Instead, the talk is essentially one over timing.  Saleh is insistent, and correct, thatthe final decision with regard to timing is in the hands of the CBI.  They are on records with several recent articles now stating that they wish to reduce the money supply in Iraq.  This can only be done with the raise in the value of the dinar.  Those few who are pushing for the float so that the value of the dinar will go down are, to put it nicely, ignorant as to how the process works.  As long as the CBI is in charge the value will not be allowed to fall, period.   Therefore, I am still cautiously optimistic that the float will commence before the end of the year or early in 2016.
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DinarUpdates.com News Time Chat 11-08-15 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: NOTE — SOME BANKS DID NOT FOLLOW REGULATION SO THEY WILL HAVE TO MEET ORDERS GIVEN DUE TO THIS BEFORE THEY MAY GO FORWARD— LEGAL ORDERS

Millionday: The statement said that” Among those actions prosecution by Iraqi courts in addition to his imposing heavy fines and being Asthsalha now, “noting that” the bank’s audit teams continuing to work in this field with the coordination and inform the competent judicial authorities offenses or values the amounts obtained for this purpose.

Millionday: “It is noteworthy that the Iraqi Central Bank decided, in (June 9, 2015), depriving the 14 banks from entering the window buying and selling foreign currency, as he emphasized that depriving these banks will continue until the payment of the amounts discharged.
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Read More: http://www.dinarupdates.com/showthread.php?24272-Millionday-News-11-08-15
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Mike (Dinar Guru) – Article:  “Dr.. The appearance of Mohammed Saleh *: savings imbalances in Iraq: vision diagnostic **”    It’s pretty clear that Saleh understands what’s going on…   Like Saleh said…borrowing won’t work and they can’t change the price of oil, the only thing they can do is get the economy up and running.  I just don’t see how they can do that without an internationally accepted currency to purchase imports with and the tariff’s to protect those brave enough to start businesses in Iraq.  
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tman23 (Dinar Guru) – Abadi will announce another turn…AGAIN…the next announcement will have to be something to do with the 3 zeros…and this will need a rate…and this will have to come before the start of 2016.
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Iraqi Dinar/Dollar auction (most recent listing) 11-09-15 

Currency Auctions Announcement No. 3068

This daily currency auction was held in the Central Bank of Iraq on the 11-09-2015

The results were as follows:

More: http://dinarupdates.com/blog/
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wmawhite (Dinar Guru) – The Investment Law passed the house/parliament a week and a half ago. The HydroCarbon Law is already a law and has many parts to it that still must be negotiated for implementation.  [whats next in this ” Investment”?]    They have told us…continue reforms and “activate the private sector.”…IMO.   also, by reading the articles from this past week there was one central message from everyone… “We do not have time to waste…we must change now.”
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Frank26 (Dinar Guru) – This morning another Iraqi Cleric went on Iraqi TV — (but this guy is kind of a bad guy who has been a pain to the USA for the last 12 years)  but it appears that even he has joined Abadi and Sastani…as he has stated on TV through the mosques…said they had a “pow-wow” last night and there is real change coming to Iraq…that reforms would need to get done …and parliament needs to get the reforms done.  All of the sudden everyone has turned 180 degrees and are now supporting the reforms.
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Enorrste (Dinar Guru) – It also confirms, again, that the CBI longer term strategy is to reduce the total money supply and raise the value of the dinar.  Unfortunately…the lack of political will seems to turn this into a snail’s pace operation. We can only wait. I am heartened that the goal is still in place, though, and I personally believe that we will see movement either by the end of this year or early next year.   [post 3 of 3]
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DinarUpdates.com News Time Chat 11-08-15 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: Ministry of Oil continue its consultations to amend the contracts for the international oil companies operating in Iraq, in light weights because the amendments include participation b »profit and loss».

A spokesman for the Oil Ministry, Assem Jihad, in the interview that «the ministry is continuing in consultation with international oil companies operating in Iraq, to review the licenses obtained by decades », indicating that« includes a review held every oil field on the unit to reach a new agreement on it achieves the benefit of both parties, according to the understanding between them ».

Millionday: NOTE — THE OIL CONTRACTS WERE UNDERSTOOD TO BE AMENDED DUE TO UNDERSTANDING BETWEEN THEM — THE AMENDMENTS ARE ABOUT PROFITS AND LOSS — FIGURES
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Read More: http://www.dinarupdates.com/showthread.php?24272-Millionday-News-11-08-15
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Enorrste (Dinar Guru) – Artricle quote:  “He said that the reduction option easy, but it does not help in the reform of the structural problems, and the local currency is good for exporting countries cut to stimulate exports. He added that “Iraq importing country, and to reduce the currency hurt the purchasing power of citizens with limited income.”  Here we see that the CBI is specifically rejecting the suggestion to devalue the currency, even though it may appear on the surface to be an “easy fix” in terms of bringing more money to the GOI. The fact that the suggestion is rejected is very positive for our investment. It shows that the CBI is not about to go one step backward prior to moving forward. [post 2 of 3….stay tuned]
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Stryker (Dinar Guru) – This shows that Iran doesn’t have the influence over Abadi that they had over Maliki and also shows that Abadi won’t be pushed around by Iran. With PM Abadi’s formation of a new parliament coalition, along with his support of from the highest clergy in Iraq and all the talk and need for currency reform, Iraq just may have what it takes this time to see it all through. One thing for sure, a new non-sectarian national unified Iraq will have the best chance of seeing the 2016 Budget passed before the end of this year and the launch of Iraq back into the economic global community in 2016 as well. Both something Iraq is long over due for!   [post 2 of 2]
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Enorrste (Dinar Guru) – Article quote: “…the sale process of the dollar means the withdrawal of the dinar from the local market, which will help the bank to curb money supply and reduce the resort to printing more currency.“  This is consistent with the CBI stated goal of reducing the money supply. As the money supply drops the value of the dinar will rise, over time. The introduction of the 50000 dinar notes does not affect this process…because the introduction is an “even exchange” in which two 25000 notes are replaced with one 50000 note. Thus the introduction itself has no effect on the money supply.  [post 1 of 3….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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