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…

Psalm 18:30 (NKJV)

30 As for God, His way is perfect;
The word of the Lord is proven;
He is a shield to all who trust in Him.

Heavenly Father, Thank You that Your way is perfect! Thank You that You are a shield to us! We trust in You 🙂 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 – 12.02.2015 

http://www.cbi.iq/

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It is dangerous to be right when the government is wrong. – Voltaire

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*** Current Posts ***

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BGG – …they have had LD’s printed and ready to use for quite some time…LD’s won’t be a hold-up…the only reason we see no LD’s – is because they are of little use (currently)… when they are – we will see them.  Ask yourself this – why would they print them and have them on hand, if they didn’t intend to use them (eventually)?
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Kaperoni (Dinar Guru) – Article quote: “According to a statement of the bank, “Eye Iraq News” received a copy of “The size of the amount sold today reached 179 million, and to $ 760 000, priced at 1166 dinars to the dollar exchange rate, with the participation of 24 banks and 16 financial company to convert.”   It is clear from this that the new price has not been reflected in the auctions yet..  So I would not assume the spread is in compliance.  Once the new price changes, we may very well see the spread change accordingly.
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wmawhite (Dinar Guru) – [can you comment on the cbi rate change?]  Yes…interesting that the IMF has the CBI “by the hand” and this is the first move in how many years?  Just speculation…get the Buy/Sell to a point that is stable in preparation for de-pegging from the dollar.  ...we are at the point, IMO, that as the IMF has told the world that they expect Iraq to re-enter the “markets” by the first half of 2016.  Nothing has changed. The world has been told what to expect. Knowing this, what has to change with the IQD in order for it to re-enter the “markets”? Answer: a tradable/recognized currency…that reflects the true value of Iraq.
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Millionday (Dinar Guru) – THE REASON THAT THE CHANGE IS DONE IMO IN CBI FOR THE EXCHANGE RATE HAS BEEN TOLD TO US TWO DAYS AGO.  THE FIRST THING IT IS SUPPOSED TO DO IS BE ADJUSTED FORMALLY FOR THE COST OF LIVING /INFLATION ETC.  THAT WAS IN INK TWO DAYS AGO… THIS IS HUGE NEWS…GREAT NEWS.  THIS MEANS THAT A STEP THEY STATED WAS TO BE DONE HAS BEEN DONE IN ONE DAY.  WHEN HAS THAT HAPPENED?  THEY LAYED OUT THE STEPS AND THE FIRST WAS A VALUE ADJUSTMENT — THIS HAS BEEN DONE RIGHT AWAY.   THIS IS THE FIRST STEP THEY WERE DISCUSSING — SO KNOW I AM VERY EXCITED. THEY ARE DOING EXACTLY WHAT THEY SAID AND THAT IS NEWS IN ITSELF. THIS IS FAST MOVEMENT.  THEY ARE WORKING AND MOVING — THE TRIP TO BRUSSELS WAS CANCELLED TO VOTE IN THE BUDGET. THIS IS GREAT NEWS.
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sczin11 (Dinar Guru) – THE CBI WEBSITE HAS…WELL, CHANGES AND…WOW!  DINAR EXCHANGE RATE DOWN…CURRENCY CODE SELL BUY US dollar USD 1182.000 1180.000…MARKET RATE…POSTED AT 1214.  DECEMBER 2, 2015…. IQD EXCHANGE RATE DOWN…WRONG DIRECTION? THIS IS ONE OF THE WEALTHIEST PIECES OF LAND IN THE WORLD!  TRADE GLOBALLY IS A MUST.  THE WORLD AGENCIES, INCLUDING, BUT NOT LIMITED TO THE IMF AND WORLD BANK, AS WELL AS THE INTERNATIONAL COMMUNITIES, ARE WELL AWARE OF THE STRUGGLE WITHIN THE POLITICAL SYSTEM OF IRAQ, YET THEY REFUSE TO ABANDON SHIP…THEY CONTINUE AT ALL COSTS, MONEY AND LIVES, TO STAND BY AND WAIT FOR CHANGE…AND FOR THIS REASON, AND THIS REASON ALONE, WE SHOULD ALL CONTINUE TO PERSEVERE!  REMEMBER…FOLLOW THE MONEY!
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OOTW (Dinar Guru) – DURING THE KOBER INSTITUTE INTERVIEW, ABADI WAS ASKED HOW IRAQ COULD EXPAND THEIR ECONOMY IN ORDER TO MEET / REPAY FINANCIAL OBLIGATIONS, VIA LOANS FROM OTHER COUNTRIES – AND HE SAID THAT THE PLAN WAS TO IMPLEMENT THE TARIFF’S AND GET THE PRIVATE SECTOR GOING…SO…THE 2016 BUDGET LAW HAS WITHIN IT,  GUIDELINES STATING THAT THE TARIFF’S WILL BE IMPLEMENTED 2016 – WHEN IN 2016 IS ANYONE’S GUESS – BUT STILL, THIS IS VERY GOOD NEWS.
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Iraqi Dinar/Dollar auction (most recent listing) 12-02-15 

Currency Auctions Announcement No. 3086

This daily currency auction was held in the Central Bank of Iraq on the 12-02-2015

The results were as follows:

More: http://dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article quote:  “He stressed that the central bank «being reviewed in accordance with international standards.”   Which means they are working with the CBI to get them into compliance (Article VIII). It does not get really any clearer.  There is no reason not to believe that over the next few months that the CBI will achieve compliance.  The IMF and the world’s best financial people will help the CBI.  So despite what we all might think of Allaq, getting the banking system open and the dinar in Article VIII is now a priority. I think we all can agree, for the first time in a long time, Iraq has a clear goal for monetary policy. We just have to wait and watch.  For someone like me who has been in this and watched lots of ups and downs, this is rather exciting.
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wmawhite (Dinar Guru) – […does Iraq have to be in Article 8 before they can have an internationally currency?]  Article 8 is the “Good Housekeeping Seal of Approval” to the world financial institutions.  There are some Iraqi economists that believe the value of the IQD will need to change in value prior to moving to Article 8.   We shall see.
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Kaperoni (Dinar Guru) – “new exchange rate from CBI”  [Is this how they are working toward getting within the 2% spread?]   Since 1182 + commission is the new official rate, 1214 market rate is at or about 2%. 
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wmawhite (Dinar Guru) – [the rate at the cbi has changed…its NOT 1166 anymore.]  When you least expect it, an in conjunction with the IMF, the CBI makes a move to close the 2% spread between it and “street rate”. [See the official CBI rate in the Dinar Guru Resource Bar on the left of this page…]
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Frank26 (Dinar Guru) – Dr. Shabibi is ready to show this new number in the middle of December…the 7-10 day could be for distribution across GLOBAL banks with the 1 to 1 by the first quarter of 2016…then by the end of the year (2016) they will be where they want to be…just ahead of Kuwait…at that point they will cap the rate…that is why it won’t be a free float.  It has to be a managed float so they can cap it once they get to the point where they want otherwise with a free float they have to answer to the 2% growth and it would take like 10 years to get to that cap point. IMO when they cap this toward the end of next year I think they will be between 3.86 and 4.30.  Parliament is back on the 8th of December, will the rate be affected if they don’t vote the budget in…yes if they don’t do the budget and don’t do the taxes and tariffs then this will delay things…we are confident this will happen...  [post 2 of 2]
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Frank26 (Dinar Guru) – We’ve established that Dr. Shabibi is back at the helm…Dr. Shabibi wants this to happen at the beginning of a year or the middle of a year…he said give me a long weekend…they will be gone on holiday starting Wednesday night…all Thursday…all Friday…all Saturday…maybe even Sunday.  Is this timing…yes…it is the perfect storm for the RI…the RI…has nothing to do with numbers…it is a qualification of their country to be introduced into an international market…that is why the IQD is not traded right now, because of the locked program rate…no sanctions left to be filled…all are lifted but there are articles under the IMF but it looks like they are fulfilling them. ...we think they will start about 40 cents for the citizens…then it may wait 7-10 days or may start right away…they may apply this new number in the middle of December.  [post 1 of 2….stay tuned]
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Arthur (Dinar Guru) – And most importantly, we now see the beginning of a special session to finally determine the mechanisms for fair distribution of give and take between the center and the region as well all the entirety of the Iraqi provinces via the HCL agreement that is by all indications embedded within the 2016 budget that has been targeted to be completed in this month of December 2015.   It is now quite evident that the IMF/UN and other controlling PTB entities including China who is now to have a prominent role in the SDR basket of world currencies which will forever change the international economic landscape as we know it putting new pro RV pressures on the Authors Of The Plan that tell us that the mother of all RV windows has emerged between NOW and Jan 15th of 2016.  [post 3 of 3]
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Arthur (Dinar Guru) – There are many factors too numerous to count that makes this EOY totally different than others, but one thing we know for sure is we have never seen a working, full blown and implemented budget in Iraq because conditions have never been conducive in this factionally divided nation for that to occur until now.  Think back to a few years ago when Shabibi himself said that he would RV the currency if there was the requisite level of economic and security stability.  Now think where we are now.  No more do we here about provinces falling to ISIS and fear of green zone encroachment but just the opposite that they are defeating ISIS at every turn with the help of PTB air strikes.  We have seen the purchase of major tonnage of gold over the past several months to back the asset back IQD and a systematic diminution of the note count to make way for the LD’s that by all indication are now ready to be distributed.   [post 2 of 3….stay tuned]
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Arthur (Dinar Guru) – Its probably a good thing that we are so numb to this now  so that this highly anticipated and exciting moment is going relatively under the radar.  In all the years prior most people were really hyped excited as we got close to the 1st of the year and a lot of those years it was just unwarranted excitement driven by rumors.  But I am here to tell you, even without referring to the outstanding positive intel I am getting from places that have never been this RV positive before, that EVERYTHING we are seeing at this particular moment in time points toward some positive change in the status quo as we have known it for all these years. [post 1 of 3….stay tuned]
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