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…
Hebrews 13:15 (NKJV)
15 Therefore by Him let us continually offer the sacrifice of praise to God, that is, the fruit of our lips, giving thanks to His name.
Heavenly Father, we praise You! Thank You that this is a month for Thanksgiving! 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 | 1182.000 | 1180.000 |
| Euro | EUR | 1293.463 | 1292.816 |
| British pound | GBP | 1793.803 | 1792.906 |
| Canadian dollar | CAD | 869.182 | 868.747 |
| Swiss franc | CHF | 1198.540 | 1197.941 |
| Swedish krona | SEK | 140.248 | 140.178 |
| Norwegian krone | NOK | 137.063 | 136.994 |
| Danish krone | DKK | 173.365 | 173.278 |
| Japanese yen | JPY | 9.720 | 9.715 |
| Special Drawing Rights |
SDR | 1644.564 | 1643.742 |
Indicative rates – 12.14.2015
http://www.cbi.iq/
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Thought, not money, is the real business capital. – Harvey S. Firestone
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*** Current Posts ***
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Poppy3 – I FULLY EXPECT TO SEE A NEW RATE TO SHOW THEN THE AUCTIONS TO STOP THE NEXT DAY. WE WILL SEE BUT A 24 HOUR PERIOD MAY BE LONG ENOUGH. IF I REMEMBER CORRECTLY DR SHABIBI BEFORE STATED HE WOULD NEED 3 DAYS TO CHANGE? IN THIS CASE DONT KNOW IF THAT STILL APPLIES? [Do you really think this could be the end of the line for our investment. Meaning an RV this week.] I SAID A MONTH AGO BY JAN 1…I STILL THINK THAT IS RIGHT. NOTHING NEGATIVE SINCE I STATED THAT ONLY BETTER INFORMATION. WE ARE CLOSER DAILY NOT STATUS QUO OR NEGATIVE ONLY PROGRESS.
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Mnt Goat (Dinar Guru) – Many events seem to converge on the month of December and now January, and in particular mid December close at hand, so let’s pay close attention to what is happening these next couple months. I believe in retrospect we will say this was a very significant time. I want to keep all of us focused on currency reform. Right now this is exactly what we should be watching in expectation of the launching of the lower denominations. Many sources have told me the plan of the CBI is to launch the lower denominations sometime around early February 2016. Will it occur? We can only wait and watch. [post 2 of 2]
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Mnt Goat (Dinar Guru) – Article quote: “The Iraqi dinar’s exchange rate was equal to $3.3 before the outbreak of the Iran-Iraq War…” …today’s article from Tamami is…informative. It is a GOLDEN NUGGET for us…she tells us the old rate of $3.30 is no longer used for any currency although it has not been officially cancelled. I think she means the old currency was downgraded due to the war and not down graded due to not being of value worth $3.30. This confirms what we already know that they fully intend to raise the value back to at least the $3.30 rate. Some say it’s $3.22 but…You get the point. …I have been told their target is to increase the demand for the Iraqi dinar over the US dollar by increasing the value of the dinar. This is the initial 1:1 par value I have mentioned many times. This is not yet the RV…The RV comes later and will be much more than this initial inflation busting adjustment. It will be $3.30+ and I am told around $4.20ish. [post 1 of 2….stay tuned]
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Frank26 (Dinar Guru) – There are 100’s of LAWS coming into
ACTIVATION NOW. THE MR [MONETARY REFORM] OF THE IQD FOR DRS [DR. SHABIBI] AND HIS CBI IS LOCKING ITSELF INTO INTERNATIONAL POSITION WITH THE GRIP OF MEGATRON.
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Enorrste (Dinar Guru) – I think that it is safe to conclude that withholding the 50k note distribution until the end of January or even in February is because if they did issue them now the locals would just squirrel the large bills away in their mattresses just as they are doing with the 25k notes. Having said that, however, it is also my view that the CBI/IMF must have plans in place to get an FDIC type of law in place prior to the end of January. Once that law is passed and in place then confidence in banking will return. As the people bring their 25k notes out of the mattresses they can be either deposited or exchanged for 50k notes. In either case, the 25k notes get released back to the CBI who can burn them, thereby reducing the total money supply and allowing for upward pressure on the value of the dinar. I conclude, therefore, that we should begin to see a rise in the value of the dinar by early February, including, hopefully, a change in the exchange rate regime to a float.
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Chattels (Dinar Guru) – Abadi said in a speech at the annual Iraq Banking Conference on his behalf by Minister of Planning and Salman al-Jumaili, that…Quote: “…the time has come to activate the economic, agricultural and tourism sectors, stressing that the government is determined to activate the role of private banks.” and “the adoption of the state a new philosophy based on free market economy, privatization is supposed to be based on support measures this transformation and the development of other measures the evolution of the banking sector.” Godspeed the completion of the Iraqi banking sector reform project!
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rcookie – Article quote: “…economic expert, Salah al-Din Kaku, that Iraq depends on oil revenues by more than 80 percent, indicating that the decline in oil prices is necessary for Iraq to take swift action to lift the economy.” THIS ARTICLE SUPPORTS THE DIRE NEED IN IRAQ TO IMPLEMENT ALL OTHER ECONOMIC REVENUE STREAMS TO RELIEVE BUDGET BURDEN ON VOLATILE OIL MARKET PRICING…LIKE TAXES & TARIFFS…AGRICULTURE AND THE INDUSTRIAL MANUFACTURING SECTOR…OR PREDICTION OF TOTAL COLLAPSE OF IRAQI ECONOMY IN 2016.
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Kaperoni (Dinar Guru) – The market economy cannot succeed without freedom of movement of capital. And everyone knows it is grossly undervalued. Once the laws are in place and the CBI moves to Article VIII and changes regime from fixed to float, the dinar will only go one way..that is up. …we should be excited, the CBI has followed very precisely the IMF the last few weeks. A great sign of what’s to come.
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wmawhite (Dinar Guru) – …the tariffs, the taxes, are budget issues and are needed to support the budget. However, those two items will cause major increases in goods to the citizen. Therefore, Iraq must provided more purchasing power via a more valuable currency.
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mike (Dinar Guru) – Article: “Economist: 77% out of cash liquidity for the banking system due to lack of confidence” For me, these folks are hanging onto every dinar they can squirrel away, they’re in survival mode right now. Government projects have stopped, paycuts, the war with ISIL and others all contribute to this, until there’s relative peace and stability, nothings going to change. I also agree that without banking laws, the folks are going to shy away from the banks. There’s been too many stories about folks being unable to withdraw their funds because of low liquidity, no one trusts the banks in Iraq.
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firefly (Dinar Guru) – Article quote: “Governor Ali al-allaq said in March that the new Bank is that the auction is no longer a daily window for sell by auction, noting that new mechanisms developed to sell the currency, particularly the functional currency of the foreign trade.” the discontinuation of the daily currency auctions…Must happen. The only thing I’m looking at is the Auctions…PERIOD, END OF STORY. Nothing else matters…The auctions are for buying the USD. They have to get the USD off the streets! No way around it. When it is completely halted…then IMO we should be expecting the LDs to hit the streets as well. I’m pretty pumped to tell u the truth.
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wmawhite (Dinar Guru) – [could they give the citizens more purchasing power without going international immediately?] The only way you or I or an Iraqi citizen can receive more purchasing power is for the costs of goods to decrease…go down in price…because Iraq imports 90% of their goods, an increase in the international value…will bring those prices down. However, the IMF must give it’s “Good House Keeping Seal of Approval” which is Article 8 first. Without it the worlds financial institutions would probable avoid it. There are many changes happening now monetarily in Iraq but IMO, as soon as the IMF offers the CBI Article 8, the CBI will make the jump and with it we will start to see the true value of the IQD appear outside of Iraq.
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firefly (Dinar Guru) – Article quote: “Governor Ali al-allaq said in March that the new Bank is that the auction is no longer a daily window for sell by auction, noting that new mechanisms developed to sell the currency, particularly the functional currency of the foreign trade.” the discontinuation of the daily currency auctions…Must happen. The only thing I’m looking at is the Auctions…PERIOD, END OF STORY. Nothing else matters…The auctions are for buying the USD. They have to get the USD off the streets! No way around it. When it is completely halted…then IMO we should be expecting the LDs to hit the streets as well. I’m pretty pumped to tell u the truth.
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wmawhite (Dinar Guru) – [could they give the citizens more purchasing power without going international immediately?] The only way you or I or an Iraqi citizen can receive more purchasing power is for the costs of goods to decrease…go down in price…because Iraq imports 90% of their goods, an increase in the international value…will bring those prices down. However, the IMF must give it’s “Good House Keeping Seal of Approval” which is Article 8 first. Without it the worlds financial institutions would probable avoid it. There are many changes happening now monetarily in Iraq but IMO, as soon as the IMF offers the CBI Article 8, the CBI will make the jump and with it we will start to see the true value of the IQD appear outside of Iraq.
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Frank26 (Dinar Guru) – […if the sharks and whales are waiting for the 1:1 to begin buying into the dinar then who is/are buying it up now at the lesser rate?] THE BANKS AROUND THE WORLD…They are NOW being seeded with the IQD because the next phase is…..INTERNATIONAL!
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BGG News Time Chat 12-12-15 PM (BOMB SHELL)
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 says to cjquade54: There you are!! to answer your earlier ?? – Here’s the news – (and to piggyback on last nite) – THEY ARE GIVING MONEY AWAY FOR FREE!!
BGG says to cjquade54: the CBI – that is…
BGG says to cjquade54: ask yourself why??
BGG says: Did no one get what I was saying last nite??
BGG says: Really??
joyojoy: put me in line!
BGG: They are JUST GIVING IT AWAY!!
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Read More: http://www.dinarupdates.com/showthread.php?26589-Newstime-with-BGG-12-12-2015
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BGG – 30 days ago the “market rate” was 1225…it’s 1212 now…they have “magically” brought the Market Rate down to 1212…they also brought the “sell rate” within the 2% IMF compliance…they are now SELLING the Dinar at 1182 per Dollar…the CBI “magically” decided to go from 1166 to 1182 – any ideas as to why? the IMF takes over – they start following a plan. There is obviously a new plan…NO ONE SAW THAT COMING. of all the scenarios anyone could have dreamed up – who would think they would sell Dinar for less? Guess what – it makes things work…
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Chattels (Dinar Guru) – Article quote: “completion of discussions over the next five days“? [so maybe the budget being put off until next month may not be true?] Maybe, but discussions, even if timely and completed, may not result in a vote…? We have yet to hear from the Kurds about the budget. …even if the budget is passed then what significance has it for our event? Just observing the ink content without much expectation of anything from/on the budget relevant to our event.
BGG ~ Oh for Heaven’s sake!! SAY SOMETHING!!
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Kaperoni ( Dinar Guru) – Article quote: “…said the prime minister Haider al-Abadi, Saturday, that the time has come to activate the economic, agricultural and tourism sectors, stressing that the government is determined to activate the role of private banks.” The way I see it, Abadi is telling everyone at this event that they need to expedite the process, pass the laws, etc…that there is no more time to screw around. Which is very good news. The other side to this is its all been said before with little results. I don’t believe its possible to activate anything without doing something with the currency…so we wait and we see.
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Iraqi Dinar/Dollar auction (most recent listing) 12-13-15
Currency Auctions Announcement No. 3093
This daily currency auction was held in the Central Bank of Iraq on the 12-10-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 22 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 183,580,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 183,580,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – Article quote: “…confirmed the Iraqi Central Bank on Saturday, it will put the plan to attract the Iraqi currency chunky in the homes of citizens for the purpose of investment…” [I’ve been trying to figure out what they mean by chunky. LD’s are coming in CHUNKS.] Keyword… MASSIVE. ALSO YOU MUST NOTE FROM NOW ON: No approvals…No amendments…No passing…No readings…JUST ACTIVATIONS. Now.
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rcookie (Dinar Guru) – Article: “Jubouri’s office announced the budget put forward for a vote in Parliament next Monday” ANOTHER CONFIRMATION ANNOUNCEMENT ABOUT BUDGET VOTE FOR 14TH…THIS ONE FROM JABOURI HIMSELF.
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wmawhite (Dinar Guru) – …the IMF announced 3 weeks ago a new MoU with the CBI and expectation of Iraq re-entering the economy markets prior to the first half of 2016. Regardless of 90 days or no 90 days…the IMF has already stated what their expectations are…that Iraq is going to do something during the first part of 2016. Done, done and done. the IMF would never open their mouths…state what they expect Iraq to do unless they have a solid reason to do so. Of course…if the CBI is in concert with the IMF everything that we are seeing is headed towards those expectations…With all of this said…what is needed by the CBI to “re-enter the economy markets during the first half of 2016? Answer: a currency that Iraq can conduct international commerce…to do what? Conduct business. And IMO…this is truly where we are today…we have been told what to expect by the IMF.
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BGG News Time Chat 12-11-15 PM Part 3 of 3
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!!
CanTWaitwoRV says to BGG: Economist: Central steps are useless and should be eliminated currency auction 12/12/2015
CanTWaitwoRV says to BGG: He Economists, on Friday, that the steps the central bank to reduce the amount of funds sold through the daily currency auction is useless in the control of corruption and the smuggling of currency outlets, calling for an economic plan that limit the trading of foreign currency within government institutions and the abolition of the daily bank to sell the dollar auction.
Said economist Mustafa Mohamed Habib said in an interview for “term” that “reducing the amounts sold by the central bank does not necessarily mean control of multiple embezzlement outlets and smuggling money the country abroad.”
He added that “an elaborate economic plan under which the study of the actual need for the local market of the dollar, which is converted to import consumer goods on a daily basis and limited to foreign currency to the country’s economic institutions, represented by the Central Bank.
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Read More: http://www.dinarupdates.com/showthread.php?26548-Newstime-with-BGG-12-11-2015
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BGG – Jubouri’s office announced the budget put forward for a vote in Parliament next Monday. […you think rate is in the budget…?] No – I don’t, the rate is where it has always been – the CBI, when it is time… they will change it.
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Millionday (Dinar Guru) – …THE BANKING CONFERENCE TO MOVE IRAQ TO THE MARKET IS ON THE 12TH AND 13TH OF THIS MONTH. IT INCLUDES ALL BANKS AND THEY HAVE ALREADY MET FOR WORKSHOP… HAVE ROLES AND HAVE ALREADY TAKEN STEPS FOR THE MOVE TO THE MARKET. THE 16TH OF THIS MONTH IS THE HUGE ECONOMIC CONFERENCE WITH ALL EXPERTS AND PROFESSIONALS.
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BGG News Time Chat 12-11-15 PM Part 2 of 3
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!!
CanTWaitwoRV says to BGG: The Ministry of Planning, Monday, for the controls and mechanisms for the implementation of new and ongoing investment projects in a manner postpaid and to be adopted within the next year’s budget in 2016.
He said ministry spokesman Abdul Zahra al-Hindawi said in a statement that representatives of the Ministries of Planning and Finance, and in consultation with the Economic Adviser to the Prime Minister acknowledged the controls that will be adopted in the implementation of projects on credit, which stressed that the implementation of projects in this way is for projects developed in accordance with Article 26 of the Budget Law for 2015, taking into consideration ongoing in the draft 2016 budget projects and include text
BGG says to wmawhite: That is a most interesting point…
Nadita says BGG: …what are you going to do when this rv..? and the chat is overloaded…
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Read More: http://www.dinarupdates.com/showthread.php?26548-Newstime-with-BGG-12-11-2015
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Kaperoni (Dinar Guru) – Article: “Najib: raise 5 trillion dinars from the payment on credit projects in order to reduce budget deficit” Iraq is really in a bind. I saw a picture the other day of the Kurdistan region, almost all the high rise construction was stopped. Then you add all these provinces that are war zones, and the areas that are not (like Basra), but don’t get their share of the budget and you have a real mess. I don’t think these articles really tell the whole story of just how dire it has become. Under those circumstances, just how many companies are going to work in Iraq on credit? Especially when they can’t even pay the oil companies that are the only source of the their revenue.
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Stryker (Dinar Guru) – Article: “Parliament plans to vote on the budget next week” As you can see we are now seeing the word VOTE in the articles when it comes to the parliament budget sessions next week. The Budget is scheduled for Monday.
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BGG News Time Chat 12-11-15 PM Part 1 of 3
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: here’s my insider story for the nite…
BGG: you guys will likey..
BGG: Mike (Kaperoni) has worn us all out with this 2% IMF guideline business..
BGG: a long time ago… I told him… when it’s time – they will magically “be in compliance”…
BGG: for whatever reason… guess what… THEY ARE.
BGG: more curious than that they are… is HOW??
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Read More: http://www.dinarupdates.com/showthread.php?26548-Newstime-with-BGG-12-11-2015
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Iraqi Dinar/Dollar auction (most recent listing) 12-10-15
Currency Auctions Announcement No. 3092
This daily currency auction was held in the Central Bank of Iraq on the 12-10-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 21 |
| Number of remittance companies | 9 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 161,295,460 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 161,295,460 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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