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…
Luke 2:11 (NKJV)
11 For there is born to you this day in the city of David a Savior, who is Christ the Lord.
Heavenly Father, thank You for Jesus, our Lord and Savior! 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 | 1284.834 | 1284.192 |
| British pound | GBP | 1760.944 | 1760.063 |
| Canadian dollar | CAD | 844.889 | 844.467 |
| Swiss franc | CHF | 1188.179 | 1187.584 |
| Swedish krona | SEK | 138.097 | 138.028 |
| Norwegian krone | NOK | 134.417 | 134.350 |
| Danish krone | DKK | 172.208 | 172.122 |
| Japanese yen | JPY | 9.748 | 9.744 |
| Special Drawing Rights |
SDR | 1636.656 | 1635.838 |
http://www.cbi.iq/
Indicative rates – 12.25.2015
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Merry Christmas everyone – BGG
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*** Current Posts ***
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SteveI (Dinar Guru) – The CBI had then published the announcement on the CBI website and what the CBI was telling them was no, it has not re-valued yet but they will publish the formal notice on the CBI website when it does and they will be notifying the rest of the world as well when it does. …the CBI could have simply said, [no] is has not changed value nor will it ever change value, but just the opposite. I love this news. We still do not know when, but my guess is not to far in the distant future. [post 2 of 2]
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SteveI (Dinar Guru) – CBI quote: “To / all licensed banks and licensed money transfer companies and all financial investment companies and broker the buying and selling of foreign currencies approved all companies (foreign exchange rate) 12/20/2015” There has been a CBI pdf file floating around and we…got a few people to read and interpret it as to is true meaning and intent. This is not from a on translator, but real people over there in Iraq and here… So here is what this really means. I think it is very positive and very telling. Many banks, money exchanges, brokers and financial institutions have been questioning the CBI because they heard or was hearing that the currency value (RI/RV) had taken place or they were asking the CBI when it will happen. [post 1 of 2….stay tuned]
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Poppy3 – ALL BANKS THAT HAVE A TRADE LICENSE WILL TRADE THE DINAR AS IT BECOMES INTERNATIONALLY TRADEABLE. THERE WILL BE 3 RATES…CBI RATE, AMERICAN BANK RATE AND UST RATE. WHEN YOU TRADE YOURS IN AT THE BANK THEY WILL TRY AND CHARGE YOU A SPIFF OR ADMINISTRATION FEE? THAT PART WILL BE NEGOTIABLE. THE BANKS WILL TURN THE DINAR TO THE UST AND THE UST WILL PAY THE BANKS A % FOR THE EXCHANGE. THATS HOW THE BANKS WILL MAKE THERE $$$$$…I HAVE HEARD THAT UST RATE WILL BE BETWEEN 2 TO 10% MORE THAN THE BANK RATE MAKING THE BANKS HUGE PROFITS. THIS INFO FROM TWO REGIONAL BANK MGR. THEY SHOULD KNOW!
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Sadr referring to al-Maliki “Vice-President”: leave him dreaming as his plans were revealed
Shafaq News / The leader of Sadrist Movement, Moqtada al-Sadr said that the leader , Nuri al-Maliki sticking in the position as a Vice President of the Republic is a “wishful thinking”.
Data from Maliki’s office are still being issued to the media is attached as a Vice President of the Republic in spite that his position has been reduced by a decision of the Prime Minister , Haider al-Abadi and the Court confirmed the decision .
Moqtada al-Sadr replied in a question posted on his website, that the reason for holding the vice president position , “is wishful thinking. He’s dreaming.”
Al-Sadr told the people, ” his plans were revealed as well as his reckless policy.”
BGG ~ We haven’t heard a peep out of Maliki for 2 weeks?? The first thing that pops up is this… and some rumor Maliki may be about to be arrested (or already is…) AND – Abadi is using Iraqi Regular Army Sunnis to liberate Ramadi and then Mosul.
IMHO – the political winds have shifted in Iraq.
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rcookie – THERE IS STRONG PRESUPPOSING THAT GIVEN THE ECONOMIC ENVIRONMENT WITHIN IRAQ RIGHT NOW…RAMPANT POVERTY & UNEMPLOYMENT…MANDATED SALARY ADJUSTMENTS ACROSS THE BOARD…DIRE HARD CURRENCY LIQUIDITY IN MARKET…THAT FURTHER IMPACT TO THEIR FRAGILE STANDING OF IMPLEMENTING OTHER TAXES WOULD HAVE TO BE PRECEDED WITH CHANGE IN VALUE TO IMPROVE THEIR PURCHASING POWER TO ADJUST AND ACCOMMODATE…THIS IS HOW THEY WILL REALIZE AND BENEFIT FROM THE CHANGE IN VALUE…IN COUNTRY…
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Poppy3 – […was there any proof that ZIM RV’ed.] THE ONE NOTE I READ WAS THE STATEMENT THEY WERE GOING TO USE ZIM $$$$ EXCLUSIVELY. THAT SOUNDS VERY FAMILIAR. …got another REPORT ON ZIM. IT HASNT RVED VALUE YET BUT IS EXPECTED AT ANYTIME. REPORT SAYS THE ONLY REASON IT HASNT IS THEY STILL PRINTING LD’S IN PREPARATION FOR THE NEW VALUE. EXPECTING .03 CENTS. HOPE THIS UPDATE HELPS. NOT FROM ANY USUAL SOURCE BUT THIS SOUNDS VERY REASONABLE ESPECIALLY WITH THEM REPORTING BEING PAID NOW IN ZIM ONLY. TIME WILL TELL.
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Iraqi Dinar/Dollar auction (most recent listing) 12-24-15
Currency Auctions Announcement No. 3102
This daily currency auction was held in the Central Bank of Iraq on the 12-24-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 22 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 153,262,757 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 153,262,757 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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wmawhite (Dinar Guru) – Personally, I am looking forward to this new year because I truly believe that Iraq will turn the financial corner…I am repeating exactly what the IMF told the world 4 weeks ago.
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Kaperoni (Dinar Guru) – “it will not unlike this increase is an increase in the sale price of the dollar in the currency auction,” aahhh but it did… They can twist it anyway they like, but the Market Rate did change from about 1212 to 1220 so it adjusted, which means it devalued and the citizens lost 16 dinars to the $1 purchasing power. It is clear, the hope was they could devalue the dinar, save a little money to cover the budget deficit and hope that the Market Rate would stay within the 2% IMF compliance (about 1214 or less). But it seems to have failed with the dinar Market Rate now at 1220.
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Poppy3 – [POPPY U STILL FEEL WE ARE GONNA BLOW THIS POPCORN STAND BEFORE JAN 1?] THEY GIVE A NEW RATE TO COMPLETE FINANCIAL REFORM AND WORLD BANK GIVE THEM 1.2 BILLION. SOUNDS TO ME LIKE JAN 1 OR BEFORE.
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rcookie – IN WHAT ALTERED UNIVERSE COULD ANY REAL POSSIBILITY OF IRAQ DEMONSTRATING TO THE WORLD…A NON SECTARIAN…INCLUSIVE GOVERNMENT…EXCISION OF CORRUPTION…AND MOVE TO A MARKET ECONOMY…WITH ECONOMIC AND MONETARY REFORM HAVE HAPPENED IF NOT FOR ABADI. ALMOST EVERY MINISTRY IN THE GOVERNMENT WAS OVERWHELMED AND RAMPANT WITH CORRUPTION… RESULTING IN THE UNMET COMPLETION OF SERVICES AND QUALITY OF LIFE FOR THE CITIZENS…WHICH IS NOW BEING DIFFUSED AND PREVENTED WITH THE UN AND IMF OVERSIGHT OF TRANSFER OF POWERS…AND ALL ECONOMIC AND MONETARY REFORM INITIATIVES…INCLUDING THE CBI…AND OVERSEEING THE 2016 BUDGET ALLOCATIONS AND DISBURSEMENTS ARE EXECUTED FLAWLESSLY…HAS NEVER HAPPENED BEFORE!
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Millionday – “Iraq and China signed today five agreements and memoranda of understanding on economic and technological cooperation The military, diplomatic, and oil and energy.” NOTE — I WILL JUST SAY THIS — IMO — THIS IS HUGE AND VERY IMPORTANT AND SHOULD SHOW MANY HOW CLOSE THEY ARE TO GOING INTERNATIONAL DUE TO THE MANY AGREEMENTS. WHEN SANCTIONS WERE PUT IN PLACE THEY WERE NO LONGER ABLE TO GET ANYTHING FLOWN IN — WHEN THEY WERE LIFTED CHINA WAS THE FIRST COUNTRY TO BRING IN TECHNOLOGY — OBVIOUSLY THEY WANT TO BE PART OF THE MASSIVE TRADE AND DEVELOPMENT THAT WILL TAKE PLACE AS WITH MOST. UNDERSTAND THAT THE MONETARY POLICY ONE STATED THAT IT HAS TO BE STRONG FOR THE FISCAL POLICY WHICH BEGINS JAN 1ST. VERY EXCITING TIME FOR IRAQ AND MANY IN AGREEMENTS/CONTRACTS/ INVESTED WITHIN.
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Adam Montana (Dinar Guru) – If you’ve kept up with my latest updates, you know we’re moving in the right direction.
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Millionday News Time Chat 12-22-15 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: WELCOME TO NEWSTIME EVERYONE – I HAVE A FEW THINGS TO SHOW YOU
Millionday: I LOVE THIS REPORT
Millionday: Iraq Economic affairs expert, Dhurgam Mohammed Ali, described the role of monetary policy during the current situation a “sensitive role,” because of the size of the economic challenges facing the country.
Mohammed Ali told the National Iraqi News Agency that “the financial crisis, Iraq is passing through, needs a balanced and accurate monetary policy to keep the Iraqi market through the stability of the local currency and to address any possible.”
Millionday: NOTE — THIS IS ABOUT THE MONETARY POLICY AND ITS ACTIVATION
Millionday: NOTE — THE POLICY HAS TO STABILIZE THE LOCAL CURRENCY
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Read More: http://www.dinarupdates.com/showthread.php?27231-Millionday-News-12-22-15
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Delta (Dinar Guru) – …a lot of you that don’t know about this article…it was on the CBI website in Arabic…all the newspapers and all the media are talking about it…dated the 20th…this letter from the CBI to banks, money exchange companies and private banks...is the huge thing that confirms they are waiting on the calculation to be done…everything we believe to be done except that calculation… anything less than a 1 to 1 rate would simply cause confusion with the Iraqi citizens…just as Abadi said on the 10th…we are ready to activate things for the economy…they can’t activate the banking system in Iraq unless they are internationally recognized...the ki cards and so much that we’ve seen from them all need the international recognition…the calculation that they wait for now. This is very good as an indication that something is about to happen, either late this month or by mid-January.
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tlm724 – Article quote: “MP from the parliamentary Finance Committee Hama Ahmed said on Tuesday that the issue of loans is tax deferred revenue and undesirable paid by future generations and has financial implications are reflected on the country’s politics” kinda like another buy out for Iraq, in the past these loans would be given and Iraq would never do anything to help themselves ie: grow the private industry etc… to make money…but this time is different, the IMF is in charge of the economy so that these loans won’t be needed down the road. Quote: “stressing that any party granted loans impose certain conditions on the biting States are due Altnivha and application to achieve loan.” yep conditional loans! That’s what we want to see, force Iraq to do the right thing.
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Stryker (Dinar Guru) – One of the most important questions out there is, has there been a devaluation of the dinar or isn’t there? The office of Prime Minister Abadi and Governor Ismail of the CBI both came out today describing it as a small rate adjustment and not a devaluation that was reported by the news media…
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BGG – Article quote: “The Central Bank of Iraq, on Monday, reduced the value of the dinar against the US dollar. According to a statement of the bank, that “lifting of US dollar selling to banks and exchange companies rate by 16 dinars any by 1.37 percent to 1182 dinars.” [I am trying to understand how devaluing is a good thing? 1182 is going the wrong way?] It gets them closer (or within) the required 2% IMF regulations… no one saw this coming – the way for them to comply was “give away” a few dinars per transaction… HUGE NEWS… That is Market rate / CBI rate spread… no one had any idea how they would ever be able to get this valuation to work right – turns out – EASY. Give away 16 dinars per transaction. AND – stop and think… they HATE their exchange rate going the wrong direction. There has got to be a MASSIVE pot of gold at the end of the rainbow…
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Iraqi Dinar/Dollar auction (most recent listing) 12-22-15
Currency Auctions Announcement No. 3100
This daily currency auction was held in the Central Bank of Iraq on the 12-22-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 26 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 183,546,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 183,546,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Enorrste (Dinar Guru) – Once the float begins the rate will rise. Furthermore, it is clear that this is not a “panic” move on the part of the CBI. In fact, Saleh stated that it is NOT a devaluation but is instead only an ADJUSTMENT. I have no reason to doubt that statement. It is consistent with the small size of the change and with the statement implied that they are buying time (6 months) to get in line with “international standards.” Remember, it was the IMF that stated that Iraq would move into the “world market” at the beginning of the new year, or shortly thereafter. In my view, the phrase “world market” and “International standards” are synonomous. I hope I am correct. [post 2 of 2]
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Enorrste (Dinar Guru) – Article quote: “lifting the US dollar selling to banks and exchange companies rate by 16 dinars any by 1.37 percent to 1182 dinars.” It seems to me that the CBI is moving in this direction primarily to stall the drop in their reserves, irrespective of any “international standards” that they reference. In that sense, this is a good move for the short term. The article also stated that it would give them “6 months” of time. I don’t think that that means that they will run out of reserves in 6 months. Instead, it is more likely that they are buying some time to implement the IMF agreement to move to a float. I therefore conclude that we will see a movement to a new exchange rate regime within 6 months and that this “tweeking” of the rate is an assurance that their financial position will be secure through that time period. [post 1 of 2….stay tuned]
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“Round Table” Dinar Call!!
“for Dinar News – that MATTERS!!”
from Monday 12/21
Smart phone user link – Click here
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Millionday (Dinar Guru) – Article quote: “The Central Bank of Iraq, on Monday, reduced the value of the dinar against the US dollar. According to a statement of the bank, that “lifting of US dollar selling to banks and exchange companies rate by 16 dinars any by 1.37 percent to 1182 dinars.” SO THE RATE HAS BEEN ADJUSTED AND THE INTERNATIONAL RATES ARE BEING CALCULATED FROM THIS VALUE ADJUSTMENT — THE CONVERSION IS THE GOAL AND THEY ARE CURRENTLY WORKING ON THEIR GOAL AND OURS… WHOOOPPOW.
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Kaperoni (Dinar Guru) – from CBI site – “Board Resolution No. (329) for the year 2015 (the exchange rate)” So some are wondering why we saw that 1182 rate and Iraq didn’t pick up on it until today…well these CBI docs show us..that the board approved the rate change on 11/30..effective 12/1 (which it changed on the CBI site). but the actual announcement didn’t come out until 12/18 (media). They also tell us the CBI bank rate now at 1190 which means the 2% spread is 1214. So the dinar Market Rate has to be 1214 or less than that. And today it is 1220 which is out of compliance. It is frustrating, but the rule is more for the CBI than the IMF. They want the CBI to know how to manage the spread before the playing field becomes international.
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Millionday News Time Chat 12-21-15 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!!
MArco: what comes first reforms or getting the money Karnac says……………………lol offer a thought even though it is just a thought …….. an opinion is OK LOL
Millionday: THE WORLD BANK HAS AGREED THEY WILL GET THE FUNDS BY THE END OF THIS YEAR AND IRAQ HAS AGREED TO ACTIVATE THE REFORMS — THEY ARE REPORTABLY IN THE MIDDLE OF ALL REFORMS BEING COMPLETE
Millionday: SMILE
Millionday: HERE IS A FORMAL CBI ORDER GIVEN TODAY THAT WAS SENT TO ME
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Read More: http://www.dinarupdates.com/showthread.php?26970-Millionday-News-12-19-15
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Mnt Goat (Dinar Guru) – Do they need a very significant increase in order to do this? NO! All they need in-country is a value to the new dinar to be just over a dollar to create this incentive. Is this the RV we have been waiting for? NO! – this move to a 1:1 par with the US dollar is just an inflationary measure they will undertake. The full RV ($4.00+) we are waiting for will come later in about 7-14 days and will depend on how stable the economy is and how this whole process works out. It may take longer or it may be shorter. I personally believe we may see the 1:1 value pop out as the lower denominations are circulated sometime before now and the end of the year. But I do not expect to be at the bank before sometime until mid to late January 2016. [post 2 of 2]
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Mnt Goat (Dinar Guru) – We still await for the “official” word from the CBI to allow the distribution of the new lower denominations. We know this must first be accompanied with a significant increase in value and we are told it will be a 1:1 par value with the US dollar. This is NOT the RV but an inflation adjustment and only an incentive to “dedollarize” the economy and reverse the trend in demand from the US dollar to the Iraqi dinar thus increase the demand for the new lower denominations. This would thus allow Iraq to withdraw or “de-dollarize” their economy as they would suck up US dollars are replace them with the lower denominations. This would happen because the citizens would migrate towards the new dinar since it would be worth more than the dollar. [post 1 of 2….stay tuned]
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Millionday News Time Chat 12-21-15 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: HERE WE GO WITH A PROBLEM WITH THE EXCHANGE RATE
Experts are concerned expected that Sarsrv exposed dinar to the disorder against the dollar Aazin reason to the suffering of the banking sector of the charges, and regardless of the validity of the allegations or not, this actually poses a serious stand to assess the matter and hedge and undermine the real causes behind this expectation.
I have followed completely Basghae Proceedings of the Annual Banking Conference, which was held last week, where fired a citizen is a first Hoalkhasr from the effects of the attack, which goes on the banking sector as a whole this phrase and hesitated Awamufrdh for more than ten times, and the fact it has an eye catching what does not accept doubt that something will happen without doubt.
Millionday: NOTE — SOMETHING WILL HAPPEN WITH THE PROBLEMATIC EXCHANGE WITHOUT DOUBT AND THE BANKS AND COUNTRY ARE SUFFERING
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Read More: http://www.dinarupdates.com/showthread.php?26970-Millionday-News-12-19-15
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SteveI (Dinar Guru) – The news keeps getting better and better each day. Very soon you will get the best news yet!
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firefly (Dinar Guru) – CBI Announcement: “The Ministry of Finance approved on 2015/12/16 conduct a public auction auction (Y16) for the sale of the treasury for their remittances (364) on 12.20.2015.” “To / all licensed banks and licensed money transfer all companies and financial investment companies and broker the buying and selling of foreign currencies approved all companies(foreign exchange rate) 12/20/2015 Board Resolution No. (329) for the year 2015 (the exchange rate)12/18/2015.” [It is coming!] oh yeah…make no mistake about it! …funny, those announcements weren’t there yesterday when I checked. Not surprised, many items going on behind the scenes that only appear after the fact. [does that mean they are approving or have approved the exchange rate?] According to the CBI, certainly makes one think so.
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