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 136:1 (NKJV)

136 Oh, give thanks to the Lord, for He is good!
For His mercy endures forever.

Heavenly Father, Thank You that You are Good! Thank You for Your mercy that endures forever! In Jesus Name, Amen.

Mrs. BGG

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CURRENCY CODE SELL BUY

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

http://www.cbi.iq/

Indicative rates – 01.14.2015

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Groups that rose from poverty to prosperity seldom did so by having their own racial or ethnic leaders to follow. – Thomas Sowell

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*** Current Posts ***

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“Round Table” Dinar Call!!

“for Dinar News – that MATTERS!!”
from 01/14 – 8:00pm CST

 Smart phone user link – Click here

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Blondie (Dinar Guru) – Regarding rumors of ships waiting for an RV before coming to port… The price for the cargo (oil, or whatever), was established by contract before it was ever put on the ship – probably weeks (if not months) in advance. Purchase prices don’t change “in transit”.   If you bought something on layaway and the seller raised the price the next day, you still get the lower price. Think about it. Oil prices change DAILY, yet tankers are constantly in transit: Buyers would be at TREMENDOUS AND UNACCEPTABLE RISK if they were subject to a price increase during transit. It just doesn’t happen, sorry. Contracts protect buyers if prices go up, and they protect sellers if prices go down. It’s the nature of a contract.  The only thing that could occur along “RV lines” might be an “accounting change,” (for either the seller or the buyer (or both) but the VALUE PAID would *have* to remain the same. So there’s nothing to gain by waiting: by law, the contracted VALUE prevails.
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wmawhite (Dinar Guru) – Quote:   “under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.”  As the CBI moves from the MCP [multiple currency practice] …the IQD will take it true position somewhere on this list of currency value… where, I do not know.
1 Egyptian Pound = $0.13
1 Jordanian Dinar = $1.41
1 Qatar Riyal = $0.27
1 Bahraini Dinar $2.65
1 Israeli Shekel = $0.26
1 Saudi Riyal = $0.27
1 United Arab Emirates Dirham = $0.27
1 Omani Riyal = $2.59
1 Kuwaiti Dinar = $3.31
1 Iraqi Dinar $0.00085
Because of all of the discussion we are seeing about the auctions…IMO, we are about to see this final move away from the MCP.
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Kaperoni (Dinar Guru) – The IMF was ready to grant Article VIII to Shabibi back in October 2012 and since he worked in a very independent and isolated manor he would have done what he felt was right for his currency. That being said, would it have succeeded? Would investors come to Iraq? Would have the GOI passed the laws to continue to create the environment that would invite investment? Probably not…  It is very apparent that Shabibi was going forward… otherwise, there would have been no reason to take such abrupt action as to create false accusations and warrants to stop the process.  Just think, if Shabibi could have moved to Article VIII back in Oct 2012, they had about 80 billion reserves at the time.  Now some 3 years, 3 months later, the reserves are depleting below 59 billion and expected to go lower.
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EXOGEN (Dinar Guru) – [What exactly is holding this RV up?]  THERE IS NOTHING HOLDING ANYTHING UP. THERE HAS JUST NEVER BEEN A SET OR CONFIRMED DATE FOR IT TO TAKE PLACE AND THERE IS NO SUCH ANIMAL AS A BACK WALL DATE.  EVERY YEAR IQD LAND IS LED TO BELIEVE THAT THE BUDGET AND BUDGET RATIFICATION AND TAXES AND TARIFFS MEAN RV/RI AND THAT IS NOT THE CASE.
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Adam Montana (Dinar Guru) – […do you expect anything worthwhile to come out of the parliament meetings on the 16TH and the 19TH.]   YES – if not an actual RV, then at least some clues as to the path we’re on.  I’m very excited to see what we hear in the next 7-10 days.
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Millionday – “AsiaHawala is the first-ever mobile money service provider to launch in Iraq… pursuing a targeted strategy of enhancing the range of mobile financial and mobile commerce solutions for consumers and for business customers across its markets in the Middle East, North Africa and Southeast Asia…“  A FULL RANGE OF >> INNOVATED SOLUTIONS – THESE ARE FINANCIAL THAT ARE TIED INTERNATIONALLY…WIRES MONEY INTERNATIONALLY.  IMO — ECONOMICALLY IT HAS TO BE AT A RATE OF FAIR TRADE — THE INTERNATIONAL EQUATION HAS TO BE APPLIED FOR THE THE GLOBAL PRICING INDEX… THIS IS ACTION NOT TALK…IT IS LAUNCHED…
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Iraqi Dinar/Dollar auction (most recent listing) 01-14-15 

Currency Auctions Announcement No. 3115

This daily currency auction was held in the Central Bank of Iraq on the 01-15-2015

The results were as follows:

More: https://dinarupdates.com/observer/
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wmawhite (Dinar Guru) – Quote:   “Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.”    MCP…..Multiple Currency Practice…The auctions are required because of the MCP…More than one currency on the street.   there is an agreement… again, announced by the IMF that Iraq will move forwards removing the MCP…dual currencies…leaving the IQD as the only currency.  they have no reason not to tell the world…Iraq wants the world to recognize their efforts…everyday we see proof that it is getting done.
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Adam Montana (Dinar Guru) – I mentioned last week that we were looking forward to the 16th and the 19th. That hasn’t changed.  What we are seeing in the news feed, though… THIS is very encouraging in my opinion!  It’s real simple – Iraq is throwing news at us faster than the Google can even translate it.  The news is this:  1. We have no plans to change the exchange rate.  2. We plan to change the exchange rate.  And after you get done reading 17-29 poorly translated articles, suddenly you realize one more thing…there’s nothing else in the news.  Whaaa?!  YEP, that’s right!  You’re all smart enough to figure this out! I’ll end my update with one small  caveat – there’s a chance that we’re not going to see anything happen. Ever.  But there’s also a good chance that we’re watching history right now.  I’m loving this ride.
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Mnt Goat (Dinar Guru) – There is much news and it is all progressing nicely… It is my opinion that Iraq is still moving to late January/early February target dates for some reason. We are also being told now they want to conclude ISIS fighting in region of Mosul by end of month too. WOW!  They have told us targets for HCL, General Amnesty law, Federal Council law also in this timeframe. Remember that even though we see signs that these laws may be already in the implementation stage they are not “official” until parliament passes them, Masuam ratifies them and they are posted in the gazette.  Just recently we learned about a “Comprehensive Reconciliation” law now being drafted by the council of ministers. This law also is expected to peep its head into parliament at the end of the month. This one we will have to watch carefully too.
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Kaperoni (Dinar Guru) – Article quote:   “A member of the Economic Committee in the House of Representatives Ali Sobhi al-Maliki said his committee held a meeting with Governor of the Central Bank of Iraq, where the latter stressed that it is not possible to raise the value of the Iraqi dinar against the dollar.”    IMO this is a great article because even though they can’t at this time, they are confirming (of sorts) that the plan is to raise the value of the dinar.  
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Frank26 (Dinar Guru) – Yesterday the Prime Minister from Vietnam spoke about his currency…he said the move is only one of several measures to strengthen the role of the VN currency and steady the forex market…we are going to float…free like a bird…so what happened last week…the VND had two increments of growth…this is what a free float is all about…You know why else VN is doing the free float…well it is because we are trying to lift the 000’s from the streets…and you are worried the value is going to go down…I suppose you think the value of the IQD is going down too…NAM and many other countries are doing their own currency reforms…NAM is doing the same thing as Iraq…we know.
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tman23 (Dinar Guru) – We know that the optimum time for Iraq to lift the 3 zeros was at the start of the New Year (and this was in ink from Shabibi a few years ago).  We know that lifting the 3 zeros deals with a new system of accounting…We have seen articles that the banks have been instructed to “switch over”.  The GOI was h^ll bent on getting the 2016 Budget passed before the New Year…AND now has slow walked it to being published in the Gazette.   Make no mistake that “most likely” the process to lift the 3 zeros is in motion and being used in internal accounting processes.  This Sunday we should see some positive affirmations…IMO.
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Delta (Dinar Guru) – There is nothing wrong with this devaluation of the dinar…there’s a difference between the street value and the value within the CBI which is exactly one of the two compliances of the IMF in order to lift Article 8…The Finance Committee has CONFIRMED the presence of a project to reconsider the dinar exchange rate with the dollar with the government and the CBI…that is big…the CBI and the GOI together…that is a big step… understanding we got to do something about our exchange rate …this is HUGE for them to admit yes we are devaluing…we are devaluing because we are forfilling the IMF regulations of what we have to do.  Look only the CBI and the IMF knows the date and the rate.

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BGG (Dinar Guru) – [ “Can you believe that very possibly within the next few weeks…all of you may have an entirely different life because your this investment may have come to pass.”]  could be more like 7-10 days…
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wmawhite (Dinar Guru) – Can you believe that very possibly within the next few weeks…all of you may have an entirely different life because your this investment may have come to pass.  From what we are seeing everyday, we have reason to believe that this is coming to us.
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Kaperoni (Dinar Guru) – Press Release:  “IMF Managing Director Approves a Staff-Monitored Program for Iraq”  Here is something really key…from a chart on page 32.  The CBI was suppose to accept Article VIII in 2012!  That was exactly when Shabibi was run off.  “October 2012   Article VIII acceptance”  Over 3 years behind schedule!  Quotes: “19. The government will maintain the Iraqi Dinar’s peg to the U.S. dollar…” “20.   …Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions…”   IMO, though #19 says…”maintain the Iraqi dinar’s peg to the U.S. dollar“ I do not believe that will be the case once they have moved to Article VIII…since this move will invite investment to Iraq (open the door to the new wild west of investment), it will create inflationary pressure. As a result, the dinar must float to compensate. In any event, once they are in Article VIII, the pressure created on Iraq’s economy, will cause the dinar to rise in value (Balassa Samuelson effect)…so we should be very optimistic and excited that Article VIII appears to be coming this year.

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rcookie – THEY HAVE MET EVERY SINGLE IMF & WB MANDATE TASKED TO THEM…AML & INVESTMENT LAWS…SALARY LADDER AND REGRADING…SUBSIDY CUTS…DEFICIT REDUCTION…TARIFFS IMPLEMENTED…NON OIL REVENUE STREAM FOCUS…THE ONLY THING MISSING IS MONETARY REFORM
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Frank26 (Dinar Guru) – You know those coins that came out and everyone is calculating…this was that price and that was that price…STOP IT…no one knows the date or the rate…they are not going to give you the variables that would allow you to calculate these things…your calculations…they have nothing to do with a rate...they are for two things…Number 1….they are for SECURITY… because they are working on SECURITY at the CBI and they are not working on the MR because they have turned in their homework and that homework is being graded by the IMF…the second thing…it is the lifting of the 000’s…again with the lifting of the 000’s…they will always lift 000’s up until the last second…it is the proper bookkeeping for them to do.
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SteveI (Dinar Guru) – […if a 100 dinar gold coin is worth @ $582 after rv, that’s a exchange rate of @ $5.82…If my math is right.]  Your math is correct for this coin only and has nothing to do with the value or future value of their currency.  This is a collectors item only! This coin will hold the value according to the gold index period.
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BGG – [With the exception of the gold coins. What is the biggest news story of the week and why?]   The biggest thing to me – in this whole budget thing…they don’t seem to be afraid of spending A LOT more than they have coming in…what do they know that we don’t?
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SteveI (Dinar Guru) – “no intention to amend the dinar exchange rate and that what is declared by the otherwise from any person or entity has not considered particularly after it has been installed price in the budget agreement with the Government and the International Monetary Fund.”   Iraq has developed a master plan and you will be amazed when you find out how they are going to accomplish this…just let Iraq (CBI) and the IMF execute this plan after the security of the country is under control.  Everyone will benefit.
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wmawhite (Dinar Guru) – [With the exception of the gold coins. What is the biggest news story of the week and why?]  All of the banks within Iraq being told that they MUST be on the same international accounting standards as the rest of the world. [Electronic at the borders.]  Very good!!! Very big too!   …these are all huge pieces to what Iraq will need to enter the markets as the IMF expects.
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