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…
James 1:3-4 (NKJV)
3 knowing that the testing of your faith produces patience. 4 But let patience have its perfect work, that you may be perfect and complete, lacking nothing.
Heavenly Father, Thank You that You are the Author and Finisher of our faith! Thank You for the work You are doing through the Holy Spirit in the Body of Christ. Thank You for Your patience 🙂 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 | 1284.598 | 1283.955 |
| British pound | GBP | 1690.496 | 1689.651 |
| Canadian dollar | CAD | 814.386 | 813.979 |
| Swiss franc | CHF | 1174.600 | 1174.013 |
| Swedish krona | SEK | 138.039 | 137.970 |
| Norwegian krone | NOK | 133.522 | 133.455 |
| Danish krone | DKK | 172.133 | 172.047 |
| Japanese yen | JPY | 10.053 | 10.048 |
| Special Drawing Rights |
SDR | 1632.023 | 1631.207 |
http://www.cbi.iq/
Indicative rates – 01.21.2015
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In a democracy, we get the government that 51% of us deserve. – Will Spencer
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*** Current Posts ***
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Vice calling on the government to raise taxes and the value of the currency to bridge the budget deficit
[Baghdad-where] Deputy for the National Alliance called on the government to raise taxes and the value of the currency to cover the deficit in the fiscal budget…
Sadiq frankincense told all of Iraq [where] that “the economic situation may be confusing but bridging the fiscal deficit is a real dilemma, noting that” there are several measures of the government to overcome this crisis and is now in the process of study, including raising taxes and the value of the currency in order to plug in the budget…
Read More: http://www.dinarupdates.com/blog/
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SteveI – “Economic analyst: the dollar against the Iraq dinar is not real price” Remember, the current rate is what the United Nations did when it put Iraq under severe sanctions. Sanctions removed so in theory, the rate should go back up. I really do not agree with the returning rate any longer because it was a rate that was dictated by the other past leader dictator.
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Hub – in order for a sovereign nation to engage in international trade, they have to have some method to exchange value for the product…who wants the dinar as it sits…no one…arguments are that iraq has been trading with a tradable currency, yes they have…the dollar but no more…by constitution must use the dinar. i am very pumped about the next day or so. [did I read it right that Iraq want to have their currency close to their neighbors currency?] tad bit above is what i think was said…i personally think in the 3.60 to 3.90 range…from day one the iraq ptb always stated ri plus 20 % inflation.
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rcookie – REMEMBER..ABADI IS IN DAVOS RIGHT NOW…A MAJOR INTERNATIONAL ECONOMIC NETWORKING EVENT TO ADD TO THE 341 INVESTMENT LICENSES ISSUED FROM 2013-TO END OF 2015 WORTH $15 BILLION…HMM…WONDER WHAT THEY’RE ALL CUED UP FOR.
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Frank26 – Iraq is in a situation that I wouldn’t want you to be in…What that situation is…is a lack of money….a lack of funds….a lack of liquidity. …articles have been coming out since Saturday…the government of Iraq is trying to tell their citizens…look we know that you need money… we are here to tell you we do have a budget…a budget for 2016…yea we got a budget ahead of time before the year was up…but it has to be in the Gazette…so that budget is still at the Gazette…printed but not published…why…because there is a hold…why…there are a couple of things that are needed to be done in order to bring forth the Monetary Reform of the IQD of the currency of this country…they are doing them…Look we have a 70% deficit that is just tearing me apart…$74 billion it’s just the start of the year…they are going to work out this deficit and they are going to increase the value of their currency…and they are going to actually fulfill this budget before this budget actually kills them.
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SteveI – Article: “An invitation to link the Iraqi dinar to the global economy” [Before they would do that won’t they need to move the decimal (delete the zeros)? Is that the 1:1 that is being mentioned?] No…the 1:1 may have been a master plan along. Only the Finance Minister and the IMF know the answer to that one. Remember, we have two things going on at the same time, in country and outside of the country. What they do inside the country will be to give them lower domination with value. Also the retailers will price accordingly.
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Mailman17 – BUT WHAT IS INTERESTING, IS THAT IF YOU GO TO THE ARABIC SIDE SHOWING NOTES IT LISTS THE NEW 10,000 DINAR NOTE WHICH COINCIDES WITH THE ALREADY EXISTING 10,000 NOTE MANY OF US HAVE. EVEN SHOWS YOU A PICTURE OF THE NEW NOTE. BUT NO NEW 50 OR 50,000. MY TAKE ON THIS IS THAT NEW 10 GRAND NOTE WILL MOST LIKELY REPLACE THE NOTE COUNT OF EVERYTHING UNDER IT. INSIDE IRAQ…NOT OUTSIDE. IRAQ IS NOT WORRIED ABOUT NOTES OR NOTE COUNT OUTSIDE OF IRAQ. I BELIEVE THAT NEW NOTE MAY BE THE START OF THE RELEASE OF ALL THE NEW SMALLER ONES AND I THINK THAT IS ANY DAY IF WE ARE TO BELIEVE THE RECENT NEWS. FOOD FOR THOUGHT…AND STAY POSITIVE…WE ARE ALMOST THERE…AS ALWAYS…THIS IS JMO. [post 2 of 2]
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Mailman17 – AS OF TODAY, IRAQ HAS 90 TONS OF GOLD IN ITS RESERVES WHICH REPRESENTS 4.6% OF THEIR FOREIGN CURRENCY RESERVE…I WILL LET YOU READ THAT STATEMENT AS MANY TIMES AS NEEDED TO SQUELCH ANY DOUBT THAT THEY CAN MORE THAN EASILY BACK A 1-1. THEY ARE RANKED 37TH AMONG THE TOP 100 NATIONS. ALSO, I FIND IT MORE THAN INTERESTING THAT IF YOU GO TO THE CBI WEBSITE AND LOOK AT THE NOTES THAT IRAQ CONSIDERS LEGAL TENDER AS OF TODAY, THE ENGLISH SIDE SHOWS EXACTLY WHAT THEY HAVE SHOWN SINCE INCEPTION OF THE NOTES IN 2003…AND YES, THE 50 DINAR NOTE IS STILL ACTIVE WITH NO SIGN OF THE 50,000 ANYWHERE. [post 1 of 2….stay tuned]
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rcookie – Article quote “Reconsider the purchasing power to do his Iraqi and make them equal to the rate of purchasing power for the countries adjacent to Iraq…” [DOES THIS MEAN THAT IF KUWAITS MONEY IS WORTH 3.40 THAT THE IRAQI’S DINAR NEEDS TO BE THE SAME? OR SAME IN KIND?] HE IS IDENTIFYING THE VERY POINT OUR MR WHITE [Guru wmawhite] IDENTIFIES IN THE LIST OF REGIONAL CURRENCY VALUES OF IRAQS NEIGHBORS…AGAINST IRAQS VALUE…AND WANT TO INCLUDES THEIR TRADE PARTNERS VALUES AS WELL. …THERE ARE MANY CONTRIBUTING FACTORS…NOT JUST THE CBI THAT PLAY INTO THEIR REAL CURRENCY VALUE INCLUDING CONSIDERATION OF BEING IN PARITY OR BETTER THAN THEIR NEIGHBORS & TRADE PARTNERS. [reference Guru wmawhite post 1-14-2016]
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Adam Montana – [Does the Dinar need to be traded internationally before it RV’s?] Not at all! In fact, an RV before international trading begins would make everyone rush to start trading it, two things are very possible: 1. If they choose to float the rate, it will go up. 2. If they choose a locked rate, then it will just get stronger. Both are good.
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Millionday – Article quotes: “World Economic Forum Annual Meeting January 20-23-2016″ “Who’s coming to Davos 2016? The US delegation is led by Vice-President Joe Biden…John Kerry, Ashton Carter, Jacob Lew, Loretta Lynch, Penny Pritzker And…Haidar Al Abadi, Prime Minister of Iraq” “The Annual Meeting will bring together over 40 heads of state and government with 2,500 leaders from UN agencies, business and civil society.” ABADI COMPLETED MANY THINGS BEFORE HE LEFT…FOR THE FORUM IN SWITZERLAND — THIS IS OF COURSE THE HUGE ECONOMIC FORUM THAT LISTED MANY THINGS FOR IRAQ TO HAVE COMPLETE — FROM LAST YEAR...HE IS PLANNING ON SPENDING MUCH OF THE TIME TALKING ABOUT THE HUGE ADVANCEMENTS MADE WITH THE WAR ON TERRORISM AND ALSO THE PROMOTION FOR INVESTMENTS GLOBALLY — WHOOPOW.
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Kaperoni – Article quote: “Ministry of Finance was held in coordination with the Committee on Economic Affairs, an expanded meeting…chaired by Finance Minister Hoshyar Zebari, and the presence of oil ministers, Planning and Agriculture and the Governor of the Central Bank and a number of members of the committee in addition to a number of financial experts, economists and academics to discuss the financial situation in Iraq.” This is huge! Coordination! …we have always heard currency reform required the government and CBI and others to coordinate togther. To see these now working together may not seem like much, but this is a well coordinated launch of a market economy with the help if the IMF and WB. We should all take notice, no matter how trivial it may seem…it is not.
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SteveI – [Let’s say hypothetically that the switch is flipped today and the dinar is now backed by Gold. What would the dinar value be at this point? Is it even possible to determine that or is there more to it than just looking at the price of Gold?] New York Gold Spot Price (24hrs) Gold Price Per Ounce $1,101.65…Here is how it was explained to me. Lets say the CBI said that one IQD is now backed by one ounce of gold. It is my understanding that one IQD would be equal to $1,101.65 or a 25K note would be worth $27,541.25 USD, less any spread and fees. [post 3 of 3]
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SteveI – So lets look at both sides of the coin now. So it is not pegged to to Gold, what else could it be pegged to? Yes the USD, which is still fairly close to a 1:1 or a bit less at the moment, regardless worth something. If there will be no immediate future value, …all will cash in and walk away. So who are the winners here, most everyone including yourselves. Now it comes out at a $3 plus rate, who is the winners here, again you are, but I do not see how Iraq can support that type of cash out now that oil is so low. Iraq needs to be able to set themselves up for success, not a rate that cannot be sustained. [post 2 of 3….stay tuned]
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Dinar Call w/BGG!!
“for Dinar News – that MATTERS!!”
from 01/20 – 8:30pm CST
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SteveI – I talked to our team about the countries next to Iraq and feel that a one to one has no signification disadvantageous regarding fair trade…a 1:1 rate or a bit higher. Now, will this happen the way we think? Maybe or maybe not, but it sure does appear to be pointing that direction of being backed by gold. [The question I have is how the process of revaluation of the dinar changes (if any) being pegged to gold. In other words, would it be a gradual or a more sudden increase?] There would be no “revaluation” but rather now a value that follows the gold standard. This is what we are being told and how I understand it. One possible scenario: The CBI will just announce that the IQD is now backed the the gold standard. So if you go to the bank, now any bank for that matter, they would simply looked up the buy rate at the time and pay you in USD that value. [post 1 of 3….stay tuned]
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Adam Montana – My thought right now is that the price of oil might be scaring people. Iraq can handle $30-60 ppb, but if this dropping trend continues… I hate to say it, but it might be in their best interest to hold off and see what happens. Let’s hope the price stabilizes or even starts to go back up. One interesting thing to note – when they do RV, it will generate a TON of activity in the world economy, which will increase demand for oil, and will help drive oil back up. So all they need to see is an upward trend in the oil price and BAM! Jump in with an RV and take advantage! I can see that happening. [post 2 of 2]
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Iraqi Dinar/Dollar auction (most recent listing) 01-20-15
Currency Auctions Announcement No. 3119
This daily currency auction was held in the Central Bank of Iraq on the 01-20-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 24 |
| Number of remittance companies | 22 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 179,922,952 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 179,922,952 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Adam Montana – We know that they were intending to meet yesterday to discuss the HCL, and it looks like they did meet (another miracle in Iraq, a meeting held on time!) – but we are not privy yet to the outcome of said meeting. As much as I’d love to say I have inside info, I don’t at this time other than a few mentions that they will be addressing it again tomorrow... fingers crossed. The Budget was also not published in the Gazette, but that doesn’t bother me. It was stated that their deficit is 74 Billion dollars. Friends, that is 1/10th of a single Trillion. NOT A LOT OF MONEY in the grand scheme of it all! [post 1 of 2….stay tuned]
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Mnt Goat – This is of course not a predicted date but is just what the news seems to be telling us. …parliament must get this “basket” of laws completed… We know that parliament has come back into session and we wait to see their agendas. …we are hearing increased pressure to implement the Tariffs in boarder areas, especially with the Kurdistan region. Again I will say this new Tariff is like a double edged sword without having an international currency. [post 2 of 2]
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Mnt Goat – It seems…the further we go into January the clearer it is appearing to us that Iraq fully recognizes and intends to implement the needed currency reforms. They also know they can not fool around with their political stalling any longer. This week the Abadi’s council of ministers has a meeting to review radical solutions to rid Iraq of it’s economic crisis. Based on the best information we have at this time it now appears that the IMF and Iraq are working closely together towards a late February/ early March timeline for movement to Article 8 of UN charter for Iraq. [post 1 of 2….stay tuned]
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Poppy3 – DISCUSSION BETWEEN IRAN CBI AND IRAQ CBI TODAY [TUESDAY 1-19-16] AN AGREEMENT WAS REACHED THEY WOULD REFRAIN FROM IRAN CHANGING THEIR RATE TILL IRAQ COULD RELEASE THEIRS AND BECAUSE THEY ARE TRADE PARTNERS IF ONE CHANGES BEFORE THE OTHER THEN IT WOULD CAUSE TOO MUCH DISPARITY BETWEEN THEM AND ONE WOULD BE AT A BIG DISADVANTAGE. THEY WILL GO TOGETHER AND SOON AS POSSIBLE ACCORDING TO BAGDAD RESIDENT. …IT MAKES SENSE TO ME AND SOUNDS VERY PROMISING…
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Millionday – LINKING THE IRAQI DINAR TO THE GLOBAL ECONOMY — ACHIEVES THE MONETARY VALUE OF THE DINAR AGAINST GLOBAL CURRENCY. THE PAIRING THROUGH THE INTERNATIONAL EQUATION COMPLETELY WILL DETERMINE THE VALUE OF THE DINAR IN THE GLOBAL MARKET. I HAVE TO SAY — VERY EXCITING. [post 2 of 2]
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Millionday – “An invitation to link the Iraqi dinar to the global economy” UNDERSTAND THIS IS STOCK REPRESENTATIVE — OBVIOUSLY TALKING ABOUT PAIRING CURRENCIES AND ENTRY OF THE DINAR TO THE CURRENCY MARKET AND THE GLOBAL MARKET. THE PICTURE THEY ARE PAINTING IS >>> THE MARKET ECONOMY. IN ORDER TO ENTER THE GLOBAL MARKET IT HAS TO BE DONE WITH FAIR TRADE — MEANING THE INTERNATIONAL EQUATION THAT ALL COUNTRIES ESTABLISH THE GLOBAL VALUE WITH — — ECONOMICS 101. [post 1 of 2….stay tuned]
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firefly – IMF and world bank put into bank law quite a bit ago that IRAQ will not free float! Anybody that thinks Iraq has time to free float from 5 cents is well…..lol. The further oil drops the higher the initial release needs to be…period. So they have to do this NOW!
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Kaperoni – Article: “An invitation to link the Iraqi dinar to the global economy ” Quote: “noting the importance of the introduction of the Iraqi dinar to global markets.” This is pretty much how we have described moving to Article VIII, ending the auctions, international investors, Balassa-Samuelson effect, etc. Sooner or later if they want a market economy they have to transition the dinar and banking system. No way to avoid it. So lets hope that this is a tip off of what is to come. …Iraq has accomplished a lot the last 3-6 months with much more to come this year. The important thing to take away from this article is the description, the plan, the process. This economist clearly gets it, and is “inviting” the CBI to be bold, and make the move. Something we all want to see happen. We have talked about it for a few years now..and now we must let it come to us.
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wmawhite – The IMF has nothing to flip flop about…the IMF has stated clearly year after year exactly what needed to be accomplished by Iraq (CBI, GOI) and now, finally they have apparentally gotten serious about doing what was needed to do…Keep your eye on the ball.
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BGG ~ “This news over the last 72 hrs… You cannot imagine how excited I am about what we are seeing right now! Do I know exactly when? Absolutely not. Do I know what (the rate)? I don’t know. But I DO KNOW – This is good stuff for us. If you’ve been an investor with Dinar waiting for something to happen, this news right here…this is SPECTACULAR!! This is what I can tell you for sure.”
from BGG click-n-listen call 1-19-16
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from 01/19 – 8:30pm CST
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tlm724 – Article quote: “pointing to the importance of linking the Iraqi dinar to the global economy and thus achieve a monetary value to him in front of the world’s currencies, which in turn will give the power of the economic process within the country. ” I love that, he is stating what we want and have been waiting for all these years! Link the dinar to the world, give it presiage, in other words lift her up buttercup, show the true value! Quote: “that the most important results of the unification of laws with economic applications in a market economy theory is to link the Iraqi dinar to the global economy and thus achieve the monetary value of the dinar against the global currency ” link the Iraqi dinar to the global economy and thus achieve the monetary value of the dinar against the global currency! Bring it on baby, we’re so ready!
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firefly – [Did they release the lower denoms?] No…But it’s getting pretty exciting waiting! ...Iraq is moving into Article 8. Once in article 8…no turning back! With the IMF monitoring the reform, the contract Zebari, Alak and CL signed and the agreements between the UN, US and IMF…THEY HAVE TO MOVE FORWARD AND FAST! IMO, EVERYTHING is a go.
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Delta – …this announcement gives no numbers and they are being told to do this based on international standards…this is very important information. …this article about linking the Iraqi dinar globally…this guy I believe is the President of the Iraqi Stock Exchange and he talks about linking the dinar globally…they have to do this and they know it…this guy knows what is happening and understands that the government and the CBI are about to do something and we should all understand this. [post 2 of 2]
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Delta – Article: “An Invitation to Link the Iraqi Dinar to Global Economies” There is a lot information going on…one of them of course is the announcement from the CBI and…we don’t think it will be 1180 or 1182...but you do remember basically the same announcement that came from the CBI back in December telling all the banks to get ready…the first announcement back in December was talking about the rate that came out the 1182 and 1180 but this announcement that came out two days ago doesn’t have any rate they are just basically telling all their banks to calculate numbers based on the numbers from the CBI… [post 1 of 2….stay tuned]
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Frank26 – Me personally I’m ecstatic…I am really happy because the things we are seeing now in front of us…no hearsay, not rumors, not guesstimations, but the things they are showing us… Well these are steps for a Monetary Reform of a currency for a country. If not, someone is wasting a lot of time and a lot of money to accomplish something like this. …the Monetary Reform of the Iraqi dinar right now…is going about its business doing a very masterful job… IMO. …there is a lot of leaking going on…about changing the exchange rate… CHANGING THE EXCHANGE RATE. Article: “An Invitation to Link the Iraqi Dinar to Global Economies” …two days ago the CBI puts out an announcement that tells the rest of their banks to get ready to deal with international foreign currency…this is amazing.
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wmawhite – [ I find myself with unbelief in my heart – what would you loike to say to me and others who feel as I do?] look at this from today: Aritcle quote: “An invitation to link the Iraqi dinar to the global economy” This is what the IMF told the world they expect in the first part of 2016. One other statement:..from the article: “linking the Iraqi dinar to the global economy leads to obviate the need for an auction of hard currency, which will determine the dinar exchange rate universally“
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Iraqi Dinar/Dollar auction (most recent listing) 01-19-15
Currency Auctions Announcement No. 3118
This daily currency auction was held in the Central Bank of Iraq on the 01-19-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 27 |
| Number of remittance companies | 23 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 135,279,379 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 135,279,379 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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BGG – [Are we that close to the day we have been waiting for for so long?] Very. [Seems to me they are getting ready for something big. Something oil can’t do for them? Could it be an RV?] There is virtually – NO OTHER ANSWER!! [so they will place it on the forex and let it fly?] There are those that think so – I have my doubts, more so lately. I am beginning to think it will be a “fixed number” announcement… and a “semi-managed” float after… [Are you saying, without saying, you expect this to pop before the 21st of January?] No – I’m NOT saying that – but it is ENTIRELY POSSIBLE. ENTIRELY!
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Millionday – THE IMF IS HELPING IRAQ BY RESPONDING TO THE UNEXPECTED EXPENSE OF TERRORISM AND ALSO THE LOW OIL PRICING — THIS IS A PROGRAM THAT WILL RUN FROM NOVEMBER 2015-DECEMBER OF 2016 — THIS HAS ALREADY BEEN AGREED UPON BY IRAQ AND THE IMF. THE IMF IS WORKING WITH AND MONITORING THE IMPLEMENTATION OF THE ECONOMIC PROGRAM THEY HAVE WORKED WITH IRAQ TO GET TO THE POSITION TO IMPLEMENT AND NOW WILL HELP THROUGH PER AGREEMENT TO DECEMBER OF THIS YEAR 2016. GREAT NEWS.
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Enorrste – Article: “An invitation to link the Iraqi dinar to the global economy ” Quote: “...the most important results of the unification of laws with economic applications in a market economy theory is to link the Iraqi dinar to the global economy and thus achieve the monetary value of the dinar against the global currency…” When this person…calls for a “linking of the Iraqi dinar to the global economy” he is talking about moving to a floating dinar. The dinar is already linked to the dollar, so that cannot be what he is referring to. In fact, he is even more specific...where he refers to the global market determining the exchange rate of the dinar through a basket of currencies. This is the definition of a float. He is also quite clear that he has no fear that the value of the dinar will fall; on the contrary, he mentions Iraq’s high reserves and believes that the dinar will be among the strongest currencies in the world. He clearly understands the economics.
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