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…

Mrs. BGG

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CURRENCY CODE SELL BUY

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

Indicative rates – 02.04.2015

http://www.cbi.iq/

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People who have time on their hands will inevitably waste the time of people who have work to do. – Thomas Sowell

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*** Current Posts ***

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Kaperoni – Even though we see almost daily requests to devalue the dinar, or fears of emptying the reserves, the real pro’s are well aware of funds, etc and the plan continues to move forward. I think it is safe to say, that the plan does not include an economic collapse so we just need to watch and let it come to us. Once the key laws pass, I think we should brace for the big bang and launch of the Iraqi market economy.
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Millionday – Article quote:  “Department of pension affairs, social workers and security called for creditors of the campaign cards of “Ki-Card” and “manual exchange” to receive pensions for the months of January and February will be held on the seventh and eighth of this February.”   FEB 7TH AND 8TH THEY ARE SAYING ELECTRONIC BENEFITS WILL BE LOADED.
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rcookie –  THIS IS WHY WE HAVE BEEN SO JACKED UP SINCE BEGINNING OF JAN AND ACTUALLY THEIR LAST REVIEW PERIODS…SEPT & DEC 2015…AND LOOKING FORWARD TO FEBRUARY… AND IMF & UN THERE TO MAKE SURE THAT WHEN THE BUDGET DISBURSEMENTS ARE MADE TO PROVINCES…THERE IS A SEAMLESS EXECUTION ALONG WITH TRANSFER OF POWERS FROM THE CENTRAL GOI TO THE INDIVIDUAL PROVINCES…THE UN IS THERE TO ASSIST AND MONITOR…THEY ARE FOLLOWING A CAREFULLY ARRANGED ACTION PLAN…HANG IN THERE EVERYONE…YOU CAN SEE THE TAPE AT THE FINISH LINE…  [post 2 of 2]

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rcookie – IRAQ HAS BEEN ON THIS IMF MANDATE AUDIT SINCE 2011…WHICH IS WHY THEY HAVE SO MUCH DONE TOWARD WHAT THEY ARE TASKED FOR IN THIS ONE….IRAQS REPORT CARD FROM IMF TOWARD…INDIVIDUAL MANDATES…AND REVIEW DATES FOR COMPLIANCE…THEY HAVE MET AND EXCEEDED.  THE NEXT REVIEW BEING END OF FEBRUARY...  THIS IS WHY SO FRUSTRATING WITH ANY NEGATIVITY BECAUSE SO OVERWHELMINGLY POSITIVE WITH WHERE THEY ARE AT…   [post 1 of 2….stay tuned]
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Kaperoni – Article quote: “…a lot of proposals submitted and through every means, but the government did not take all the proposals, the most important of which float the currency and raise the value of the Iraqi dinar…”   This is starting the heat up if this article is any sign of the process. Tariffs are now in place, I have read about mechanisms for taxes in articles…over the last few weeks, we see the CBI activating edinar/ebanking etc…so we are getting closer to Article VIII and the float (which will delete the zeros). But we must see the laws pass to create the environment. Let it come to us.
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Millionday – Aricle quote:  “The Iraqi parliament on Wednesday, with the central bank and managers of banks government plans to overcome the current financial crisis.”  …THE MEETING WAS ABOUT THE INTERNATIONAL RATES — AS WELL AND THE DEVELOPMENT OF BANKING AND THE DINAR EXCHANGE RATE…THIS IS GREAT WHOOOPOW.
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Poppy3 – MY CONTACT INFORMED YESTERDAY A  ABADI STAFF MEMBER SAID THEIR SECURITY ISSUES ARE NOT ISIS OR DAASH BUT INTERNAL CORRUPTION.  SAID THEY ARE MAKING HEADWAY BUT SLOWER THAN ABADI WANTS.  …ABADI WAS ADAMANT ABOUT COMPLETING THE REFORM THIS MONTH.
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rcookie – THE TARIFFS…RATES AND CODES LIST BY SECTOR WAS PUT OUT LIKE 2 WEEKS AGO...AS WELL AS ALL LAND…AIR & SEA BORDER ENTRY POINTS WITH THEIR CORRESPONDING CODES FOR CUSTOMS TARIFF ACTIVATION…TARIFFS AT THE BORDER ARE PAID BY IMPORTERS BRINGING CONTRACTED GOODS INTO COUNTRY…AND COLLECTED BY CUSTOMS BORDER AGENTS….THOSE GOODS ARE THEN BROUGHT INTO RETAIL MARKET WHERE THE PRICES WILL REFLECT THEIR FAIR MARKET VALUE WITH INT’L EQUATION FACTORED IN…AND THEN REALIZED AT POS (POINT OF SALE) BY END CONSUMER…FINALLY A FAIR PLAYING FIELD FOR THE IRAQI PRODUCES… 
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Iraqi Dinar/Dollar auction (most recent listing) 02-04-15 

Currency Auctions Announcement No. 3130

This daily currency auction was held in the Central Bank of Iraq on the 02-04-2015

The results were as follows:

More: https://dinarupdates.com/observer/
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firefly – We are at a point now where agreements are going to be activated, no ifs or buts. Iraq has an obligation to get er done!
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Millionday – Press conference quote:  “within the coverage of the budget will be put national bonds at home to be purchased by citizens at an interest rate similar to the interest which are raised for foreign bonds,” adding that “these bonds will bring good return to the citizen“.   THEY HAVE ANNOUNCED TO THE CITIZENS THAT NOT ONLY ARE THEY ABLE TO COVER THE BUDGET AND AGREEMENTS BUT ALSO THEY WILL BE ABLE TO INVEST IN THE BONDS AT A GREAT RETURN — THIS ANNOUNCEMENT IS A HUGE ONE TO MAKE IN IRAQ RIGHT NOW IN THE ECONOMIC CONDITION THEY ARE IN.  THIS REQUIRES THE MOVEMENT OF FUNDS TO EVEN BE POSSIBLE…I KNOW I AM EXCITED.
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Mnt Goat – Update: Fighting ISIS:  It is my opinion that the battle for Mosul will not be long. I base this statement on all the planning I see and my conversations with many of my friends now stationed in the area. I can see they plan to move this along as quickly as possible… I believe they are still planning within the end of Feb timeframe for completion of this campaign.
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Millionday – I HAVE ONE MORE PART OF THOSE ORDERS:  “…by end-February 2016, appoint international auditors to audit the latest financial statements of Rasheed Bank and Rafidain Bank according to international standards…”  THIS IS FORMAL IMF DOCUMENT RELEASED BY IMF. NOTE — AGAIN — THE END OF FEB.  THEY COMPLETED AUDIT SO THIS WILL BE JUST TO OPEN THESE BANKS AND COMPLETE THEIR REFORM ON THESE TWO BANKS.
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Millionday – Report quote:  “by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.”  THIS IS HUGE AND VERY IMPORTANT AS IT WAS THE MEETING ABOUT ARTICLE 8 WITH THE IMF AND THE REQUIREMENTS.  THE END OF THIS MONTH...WHOOOPOW.   [post 1 of 2….stay tuned]
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tman23 – The opinion was that Iraq needed a stable government to revalue it’s currency… Sistani just called for the replacement of Abadi which only shows that the Supreme Leader has lost confidence in Abadi... A citizen uprise against the government is not favorable… The talk of not being able to meet salaries come April is not favorable… This is not to say that Abadi doesn’t have the plan in motion to revaluation…or the IMF for that fact…BUT Sistani has spoken and now they don’t have time to play or delay…That goes for both Abadi and the IMF if a revaluation is truely in the plans.
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Enorrste – Therefore, if a local Iraqi has a choice between pulling his dinars out from under the mattress to go to the market or taking his debit card, I would vote for the debit card.  In time, and I suspect in a short time, confidence in the banking system will increase and more and more hidden dinars will come to the surface (there is also the lure of buying gold coins).  All dinars that are brought to the surface will be destroyed and Iraq will join the world economy, as the IMF has stated.  It is an ambitious goal, but with the backing of the world’s bank, I am confident that it will succeed  The alternative is not acceptable, either to us as investors or to the IMF.   [post 2 of 2]
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Enorrste – Article:  “The central bank is preparing to launch the e-dinar recommends depositing the salaries of all employees in banks”   First, it seems apparent to me that this new initiative is being driven by the IMF rather than by the CBI or the GOI.  That being said, I foresee things moving at a somewhat faster pace here forward.  Second, to the extent that the GOI/CBI/IMF require payrolls to be made electronically it is my opinion that people will fall in line quickly with the simplicity of an electronic system.  Think about the US:  we all used to use dollars (assuming you are over 60), but now we almost all use a debit card (at least I do).  It was not a hard sell.  In fact, the transition was painless.   [post 1 of 2….stay tuned]
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Mnt Goat – Parliament is now in session way over a week already and we have not yet seen much on the needed laws we have been waiting for. But we know last weekend there was a huge meeting to talk about the stalling and to get support from all the regional leaders. So far I have heard the meeting was a success but still we do not see the laws on parliament’s agenda.  Earlier this week we heard confirmation that the Amnesty law is agreed upon by all and ready for a final vote.  We are hearing the government wants to go electronic this month for payment of salaries.  I can say without a shadow of a doubt that there is absolutely NO CONNECTION between payments of these salaries and the RV.  Even though I keep repeating what we should now be looking for I have also been presenting PROGRESS to you slowly but surely. There has been a much needed, more accelerated progress in Economic Reform and Currency Reform as of lately.
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Backdoc – WE HAVE TO BE ELATED AS WE WATCH A MASSIVE NUMBER OF LAWS FINALLY BEING IMPLEMENTED, TARIFFS READY TO GO, TPP ABOUT TO BE SIGNED ON THE 4TH AND 5TH, SECURITY ABOUT TO BE WRAPPED IN FALLUSHA AND MOSUL!  NOW THAT IRAN HAS AN OFFICIAL INTERNATIONAL RATE I SINCERELY DOUBT “THE DEAL”, WOULD ALLOW IRAN TO RUN LIKE THE GINGERBREAD MAN TO A NEWLY VALUED CURRENCY WITHOUT IRAQ AND POSSIBLY S.A.!
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wmawhite – …if you had to start buying and selling outside of the USA using your own money and you had to use $1182.00 each time you purchased one small item that would normally cost $1, wouldn’t you start using your money smarter?  If you had 91 tons of gold and 100s of years of natural assets…wouldn’t you arrange deals with other countries so that you would not have to pay $1182 for that $1 item? Instead, you would explain how you were more valuable and your one dollar was worth much more. This is what will take place when Iraq enters the economy market.   [post 2 of 2]
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wmawhite – Many members of parliament do not get the “big picture” when it comes to long term strategy and competing on the world economic stage. Then there are others that get part of the “big picture”, while are very small number are actually involved in this actually process.   [Isn’t burning through the reserves a bad idea?]  …the IMF told you, me and the world what will stop that…what was it?  The move away from Multiple Currency Practice (MCPs).  …honestly…you ought to drop the term RV…concentrate on what will bring the change in the value of the IQD…and that was told to you by the IMF.   …the CBI in conjunction with the IMF are preparing to enter the economic markets.  [post 1 of 2….stay tuned]
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Frank26 – The IMF is in contract with the CBI and the GOI together…there is a target date and it is being rumored all over Iraq right now.  Iraq is on the verge of something happening to the citizens…to the banks…to the Kurds…to Sistani…to the GOI…and there are more…but all are waiting to see the CBI’s next move…and they said 2-3 days ago they were going to work on that.  The Minister of Planning…says to fix their problem they need to raise the rate to 1 to 1, actually he said a rate of about 1.13 to 1.15 for 2-3 years and then he said, maybe after that time period maybe we can see if we can take it up into the $3 range.   [post 2 of 2]
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Frank26 – …the CBI right around Thursday going into Friday…they made some moves and there is a good sound reason for these moves…it was around that time that our TEAMS found out that they were about 2 or 3 days away from taking the recommendations that were given to them from the IMF and many other agencies they are working with right now and move forward with the solution to their liquidity problems in Iraq.  [Guru] DELTA and I talked and thought good gracious if they do this there is only one way and that is to lift the value of their currency…these guys are very serious about taking the recommendations of the IMF and fulfill the solutions to many of their problems…paying debts to people…the deficit in their budget…all the bad things that are going on with Iraq right now with their reforms…2-3 days…well that would put us right about now…today.  It is of no exaggeration when we say there was a lot of activity and…some very powerful articles that had some equally powerful statements.   [post 1 of 2….stay tuned]
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