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
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1338.497 | 1337.828 |
| British pound | GBP | 1696.288 | 1695.440 |
| Canadian dollar | CAD | 917.203 | 916.745 |
| Swiss franc | CHF | 1210.445 | 1209.840 |
| Swedish krona | SEK | 143.577 | 143.505 |
| Norwegian krone | NOK | —– | —– |
| Danish krone | DKK | —– | —– |
| Japanese yen | JPY | 10.864 | 10.859 |
| Special Drawing Rights |
SDR | 1666.017 | 1665.184 |
Indicative rates – 05.17.2015
http://www.cbi.iq/
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Don’t handicap your children by making their lives easy – Robert Heinlein
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*** Current News ***
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Parliamentary Finance rejects the dictates of the International Monetary Fund
He criticized the parliamentary finance committee member Ahmed Sarhan Sarhan, Sunday, the dictates of the International Monetary Fund and invite them to reduce the federal budget in exchange for the agreed loan already disbursed.
Said Sarhan “The budget is a federal law in force, voted by the House of Representatives after extensive discussion, and can not be amended only through a veto of the law of the Federal Court and sent back to parliament to amend it according to specific paragraphs, or through a proposal submitted signed by fifty deputy to modify it according to specific conditions.”…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – …ANYONE SUBSCRIBE TO THE TWIN SHIITE BROTHERS WEDDING COMING OUT TOGETHER THEORY. IF THERE IS 1 CONSISTENT…PERVASIVELY IMPORTANT ECONOMIC INDICATORS SHABIBI…TURKI…IRAQI ECONOMISTS…AND OTHER COUNTRIES (ESPECIALLY IRANS) CENTRAL BANK GOVERNORS…STATE AS KEY TO MONETARY AND CURRENCY VALUE REFORM IN INTERVIEWS AND STATEMENTS IT IS… …A PRE SANCTION LIFTING ARTICLE… FROM INTERVIEW LAST JUNE WITH IRANS CENTRAL BANK GOVERNOR…WHO SAID THAT POST SANCTION CONSIDERATION OF CURRENCY REVALUATION FROM IRAN COULD NOT EVEN BE CONSIDERED UNTIL THEIR INFLATION RATE WAS STABILIZED AND UNDER CONTROL….
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Chattels (Dinar Guru) – “…to extend the current legislative term Council for the month of the current expiration date of his ( Jubourri * ) dismissal, in the hope that the Federal Court haste in deciding this case.” “…the extension does not exceed on 30/05/2016 because Article 58 of the Constitution decided ot only for thirty days.” It appears that even with the thirty day extension of Parliament that May 30 is the last day of this session allowed under the constitution. I surmise that the current session was to have ended on or about May 1st therefore the extension relates back to that date and not beyond thirty thence.
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Millionday (Dinar Guru) – Article quote: “Political likely that the House of Representatives held its meeting tomorrow amid positive reactions by the Kurds in the presence of the next parliament sessions, confirming everyone ‘s agreement on the need to extend the legislative term and to continue the political process…” TUESDAY IS SEEN AS A SURE THING…THEY MET ON SUNDAY AND THIS MONDAY NEWS SO THEY ARE REFERRING TO TUESDAY…ALL ARE IN AND THIS INCLUDES THE KURDS…IT APPEARS TO ME AS MONEY IS INVOLVED. THE LEGISLATION IS ALL THAT IS ON THE SHELF…THIS IS TO MOVE FORWARD WITH REFORMS OBVIOUSLY. SO WHERE WE ARE IS THAT THE ECONOMIC AND POLITICAL REFORM IS BEING RESOLVED IN THE NEXT FEW DAYS AND THIS IS TIME TO PRAY AND HOPE THAT NOTHING HAPPENS AND THEY MOVE FORWARD. THIS IS FANTASTIC NEWS…VERY ENCOURAGING TO SAY THE LEAST…
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Poppy3 (Dinar Guru) – they are trying to complete the list of TO DO’S THEY WERE ISSUED MONTHS AGO TO GAIN GLOBAL ECONOMICALLY RECOGNIZED. AS I have said the IMF stated the time line ALL WE can do is pray they complete the task for them to meet the issued time table. today and for many days lately we see them placing things in motion in fast mode to meet the time in june they are to move to a GLOBAL market ECONOMY. ITS IS EXTREMELY ENCOURAGING AND NOW WITHIN THEIR REACH.
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rcookie (Dinar Guru) – Article: “Hilali: Jubouri will be held Tuesday’s hearing full quorum and our deputies will not Ahoudroha” SO TUESDAY MEETING EXPECTED FULL QUORUM WITH KURDS ATTENDANCE… BUT REFORM FRONT NOT ATTENDING…
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Shredd (Dinar Guru) – Article: “World Bank loans require financial control over Iraq and opposition Aaduha “detraction of national sovereignty.” This is all about the need for Iraq to be diversified in its outputs. Agriculture is a big one and…the land continues to be restored to produce. When Iraq is more diversified, it will be able to financially survive the swings in the oil prices. …a lender won’t lend if they didn’t believe in or trust repayment.
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Bondlady (Dinar Guru) – Article: “Kurdistan instruct the deputies and ministers to return to Baghdad to rescue the country from the crisis” barzani…instructed them to go [back] to [parliament] and save the country…like they have nothing to do with the shape of the country now…when his and another bloc…rode the quota system to death to stall all the important laws that we need to see… bidens plan for them…the quota system… nothing gets done for years…they all know it and the kurds and the national alliance want to keep it this way…they would just sit it out an let Iraq suffer more and even might fall…if…it wasn’t for them needing Iraq so bad right now…THEY NEED THE MONEY…
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Iraqi Dinar/Dollar auction (most recent listing) 05-17-16
Currency Auctions Announcement No. 3200
This daily currency auction was held in the Central Bank of Iraq on the 05-17-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 128,807,180 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 128,807,180 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Mountainman (Dinar Guru) – We See IRAQ/IRAN Ready to MARCH into GLOBAL BLISS and that is VERY TELLING as to the {COORDINATION} taking Place w/ALL the Other GLOBAL ECONOMIES…These Are EXCITING and EXPECTED Steps…
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Millionday (Dinar Guru) – THIS IS WHAT THEY NEED AND OF COURSE WHAT ALL INVESTORS WILL GAIN FROM == THE REASON IS THAT THE DINAR HAS TO BE PRICED SO THEY CAN BE INTERNATIONALLY ACCEPTED. OBVIOUSLY HUGE PROGRESS ON THE WAY == LOVE IT. [Is it a discretionary call as to when the fair market value would be applied or would it be normally be before or after the stages of going to a market economy?] IT WILL HAVE TO BE DONE BEFORE THEY GO TO MARKET AND ALSO BEFORE THEY GO TO SDR IF THAT TURNS OUT TO BE WHAT HAPPENS == EITHER WAY OUTSIDE OF IRAQ IT HAS TO HAVE THE GLOBAL EQUATION APPLIED. [post 2 of 2]
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Millionday (Dinar Guru) – Article quote: “The government program stressed the need to implement phase mission towards building a strategy for the development of the economy and to support and develop the private sector to take its role in contributing to the new construction of the economy…” A FREE MARKET ECONOMY IS PART OF THEIR CONSTITUTIONAL RIGHTS… OBVIOUSLY THIS IS THE PLAN TO ACTIVATE TO A PROMISED MARKET ECONOMY. THE PRIVATE SECTOR IS GOING TO WORK TO IMPLEMENT CBI’S PLANS AND GOALS FOR IRAQ… [post 1 of 2….stay tuned]
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RCookie: HERE IS NEWS RECAP FOR TODAY (from Sun 5/15)….
IN PARLIAMENT – COUNCIL OF REPRESENTATIVE PRESIDENT MEETS WITH BLOC HEADS & PARLIAMENT COMMITTEES DISCUSS RECENT BOMBINGS……JUBOURI MEETS WITH ECONOMIC COMMITTEE DISCUSS REDUCING BUDGET MECHANISMS…NERCHIRVAN DIRECTS KURDISH DELEGATION RETURN TO BAGHDAD…POLITICAL BLOCS AGREE ON HOLDING COMPREHENSIVE PARLIAMENT SESSION THIS TUESDAY 17TH AND RELEASE STATEMENT WITH 7 RECOMMENDATIONS…FULL QUORUM PARLIAMENT SESSION TUESDAY WITH KURD ATTENDANCE BUT REFORM PARTY NOT ATTENDING PER HILALI…ABADI ATTENDS DAWA PARTY MEETING TO DISCUSS RETURN TO PARLIAMENT…ABADI ASSERTS CoM SESSION FOR AGENDA TOPIC DISCUSSION NOT QUORUM OR VOTING…MASSOUD MEETS WITH MAHMOUD DISCUSS PARLIAMENT AND STATEMENT TO PAY CLOSE ATTENTION TO THIS ISSUE AND EVERY EFFORT FOR FEDERAL COURT TO DECIDE QUICKLY WITH COMPLETE & OBJECTIVE NEUTRALITY PARAMOUNT…
KERRY MEETS WITH KING SALMAN IN SAUDI ARABIA ABOUT SYRIA B& LIBYAN CRISIS…NEW AGREEMENT BETWEEN IRAN & IRAQ TO IMPORT GAS…PYD SEES NO REASON TO KEEP SYKES PICOT AGREEMENT… MALIKI ACCUSES ABADI OF TEARING SHIITE AND NATIONAL ALLIANCE…KUWAIT INVITES IRAN & OIL PRODUCERS TO FREEZE PRODUCTION…JAFAARI & MASSOUD MEET SEPARATELY WITH UN KUBIS DISCUSS SECURITY AND DISPLACED CRISIS & ISF & PESHMERGA SUCCESS…ABADI & MASSOUD MEET DISCUSS 3 FILES.. .UNIFIED PARLIAMENT SESSION..SECURITY ISIS…BAGHDAD BOMBINGS…ABADI OFFICE CALLS ON POLITICAL FORCES PROVIDE ATMOSPHERE FOR RETURN OF PARLIAMENT…TRADE BANK OF IRAQ WINS 2016 INT’L UNION OF ARAB BANKING ACHIEVEMENT OF EXCELLENCE AWARD…AUCTIONS START WEEK AT $126 MILLION…
IMPORTANCE OF INVOLVING PRIVATE SECTOR IN GREATER ECONOMIC POLICY DECISION MAKING ROLE AND MARKET LEADER…DRIVING IRAQI BUSINESS & INVESTMENT ENVIRONMENT IMPROVEMENT…AND ATTRACTING FOREIGN CAPITAL AS WELL AS PUBLIC & PRIVATE SECTOR PARTNERSHIPS….
URGED TO SUPPORT NEW LEGISLATIVE ENVIRONMENT ON REFERENCE TERMS OF ARTICLE 25 OF CONSTITUTION…WITH STRATEGIES & LAWS OF ECONOMIC REFORM AND PRIVATE SECTOR DEVELOPMENT…TO ASSURE ITS ACTIVATION AND LEADERSHIP OF IRAQ’S MARKET IN THE FUTURE…SPEED IMPORTANCE OF PERPETUATING & ACTIVATING PARTNERSHIP & DIALOGUE AND COOPERATION BETWEEN PRIVATE SECTOR & GOV’T TO CONTRIBUTE TO DEVELOPING POLICIES…MECHANISMS & STRATEGIES IMPLEMENTATION AND FOLLOW UP….THIS WILL PROMOTE ADDITIONAL NON-OIL REVENUES TO GDP & BUDGET WHILST PROMOTING MICRO..SMALL..MEDIUM AND LARGE ENTERPRISE AND SUSTAINABLE ECONOMIC DEVELOPMENT….
PRIVATE SECTOR WILL DRIVE CENTRAL INFRASTRUCTURE INAGRICULTURE…INDUSTRY…COMMERCE…TOURISM…MINERALS…ENERGY & UTILITIES AND ACTIVATE ROLE OF PRIVATE BANKS WITH SOFT LOANS TO PRIVATE SECTOR…INCREASED TAX REVENUES WITH COOPERATION & COORDINATION WITH MINISTRIES OF FINANCIAL INSTITUTIONS…THAT BUILD AN ACCURATE & TRANSPARENT DATA REPORT CREATION AND SUBMISSION…..AGAIN TALKED ABOUT QUALITY PRODUCT STANDARDS AND SPECIALIZED HUMAN RESOURCE TRAINING TOWARD PRIVATE SECTOR…
THIS IS ALMOST AS IF THE IMF WAS HOLDING THE MOVING PEN…AS THIS WAS BEING WRITTEN…..TO THE LETTER!!!….
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – THEY ARE AT THIS MOMENT…IN AHMAN JORDAN…SITTING ACROSS THE TABLE LOOKING THE IMF…WB AND G7 DELEGATES IN THE EYE…NEGOTIATING THE FINAL TERMS OF SBA WHICH IS THE ONLY POSSIBLE HOPE THIS COUNTRY HAS FROM TOTAL ABYSS…THEY HAVE JUMPED THROUGH HOOPS TO COMPLY AND DEMONSTRATE EXEMPLARY PERFORMANCE UNDER SMP…AND HAVE EARNED THIS OPPORTUNITY…WHY OR HOW COULD THEY LET THIS FAIL NOW…AND IF SO…THEN WHAT…
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Millionday (Dinar Guru) – Article quotes: “Finance Minister Hoshyar Zebari arrived on Saturday, the Jordanian capital, Amman, on top of a large government delegation that included the governor of the central bank and adviser Economic Prime Minister and senior ministries of oil and electricity, planning officials and BSA as well as public bodies for Customs, taxes and retirement, experts and the Ministry of Finance and the World Bank Central.” “to resume negotiations with the International Monetary Fund to seal the Stand -By agreement…” THIS IS A FORMAL MEETING WITH IRAQ AND THE IMF… INTERNATIONAL MONETARY FUND. NOTE == TO SEAL THE AGREEMENT. [post 1 of 2….stay tuned]
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Mountainman (Dinar Guru) – Article quote: “David Lipton, first deputy managing director of the International Monetary Fund arrived in Tehran Sunday. He will confer with the governor of the Central Bank of Iran…The IMF delegation will also call on economists, bankers and business leaders, the CBI…” These ARTICLES are CARRYING A FRESH WAVE after WAVE of the THEME of IRAN…The ESSENTIAL Partner of IRAQ…these are Also WORTHY of ONES ATTENTION…IMO. Well 2 SHIA BROS have A Date…A WEDDING DATE that is…and NOW the IMF and Other Relevant Agencies Are on Task to Bring IRAN Up to Speed and in COORDINATION w/their SHIA BROTHER {IRAQ}…Hey IMF is this “WHAT” You also Have Been Discussing in the CONCLUSIVE MEETINGS w/IRAQ…???…Gotta Love it…For (IT) is WHAT We {ALL} are Waiting to See…Hey WTO…HOLD On…the WAVES of CHANGE are COMING IN…IMO.
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Iraqi Dinar/Dollar auction (most recent listing) 05-16-16
Currency Auctions Announcement No. 3199
This daily currency auction was held in the Central Bank of Iraq on the 05-16-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 126,346,187 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 126,346,187 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Millionday (Dinar Guru) – THIS IS TO ENSURE THE CREDIT RATING FOR INVESTORS AND ALSO THE MOVE TO ACTIVATE THE STANDBY AGREEMENT AND MAKE IT REALITY. THIS IS A HURRIED EVENT TO MOVE FORWARD WITH NOT ONLY THE ECONOMIC REFORM BUT ALSO TRADE == HENCE THE CUSTOMS AND TARIFF...IT LOOKS TO ME AS THOUGH THEY ARE MOVING FORWARD WITH THE ECONOMIC REFORM AND…OPENING THE BORDERS FOR INVESTORS == DOES THIS MEAN TODAY? WE DONT KNOW… BUT THIS IS HUGE HUGE HUGE. [post 2 of 2]
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BGG (Dinar Guru) – Sounds like to me – the IMF is putting some REAL PRESSURE on the GOI to get things back together and moving forward...IMHO…
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Mountainman (Dinar Guru) – …My ENCOURAGEMENT for You TODAY is be At REST…this is A LAUNCH of TIMING that Is Patently OBVIOUS… {ALL} We have DREAMED About… the FINAL STEPS of PROGRESS and The IMF/GOI’s Intentional DIRECTIVE to Receive LOANS and IMPLEMENT Procedures/LAWS that Will {DEMAND}/REQUIRE a CHANGE of their RATE this YEAR…Just as the IMF has Said…NOW is The TIME to PAY Close (ATTENTION) to that Which ONE has “HOPED” for and Believed there is A PURPOSE One has w/ this Blessing…for You…May We {ALL} be CONFIDENT and ASSURED of the TIMING of NOW…IMO.
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Aggiedad77 (Dinar Guru) – How interesting that we see Allak talking bonds in Beirut with the head of the Parliamentary committee on Economy and Investments as well as the head of the Iraqi National Business Council. Allak lays out a plan to pay Iraqi contractors with these bonds…thru what he calls “government debt bonds”…Why would a contractor be willing to take a bond based on worthless program rates of a country…perhaps because of good things being promised in the near term that will positively impact the value of said bonds…
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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Chattels (Dinar Guru) – Finance is driven more by ability to repay reliably and timely than the existing collateral. The fate of our investment may depend upon it. IMO. Finance is more interested in performance than potential is my point. Iraq has great potential, but can it perform. Iraq must function better in order to reliably perform. The IMF conditions precedent or attendant to a loan(s) are intended to improve upon function and performance by Iraq. The IQD, Iraqi script paper, is essentially a promise to pay. The script is in and of itself worthless without the ” full faith and credit ” of the Iraqi government. [post 2 of 2]
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Chattels (Dinar Guru) – The importance of politics or government in Iraq relates to the ability of Iraq to repay debt/support their currency. There is little question as to the assets/wealth of Iraq/collateral, but can Iraq produce the asset? Can Iraq get oil to the marketplace reliably. Iraq’s ability to produce reliably is dependent upon it’s stability and security. The budget, political stability and security all impact upon production and the payment of debt/currency support. Whether Iraq can make the necessary change(s) and assurances required by international finance (IMF) which is the subject of the meetings in Jordan may be critical for us. Iraq needs an acceptable international credit rating or standing to survive and thrive. [post 1 of 2….stay tuned]
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rcookie (Dinar Guru) – Presidency of the Council of Representatives Statement quote: “Concern for the democratic and political process of the project in the country through the early holding of a comprehensive meeting of the House of Representatives this week.” SO POLITICAL BLOCS MET THIS MORNING AND AGREED TO HOLD COMPREHENSIVE PARLIAMENT SESSION THIS WEEK…
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Parliamentary economy: IMF loans conditional on Administrative and fiscal reforms
Special – The parliamentary economy Committee member confirmed Najib, a brilliant Thursday that IMF loans conditional on Administrative and fiscal reforms.
Najib said l/balance “news/IMF loans will be given to Iraq within three years, a sign that” loans conditional on Administrative and fiscal reforms. ”
She added, “the reconstruction of the regions affected by terrorism from the priorities of these loans.”
It is said that economy and Investment Committee member Magda Tamimi revealed, earlier, about Iraq’s debt exceeded over $ 73 billion dollars in debt that includes all the Arabic countries and foreign debts.
Read More: http://www.dinarupdates.com/showthread.php?34388-Parliamentary-economy-IMF-loans-conditional-on-Administrative-and-fiscal-reforms
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Aggiedad77 (Dinar Guru) – …The 2017 budget…yes it is quickly coming to that time when budgets must be developed and guessed at…and the crystal ball for Iraq sees not much ado about anything…nothing to change for 2017 so they say…Well…my opinion…as this year moves forward, I can’t help but wonder if they will have much to crow about over new changes to their budget...new headway to be made going forward with realistic and international ramifications to be dealt with for the coming new year…don’t get your celebratory hats on just yet…but keep a sharp eye on this moving ball.
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Freeway Bill (Dinar Guru) – YOU DON’T KNOW THE DATE AND YOU DON’T KNOW THE TIME AND YOU CERTAINLY DON’T KNOW THE RATE! Sure, there are signs that we look for, but those signs have come and gone with no movement of the value and no major announcement. All of the stars have to align for this to happen and when it does, be ready…understand that the Blessing is upon us…but it could be a while yet or it may be processing now, who knows? The people in charge of it…
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wmawhite (Dinar Guru) – …this is the very, very first budget that we know about that has actually been executed…line by line.
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“Round Table” Dinar Call!!
“for Dinar News – that MATTERS!!”
from 5/12 – @ 7:30pm CST
Smart phone user link – Click here
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rcookie (Dinar Guru) – Article quote: “… Finance Minister Hoshyar Zebari said on Saturday, a large economic delegation to negotiate with the International Monetary Fund in the Jordanian capital Amman…” …NEWS OF ZEBARI ARRIVING IN AHMAN FOR IMF MEETINGS TO FINALIZE DETAILS OF SBA (STAND BY AGREEMENT) ALONG WITH SALEH…OIL & ELECTRICITY MINISTERS…PLANNING MINISTER… FINANCIAL CONTROL BOARD… CUSTOMS…TAXES & RETIREMENT EXPERTS…FINANCE MINISTRY AND CBI OFFICIALS…THE ARRANGEMENT FOR $15 BILLION OVER 3 YEARS…AND 6.4 BILLION SIGNED FOR BY ZEBARI FOR 2016…RELEASED IN JUNE…AND CONCLUDES BY CLEARLY OUTLINING THE FUNDS OVERVIEW OF RESERVE USE TO REFLECT EXACTLY WHAT IS OUTLINED IN IMF LOI/MEFP/TECH MOU…WHICH ENDS 2016 WITH $43 BILLION RESERVE LEVEL…NO CONSPIRACY… NO SKY IS FALLING…NO SURPRISES…SIMPLY ARRIVING AT EXACTLY WHERE THEY PLANNED FOR THEM TO BE…EXACTLY.
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wmawhite (Dinar Guru) – …IMO, we are at the point where the CBI starts the switch over/transition over to settling all…foreign obligation in IQD instead of USD…Once, the CBI starts in that direction…the question about the value of the IQD comes into play…IMO…this will be a seamless transition. IMO…that is where all of those trade agreements come into play…and yes, it is exciting.
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wmawhite (Dinar Guru) – Prior to the invasion, Kuwait was already conducting international commerce. Iraq is still in the process of entering the economy/global markets. Again, Kuwait was already a part of those markets prior to the invasion.
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