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 | 1320.058 | 1319.398 |
| British pound | GBP | 1736.949 | 1736.081 |
| Canadian dollar | CAD | 910.562 | 910.106 |
| Swiss franc | CHF | 1192.735 | 1192.138 |
| Swedish krona | SEK | 142.353 | 142.282 |
| Norwegian krone | NOK | 142.755 | 142.684 |
| Danish krone | DKK | 177.507 | 177.418 |
| Japanese yen | JPY | 10.775 | 10.769 |
| Special Drawing Rights |
SDR | 1661.892 | 1661.061 |
http://www.cbi.iq/
Indicative rates – 05.29.2015
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Courage is rightly esteemed the first of human qualities, because it is the quality that guarantees all others. – Winston Churchill
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*** Current News ***
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Poppy3 (Dinar Guru) – [I think they will wait till June 30 @ 11:59 PM.] I DON’T BECAUSE THERE ARE THINGS POST NEW RATE THEY WILL HAVE TO DO BEFORE FULL RECOGNITION GLOBALLY. I THINK THEY WILL NEED TO POST A NEW RATE AND THEN IT WILL TAKE A FEW DAYS OF PROCESS BEFORE IT WILL BE ACCEPTABLE FOR ANYONE TO EXCHANGE…JUST MY PERSONAL THOUGHTS. I HOPE I’M WRONG AND THE DAY IT CHANGES IT IS FULLY TRADABLE. TIME WILL TELL…
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tlm724 (Dinar Guru) – Article: “IMF loan makes Iraq subject to international economic standards” Quotes: “the International Monetary Fund, World Bank and international partners have agreed, in the May 19, 2016, to give Iraq a loan of $ 15 billion at an interest rate of 1.5%” “Iraq borrow from the International Monetary Fund makes Iraq abide by international standards and conditions, namely that Iraq abide by mandatory.” mandatory requirements that Iraq MUST abide by, period! The IMF HAS set conditions to this bailout.
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The credit ratings agency: Iraq is agreement with the IMF for a positive credit rating
Economy News / Baghdad agency said credit ratings, “Moody’s”, said the agreement concluded by Iraq and the International Monetary Fund last week, regarding loan demand worth 5.4 billion dollars, a positive credit rating and will improve the liquidity of the government strapped to it.
Moody’s said in a statement, “The agreement will help Iraq to finance the budget deficit and the current account deficit.”
The agreement allows reached last Thursday of additional international aid worth $ 15 billion over the next three years to support an economy hit by the drop in oil prices since mid-2014 and the costly war against al Daash. AJ
Read More: http://dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article quote: “The Prime Minister reiterated the financial adviser appearance of Mohammed Saleh, said on Sunday that Iraq is suffering from an estimated $ 50 billion financing gap.” [Why these guys created a budget that was going to have $50 billion dollar hole in it is beyond me. Here’s hoping the IMF can get in there and make a difference.] Well…I think its a catch 22. If the budget is to small, they cannot pay salaries and that would be an obvious red flag. If the budget covers salaries, they buy time (3-9 months) to come up with financial solutions to the deficit. Neither good, but at least it gives them a window of opportunity to advance the economy if the conditions change.
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Breitling (Dinar Guru) – I have not seen one negative move from Iraq that has to do with our investment…speculating on this currency…I want to be very clear about when it comes to Maliki…this is going to hurt some people…if you’ve been talking garbage about Maliki…you’re wrong…Every law Maliki passed had to do with western standards and westernization of developing their country…I’ve never seen any country hit every mark that they need to be doing to absorb the west and the capital that’s coming from the west to be able to hit that restart button. And what’s going to be a part of that? The value of the currency that you and I are involved with. That’s what Maliki did. But he is not part of the process like he used to be. How many laws were passed under him that were pro business pro west? It’s simple math.
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Thousands of Peshmerga move on ISIS in major offensive
The 4 a.m. offensive began with Kurdish forces divided on eastern and western fronts and advancing toward a clutch of abandoned villages belonging to the Kakei and Shabak Kurdish minorities.
The villages are abandoned: residents fled to the Kurdistan Region when ISIS attacked two years ago.
Before the first light of dawn, the Peshmerga began the multi-pronged attack on villages that are few and far between, their advance slowed by roadside bombs and explosives planted by the militants…
Read More: http://dinarupdates.com/blog/
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wmawhite (Dinar Guru) – IMO…as the IMF, MoF and CBI agreed to…”to move away from the MCPs” [Multi Currency Practice] …the only way for that to happen is to reduce the auction to an absolute minimum…and…in order to reduce the flow of USD into the local market is to instruct the Iraqi banks to start paying/settling the foreign remittances in IQD. …I read on the IMF site and the exchange of foreign currencies are to reside within the local banks…not at the CBI as the auctions are currently…think about it…we know as fact, that back in December 2015…the IMF, CBI and Mof agreed to move away from the MCPs…which are a result of the auctions. We see more effort to clean up the corruption at a lot of these banks. And why? why now? Because…IMO…the bulk of the foreign exchange activities will reside in the local banks…not at the CBI…in the near future. IMO…there will always be a need for some form of the auctions…however, they will be greatly reduced…BUT, can not reduce them until the CBI gives the green light to the banks to start paying those foreign bills (foreign remittances) in IQD.
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Poppy3 (Dinar Guru) – ABADI ANNOUNCED OVER A YEAR AGO SEVERAL TIMES SECURITY WOULD NOT INTERFERE WITH THE FINANCIAL REFORM AND HE HAS HONORED THOSE WORDS AS REFORM HAS CONTINUED IN SPITE OF SECURITY, POLITICS ETC ETC.
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Iraqi Dinar/Dollar auction (most recent listing) 05-29-16
Currency Auctions Announcement No. 3208
This daily currency auction was held in the Central Bank of Iraq on the 05-29-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 131,736,126 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 131,736,126 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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rcookie (Dinar Guru) – Article: “The central bank stopped 300 companies transform financial and banking deal” US COMMISSION & PANEL OF FINANCIAL INTELLIGENCE ARRIVE IN BAGHDAD AND SET UP SHOP IN US EMBASSY FOR PURPOSE OF COORDINATION WITH CBI…HAVE STOPPED 300 FINANCIAL & BANKING TRANSFER COMPANIES UNDER REVIEW FROM CBI THROUGH WEEKLY REPORTS UNDER SUSPICION OF SMUGGLING & MONEY LAUNDERING…AND FRAUD…ON WEDNESDAY ALAK INFORMED BANKING & FINANCIAL SECTOR THAT CBI POLICY HAS CHANGED AND NOW WORKING WITH 10 BANKS ONLY IN IRAQI MARKET AND ADOPTING CLASSIFICATION DEGREES OF THEM BY CBI…AUCTIONS BEING HANDLED BY 10 BANKS ONLY… WOW! THAT IS INSANE… IT IS OBVIOUS THAT ALAK HAS NO CHOICE…THE QUESTION IS…TIMING…WHY NOW.
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Chattels (Dinar Guru) – All eyes on Fallujah is likely a healthy distraction from the political crisis in the government. The religious leaders are emphasizing the battle for Fallujah in sermons…in Iraq…All of which gives Abadi and Co. needed breathing room and a “boost” in their public persona at least in the eyes of the populace.
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Global agency: Iraq ‘s agreement with the IMF for a positive credit rating
Economy News / Follow-up …. Announced the agency “Moody’s” credit rating, on Monday, said the agreement concluded by Iraq and the International Monetary Fund for a loan under the positive demand for credit rating and will improve the liquidity of the government strapped to it.
The agency said the credit ratings in a statement that “the agreement will help Iraq to finance the budget deficit and the current account deficit.”
Iraq announces receiving a loan from the IMF $ 13 billion
IMF: Iraq may receive a loan under the demand for three years
And got Iraq, (May 17, 2016), on loan from the IMF worth $ 13 billion with interest estimated at 1.5 percent.
Read More: http://dinarupdates.com/blog/
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Backdoc (Dinar Guru) – WITH THE CBI PUTTING A STOP TO THE CORRUPTION ALL THE INTERNAL REASONS FOR A WEAK DINAR HAVE JUST EVAPORATED!
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Poppy3 (Dinar Guru) – I STILL THINK ANYTIME DURING JUNE…PREPARATION HAS ALL BEEN SO THEY CAN MEET THE DEADLINE ISSUED BY THE WORLD BANK AND IMF. JUNE IS HERE NEXT WEEK GET READY…MOST OF US THAT HAVE STUDIED AND WATCHED THEM FOR 12 AND MORE YEARS KNOW THEY SAID BEFORE THAT DATE. THATS WHY I EXPECT IT ANYTIME DURING THE MONTH.
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Moody’s: financial liquidity Iraq will improve after the IMF loan
Follow-up scales News – She said the agency credit ratings, “Moody’s”, said the agreement concluded by Iraq and the International Monetary Fund, last week, regarding loan demand worth 5.4 billion dollars, a positive credit rating and will improve the liquidity of the government strapped to it.
Moody’s said in a statement that I followed / balances News /, “The agreement will help Iraq to finance the budget deficit and the current account deficit.”…
Read More: http://dinarupdates.com/blog/
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Backdoc (Dinar Guru) – NOW, SINCE THE REST OF THE GCR SEEMS TO BE ON CRUISE CONTROL FOR MID YEAR, I WOULD THINK SINCE ITS ALL ABOUT IRAQ, AND IT’S NOT ABOUT IRAQ THEY BETTER SEND IN THEIR BEST WIDE RECEIVER TO CATCH THE BALL IN THE END ZONE FOR THE TOUCH DOWN! MR. KEYWORD (DR. S.) MIGHT HAVE SENT IN A PLAY BECAUSE WE HAVE ACTION FOLKS! WITH THE KURDS BEING SENT IN FOR THE PLAY ON THIS PARTICULAR WEEKEND…COME ON KEYWORD, CALL A POST ROUTE INTO THE MOSUL END ZONE AND MAYBE IT WILL BE CAUGHT! GIVE ME A “H”, GIVE ME A “C”, GIVE ME A “L”…WHAT’S IT SPELL? THE NEW GLOBAL RESERVE CURRENCY (SDR). [post 2 of 2]
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Backdoc (Dinar Guru) – FRANKIE [Guru FRANK26] AND HIS TEAMS ARE WATCHING FOR FLAGS TO BE RAISED IN MOSUL FOR SURE. HERE WE ARE ON A LONG HOLIDAY WEEKEND IN THE STATES AND WE SEE ACTION! “ACTIONS MEAN THINGS”. MY TAKE ON MOSUL IS A POLITICAL DRAMA BETWEEN THE SUNNI / SHITE/ KURD TRIBES AND WHO WILL BE RESPONSIBLE FOR SECURITY UNDER THE NATIONAL GUARD LAW! OF COURSE IT ALSO TIES IN WITH HCL BECAUSE OF FUNDING FOR THOSE FORCES AS WELL! [post 1 of 2….stay tuned]
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wmawhite (Dinar Guru) – [“anywhere in the World” wouldn’t the rate have to be international?] 1182 is international…except the CBI says no, no, no…we are not ready to…have our banks settle foreign remittances at that rate. In other words…there are banks outside of Iraq that buy and sell the IQD…what banks do not do yet…is exchange their currency with the IQD because the CBI has not taken that step yet. We wait for the decision by the CBI to inform the banks of Iraq to settle foreign remittances in the IQD. We can also believe that when that time comes, the CBI [will] inform the other central banks around the globe what the exchange rate will be with their currencies. [post 2 of 2]
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wmawhite (Dinar Guru) – Folks…this is GREAT! “Official: Iraq seeks to open up banking cooperation at the Arab and international levels” this says it all! “general manager of the Rafidain Bank spokesman Kamal al-Hassani said: keep pace with the achievements reached by the developed world in the banking systems, he has been putting the finishing touches to complete the project activate MasterCard service, in coordination with the company’s global card…” We are at that point in time that we are looking when an Iraqi can use his/her credit card drawn on his/her bank in Iraq and buy that food at some store anywhere in the world. [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing) 05-26-16
Currency Auctions Announcement No. 3207
This daily currency auction was held in the Central Bank of Iraq on the 05-26-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 121,342,437 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 121,342,437 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – …G7 MEETING IN JAPAN REVEALS 6.3 BILLION DOLLAR AID PACKAGE FOR IRAQ…TO DEAL WITH FINANCIAL CHALLENGES & STRENGTHEN THE ECONOMY THROUGH REFORMS IN COORDINATION WITH INTERNATIONAL INSTITUTIONS INCLUDING THE IMF…500 MILLION EUROS FROM GERMANY ALONE…IMPOSE STABILITY IN IRAQ AND SUPPORT PM ABADI EFFORTS…GLOBAL SUPPORT…
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Poppy3 (Dinar Guru) – FOR ME SEEING ALL THE BILLIONS IN LOANS AND HELP FROM SO MANY OTHER COUNTRIES FURTHER CONFIRMS THEY MUST RAISE THE RATE OF THEIR CURRENCY TO EVER EVEN SCRATCH THE SERVICE OF PAYING ANYONE BACK. JUNE FOR SURE LOOKING GREAT.
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Federal Court rules in favor of al-Jubouri
Roudao – Erbil – The Federal Court dismissed on Wednesday a lawsuit Representatives of the protesters on the legality of the Iraqi Parliament Speaker Salim al-Jubouri.
Read More: http://www.dinarupdates.com/showthread.php?34997-Federal-Court-rules-in-favor-of-al-Jubouri-5-25
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Bondlady (Dinar Guru) – Iraq is a very rich country because of whats untapped and under the ground, if its not being produced or exported sold or used, then its not helping them much. Their about to get a heck of a lot of that security under control…soon and the world sees this too and if their willing to take a risk and many many big businesses are and do and will ..take the risk…a leap of faith…they will make tons of money off Iraq an investing in future projects.
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rcookie (Dinar Guru) – THE IMF STATEMENT ABOUT IRAQS SMP PERFORMANCE… SUBSEQUENT SBA LOAN ACQUISITIONS…LEADING TO ADDITIONAL INTERNATIONAL ECONOMIC SUPPORT THAT WOULD POSITIVELY IMPACT THEIR INTERNATIONAL CREDIT RATING…HAS MATERALIZED TODAY…
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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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mike (Dinar Guru) – The IMF is willing to help Iraq out with a loan, with the caveat that Iraq allows oversight for the Finance and Integrity committee’s. To get this money, Parliament has to agree to the terms and then the loan can begin. Well, the last thing the corrupt want is oversight by a international team with no strings to the crooks and who can’t be bought off. So, they keep Parliament in flux and the SBA dies on the vine. Stalemate. I have a nagging feeling that those with ties to Iran are opposed to seeing Iraq move the ball forward. At every turn these guys find a way to prevent change and organize Parliament. A dysfunctional Parliament effectively halts all the needed legislation for progress and serves those opposed to change. The ugly truth is either the money’s going to run out or the patience of the citizens will run out, either way, they’re going to kill the Golden Goose without change.
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Kaperoni(Dinar Guru) – Article: “The central bank stopped 300 companies transform financial and banking deal” Quote: “…announced the arrival of the Commission of a competent US combat financial intelligence department staff to Baghdad and set up at the US Embassy for the purpose of expansion for the purpose of coordination with the Central Bank of Iraq.” This seems like a real “make or break” step for Iraq. Succeed, and the financial system moves forward. Fail and they are status quo trying to save what’s left of the reserves in a few months along with the dinar exchange rate. My bet is on this team and the IMF. The situation/cycle they just bailed themselves (bought a few months) will just repeat itself when they have to pay salaries, contractors etc. in a few months. IMO, now that these recent agreements (loans, SBA etc.) are signed, it is time to push forward. We can hope anyway.
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