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 | 1318.403 | 1317.744 |
| British pound | GBP | 1727.848 | 1726.984 |
| Canadian dollar | CAD | 902.290 | 901.839 |
| Swiss franc | CHF | 1193.698 | 1193.101 |
| Swedish krona | SEK | 141.847 | 141.776 |
| Norwegian krone | NOK | 141.460 | 141.390 |
| Danish krone | DKK | 177.262 | 177.173 |
| Japanese yen | JPY | 10.640 | 10.635 |
| Special Drawing Rights |
SDR | 1658.204 | 1657.375 |
Indicative rates – 06.03.2015
http://www.cbi.iq/
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When you want to help people, you tell them the truth. When you want to help yourself, you tell them what they want to hear. – Thomas Sowell
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*** Current News ***
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Iraq PM Abadi urges lawmakers to stop squabbling, rally behind army
Iraq’s Prime Minister Haider al-Abadi (front 2nd L) walks during his visit to an Iraqi army base in Camp Tariq near Falluja, Iraq, June 1, 2016. REUTERS/ALAA AL-MARJANI
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Iraqi Prime Minister Haider al-Abadi has appealed to politicians to “freeze” their wrangling over his anti-corruption reforms and unite behind the army as it battles Islamic State in Falluja, near Baghdad.
Abadi has been grappling with a political crisis since February and has been unable to rally the main blocs in parliament to back an anti-corruption plan that includes a cabinet reshuffle.
He ordered the offensive on Falluja on May 22, after the political crisis degenerated into deadly street violence in and near to Baghdad’s heavily fortified Green Zone, and a series of bombings, claimed by Islamic State, hit Shi’ite districts of the city.
“I appeal (to the politicians) to freeze all differences until the land is freed,” he said on state TV late on Wednesday during a visit to the army’s front line near Falluja, 50 kilometers (32 miles) west of Baghdad.
“Daesh is the ultimate corruption and whoever prevents us from fighting Daesh is corrupt,” he added, referring to the ultra-hardline Sunni group by one of its Arabic acronyms…
Read More: Dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article quote: “US Ambassador to Iraq Stuart Jones confirmed that the Iraqi development reform program will enable the government to better manage its budget, and treatment was delayed four thousand project.” US AMBASSADOR TO IRAQ STUART JONES ASSERTS IRAQI DEVELOPMENT REFORM PROGRAM WILL ENABLE GOV’T TO BETTER MANAGE BUDGET THAT HAS DELAYED 4,000 PROJECTS BY IMPROVING PROCUREMENTS BY SYSTEM STANDARDIZATION OF PROPOSALS CONTRACT WITH REPUTABLE CONTRACTORS ELIMINATE DELAYS, WASTE & CORRUPTION…
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Aggiedad77 (Dinar Guru) – Article: “Washington: Development Management Developer Program will ensure transparent management of funds in Iraq” it’s been one of those long but very exciting days… Remember…they need this in place according to [Guru] DELTA to push the financial reform forward…sounds like it is necessary for the MR as well…So this has been “kicked off” today…One question tho…$400 billion budget…where is this coming from…thought this year’s budget was like 97 trillion dinars…but I could be dreaming I guess.
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Delta (Dinar Guru) – Third point….it is about the CBI…my TEAM has been digging into and watching the CBI really closely for a very long time…there is a spreadsheet that the CBI has they have been doing for years and in this is a calculated ratio that they provide…they come up with this ratio to determine the value of the currency…by dividing the foreign exchange assets divided by the money supply…this ratio reflects very close to the exchange rate…and for the last six or eight months the ratio has been showing like 0.85 or 0.86 cents which is close to the value of the USD…But it looks like we have the magic number in that spreadsheet…when you put all the numbers into the ratio it appears the ratio is basically saying 1 to 1…the magic number is there… I would like to add that even though it is showing 1 to 1…I believe it will come out even higher…because remember they have to add inflation into it…so we could see “out the door” more than one dollar…maybe 1.15 or 1.20…even up to 1.42 is possible…IMO I think we will see 1.13-1.20 after inflation is added to it…there are so many indicators that we are so very close… [post 3 of 3]
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Iraqi Dinar/Dollar auction (most recent listing) 06-02-16
Currency Auctions Announcement No. 3212
This daily currency auction was held in the Central Bank of Iraq on the 06-02-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 133,466,204 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 133,466,204 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Delta (Dinar Guru) – …we all know of the deal between Iraq and the IMF…there was information on Iraqia TV and another article today…from the Financial Advisor to Abadi…One thing he stressed is that the IMF Board has to give the final go ahead for Iraq to get their funds…so he said that for Iraq to get this loan they have until June 15th to submit a letter from Iraqi authorities to the IMF board that they do agree to all the IMF conditions and the framework of the loan…and the most important condition to us concerns the financial reform…they talked of two things…one was about taxes…and the other…they HAVE to lift the 000’s and basically do the currency reform…so this seems to give us a very small window…they have less than two weeks to accomplish everything and send the letter to the IMF…so this letter being submitted will be exactly the same as Iraq accepting Article 8…so by the end of the month of Junethen…the IMF board will look at all of what Iraq has said they have done…and one is the currency reform and the establishment of the true value of the Iraqi dinar…Again…now these two things seem to point to the idea that we are very close. [post 2 of 3….stay tuned]
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Delta (Dinar Guru) – I know we are getting very close to a lot of things going on…Number 1 is an announcement from the Minister of Planning…this coming Thursday they are going to launch something…very important…and very significant for our investment…they call it the Development Management System…we know the CBI with help from the GOI…they decided to be a cashless society in the long run…their goal is to move the whole country in this direction of e–government or electronic…the launching of this project will be this coming Thursday and it looks like PM Abadi will be present to launch to this…without this Management System the financial reform cannot proceed…they have to have this system in place to do the currency reform and the financial reform…So this coming Thursday they will celebrate the launching of this system…so indications are we are getting really close…but we don’t know exactly a date… Second point… [post 1 of 3….stay tuned]
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Shredd (Dinar Guru) – the fact of the matter is the rate fluctuations [Guru] Bondlady has noticed is worth watching. The central bank must maintain stability which is what we are seeing, without question when the dinar is on a globally-recognized, market-driven floating rate regime, we will see it adjust and at that time, supply & demand, interest rates, inflation, and GDP will affect it… I would expect the rate to grow in strength rapidly if for supply alone, also, in my speculation…
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The return of 40 deputies Matsma to “front” Jubouri!!
Baghdad / Iraq News Network revealed the National Alliance MP Sadiq frankincense, Wednesday, for the withdrawal of 40 deputies from the front of the protesters (Reform), and return to Alnwab.oukal frankincense Council meetings in a press statement today:
“Some MPs from the point of the protesters realized that their sit -in is the glory does not constitute a positive impact , “noting that” some of them felt refer to the Council of Representatives . “He added that” Iraq is passing through a dangerous phase and there is a big security and economic challenges , “he said , adding that” the number of pupils who are deputies arrived to 40 deputies…
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Adam Montana (Dinar Guru) – Article: “The House voted, Sunday, to extend the legislative term of the parliament for a month extra.” […What is your feeling on this, and are they trying to get something done before the end of June?] This doesn’t mean they are “working” for another month, it just means they gave themselves a month extension to carry through Ramadan. I think…that although nothing significant gets passed during the holiday, this does not mean they won’t be working on things to have an “End-of-Ramadan” celebration.
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Frank26 (Dinar Guru) – …the MCP [Multi-Currency Policy] is extremely important …now the USD is suffocating us to death…we flooded your markets…we forced you to use it…but now we are taking it away because the Multi-Currency Policy in your country must end…it means they can only use their currency…Abadi and the GOI/CBI and all of you new guys…shut down over 300 places where they were exchanging money…some of those were banks and outlets…this was another source of thievery…but it is gone…the corruption is being straightened out…Something is going on…because these 300 they can’t even do business any more…nor can the citizens get what they were getting from them any more...our auctions are going to be coming less and less…in fact our goal is to take our auctions to zero…you have to raise the value of your currency
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rcookie (Dinar Guru) – HERE IS A RECAP OF NEWS….PARL LEGAL COMMITTEE STATES RULES OF PROCEDURE ALLOW FOR 3 PRESIDENCIES TO CALL EMERGENCY SESSIONS DURING HOLIDAY…KURD ALLIANCE STATES ABADI READY TO RECEIVE DELEGATIONS FROM PROVINCIAL GOV’T TO RESOLVE OUTSTANDING PROBLEMS…PARL FINANCE STATES IMF LOANS WILL REVIVE THE IRAQI ECONOMY… NATIONAL ALLIANCE …EXPRESSED GREAT DESIRE TO RETURN TO NEXT PARL SESSION AND CONTINUE REFORM ACTIVITIES…ANBAR SECURITY ISSUES STATEMENT THAT IRAQI NATIONAL FLAG WILL BE RAISED IN CENTER FALLUJAH WITH IN NEXT FEW DAYS…
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Iraqi Dinar/Dollar auction (most recent listing) 06-01-16
Currency Auctions Announcement No. 3211
This daily currency auction was held in the Central Bank of Iraq on the 06-01-2016
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$) | 130,019,655 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 130,019,655 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – One more note regarding the timing… remember when I said that the HCL could be tied very tight to the price of oil? We are definitely going in the right direction, just like I thought we would be: Article: “Iraq expects oil prices to $ 65 in the coming months” Yep! That’s right… $65, in the coming months, which is exactly my expected price AND time frame. Ramadan ends on July 5. [post 2 of 2]
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Adam Montana (Dinar Guru) – …we’re looking at something big again. The re-shuffling of Parliament is all but done. It’s been a little quiet on that front for a week or so, and that’s a GOOD thing! It means they are now in a position to move forward, and from what I’m hearing (…from MY sources)…is that HCL should be on the table REAL soon. It was my hope that we’d see it before Ramadan, but let’s be 100% realistic – Ramadan starts in a couple days, and NOTHING SIGNIFICANT GETS DONE DURING RAMADAN. However, that’s not to say that they won’t be setting things up during Ramadan. [post 1 of 2….stay tuned]
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tlm724 (Dinar Guru) – Article quote: “…in the next future We hope that this raises important issues of laws like { the law of parties, oil and gas}…” ...they have 30 days to work their differences on the HCL.
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Urgent Cabinet approves the Supreme Judicial Council Act
{Baghdad: Euphrates News} cabinet today approved the draft of the Supreme Judicial Council Act, which Dqgah the State Consultative Council.
A source in the council told {Euphrates News} “The Council approved the referred the bill to the House of Representatives based on the provisions of Articles {61 / I and item 80 / item II} of the Constitution, taking into consideration ray General Secretariat of the Council of Ministers ..itba ..
Read More: http://www.dinarupdates.com/showthread.php?35243-Urgent-Cabinet-approves-the-Supreme-Judicial-Council-Act
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Frank26 (Dinar Guru) – [Abadi in Fallujah n flag is planted…Hopefully Mosul before Ramadan n we are home sweet home.] We knew it was coming…”GIVE ME MOSUL…WARP SPEED ALL REFORMS.”
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firefly (Dinar Guru) – The world does not stop because of Ramadan…they have worked through every Ramadan for years.
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BGG (Dinar Guru) – Article: “Urgent Cabinet approves the Supreme Judicial Council Act” Quote: “…cabinet today approved the draft of the Supreme Judicial Council Act, which Dqgah the State Consultative Council.” This bit is interesting (I’m not convinced it is the “official” Fed Court law…HOWEVER, the fact they are progressing on this front is just more and more…evidence things are moving in the right direction (finally)...I ran across this commentary…an Iraqi writer talked about the 4 pieces of legislation that would move Iraq forward. (NONE OF THIS PRESUMES TO – IN ANY WAY “PREVENT” an RV)…it is just observation by an Iraqi as to what would help move things forward. 1) Amnesty Law 2) HCL (how they divide the oil revenues). 3) Fed Court Act 4) Civil Service Act. and BTW – none of the above happen without an effective and FUNCTIONING CoM (Council of Ministers) which is what Abadi is fighting tooth and nail for – and the Dawa Party / SLC / Maliki thugs are fighting AGAINST.
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War: The pleading of the Federal Court on 29/5 made a judgment soon
Follow-up / Iraq today – Confirmed the legal expert Tareq Harb said the hearing conducted by the Federal Supreme Court on 05.29.2016 was almost close to resolving the case and semi-close in favor of one of the parties to the proceedings at the appeal hearings of Parliament for the month of April 2016,
particularly after the agents parliament speaker presented photographs and CDs, documents and films attendees and non-attendees at those meetings are the subject of disagreement and the matter of the proceeding,
Which supports the point of view of the party and in exchange for that, the agents of the other party any front reformist and sitters to hasten to refute the conclusions reached and the agents of the other party so that said Mlhozathm these documents and share some MPs from the Reform attending mass, said the war
“where asked permission of Representatives of the Court to talk, and after the court authorized them spoke MP architecture Ihsanoglu one Governing Council of Representatives on the list that includes the signatures of Representatives, which exceeds the quorum here responded agents other party that signed something and the audience is something else…
Read More: http://www.dinarupdates.com/showthread.php?35235-War-The-pleading-of-the-Federal-Court-on-29-5-made-a-judgment-soon&p=153389#post153389
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Kaperoni (Dinar Guru) – Article: “Release of funds for the displaced through smart cards next week” Quote: “the Ministry of Finance promised to secure finance financial grant for the disbursement of the next week and distributed to displaced families exporting them to the smart card” […they don’t even have consistent electricity in many parts of Iraq, so it seems as though use of the cards would be problematic.] Though electricity remains an issues in many parts of Iraq, merchant card readers are rechargeable/battery operated.
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BGG (Dinar Guru) – [What do you feel is the key or keys remaining?] that is a good question – however, with the timing of the recent support, IMF/WB oversite…their insistence on some level of control…and the aggressive movement against ISIS from every direction…things are absolutely moving in a very good direction for Iraq…and as a side note…Abadi has the support of the Kurds, Sadr, the US and the IMF/WB (aka – BIG MONEY)…that is a pretty powerful (and unlikely) alliance he has cobbled together. …they button some of this stuff up – POST HASTE and we will see a giant leap forward in Iraq’s financial system…it’s all pointing that direction…
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Iraqi Dinar/Dollar auction (most recent listing) 05-31-16
Currency Auctions Announcement No. 3210
This daily currency auction was held in the Central Bank of Iraq on the 05-31-2016
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$) | 134,305,728 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 134,305,728 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – THEY HAVE BEEN WORKING WITH WORLD BANK SINCE 2008 TO RESTRUCTURE & PRIVATIZE THE SOB’S…AND THE BANKING REFORM IN LAST YEAR HAS BEEN AT BEYOND WARP SPEED… THE US PANEL IS IN BAGHDAD SETTING UP SHOP AT US EMBASSY TO OVERSEE CBI IMPLEMENTATION OF AUCTIONS GOING FORWARD…IT IS COMMON KNOWLEDGE AS TO WHY IT HAS FAILED AND IRAQ HAS HAD ADEQUATE TIME TO REMEDY///THE US IS TAKING OVER… I AM NOT CONCERNED WHATSOEVER AS THE NEWS REFLECTS INCENTIVES AND PATH FOR IRAQ TO ACHIEVE ECONOMIC & FINANCIAL REFORM…
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BGG (Dinar Guru) – Article: “Kurdish blocs announced their support for his reformist Ebadi“ So the Kurds are announcing (telegraphing) relatively broad-based support for Abadi’s reform project...This is interesting in light of the fairly severe splitting of the National Alliance and crumbling of Maliki’s support base…and the mostly ineffective political attacks his crooked bunch carried out in Parliament lately…they are doing everything they can to slow walk things…surprise surprise. Sadr is backing Abadi… (that’s about 4 Million protestors over the last several weeks)…it’s like having 2nd Amendment protection – but made up of human bodies. The Kurds are backing Abadi – (as per today’s PR releases)… This is all very good news.
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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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Kaperoni (Dinar Guru) – So now Iraq is in a quagmire. They are being forced to make changes with monetary policy…changes that will benefit us as investors. The plan calls for ending the auctions (they must have an alternative if they do that such as float), getting off the peg, moving from Article XIV under the IMF to VIII when the conditions allow it. But they key for any of this to succeed is the Iraqi politicians to create the right economic atmosphere so the plan will succeed…which seems to be the biggest question…if they can. [post 2 of 2]
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Kaperoni (Dinar Guru) – Iraq dropped the ball big time. They had a window of time from about 2010-2013 in which under Article XIV, they were meeting the guidelines the IMF requested and at the same time, profits were high due to high oil prices, etc. Unfortunately, Iraq chose to steal as much money as they could during that time, than do what was right. Now, the conditions have changed, oil prices are 50% or more less than that period, revenue is less, Iraq cannot meet its payroll, or other investment obligations…as a result everyone is complaining that the auctions, the peg, etc. no longer works…which is true,,especially if they ever wanted to get the dinar out convertible/tradable on a global scale. [post 1 of 2….stay tuned]
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