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 |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1316.157 | 1315.499 |
| British pound | GBP | 1570.642 | 1569.856 |
| Canadian dollar | CAD | —– | —– |
| Swiss franc | CHF | 1213.179 | 1212.572 |
| Swedish krona | SEK | 139.541 | 139.472 |
| Norwegian krone | NOK | 141.560 | 141.489 |
| Danish krone | DKK | 176.951 | 176.863 |
| Japanese yen | JPY | 11.487 | 11.481 |
| Special Drawing Rights |
SDR | 1650.025 | 1649.200 |
Indicative rates – 07.09.2015
http://www.cbi.iq/
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To know what people really think, pay regard to what they do, rather than what they say. – René Descartes
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*** Current News ***
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Frank26 (Dinar Guru) – [Do you believe there will be a time limit that we will be able to keep our Dinar after the RV?] IMO … No… Because more important investors than YOU … Would not be pleased.
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BGG (Dinar Guru) – we are on the “upswing” as far as investments go…this LOI to the IMF and IMF oversight is BIG NEWS… and explains a lot regarding the clean-up and direction in Iraq right now…had the previous Shia bunch had their way – this may have NEVER HAPPENED… as of now – things are moving along AT SPEED!! Personally – (and this is my take)…the first half of the year – is some kind of “manufactured” DEAD-LINE…in reality – they are “in the process” of re-engaging with the world markets and economies now…on schedule – under the advisement and oversight of the IMF…and this – is BIG NEWS. Did they say R.V. by such and such date?? NO – but they did say they would start this process and they have…it is very – very – VERY good for us, as investors. I am excited – and I sat in on one of the first board meetings about Dinar there ever was.
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rcookie (Dinar Guru) – THE 12TH IS A DATE BEING REPORTED AS THE RETURN OF REGULAR PARLIAMENT SESSIONS IN THIS LEGISLATIVE TERM…FINANCIAL & ECONOMIC LAWS…ARE CUED UP AND AWAITING VOTE…THESE HAVE ALL BEEN GIVEN PRIORITY STATUS FOR ADDRESSMENT UPON PARLIAMENTS RETURN…AS WELL AS SOME OF THE NATIONAL RECONCILIATION AND UNITY LAWS… AMNESTY/ACCOUNTABILITY & JUSTICE/ FED COURT…
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Kaperoni (Dinar Guru) – Article: “IMF Executive Board Approves US$5.34 billion Stand-By Arrangement for Iraq” Quote “Additionally, measures will need to be implemented to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation to help improve the integration of Iraq’s financial system into the global economy.” Well, they have work to do… It is also very clear that the CBI still has exchange restrictions (which is causing the difference between the Offical rate and Market rate to be greater than 2%) hence the reason they are maintaining the peg and still in Article XIV.
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rcookie (Dinar Guru) – THEY HAVE BEEN UNDER THE EXISTING SMP SINCE JAN 2015 AND IT RUNS THROUGH DEC 2016…AND THE PERFORMANCE OF IRAQ INSTILLED CONFIDENCE WITH IMF TO EXTEND SBA ACCESS EARLY...IT DEMONSTRATES IRAQS EXEMPLARY PERFORMANCE WITH IMF AND WB FINANCIAL & ECONOMIC TECHNICAL ASSISTANCE INITIATIVES…AND FISCAL DISCIPLINE… …FOCUSING ON DATES AND FALSE INSINUATIONS…ARENT NECESSARY WHEN THE FACTS ARE SO JUICY!!!
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rcookie (Dinar Guru) – TO ALLOW FOR PERSPECTIVE AND PROGRESS YOU HAVE TO LOOK AT THE LOI’S THROUGH THE YEARS AND LOOK AT THE INITIATIVES…THE REVIEW WINDOWS AND CYCLES TO SEE THE SCOPE OF THE PROGRAMS AND TECHNICAL ASSISTANCE FROM IMF AND WB…AND HOW THEY HAVE SHAPED EVERY SINGLE COMPONENT OF THEIR 5 YEAR STRATEGIC PLAN THAT IS PUBLISHED ON THE CBI WEBSITE…AND DOMINATES EVERY POLICY AND ACTION THEY UNDERTAKE…THESE INITIATIVES AND ACTIONS ARENT THINGS THAT JUST CAME TO THEM…THEY HAVE BEEN RESTRUCTURING THE SOB’S WITH WORLD BANK ASSISTANCE SINCE 2006…THATS 10 YEARS...SO WHEN WE READ A COUPLE OF MONTHS AGO THEY WERE 97% COMPLETE…THAT IS 10 YEARS IN THE MAKING…
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Kaperoni (Dinar Guru) – Article: “Iraq new 500-dinar note with Kurdish reported” People are making a mountain out of a mole hill here. This is not the sign of anything to come, it is not an indication of a change in value or issuance of all new notes, etc. It is what it is, simply a reprint of an exiting note (adding a few changes). This happens daily with any currency. And it just so happens in this case, it happened after the law for Kurdish language passed and Allaq is the governor. So, as required, the put the language on and added Allaq’s signature. This also happened when Turki was running the CBI and the revised notes got the brail added…Turki put his signature on the notes. This really is an non event. Iraq is making progress and the IMF is guiding this now. We should be encouraged.
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Mountainman (Dinar Guru) – Article quotes: “The International Monetary Fund’s (IMF) executive board has approved a $5.34 billion program for Iraq to help strengthen the country’s finances. The IMF said in a statement on July 7 that the three-year loan will see $634 million immediately allocated to Baghdad.” Which MEANS This is The Announcement of Their Value being Lifted… Otherwise The IMF would NOT give the LOAN…ARTICLE 8 on the (8)th…This is as LOUD as the IMF will Be On A NEW IRAQ REALITY…IMO.
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tlm724 (Dinar Guru) – Article quote: “the Iraqi air force planes dropped millions of leaflets over the city of Mosul…” *mission* getting the word out of their victory and their on coming battle at Mosul.
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firefly (Dinar Guru) – [...the 500s came out, I was wondering if any others like 100s had come out?] Only the 500s so far. IMO the remaining notes will appear very shortly
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Backdoc (Dinar Guru) – JULY 1ST WE SAW OIL PRICES RIGHT IN THE WINDOW OF EXPECTATION OF $45.00 TO $50.00 FOR IRAQS BUDGET! GREAT! THIS MIGHT HAVE BEEN THE BEST TIME TO START THE PROCESS OF RELEASE AS WE HAVE SEEN ARTICLES IN IRAQ STATING THAT VERY THING! THEY APPEAR TO HAVE STARTED IMPLEMENTATION! IF OUR STUDY PLAYS OUT THE DOLLAR WILL START ON THE MOVE UPWARD AGAIN ALLOWING A GREAT OPPORTUNITY FOR FURTHER DE-DOLLARIZATION FOR IRAQ, VIETNAM, AND OTHER EMERGING COUNTRIES TO DUMP THEIR OVERVALUED DOLLARS AS THE IMF HAS RECENTLY STATED!
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rcookie (Dinar Guru) – [Are we still looking at the 12th for parliment to meet?] YES…BY ALL REPORTS…AND THEY HAVE A BASKET OF LAWS CUED UP AND AWAITING THEIR RETURN.
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wmawhite (Dinar Guru) – Iraq is in the economy markets…The IMF told you and me and the entire world that the G7 nations are now approaching Iraq to enter into financial agreements…the effect of being the global market will, IMO, cause the CBI to show the true value of the IQD.
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wmawhite (Dinar Guru) – Article: “Iraq new 500-dinar note with Kurdish confirmed” After reading this article/announcement…I asked why would the CBI spend $millions on a note that has a current equivalent value of $0.43. Currently, this note has no place within the market place, similar to the former 50 IQD note. Yet, they spend millions to make the Kurds happy based upon promises made years ago. IMO, this is evidence that a shift in the value of the Iraqi Dinar is near because this note will be of no value in the marketplace unless the price of product is reduced dramatically. This will happen when the value of the IQD increases dramatically OUTSIDE of Iraq.
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firefly (Dinar Guru) – IMO we are no longer waiting on Iraq OR the IMF…Remember, the IMF CANNOT trigger it. There is only one agency that can trigger these events…Internationally… [the bis gives their ok to the IMF , the IMF can tell the CBI to go ahead.] Correct, it’s a 3 ring circus that has to follow the correct pattern (procedures). The CBI will show it after the fact.
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Frank26 (Dinar Guru) – IMO – this newly printed note is for the next 2-3 months to allow the RV to blossom. Paris Club…Kuwait…“postpone their payments”…for a reason. Article 8 will allow them to pay their own bills…How can you have all of these INTERNATIONAL payments at a program rate? All they need to do is raise their value…a rate that the INTERNATIONAL world will love.
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wmawhite (Dinar Guru) – […lots of good info and yet we are now into july still waiting for something that should have happened months ago if it weren’t for the GOI & CBI dragging their feet!] unless, you happen to know when the CBI is going to do this, then how can you state that they are dragging their feet. This, Iraq entering the economy markets, did happen as the IMF stated it would.
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Iraq and the International Monetary Fund
Hussein Ahmed Sarhan
Reading in the government’s commitments to the 2016 direction of the Fund under 22 / December / agreement in 2015
Because of the difficult economic conditions experienced by Iraq due to the escalation of the level of military spending after the control of the organization of what is known as (the Islamic state “Daash”) terrorist nearly one-third of the Iraqi state area since June 2014, and the drop in oil prices late the same year, which caused a shock of revenue for the state budget, which led to the promotion of the budget deficit.
For this purpose, the government began her meetings with international financial institutions, particularly the IMF and the World Bank for financial assistance as provided for in the general budget for the 2016 law, which requires him to issue a “letter of intent” and the memorandum of economic and financial policies…
Read More: www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – Ramadan officially ended yesterday…Today is Eid al-Fitr, the celebration of the end of Ramadan. I do not expect to see anything breaking today, but as of tomorrow (Thursday) the wheels will begin turning again. We have a lot to look forward to!
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mike (Dinar Guru) – Article: “Parliament: the signing of Iraq to loans require him to impose extra taxes on the citizens needed to be reviewed” [More pressure is what we need.] … here’s hoping Iraq feels the pressure and makes the necessary changes.
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rcookie (Dinar Guru) – Article: “Launch Central Bank loans to finance agricultural projects” Quote: “The Ministry of agriculture, said Wednesday, launching agricultural loans from the Central Bank by ACB bin by 33% and equivalent (1, 650) trillion dinars.” WE CALLED THIS…MONTHS AGO. WE SAID THAT ONCE FALLUJAH LIBERATION WAS COMPLETED…YOU WOULD BE ABLE TO USE STOPWATCH TO TIME HOW LONG IT WOULD TAKE TO ACTIVATE THE LARGE AGRICULTURAL AND INDUSTRIAL DEVELOPMENT LOAN PROJECTS…THATS OVER A BILLION DOLLARS IN LOANS…IT IS HUGE FOR IRAQ!
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Are consistent with the EFCC Act and Economic Reforms
With the rising importance of the transition to a market economy and reliance on the private sector as an essential factor for the advancement of Economics, headed the House of representatives to vote on amending the law of the Federation of Chambers of Commerce of Iraq during the current legislative term to its importance in achieving the objectives that correspond to government reforms…
Read More: www.dinarupdates.com/blog/
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firefly (Dinar Guru) – …appears the the new 500 dinar note count now has Kurdish language on it. The Kurds always insisted on it…looks like they got it. Quote: “For more than five years, the Central Bank of Iraq has planned to remove three zeroes from the banknotes and add Kurdish text. To date the efforts to redenominate the dinar have failed to come to fruition, but as this note demonstrates, the addition of Kurdish text is underway…” “…but as this note demonstrates, the addition of Kurdish text is underway…” If this doesn’t excite you or make you jump for joy you are literally pushing up daisies!
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tlm724 (Dinar Guru) – Article: “Sadoun: Parliament compensate the failure of the laws of more than two months” this is coming from Kurdistan Alliance MP Mohsen al-Sadoun. Quotes: ”…there are several laws of parliamentary committees and the board of the presidency will be a priority in the voting when the new legislative term begins…” “…the new legislative term will focus on the stalled legislation for a long time there were not the will exists among the parliamentary blocs of legislation from a legal most important {oil and gas and federal court} and waiting for decisiveness.” *hallelujah* oil and gas just get it done!
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firefly (Dinar Guru) – IMO …this investment is now ripe for the picking…And NO… I’m NOT calling anything or putting out any silly dates…But it sure looks sweet.
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SteveI (Dinar Guru) – …from a contact in Iraq at a base…it appears Mosul is doing very good and virtually done. Some ISIS still hanging around but no real treats he said.
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Iraqi Dinar/Dollar auction (most recent listing) 07-05-16
Currency Auctions Announcement No. 3235
This daily currency auction was held in the Central Bank of Iraq on the 07-05-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 30 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 138,409,694 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 138,409,694 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – ...they are closed for 3 days. They will be back on the 10th…Abadi said that as soon as “this time passes, we will do all of the reforms.” Raffidian & Rasheed banks said months ago that they were 98% ready to do loans for the citizens. They said they were going to bring the currency out at 1 to 1…and then float it. I said they could float it until it reached $4.25 and then they would cap it. At 1 to 1…a 500 IQD note would be more than suffice… this 500 note is a precursor to releasing the other LD’s. Everything must occur ALL AT ONCE! That’s why…many dominoes are being set up all at once. The rest of the LD’s will also have the Kurdistan language on them…ALL OF THEM! All of them are positioned in [secured] banks right now. This 500 IQD note released…IMO…equals a CHANGE THAT IS COMING to the IQD rate. I believe the rate will go full-speed by the end of the year. The banks in Iraq…(especially the big 3)…will hold onto the 50k’s for a while to make large transfers – which spells…NO LOP![post 2 of 2]
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Frank26 (Dinar Guru) – The international companies are waiting…salivating for a chance to get into Iraq…but continue to wait for them to change the value of their currency. Abadi said he solve things after EID. EID is the 6th, 7th and 8th of July. Right after EID…all of the reforms will travel at a much faster pace. [Guru] Delta called this week and says “…The CBI is going to release the 500 IQD note with the Kurdistan language on it.” As you know, the citizens already have a 500 IQD note (without the Kurdistan language on it). ...IMO…when the value of the IQD goes up…the new 500 IQD note …will be THE LARGEST DENOMINATION! There will be no more 3 zeros! The 3 zero notes will fade away…because mathematically (with the new rate)…those don’t work. When they raise the value in Iraq…the 3 zero notes won’t be usable to the citizens any longer. The plan is to lift the 3 zeros from the citizens. 500 IQD note (and notes lower than that) is all that will be used in the future. The others will be deleted over the next few years. [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing) 06-29-16
Currency Auctions Announcement No. 3231
This daily currency auction was held in the Central Bank of Iraq on the 06-29-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 30 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 141,756,285 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 141,756,285 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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wmawhite (Dinar Guru) – [If I understood Mr. White last week, he said the CBI along with the IMF would RV or RI the Iraq currency. Did I read that wrong?] The answer to your question lies in the answer to this question; who owns the Iraq Dinar? The Central Bank of Iraq or the International Monetary Fund? The answer is on every IQD note. …there is only one entity that is responsible for maintaining the value of a currency…the central bank that owns the currency…no one else.
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firefly (Dinar Guru) – All countries were supposed to be Basel 3 compliant on…July 1st…Meaning banks need to be asset backed. Last week there was a number of Bank stress tests globally. Plenty of assets in Iraq…This isn’t intel but TV news.
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Governor of the Central Bank’s (range): precautions at a good level
(conducted the meeting: Zahraa Hamid)
Maybe it raises talk in economic and financial affairs many Hjona the followers, he is the modern-related livelihood daily per capita and how to get the economy moving, which faces many pitfalls impede progress, including currency and dinar speculation Exchange at the price of the dollar and the auction currency that turned him raised a lot of doubts and questions, in addition to work civil and foreign banks and remittance, and how to get out of the financial crisis that has plagued Iraq, and even the recent international Monetary Fund loan with falling oil prices and its consequences, as the sole supplier, which had a negative impact on the central bank’s reserves amount of foreign currency, According to specialists may not the reserve covers three months import of Iraq.
All these and other files open the “long” in a private meeting with the governor of the Central Bank of Ali Ismail Keywords…
Continued at bottom of THE BLOG(long read)…
Read More: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) – Article: “Central sets Monday and Tuesday to announce the price of gold bullion” Quote: “…that according to the published rates are based on the (price of gold on the world market for the previous day – Monday), $ 15 plus other fixed costs (wire and insurance).” That gold pricing soon is big news…
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Enorrste (Dinar Guru) – To just state that the money supply is increasing does not mean that the value of the dinar is falling. We know that the increase is not a concern because inflation in Iraq has been kept in check for years. The real reason the money supply is increasing is due to the liquidity problem. That is not related to the value of the dinar. As the CBI has stated many times, in their view (given their reserves) the dinar is grossly undervalued. [post 2 of 2]
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The Central Bank pulls a vacation of two companies, one to sell the dollar, “betrayed the trust”
Alsumaria News / Baghdad – Central Bank announced on Monday the withdrawal of two companies leave, attributing the cause Bmkhafatthma what he described as “serious” and the other for “cheating Secretariat”, while trade demanded the cancellation of granted them certificate of incorporation.
The bank said in a statement Alsumaria News received a copy of it, “decided to leave the company to withdraw across the Gulf, to mediate in the sale and purchase of foreign currency granted to them”, adding that “the company violated work rules and betrayed the trust”.
A slight increase in central bank sales to reach $ 115 million
The central bank is required to reduce dollar sales for citizens wishing to travel
He said the bank, that “the company contracted to transport the health of residents of Nineveh staff salaries in Erbil and acquired those salaries illegally,” noting that “the amount that is acquired it is 11 billion and 432 000 466 thousand dinars.”
He said the bank “also decided to withdraw leave tamarisk company to broker the buying and selling of foreign currency as a result of serious irregularities with the terms of the granting of leave in respect of doing foreign remittances to different capitals.”…
Read More: http://www.dinarupdates.com/blog/
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Enorrste (Dinar Guru) – ...since 2011 the money supply in Iraq has risen about 10%. That is only 2% per year, which in world terms is quite conservative. With respect to the 50k notes, again, it is simply not the case that the CBI or anyone else just “gives out” the new bills. They are traded for other bills or are issued as replacements for worn out money. None of this affects the money supply itself. …a 2% annual increase in the money supply barely keeps up with economic growth. If the economic growth in Iraq averages, say, 4% per annum then the overall affect of a 2% growth in money supply places upward pressure on the value of the dinar, not downward. This is the key point here. It is all relative. [post 1 of 2….stay tuned]
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Bluedog (Dinar Guru) – IMO…THE ECONOMIC MEETINGS IN IRAQ WITH THE CBI HAVE BEEN INTENSE IN THE LAST FEW DAYS…AND WILL THEY TELL YOU THE TRUTH? IMO, NO …THEY WILL TAP DANCE TO THE WORLD… BE OF GOOD CHEER IMO FROM WHAT I HAVE SEEN.
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