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 – 07.10.2015
http://www.cbi.iq/
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Experience trumps brilliance. – Thomas Sowell
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*** Current News ***
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Kaperoni (Dinar Guru) – Article: “Rafidain Bank is preparing to expand his work and the opening of new branches” …more banks to run to when the event begins.
Kaperoni Article: “Rafidain Bank is preparing to expand his work and the opening of new branches” …more banks to run to when the event begins.
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Bondlady (Dinar Guru) – Article quote: “The IMF approved, to grant Iraq credit line worth $ 5.34 billion to help it overcome the financial crisis faced after the deterioration of oil prices and the war against terrorism.” it*** must*** implement ***a series of economic reforms ***to get the rest of the installments*** of this assistance plan for three years.
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BGG (Dinar Guru) – the June/July thing has been wildly over blown AND I think everyone is missing the significance – THEY ARE RE-INTEGRATING with the world now…and are still THE MOST UNDERVALUED CURRENCY there is…”Grossly undervalued” is the terminology used by economists…GOOD FOR US. Abadi is still pushing forward on all kinds of reforms… There is lots of news out confirming and talking about the first installment by the IMF getting sent to Iraq… (…it is being sent “incrementally” – based on their implementation of “reforms”) – ask yourself at what point is “currency reform” on their check list…that is the question you SHOULD BE ASKING. [Any thoughts on the progress of the cabinet reshuffle and the possibility of reaching a quorum to get the important laws passed?] I think that is all soon. Abadi will get that done. [post 2 of 2]
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BGG (Dinar Guru) – […why the delay in revalue of dinar and what he think is coming down the road?] First off – “delay in the revalue of dinar” implies that anyone (here on the web) “knows” when it was supposed to happen – this assumption is flawed. This is not the case – highly unlikely anyone has real “fore-knowledge” of such an event… what do we KNOW? …according to the SIGR report – this was plainly supposed to have been done in 2013 – AT AROUND A BUCK…this is information delivered to the US Congress. I doubt it is inaccurate. why was it delayed? The CoM plainly stated their reasoning. Looking at their comments then and now – it looks like they are rapidly addressing these issues. [post 1 of 2….stay tuned]
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Delta (Dinar Guru) – Article: “IMF calls on the Government of Abadi to achieve reforms in exchange for loans” IMF ASKED IRAQI GOVERNMENT TO IMPLEMENT ECONOMIC REFORM IN EXCHANGE FOR THE REST OF THE LOAN.
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BGG (Dinar Guru) – [So, this could take another year or so…?] I doubt it – anything is possible…they have some serious hurdles – but I am excited about where they are going – and at what speed they are getting there…are these hurdles before or after the point of currency “realignment” you and I are hoping for – I do not know… NOR DOES ANYONE ELSE.
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BGG (Dinar Guru) – this bit about the 250 notes and 500 notes…This is NOT SOME QUE to an RV…OR KEY…It is simply the GOI/Baghdad – “romancing” the Kurds – which is good…our 250 and 500 notes will be fine (as are the new and old 25k notes) – ALL GOOD. …The CBI and Parliament have been promising the Kurds new money (which includes them) for YEARS… …THE CENTRAL GOV’T reaching out and including the KURDS…kinda funny it’s just showed up now… I suspect it has been printed and waiting all along.
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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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rcookie (Dinar Guru) – PARLIAMENT RECONFIRMS ITS MEETING FOR TUESDAY THE 12TH AT 11:00 AM WITH NO ANNOUNCED AGENDA OTHER THAN THEY WANT SHAMMARI URGENTLY FOR QUESTIONING…ABADI ANNOUNCES COMPLETE CLOSING OF EVERYTHING TOMORROW (SUNDAY) FOR EID AL-FITR…
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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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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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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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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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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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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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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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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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