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 | 1332.823 | 1332.157 |
| British pound | GBP | 1537.546 | 1536.777 |
| Canadian dollar | CAD | 917.346 | 916.887 |
| Swiss franc | CHF | 1227.159 | 1226.546 |
| Swedish krona | SEK | 140.477 | 140.407 |
| Norwegian krone | NOK | 143.605 | 143.533 |
| Danish krone | DKK | 179.113 | 179.023 |
| Japanese yen | JPY | 11.761 | 11.755 |
| Special Drawing Rights |
SDR | 1656.218 | 1655.390 |
Indicative rates – 08.18.2016
http://www.cbi.iq/
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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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rcookie (Dinar Guru) – Article: “Iraqi delegation in Cairo to take advantage of the experience of the Egyptian Investment Authority“ ADDING 488 IRAQIS HAVE BEEN TRAINED IN THE PROGRAM IN THE INVESTMENT… INSURANCE… STOCK EXCHANGE…AND CAPITAL MARKET AREAS AND GREETED BY THE 18 MEMBER IRAQI DELEGATION OF GOV’T AGENCIES & NATIONAL COMMISSION FOR IRAQI INVESTMENT… AND NOTES IRAQ IS RANKED 25TH IN COUNTRIES INVESTED IN EGYPT… COMPRISED OF 3324 COMPANIES WORTH 492 MILLION AND OVER 4000 EMPLOYEES IN ALL SECTORS… WOW!! WHO IS THE MOST INTERESTED IN SETTLING OF DISPUTES BETWEEN BUSINESSES AND COUNTRIES… HANDLING TRADE DISPUTES BETWEEN PARTIES AND NATIONS… IT IS 1 OF THE FINAL STEPS FOR WTO ACCESSION.
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Adam Montana (Dinar Guru) – [do you think that there is any chance that once the RV is started that they will try to “cheat us” out of a fair share of the RV?] Nope. I understand your concern and where you are coming from, but it would be “RV Suicide” to try to steal from those that they need to support them. Basically, you’re alluding to an “in country” RV. I don’t have any fears of that happening.
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Breitling (Dinar Guru) – …They’ve kind of accelerated what it is they want to do. That’s why you’re seeing a lot of articles coming out talking about retiring notes and stuff like that. It’s not the CBI itself. Remember how I follow the laws of Iraq. It’s the parliament, the ministry of Planning, the ministry of Finance and then the CBI…if you have those 4 talking about it in THAT order then it means something. What are the numbers. Who’s passing the law…that’s what I want to know. The CBI said they were going to add value to the currency. The ministry of planning said they were going to add value to their currency. The minister of Finance said we are going to add value to the currency. Parliament said we are going to add value to the currency. The IMF is on board so Iraq can add value to their currency…If you don’t understand this part of it, it’s tough to follow. How do you do it? The numbers are there. It’s not an opinion. [Post 2 of 2]
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rcookie (Dinar Guru) – Article: “Parliamentary legal reaffirms resolve disputes about the amnesty law and vote next Tuesday” DEADLINE OF NEXT TUESDAY TO VOTE…AND CONFIRMATION THAT ALL DISPUTES ABOUT THE AMNESTY LAW HAD BEEN SETTLED…
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Delta (Dinar Guru) – CBI SITE TENDER 08/17/2016. ASKING COMPANIES TO PROVIDE THEIR TENDER FOR COUNTING AND SORTING MACHINES FOR LOCAL AND FOREIGN CURRENCY. 09/18/2016 IS THE LAST DAY TO SUBMIT THE TENDER.
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mike (Dinar Guru) – I think Iraq’s reserves are around $50 billion, M0 money supply is at least 30 trillion dinars and when you add in the ISX and other things, the M0 is roughly 60 trillion dinars, or a ballpark of 30-60 billion dollars worth of dinar at the 1182 rate. But what happens if you raise the rate to say 0.10? Now, that same 30 trillion dinar is worth $3 trillion dollars, that’s nowhere close to 150% coverage of the currency in reserves. I’m all for the float but hopefully Iraq will get the currency into Article VIII first. [post 2 of 2]
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mike (Dinar Guru) – Article quote: “The float of the dinar that reduces pressure on the central bank in relation to the size of the foreign currency reserves…” For me, the float is a great idea, after they’ve moved to Article VIII. There won’t be any demand for the dinar until it’s internationally recognized and accepted. …just look at the street rate vs official rate as it stands today, there’s a 9% spread. Once Iraqi’s can buy Turkish tomatoes with the dinar, demand will increase. There are many in the GOI who are all for the float today because they know it will probably drop to somewhere between 1400 and 1500-$1 and it will result in lower costs for payroll etc. [post 1 of 2….stay tuned]
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Frank26 (Dinar Guru) – Quote: ”The GOI Signs on Thursday a Memorandum of Understanding with the United Nations that Requires the Involvement of International Investigators in the Files of the Grounds of Corruption” the UN is there with…handcuffs…to a degree…The UN is going in to…to remove the corruption…We are waiting…and watching for the UN to be successful in what they are doing…me and my TEAMS only care about the UN, the WTO, the IMF and the USA right now…Monetary Reform is out right now in front of our eyes…even before they release Mosul to you as liberated…they have already passed all the laws for the Monetary Reform…once they give you Mosul…what did we tell you…IMO the Monetary Reform will come at you with the speed of light.
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Breitling (Dinar Guru) – …Iraq has been hit because of the oil prices that went down. It messed everybody up…it really did. but in the end what’s the answer? What’s on the table? Banks are having problems getting people cash. And then you have people out there say they have too much dinar out there so it’s not going to revalue. how does that work? doesn’t make any sense does it? Not only that but you have two reports that came out talking about one at 6 billion notes and one at 4 billion notes. [See Bretling Post from 8-16-2016] …Yeah let’s say it’s true…they have 53 trillion dinar…then yeah it’s not going to revalue. but it’s up to you. I’m not going to convince anyone of anything, it’s not my job. I know exactly what’s going on. I know exactly what the numbers are. And they’ve reduced it since the 4 billion note count. How long ago? I don’t know. I know what’s coming down the road….what’s going on in Iraq is pretty shocking. [Post 1 of 2 stay tuned for the rest of the story]
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rcookie (Dinar Guru) – Article quote: “Ahmed Abd Rabou opened the Commerce Department a new center for Supply in the city of Ramadi…” …HERE COMMERCE MINISTRY IS ANNOUNCING OPENING OF NEW SUPPLY TRADE CENTER IN RAMADI AFTER ACHIEVING REQUIRED STABILITY IN RECORD TIME…TO SAY THAT ABADI AND HIS NEW CABINET MINISTERS SWORN IN YESTERDAY HAD A HUGE DAY TODAY…BIG UNDERSTATEMENT…
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mike (Dinar Guru) – Article quote: “…the lack of confidence of citizens in banks behind it are many reasons, such as lack the Iraqi government keeping its commitments to the private sector…” Literally, for years, we’ve read about the banks not being up to snuff, corruption and the governments lack of support for the open market economy. Statistically speaking, they can’t maintain this kind of failure and ineffectiveness forever, can they?
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Kaperoni (Dinar Guru) – Article: “Keywords acknowledges the absence of fiscal policy and accuses the institutions working for political interests Baaaguetha” Don’t confuse “fiscal policy” with “monetary policy” Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy. It is the sister strategy to monetary policy through which a central bank influences a nation’s money supply.
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Iraqi Dinar/Dollar auction (most recent listing) 08-18-16
Currency Auctions Announcement No. 3262
This daily currency auction was held in the Central Bank of Iraq on the 08-18-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 141,350,848 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 141,350,848 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – Quote: ”The Duties of the WTO Task Force is to Reduce the Difference of the Value of the IQD to the USD and Activating Iraq’s Private Sector” …the WTO is telling you they have a task force in Iraq and we are doing our best to close the gap between the IQD and the USD…by raising the value…The WTO is now in position to welcome them…how will you know when Iraq is international…the moment the WTO tells you they have accepted them as members…the international status of Iraq is eager to introduce their currency…not at a program rate.
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Breitling (Dinar Guru) – They [People who feel there is trillions of dinar out there] look at the CBI and they’ll look at the reports coming in and it says in their reserve they have 53 Trillion dinar or 61 trillion…at one time it was 81 trillion and then it went down. People don’t understand it’s all the assets combined…it’s gold, it’s oil, it’s the reserve, it’s not the country’s note count. There are 2 reports that come out…one report said they had 6 billion notes and how much dinar that represented…I’ve talked about this for years. Then the next report came out and it said it was down to 4 billion notes but it never came out with how much that 4 billion represented. People would get the countries note count mixed up with the countries overall value. [Part 2 of 2]
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Jubouri eager to proceed with plans to speed up reform and enactment of important laws
The head of the House of Representatives, Salim al keen House of Representatives to proceed with plans to speed up reform and enactment of important laws.
A statement by the Information Office of the President of the Parliament received by all of Iraq [where] a copy of the “al-Jubouri, received in his office on Tuesday, the US congressional delegation headed by Democratic Senator Corey Booker and his accompanying delegation,” Mnohna as “During the meeting, research in developments in the political and security landscape on the local scene, as well as the regional situation and its implications, especially with regard to the war on terror dossier. ”
The statement noted that “the meeting, they discussed the displaced file and the conduct of the legislative work and the role of the House of Representatives to speed up the enactment of important laws.”…
Read More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Basra calling for the rehabilitation of border outlets being an important economic resource” …WHERE AT ONE TIME THE CUSTOMS TARIFFS INCREASES TO BE IMPOSED AT BORDER POINT WERE MAJOR OBSTACLE AND SOURCE OF CONTENTION IN THESE BORDER CROSSING AREAS…THE SUCCESS OF THE REVENUE STREAMS TO THE COUNTRY AND PROVINCIAL SHARE OF THE REVENUES HAVE THESE AREAS TRIPPING OVER THEMSELVES TO GET ENGAGED…WHAT A DIFFERENCE A YEAR MAKES.
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Breitling (Dinar Guru) – Article “Dozens demonstrate in front of the family bank in central Baghdad to demand their money…” People don’t realize this but this has been going on at more than one bank. The thing is the banks are not releasing cash to the citizens. And that’s strange since there are misunderstandings out there of how much dinar is out there. With all that dinar out there [Said sarcastically]. There’s a shortage of getting citizens their money? That worthless dinar? How does that happen? Strange circumstances don’t you think? With trillions and trillions of dinar out there…and that’s the accusation that’s out there…why would they have problems giving cash to people on the streets? [If there was trillions of dinar] It doesn’t exist. …it’s not a nation wide thing but it keeps happening over and over again. So again, my question is…With all these trillions of dinars? …It’s the note count and it’s something that’s not talked about… [Part 1 of 2]
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Iraqi Dinar/Dollar auction (most recent listing) 08-16-16
Currency Auctions Announcement No. 3260
This daily currency auction was held in the Central Bank of Iraq on the 08-16-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 139,098,650 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 139,098,650 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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mike (Dinar Guru) – To me, fisal policy = legislation. I don’t think you’ll find concrete evidence that he’s wrong, just the absence of the legislation that’s necessary for economic/monetary reform. I think we’re hearing a lot of discussion from the economists, IMF and even the CBI, but precious little from the government itself. I think they’re begrudgingly following the guidelines the IMF set up so they can have access to the loans, but I would agree with Keywords, they don’t have a long term plan. Hopefully I’m way off base and 2017 is the year… [post 2 of 2]
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mike (Dinar Guru) – Article: “Keywords acknowledges the absence of fiscal policy and accuses the institutions working for political interests Baaaguetha” I’m puzzled as to why Keyword’s would put these kinds of statements out today when there’s supposed to be a plan to move this country forward economically and monetarily. We keep hearing about a plan and yet Keywords is telling us there isn’t one. I guess time will tell, they told us Iraq would be part of the worlds economy by mid 2016 and now they’ve moved it to 2017, here’s hoping that is still the plan. [post 1 of 2….stay tuned]
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wmawhite (Dinar Guru) – …the “delete the zero project”…does not mean that a 1,000 IQD note becomes a 1 IQD note. The delete the zero project is the gradual removal of the larger notes from the market place…and that happens by the increase in value of the IQD which will reduce the prices in the market place, thus making the smaller notes usable. The fewer notes in circulation means a greater value of the currency. …the CBI has told everyone of us exactly what they are doing…We have the facts.
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Iraqi government is unanimously unclear
Iraqi Prime Minister Haider al-Abadi succeeded Monday in getting parliamentary approval for five of the names proposed to occupy ministerial positions in which The new government, which was promised months ago that consists of competencies away from quotas partisan reform that raise high the roof frame, but failed to implement any of its requirements, while large sphincter collided with the political blocs to maintain their share of ministerial and administrative positions.
In return for this little amount of “success” Ebadi received a painful blow parliamentary vote against conviction answers and Defense Minister Khaled al-Obeidi during his interrogation before the Council meeting earlier this month, paving the way for the withdrawal of confidence from him and his dismissal in a sensitive period of preparing the prime minister in which to achieve the completion of the war on organizing Daesh complete expulsion of the largest stronghold of him in Iraq; the city of Mosul.
The President of the House of Representatives Saleem al-Jubouri, Monday, insert the withdrawal of confidence from the Minister of Defence at a hearing next Tuesday…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – Urgent: judiciary issued an arrest warrant on the security and defense ministry officer and secretary general of military intelligence and the son of Khaled al-Obeidi…! Quote: “An informed source said on Sunday that the judiciary issued arrest warrants against memorandums of people at the Ministry of Defense based on the confessions of the accused, who directed the minister to the media in accordance with Article 243.” WOW! OBEIDI’S SON AND DEFENSE MINISTRY OFFICIALS ARRESTED…
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SteveI (Dinar Guru) – Article: “Iraq is heading toward financial stability” Quote: “Najib confirmed that «laid plans by the government economic initiatives, very good and entered the implementation phase, there are small, medium and large size of more than six trillion projects Iraqi dinars, which will generate revenues and stimulate the economy in the near future »and showed the MP that the economic crisis in the country needs time to end it because of Iraq is unable to diversify its economy and sources of the budget, especially as the security situation in the implementation of economic plans and expansion by the advent of international companies to invest in Iraq.” I really like this paragraph…Just think of the potential of the outside investors and when the current value of their currency increases, the power of these economic initiatives will have on the global economy. I am very impressed and very pleased to be reading this type of news.
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DU NEWS RECAP by RCookie
WEDNESDAY AUGUST 10TH, 2016
GENERAL
GOLD AT 219,00 IQD TO THE WEIGHT…AUCTIONS AT $150 MILLION…ZEBARI PRESIDES OVER ECONOMIC AFFAIRS COMMITTEE ALONG WITH CBI GOVERNOR & CHAIR OF INVESTMENT AUTHORITY & INDUSTRY MINISTRY MEETING TO DISCUSS WINTER STRATEGY FOR BAGHDAD SERVICES PROJECTS WATER, SEWERAGE AS WELL AS PRIVATE SECTOR MEDICINE AND INDUSTRY…ABDUL BARI ZEBARI ELECTED TO PARLIAMENT FOREIGN RELATIONS COMMITTEE CHAIRMAN…JAFAARI ANNOUNCES ESTABLISHMENT OF FOREIGN CONSULS IN BASRA PROVINCE INCLUDING US, RUSSIA, KUWAIT, IRAN AND EGYPT FOR ECONOMIC & POLITICAL FACILITATION…NORWAY ANNOUNCES TOTAL RECONSTRUCTION SUPPORT TO IRAQ $10.6 MILLION FOR 2016…
Read More: http://www.dinarupdates.com/blog/
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tlm724 (Dinar Guru) – Article: “The Iraqi government signed on Thursday a memorandum of understanding with the United Nations requires the involvement of international investigators in the files, “grand corruption“ For months, Iraqis organize demonstrations in the capital Baghdad and the southern provinces, demanding the formation of a government of technocrats, and an end to political wrangling in Parliament, and to provide the corrupt to justice… hopefully this will help calm the people a lil.
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SteveI (Dinar Guru) – There is just too much going on in the back ground to support this happening that I am extremely encouraged. There are a few things going on within the ISX that if our team can really confirm, then that alone would put the icing on the cake for me. I believe that once Mosul is under control we are going to see some very happy days.
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