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 | 1338.142 | 1337.473 |
| British pound | GBP | 1554.803 | 1554.025 |
| Canadian dollar | CAD | 925.245 | 924.782 |
| Swiss franc | CHF | 1233.434 | 1232.817 |
| Swedish krona | SEK | 141.099 | 141.028 |
| Norwegian krone | NOK | 144.837 | 144.765 |
| Danish krone | DKK | 179.816 | 179.726 |
| Japanese yen | JPY | 11.844 | 11.838 |
| Special Drawing Rights |
SDR | 1661.360 | 1660.529 |
http://www.cbi.iq/
Indicative rates – 08.21.2016
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Those who profess to favor freedom, and yet depreciate agitation, are men who want crops without plowing up the ground. – Frederick Douglass
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*** Current News ***
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rcookie (Dinar Guru) – […I would think to pay foreign contractors their would need to be some sort of rate established.] THERE DOES…AND MORE IMPORTANTLY WHY THE IMF TASKED THEM TO OVERHAUL THEIR CREDIT REGISTRY AND RISK ASSESSMENT PROCESSES…NEED TO BE READY FOR THE INVESTMENT WHALES.
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Kaperoni (Dinar Guru) – Article quote: “…the US panel competent to combat financial intelligence department personnel discovered 300 banking company and money transfer and 6 suspicious Iraqi banks operate offense laundering financial aid, noting that the committee has reached Baghdad…” IMO, time is of the essence to activate the banking system. That being said, this committee is there to clean up the mess so reforms can proceed.
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Aggiedad77 (Dinar Guru) – Article: “Economic parliamentary: the decision to adopt $ 35 for a barrel of oil in the budget of 2016 is a given right” Quote: “…the government consulted with the International Monetary Fund and made a decision to reduce the price of oil per barrel in the 2016 budget from 45 to $ 35 for control of the state requirements, as the 2016 budget of 105 trillion dinars reduced to 90 trillion dinars to control the deficit.” What I find encouraging about this article is the fact that they are seeking consultation from the IMF with what to do regarding their budget…lean on the knowledge of others who run far bigger entities in the world.
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rcookie (Dinar Guru) – Article: “Parliament went to resolve points of contention in the Justice and Accountability Law Tuesday” A & J LAW VOTE ON TUESDAY [&] THE GENERAL AMNESTY LAW…LOOKS LIKE BOTH WILL BE VOTED ON TUESDAY THE 23RD..THE 2 BIGGEST LAWS OF NATIONAL UNITY & RECONCILIATION… 2 FOR THE PRICE OF 1 AND THEY ARE HUGE…VERY IMPORTANT.
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rcookie (Dinar Guru) – ...IRAQ IS GOING TO HAVE AN INVESTMENT SERVICES COMPLEX TO ACCESS AND UNDERSTAND THE SERVICES OFFERED TO INVESTORS INCLUDING INTEGRATED SERVICES ACCESS TO GOV’T AGENCIES IN ONE PLACE…1 STOP SHOPPING AND INVESTOR SERVICES ACCESS!…THAT IS AWESOME!!
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firefly (Dinar Guru) – Article quote: “He predicted the financial advisor to the Prime Minister that “the budget deficit in 2017 up to about $ 18 billion,” stressing that “the budget was drawn according to what has been agreed upon with the International Monetary Fund.” Now this is Saleh talking! Abadi’s Financial advisor. This is worth repeating: “the budget was drawn according to what has been agreed upon with the International Monetary Fund.” Remember, the IMF’s role is preparations for countries through Article IV meetings. …we are watching the play in the front row seats!
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Iraqi Dinar/Dollar auction (most recent listing) 08-21-16
Currency Auctions Announcement No. 3263
This daily currency auction was held in the Central Bank of Iraq on the 08-21-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 137,455,469 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 137,455,469 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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tman23 (Dinar Guru) – IMO…Ernest and Young are to be close to finishing setting up the 2 state banks near End of October… October is when the WB and IMF funds are scheduled to be released to Iraq… October is when we will see the liberation of Mosul… Basically…The CBI will have 60 days to the first of the year to introduce and educate citizens on the lower denoms… WE should begin to hear tons of chatter on the subject mid to late September.
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rcookie (Dinar Guru) – …THE REAL TELLING NUMBER IN THE RELEASED 2017 BUDGET DATA…FOR THE FIRST TIME THEIR GDP IS UNDER 90% OIL RELIANT REVENUES…THAT MEANS THEIR NON OIL REVENUE STREAMS LIKE CUSTOMS TARIFFS…ELECTRICITY & TELECOMMUNICATION TAXES…NATURAL GAS…LNG AND CONDENSATE AND OTHER EXPORT PRODUCTS ARE MAKING IRAQ LESS OIL RELIANT THAN THEY HAVE EVER BEEN…AND THE DIRECTION THE 3 LETTER AGENCIES WANT TO SEE THEM GO…
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BGG (Dinar Guru) – [lots of news…just cant believe how much has been going on in Iraq!] I can’t believe it either. In fact, one has to wonder when that “tipping point” is…when so much is done, so much is accomplished, their economy is in such a state the “grossly undervalued” price of the Dinar is doing them considerable economic harm…there was a time the currency imbalance worked for them – however, I think they are nearing this place where they would like it to be “upped”…The flip side of Iraq wanting their currency “upped” – is they aren’t the ones with the ultimate say…which brings us back to the IMF/UN being in such critical advisory roles. Iraq’s GOI has BEEN ON FIRE to get their democracy righted since January… what changed? IMF/UN oversight… there has to be some carrot…
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Urgent: Dumping millions of leaflets and the Iraqi media to herald the end of Mosul Daesh
[Oan- Baghdad] – Threw threw the air force planes millions of publications and media on the Iraqi ailing swimming areas and ] advice Mosul city center herald the end of the population Daesh terrorist gangs.
A statement by the cell media Harbi received by all of Iraq [where] a copy of it, that the publications “tell the citizens that Daesh gangs has ended and lived her last days and they prepare to welcome the hordes of liberation for the elimination of all these criminal terrorist gangs”.
Read More: http://www.dinarupdates.com/showthread.php?39354-Urgent-dumping-millions-of-leaflets-and-the-Iraqi-media-to-herald-the-end-of-Mosul-Da
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Frank26 (Dinar Guru) – the Financial Committee met two days ago with the CBI…It is important…that you understand that this meeting…IOO was…the very first time…the Finance Committee actually met with the CBI…and they talked about the IQD…their currency…their currency’s true rate…and about the exchange rate about their currency… Abadi said the new budget is going to reflect the lifting of the 000’s from our exchange rate. …so…are you guys done? …CBI…we’ve been ready for a long time…we’ve been waiting for security…we’ve been waiting for terrorism to go away…we’ve been waiting for corruption to go away within us and the GOI…I think we are ready…Dr. Shabibi said that the next budget will reflect the new numbers of these meetings….I don’t know what the rate will be…I don’t even know when they are going to do this…but I do know that these are the things they are saying to us. [post 3 of 3]
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Frank26 (Dinar Guru) – Abadi has removed many corrupt ministers… with the help of these agencies…and in fact just recently he replaced five of them and there are more to come…some of them are called technocrats…wiser… smarter people…more honest people that actually want to do something for…Iraq. Allak has been holding the proxy position as the governor of the Central Bank of Iraq…and…Abadi and Dr. Shabibi IMO…were busy selecting the governor of the CBI…besides the ministers…the proxy governor of the CBI is about to be replaced…IMO Allak’s replacement is already on the plane. [post 2 of 3….stay tuned]
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Frank26 (Dinar Guru) – Mosul is what we look at right now…through the eyes of the United Nations, the WTO, and the United States of America…The IMF suggested to the country of Iraq that you should float your currency…and that you should enter the international world in the first half of the year and we will take you there in 2016…and that you should remove corruption from the CBI and the GOI…and the UN and the coalition forces will help you remove the corruption of ISIS and DAASH in your country. As we sit on top of a very big mountain right now and look down upon the scenery below us…we see these things accomplished…and as we get closer and closer we are seeing that many things are accomplished. [post 1 of 3….stay tuned]
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DU NEWS RECAP by RCookie
SATURDAY AUGUST 21st, 2016
PARLIAMENT
PARLIAMENT LEGAL ASSERTS DRAFT AMNESTY LAW COVERS NOT ONLY IRAQI CITIZENS PRISONERS & CONVICTS…COALITION FORCES POLITICAL BLOC MP MASHHADANI STATES GENERAL AMNESTY WILL PASS A HEARING IN PARLIAMENT ON MONDAY AND BE PUT TO VOTE…NATIONAL ALLLIANCE MP ASSERTS ACCOUNTABILITY AND JUSTICE LAW WILL BE PRESENTED FOR VOTE ON TUESDAY 23RD AFTER ALL CONTENTIOUS ARTICLES AGREED UPON AND HAVING ALREADY RECEIVED ITS 2ND READING…IRAQI CABINET APPROVES 26 BILLION IQD ALLOCATION & DISBURSEMENT OF FUNDS FOR GENERAL SERVICES UPGRADE PROJECTS IN WASIT AND DIWANIYAH…PARLIAMENT LEGAL ASSERTS REDUCTION OF HOUSE MEMBERS DOES NOT REQUIRE CONSTITUTIONAL AMENDMENT…INTEGRITY REJECTS CRIMES OF CORRUPTION INCLUSION IN GENERAL AMNESTY LAW…ABADI SPOKESMAN SABRI ASSERTS THAT ABADI WILL RELEASE NAMES FOR REMAINING 3 CABINET POSITIONS IN THE NEAR TIMES…ABADI OFFICE SPOKESMAN ANNOUNCES THE ARRIVAL OF 21 INTERNATIONAL INVESTIGATORS TO BAGHDAD BY END OF AUGUST TO BEGIN INVESTIGATING FINANCIAL CORRUPTION FILES AS PART OF MoU WITH UNITED NATIONS AFTER SERIOUS EFFORTS BY POLITICAL BLOCS TO INTERCEPT THIS ACTION & INFLUENCING JUDICIARY AND INVESTIGATIVE ACTIONS TO QUESTION IMPORTANT FIGURES BY INTERNATIONAL EXPERTS 19 WESTERN 1 ARAB 1 JORDAN BEING GIVEN FULL ACCESS & FREEDOM RTO REVIEW RELEVANT DOCUMENTS OF THE CBI & FINANCIAL INSPECTORS OFFICE IN PURSUIT OF $361 BILLION IN MISSING STATE FUNDS FROM 2004-2014, AND COVERING ALLAWI, JAFAARI AND MALIKI REGIMES AND RELATED MINISTERS AND INCLUDE THOSE CURRENTLY RESIDING OUTSIDE OF COUNTRY…
Read More: http://www.dinarupdates.com/blog/
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mike (Dinar Guru) – ...they’ll get this open market economy up and running and the country will prosper or they won’t and in a short time they won’t be able to make payroll for the 4 million plus state employees and then all hell is going to break loose. They say necessity is the mother of all inventions and I’m hoping this applies to Iraq as well. Iraq needs to course correct in a big way for it’s own political and sovereign survival. The investment is still a good one…even if the currency goes to a quarter it’s still a 25,000% increase in your investment… All we’re waiting for is the political will for real change…IMO. [post 2 of 2]
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mike (Dinar Guru) – Until Iraq develops the political will for change, things will be the same two years from now as well…here’s the thing, they can’t afford to continue the way they’ve always done things. The financial crutch and foundation for this corrupt nation has all but evaporated. Oil will not save the day for Iraq and it’s corrupt leadership anymore. The reserves, or the nation’s safety net, is eroding at an alarming rate and in a short time there won’t be enough money to borrow to keep this country afloat. Two things will happen in Iraq… [post 1 of 2….stay tuned]
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Bruce (Dinar Guru) – …we talked about the Amnesty Law having been passed and gone through and been put into the Gazette? Evidently there’s five parts to that Amnesty Law. Three …of the parts have been passed and gone through and are in the Gazette. There may be two more aspects to it that might…go through the weekend. We don’t believe that these two aspects of the Amnesty Law…will hold anything up or is something that we’re waiting to have happen. I will say this, looking at this thing from my perspective; it appears we are coming down to the wire. It appears this is to go between now and the weekend. I’m not going to name dates. I’m not going to name days. I’m excited about how close we are.
BGG ~ COMPLETE B.S. ARTIST!!
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wmawhite (Dinar Guru) – Article “Iraq is Back in Business, According to Wyndham Group” Quote: “…the Wyndham Hotel Group will be building two new hotels in Najaf before 2018, a secure southern town that sees huge influxes of religious pilgrims.” do you think that they just thought of this today? Really…they have been looking at these projects for YEARS!
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rcookie (Dinar Guru) – Article: “Anbar governor reveals an agreement to build a modern, commercial city in Habbaniyah” ANOTHER CITY…THIS ONE A MODERN COMMERCIAL CITY IN ANBAR WITH A CONSORTIUM OF PRIVATE SECTOR COMPANIES FROM THE US AND SOUTH KOREA. THE STATEMENTS IN THAT ARTICLE ARE PROFOUND AND SPEAK DIRECTLY TO THE LEVEL OF GLOBAL CONFIDENCE IN IRAQ’S ECONOMIC PRESENT & FUTURE…JUST TRY AND GRASP THE SCOPE AND MAGNITUDE OF THIS PROJECT…THE LARGEST DEVELOPMENT PROJECT IN ALL OF IRAQ. TO BUILD A MODERN COMMERCIAL CITY OVER 10 YEARS STARTING 2017 SPANNING 40 MILLION SQUARE METERS (15.5 SQ MILES)…15.5 SQUARE MILES WORTH OF DEVELOPMENT SPACE…ANYONE HERE UNDER THE IMPRESSION THE INTERNATIONAL INVESTMENT COMMUNITY LACKS CONFIDENCE IN IRAQ AND ITS INSTITUTIONAL STABILITY…NOT! …AND THE FACILITATORS OF THIS ANBAR PROJECT ARE THE UNITED STATES AND SOUTH KOREA…
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firefly (Dinar Guru) – Article: “Presented Finance Minister Hoshyar Zebari, a draft 2017 budget law to the Council of Ministers.” Now this is interesting, wonder when the deadline is to approve it? And why talk about it in August! Why would they want it completed in Sept? The numbers are mind boggling. Follow the money folks!
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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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rcookie (Dinar Guru) – Article quote: “Amnesty bill does not reveal a clear philosophy in dealing with the crimes covered by the amnesty, and the crimes are excluded from it.” THIS PIECE GIVES YOU EVERYTHING ABOUT AMNESTY LAW BACKGROUND HISTORY UP TO TODAY THAT YOU COULD ASK FOR…THIS IS AN EXCEPTIONALLY COMPLEX LAW…WITH FAR REACHING CONSEQUENCES THAT WILL IMPACT THEIR SOCIETY FOR A LONG TIME…FROM TORTURE…TO TERRORISM…TO FAKE DIPLOMAS & COUNTERFEITING…THE APPEAL PROCESS AND IMMUNITY… AND CAN OBVIOUSLY SEE WHY IT HAS TAKEN SO MUCH TIME AND ELICITS SUCH DEBATE FROM SO MANY ANGLES… BIG…BIG…ISSUES …THEY ONLY HAVE ONE SHOT AT IT…
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Frank26 (Dinar Guru) – [Last week you stated the fiscal year for Iraq is October to September, but…you changed that to say Iraq’s fiscal year has always been January to December. So has the time frame now changed from September/October to December, 2016 or even possibly the beginning of 2017…Would you mind clarifying this?] Said does NOT have to be that long…Said they are way ahead of schedule…Said all of M. E. is always on a Financial Year…Said all has to happen BEFORE they enter 2017…They will launch their 2017 Budget on 1/1/17 as they and the ME ALWAYS DO…As the 2017 Budget comes to life with a new rate in September of 2016…IMO.
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rcookie (Dinar Guru) – Article: “Ministry of Finance: the adoption and the wills of oil by 90% in 2017 budget” Quote: “The Ministry of Finance next month of September, the date for the completion of the state budget for the year 2017…” …SO IN ATTACKING THE FORMATION OF THE 2017 BUDGET…ZEBARI ANNOUNCES THAT IRAQ BUDGET 2017 DEPENDS ON OIL SALES BY LESS THAN 90% FOR THE 1ST TIME IN SEVERAL DECADES…AND WILL BE COMPLETED BY END OF SEPTEMBER. THEY HAVE CHANGED THE IMPETUS OF THEIR ECONOMY…AND WILL ONLY CONTINUE TO IMPROVE & PROSPER…AND OBVIOUSLY EARNED THE RESPECT…CONFIDENCE AND STABILIZATION THE 3 LETTER AGENCIES ARE FORECASTING RELEVANT TO THE STRONG GROWTH IN GDP AND FOREIGN DIRECT INVESTMENT NUMBERS…TALK ABOUT PROGRESS IN THE RIGHT DIRECTION…
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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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ADMINBILL (Dinar Guru) – WHAT NEWS I HAVE RECEIVED IS GOOD. EVEN THE POSTS FROM FRANK, DELTA AND OTHERS POINT TO GOOD THINGS HAPPENING. CONTINUE TO BE DILIGENT AS WE NEAR THE RELEASE…
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wmawhite (Dinar Guru) – Remember, the size of the notes in a marketplace is reflective of the price of goods in the marketplace. In order for the lower denominated notes to be used in the marketplace is for the prices to have decreased enough for them to be used. With Iraq still importing 85% of its goods, those prices in the marketplace will lower once the value of the currency buying them increases in value significantly. Those goods are imported today with the USD. Those prices will not be brought down in price importing them with a currency less valuable than a dollar.
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Adam Montana (Dinar Guru) – [If we would see a RV in October 2016, do you believe it would be at the once mentioned rate of .10 cents.] Depends on oil prices. If it starts spiking, which is very possible, then yes I think 10 pennies or even higher. If oil is hovering around $50, but we see the HCL, then I’d look for 5-10 cents.
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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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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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