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 | 1320.058 | 1319.398 |
| British pound | GBP | 1546.529 | 1545.756 |
| Canadian dollar | CAD | 903.946 | 903.494 |
| Swiss franc | CHF | 1206.492 | 1205.889 |
| Swedish krona | SEK | 139.093 | 139.024 |
| Norwegian krone | NOK | 142.136 | 142.065 |
| Danish krone | DKK | 177.312 | 177.224 |
| Japanese yen | JPY | 11.595 | 11.589 |
| Special Drawing Rights |
SDR | 1649.883 | 1649.058 |
http://www.cbi.iq/
Indicative rates – 09.02.2016
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Women and cats will do as they please, and men and dogs should relax and get used to the idea. – Robert Heinlein
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*** Current News ***
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Mnt Goat (Dinar Guru) – I am being told that if they stay on their timeframe, can handle ISIS up north and get all the needed laws passed, we will see the articles begin to appear sometime in mid to late October 2016 and they will then be moving towards a late 2016/early 2017 target. The CBI has told me they will guide us through the entire RV process as it is a multi-stage process. So far in the two instances when they almost RV’d (and it was postponed due to security and stability reasons) they did just that and inundated us with articles about the process and how it was all going to work. So my contact has told me once again they will do the same in preparation for the 2017 RV target and so expect to see once a forthcoming inundation of articles and news about the process as they re-educate the citizens of Iraq (and us) once again. [post 2 of 2]
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Mnt Goat (Dinar Guru) – Today I bring you yet more good news…the final passing of the HCL thru parliament was inevitable and just a matter of a short time. It MUST get passage in parliament to become law and be done...When this final passage in parliament does happen it will be larger than HUGE. It will be greater than the Amnesty law we witnessed last week. …also…there are some other contentious laws that have been kicking the can down the road. The Iraqi news has talked about the Accountability and Justice law many times in the recent past…it appears there were some disputes with the law and the UN had to get involved to help settle the disputes and negotiate. …there is an overall plan being executed with all these needed laws… The train is fast moving down the track. We all know what the final destination of this train ride will be and where it will bring us..hint…hint…lol. [post 1 of 2….stay tuned]
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Frank26 (Dinar Guru) – [Didn’t a wise man once say “when you see the HCL a minute latter you will see the rate“.] Yes. You have HCL in Budget… You have DRS [Dr. Shabibi ?] talking…You have a Budget in this month before the 10th as A [Abadi ?] said…
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wmawhite (Dinar Guru) – [Revaluation has to…have HCL in place?] …items used to determine the value of a currency…I do not remember anything on the list about an HCL…the HCL is an internal issue to Iraq and Kurdistan and pertains to oil revenues. It is a budget issue.
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rcookie (Dinar Guru) – [Did the HCL really pass today?] NO… THERE WERE DISCUSSIONS ON OIL AGREEMENT BETWEEN BAGHDAD & ERBIL AT TUESDAYS MEETING BETWEEN BARZANI ABADI & JABOURI …FOR PURPOSES OF THE 2017 BUDGET…
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Frank26 (Dinar Guru) – Video: “activation of the oil agreement between Baghdad and Erbil Thursday” Quote: “Activation of the previous agreement between Baghdad and Erbil regarding the export of oil and the two sides vowed to abide by its provisions apply…” BINGO!!! TEAMS heard it in Arabic…This is real BUT…We seek MORE confirmation…You see …The key word is Activation for it has been Passed years ago …Just never Activated inside their Budget! IMO …This is Tremendous!
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Frank26 (Dinar Guru) – I do not know if we will see an RV this year or not…but I have told you very clearly that we are in the RI state for the fiscal part that starts on October 1st…you will see…God willing…the budget and things next month in September in the middle that will guide us and tell us more about that…
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Don’t MISS – “DU NEWS TIME” w/BGG & MadScout in the DU CHAT ROOM – Friday 7:30pm CST
www.DinarUpdates.com – save as favorite
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Adam Montana (Dinar Guru) – [I thought it would be the Central Bank of Iraq calling the shots, how is it that now Iran is somewhat influencing said fixed interest rates they’ll have that other major lenders have been protesting?] You bring up a valid point, but I’ll assure you that I’m not worried about Iran’s influence. Of course they do have “an” influence, but at the end of the day it’s not going to be a “major” influence, and that’s the only thing I would worry about. Here’s looking to a SOLID SEPTEMBER!
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rcookie (Dinar Guru) – IT IS OFFICIAL JAAFARI IS NEXT ON STAND…AND THE LIST OF HIS CORRUPTION CHARGES IS LONG & DISTINGUISHED…AND OFFICIALLY ZEBARI WITHDRAWL OF CONFIDENCE WILL BE TUESDAY!!
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Aggiedad77 (Dinar Guru) – Article quotes: “Abadi and the Committee on Energy Ministerial announce the success of the smart meters and provide 24 hours of electricity a second area of Baghdad” “The approval obtained to finance the reconstruction of Ramadi Barrage to secure the water quotas of the provinces along the Euphrates basin and to provide citizens with drinking water” Signs…signs…and more signs…of good things coming to Iraqi citizens…electricity and water resources...Abadi is making the mountain move and he is doing things that catch the citizen’s eye and attention…stop the corruption and put the money where it can be of benefit for those it was intended in the first place.
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DU NEWS RECAP by RCookie
(from) THURSDAY SEPTEMBER 2nd, 2016
PARLIAMENT
PARLIAMENT INTEGRITY COMMISSION INTENDS TO QUESTION PM ABADI AND FM JAAFARI AFTER EID HOLIDAY…REFORM PARTY MP BAAJA ASSERTS ZEBARI VOTE OF WITHDRAWAL OF CONFIDENCE WILL TAKE PLACE NEXT TUESDAY…KURDISTAN DEMOCRATIC PARTY ASSERTING TREMENDOUS PRESSURE TO PREVENT SACKING OF MOF ZEBARI…PARLIAMENT ECONOMIC COMMISSION ASSERTS BORDER CROSSING LAW WILL INCREASE IMPORT REVENUES BY TRANSFERRING BORDER POINT OVERSIGHT & ENFORCEMENT TO PROVINCIAL AUTHORITY..PARLIAMENT MEMBER SAADI ASSERTS PARLIAMENT EFFORTS NEED TO BE DIRECTED AT REFORMS INSTEAD OF CONFLICTS & BICKERING CREATING BOTTLENECKS…ECONOMIST & BANKING EXPERT NASIRI CALLS FOR IMMEDIATE IMPLEMENTATION OF SUPREME COUNCIL FOR PRIVATE SECTOR FOLLOWING THE SUCCESS TEMPLATE OF THRIVING NEIGHBORING COUNTRIES INVOLVED IN ECONOMIC POLICY & ACTION DECISION MAKING IN AGRICULTURE, ENERGY, INDUSTRY & TOURISM AS PART OF DIVERSIFYING 2017 BUDGET REVENUES IN LINE WITH IMF MANDATES,…PARLIAMENTARY FINANCE MINISTER HOSSAM ANNOUNCE INTENTION TO REDUCE 2017 BUDGET EXPENDITURES TO ABOUT 80 TRILLION IQD IN LINE WITHY IMF LOI EXPENDITURE REFORMS…PARLIAMENT LEGAL AL-SADOUN ASSERTS AMNESTY LAW WILL BRING RELIEF TO 2017 BUDGET AS RELEASE OF PRISONERS PROVIDE RELIEF FROM STATE REVENUES TO SUPPORT PRISON POPULACE…MASSOUD RATIFIES AMNESTY LAW AS A PRELUDE TO ITS APPLICATION AFTER AMENDMENT TO ARTICLE VIII…KURD MP CHENKALI ASSERTS THAT ZEBARI CHANCES OF SURVIVAL STILL STRONG DUE TO SUPPORT FROM NATIONAL LED BY ALLAWI AND MASS CITIZEN SUPPORT…ABADI RECEIVES CHAIRMAN OF INTEGRITY AND FINAL APPROVAL REITERATES CALL TO RESIGN ACCEPTED JULY 4TH…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Washington reveal the volume of trade with Baghdad during the 2016” Quote: “…in terms of trade for the current year it since the beginning of 2016 until the present month of August, the bilateral trade exceeded between the two countries Al2.6 billion dollars,” pointing out that “the business of US-led American Chamber of Commerce, which has re-work sector recently he expressed great interest in investing in Iraq in non-oil sectors.” THERE IS A DESIRE AMONG AMERICAN COMPANIES TO INVEST IN IRAQ…$12.6 BILLION…
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Frank26 (Dinar Guru) – If they do have the budget and they do have a 1 to 1 rate and they do enter the fiscal year with that budget…then their physical year, the calendar year of January 1st that is our turn…everything right now with an RI is in-country and the RV is outside of that country…and the RV won’t start until that budget is officially released IMO because it will have the 1 to 1 rate and it won’t be released to Iraq internally until January 1st…it will be visible for the international world in the fiscal sense…the financial sense on November 1st…so let’s see what kind of peek we get. When the budget was established in dinars it was in trillions…but the fact that they are now telling you in billions makes me feel…IMO…that it is in USD and if it is then we have a good chance of it being 1 to 1 with the Iraqi dinar.
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Adam Montana (Dinar Guru) – [I have been struggling over the issue of the 50K note. Is this detrimental or a good thing with regards to our Investment ? If the Dinar was to RV in a relatively short order, why would they even need it?] non issue.
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rcookie (Dinar Guru) – Quote: “…but now the IMF since December has made it very clear it is 1 to 1…plus…every time an article comes out from the GOI or the CBI or some Financial Committee member it is always 1 to 1.” THE IMF HAS MADE NO SUCH THING VERY CLEAR…AND NEVER….EVER…EVER WOULD… “EVERY TIME A CBI OR FINANCE COMMITTEE MEMBER SAYS ITS 1 TO 1“ …NOT A SINGLE SOLITARY SOURCE I HAVE READ HAS SAID THAT.
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Adam Montana (Dinar Guru) – [Is it true that Iraq’s fiscal year starts on October 1st? And if it does, do you think that makes Oct 1 a more likely date for an RV…?] I don’t see the fiscal year as an “RV Date”, actually the opposite – they won’t want to give anyone a “clue” as to their plans.
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SteveI (Dinar Guru) – Article quotes: “…the meeting Abadi officials Kurds, seen to reach agreement on «hold technical talks between the Federal Ministry of Oil and Mineral Resources in the province on the oil file».” “…The «approve oil and gas law formula that satisfies all the political parties, would be a positive sign towards the development and construction of state institutions…” Very nice to see all of this come together.
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Iraqi Dinar/Dollar auction (most recent listing) 08-31-16
Currency Auctions Announcement No. 3272
This daily currency auction was held in the Central Bank of Iraq on the 08-31-2016
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$) | 133,884,851 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 133,884,851 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Islandg1211 (Dinar Guru) – Additionally, the Council of Ministers have agreed on a draft for the 2017 Budget, and plan to send it to the Parliament by mid-September. The Amnesty Law was finally passed. Obeidi, the Defense Minister was fired over corruption charges. Zebari, the Finance Minister may also be fired over corruption charges. The war on corruption is beginning with the passing of laws and the questioning and dismissing of high level officials. Iraq was lost because of corruption and terrorism, and both have to be addressed. [post 3 of 3]
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Islandg1211 (Dinar Guru) – Resolving the differences between the Kurds and Iraq has been a major hindrance to any meaningful progress for Iraq. The Kurds have always been able to delay laws moving forward within the GOI. The HCL could never be passed nor implemented without an agreement over the Kirkuk oil fields. Retaking Mosul could not have gone forward without an agreement with the Kurds. These two agreements with the Kurds is VERY important and is Real Progress. Finally! [post 2 of 3…. stay tuned]
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Islandg1211 (Dinar Guru) – We have excellent news! This agreement with the Kurds over Kirkuk is Very Important! No RV until Article 140 had been resolved. Getting an agreement with the Kurds is extremely important. The meetings between Barzani and Abadi are going very well, with the two most crucial issues being settled. In a press statement, Barzani announced yesterday that an agreement over post-liberation Mosul’s government has been reached between Baghdad and Erbil. Today, it was announced that an agreement over Kirkuk’s oil was reached between Baghdad and the Kurds. Article 140 has been in contention because the Kurds wanted the Kirkuk oil fields. Today’s agreement splits the oil in half and the expenses. [post 1 of 3….stay tuned]
BGG ~ Don’t agree with the article 140 assertion – just GURU opinion (no “fact based” print corroboration – ANYWHERE!!)
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Erbil and Baghdad reach agreement on Kirkuk oil exports
(IraqiNews.com) Baghdad – The Iraqi Oil Minister will soon visit Erbil to meet with his Kurdish counterpart and discuss crude oil exports and revenues.
MP Shakhawan Abdullah said, “The meetings will continue with Kurdistan Region’s Minister of Natural Resources who will be visiting Baghdad for the same purpose.”
“The Kurdish and Iraqi ministers will discuss the technical issues relating to the implementation of a previous Erbil-Baghdad agreement. The KRG and Iraqi government have also reached to an agreement over Kirkuk oil exports through the Kurdish pipelines,” Abdullah revealed…
Read More: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – […your prediction for the RV, you stated at .10. I was wondering at what speed do you think it is going to float or “rise” up from that rate?] Regarding the rate, I DO still like the .10 theory! I regularly re-evaluate my original thoughts as outlined in my thesis, and as of right now they continue to hold strong. I could be wrong, of course! But to the best of my capabilities, the ten cents is still my peg.
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Mnt Goat (Dinar Guru) – Recommitted work towards the finalization of the oil and gas law. Abadi and Jubouri are not going to stop until they get the draft oil and gas law ( or HCL), passed in parliament to become legal and a binding law. All the news points in a positive direction… Amazingly after almost 8 years finally we experienced the Amnesty law passed last week. Now amazingly, another miracle is about to happen. We will soon see the HCL passed. Other laws too are on the agenda and coming soon. So there is a deadline. I know the target date and so we see the progress moving at a very rapid rate now. [post 2 of 2]
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Mnt Goat (Dinar Guru) – Here we are one day from September 2016 already. Iraq is moving at an exhilarated rate forward beyond my wildest dreams. Yes- they have a target timeframe for better security, better stability thus better days ahead. I can hardly believe the news. I was told by my contacts that we should now watch for the HCL. So lo and behold what do we see in the recent news? Article: “Iraqi gov’t, Kurds to start talks on oil dispute” Quote: “The Iraqi government and the Kurdish regional authorities agreed to start talks to resolve a dispute on oil revenue-sharing that is holding back the nation’s crude exports, according to a statement from the Iraqi prime minister’s office.” [post 1 of 2….stay tuned]
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Dinar Updates “After Call – LIVE”!!
“Immediately following News Time!!”
from Tues. 8/30 “After Call” – w/RCookie,
Mr White & Hutch
from 8/30 – Smart phone user link – Click here
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Adam Montana (Dinar Guru) – I’m at a loss here… I want to start typing and just “spill the beans” on everything I’ve got. I actually started and stopped, not once. Not twice… Not even 3 times, but a lot more. I’m hearing, from good sources that I trust, that things are moving in EXACTLY the direction that we want. But after all this time, I’ve learned to bridle my excitement, to keep my enthusiasm in check, and to not get overly anxious. I’m optimistic right now, but we all know we’re working with a 3rd world country, so let’s just stay patient for now. I’m hoping to give a different update shortly.
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Frank26 (Dinar Guru) – You will see IMO…Abadi giving you a liberated Mosul with a flag in the center of it…you see IMO…the beginning…disclosure…of the 2017 budget…you will see the electronic and digital steps starting…you are going to see and hear things much more clearly in the month of September…let’s see what happens between now and the 9th of September…because from the 9th to the 30th things will become solidified…much clearer in understanding…you will be able to see visually that the things they have said…they are doing them…right before your eyes…that will lead to their budget…that will lead to their Monetary Reform. [post 3 of 3]
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Frank26 (Dinar Guru) – The IMF also told Abadi you need to reduce your GOI ministers and he did…he went from 22 cabinet members to 12… Abadi can and will get the reforms done…the Economic and the Financial Reforms… It is all coming together IOO in order to create order within Iraq. They are going to remove the MCP of the other currencies they are using…they won’t use the USD but they will be pegged to it…they need to stop using foreign currency now that they are about to come out with a budget….and if it comes out 1 to 1…you need to understand that was the whole plan from December. 2012 might have been at 10 cents, 20 cents, 30 cents, whatever…but now the IMF since December has made it very clear it is 1 to 1…plus…every time an article comes out from the GOI or the CBI or some Financial Committee member it is always 1 to 1…I am of the school that they will come out at 1 to 1. [post 2 of 3….stay tuned]
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Frank26 (Dinar Guru) – …the Monetary Reform of the Iraqi dinar is picking up pace in all areas…September, IMO…will reveal a bunch of stuff… IMO…there is about four billion 000’s notes that are out there…we want to get down to at least one billion in our note count that is out there…now I think and I feel they are being very successful in this approach... So as Abadi deals with the GOI and the budget and all of these things for the Monetary Reform…the killing of ISIS and the preparation of Mosul is coming along very well. …once they are done with this stuff they are doing right…we are going to see the Monetary Reform speed up better…what is going on right now is actually…kind of like a performance for the international world… I also suggest to you IMO the HCL is done…but it is not implemented…but it is ready… [post 1 of 3….stay tuned]
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Kaperoni (Dinar Guru) – Article: “Central urges expansion of banking activities” They are starting to roll out banking reforms, ever so slowly. You cannot have private investment or a market economy without it. We need laws but the wheels are turning.
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rcookie (Dinar Guru) – [how about a reality, (real) rate based on their assets?] A COUNTRIES ASSETS ARE ONY A SMALL PORTION OF BASIS OF CURRENCY VALUATION…ASSETS ARE BARELY IN TOP 10 DETERMINANTS…WE SHOULD BE LOOKING AT INFLATION…INTEREST RATES…CURRENT ACCOUNT DEFICITS (TRADE BALANCE)… PUBLIC DEBT…TERMS OF TRADE BALANCE OF PAYMENTS…AND POLITICAL STABILITY & ECONOMIC PERFORMANCE
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rcookie (Dinar Guru) – Article: “Urgent: Cabinet vote on the 2017 budget” Quote: “Cabinet voted Tuesday 2017..itba the draft budget law.” SO…CABINET HAS VOTED ON 2017 BUDGET AFTER AMENDMENTS…
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DU NEWS RECAP by RCookie
(from) TUESDAY AUGUST 30th, 2016
SECURITY
ABADI, BARZANI & JABOURI MEET TO DISCUSS SECURITY STATUS & OPERATIONS IN MOSUL AND OIL DEAL…ABADI GOV’T COMMITS TO $800 MONTHLY SALARY TO TURKISH ARMED KURDISTAN WORKERS PARTY PKK PESHMERGA SOLDIERS FIGHTING ISIS WHERE SOLDIERS RECEIVE HALF AND PARTY THE OTHER HALF…JOINT COMMAND CONFIRMS KILLING OF MORE THAN 1700 ISIS ELEMENTS IN SOUTHERN MOSUL AND QARRAYAH ARAES SINCE BEGINNING OF CLEANSING OPERATIONS…JABOURI MEETS WITH EU LEADERS TO DISCUSS RETURN OF DISPLACED AFTER MOSUL OPERATIONS…ABADI ISSUES STATEMENT THAT THERE ARE NO FIGHTERS ON IRAQI GROUND FIGHTING ISIS OTHER THAN IRAQI SOLDIERS…TOTAL COUNT OF ISIS MASS GRAVES LEFT BEHIND IN IRAQ & SYRIA AT 72 CONTAINING UP TO 15,000 BODIES… INTERIOR MINISTRY ISSUES OF STATEMENT OF FEDERAL SUPPORT FOR POLICE AND RAPID RESPONSE DEPARTMENTS…ISF AIRSTRIKES KILL DOZENS OF ISIS ELEMENTS IN TAL AFAR NINEVEH PROVINCE INCLUDING INSTRUMENTAL LEADERS…SENIOR ISIS LEADER & SPOKESMAN ADNANI KILLED BY COALITION FORCES BOMBING TODAY IN ALEPPO…ABADI IDENTIFIES REASONS FOR FALLUJAH LIBERATION DELAYS WERE THE USE OF CITIZENS AS HUMAN SHIELDS & INT’L & REGIONAL PRESSURES DELAYED MILITARY & FINANCIAL SUPPORT FOR DISPLACES AND POLITICAL BLOC DIFFERENCES ON ANTI PARTIES START OF LIBERATION…US TRAING ISF “SPECIAL FORCES” UNIT IN NORTHERN BAGHDAD CAMP TAJI 62 DAY TRAINING PROGRAM…
Read More: http://www.dinarupdates.com/blog/
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SteveI (Dinar Guru) – …they will change the value on their terms and timeline, so just let it come to you, and it will.
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rcookie (Dinar Guru) – Article: “Urgent: the capture of the private financial officer to “Khaled al-Obeidi” Quote: “Issued judiciary on Tuesday ordered the arrest of chief financial officer of the former defense minister.” …[THEY] ARE FALLING LIKE DOMINOES…335 CORRUPTION CASES RETURNING 335 MILLION IQD TO STATE TREASURY…IN JULY ALONE!
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BGG (Dinar Guru) – [Kurdistan wants to secede and Obeidi said OK, whats up with that?] Obeidi is gone…He carries no weight – whatsoever…However, Abadi – on the other hand, may “project” he is OK with that (for now)… but I don’t see it. The Kurds don’t have the money or ability. They know it. They are just pushing for whatever they can get…maybe they are after some territorial concessions… threaten to leave… stay if they get some additional territories… or get some solid hold on what should have been theirs all along…one way or the other – they will stay.
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Iraqi Dinar/Dollar auction (most recent listing) 08-30-16
Currency Auctions Announcement No. 3271
This daily currency auction was held in the Central Bank of Iraq on the 08-30-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 133,757,550 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 133,757,550 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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BGG (Dinar Guru) – [How long do you think they need before the change the value of dinar.] they are moving FAST… things look good.
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tman23 (Dinar Guru) – The last comment from the CBI regarding the 2013 IQD series was that the new 50,000 note “COMPLETED” the 2013 series… The question now is… Does the CBI have a 2016 series ready that include the 3 zeros on the notes…or do they have lower denominations printed… The liberation of Mosul could be the event that lifts off the announcement of currency reform implementation as a security measure to ISIS and the theft of IQD etc… BUT that does not exclude the possibility that Iraq could make the announcement tomorrow or the next day… [post 2 of 2]
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tman23 (Dinar Guru) – Direct words from the CBI to the GOI in several meetings…There will be no currency reform until all provinces are under government control…it was printed in ink in news articles... That being said, the liberation of Mosul is expected to take place end of September early October. Ernest and Young are expected to be finishing up with the 2 state banks mid October to end of October…Shabibi had said that the lifting of the zeros must begin at the start of the New Year and not in the middle of a quarter or middle of the year… [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – [what do you think is going to happen zebari this week…him being removed…will cause a problem for investment?] No – I don’t think so… the financial side of this appears to be moving “FULL STEAM AHEAD”…
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Mnt Goat (Dinar Guru) – Article: The national coalition led by Iyad Allawi confirmed on Monday (22 August 2016), the dollar exchange rate in the domestic market management is a “window of thieves and corrupt”…and he expressed concern regarding the determination to continue the auction currency policy despite the warnings and recommendations of experts, called for the inclusion of the Central Bank reforms approved by the House of Representatives. Folks Allawi is calling for the implementation of the currency reforms including the project to delete the zeros and to get out of a “closed economy” and thus stop the need to convert dinars to USD to pay debts. This is a recent article and so we can see the pressure continues for currency reform.
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BGG (Dinar Guru) – “The World Bank expressed its readiness to support the Iraqi government financial funding without conditions in order to support its reform program which was approved by the House of Representatives …” “it’s reform program...” – already approved by the HoR? what are they talking about? [Looks like they know what we don’t.] that’s exactly what it looks like…and in light of the MoP “printed plan” from 2012/2013…looks like “back to Plan A”…BTW – MoP (Iraq Ministry of Planning) “printed plan” from 2012/2013 = IQD worth 1.13 USD for approx. 3 years…
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Reports: secret negotiations conducted by the United Nations to resolve the Justice and Accountability Act
BAGHDAD – Iraq Press – August announced a senior political source in the National Alliance that secret negotiations conducted by the United Nations with the leaders of the main political blocs to end the dispute regarding the accountability and justice law in preparation for submission to parliament for a vote.
The source added, in a statement to the newspaper (life) that “the talks under the auspices of the United Nations office in Baghdad to end the dispute in some paragraphs of the Accountability Act, which faces strong opposition from a coalition of state law and the Sadrists and the Virtue Party and the Badr Organization, who consider that the law allows for the figures in the party Baath political participation. “…
Read More: http://www.dinarupdates.com/blog
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firefly (Dinar Guru) – Remember, their currency was NEVER devalued …it was shut off due to sanctions…At the request of the US and the UK.
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BGG (Dinar Guru) – …once they step across that “currency threshold” moving towards a “singular currency regime” – the logical solution is for the IQD to be “on par” with the USD (which they are currently using)…you do realize what I just said – RIGHT? the IQD is widely regarded as “GROSSLY UNDERVALUED”… by noted world economists… for them to move to a “single currency” there needs to be some parity once they do so…they can’t come right out and say what it is they really mean (or convey their true intentions)… but this is looking inevitable. [post 2 of 2]
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BGG (Dinar Guru) – I cannot see how anyone is actually following the financial details of this thing and not be thoroughly EXCITED about where we are (finally!)…One point that gets missed alot – they have signed deals and agreed to remove and adhere to a more “international standard” regarding their internal MCPs… (…”multi-currency practices”)… THIS IS HUGE… MCPs coming to an end…this is a big point in their whole “economic reform package” – it is a complete overhaul… MCPs and currency being only one point of the program…even until recently – they are still (or have been) operating under some odd MCPs. The WB and IMF doesn’t like it…they have agreed to change – are taking direct action and have taken on breath-taking reforms daily…it’s happening before our very eyes…and my final thought is this… [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing) 08-30-16
Currency Auctions Announcement No. 3270
This daily currency auction was held in the Central Bank of Iraq on the 08-30-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 30 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 125,837,738 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 125,837,738 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Phoenix3333 (Dinar Guru) – Article: “Iraq’s Credit Rating (B- / B) with a stable outlook (Standard & Poor)” Quote: “Set the credit rating agency Global Standard & Poor ‘s , on Saturday, its credit rating for Iraq when (B- / B) with a stable outlook. The experts say that this class is very close to the economic reality of Iraq under the circumstances witnessed by the decline in oil prices and the war on « Daesh »terrorist.”
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mike (Dinar Guru) – Article: “Economist: 2017 investment budget will not be implemented because of the magnitude of the deficit” Quote: “It is said that the Prime Minister Haider al-Abadi, said he was determined price of $ 35 per barrel of oil within the 2017 budget, noting that the 2017 budget suffers from a large deficit to a lack of oil imports, compared with a rise of employees and retirees salary cap.” This guy is spot on about the investment side of the budget, its a figment of imagination. If Iraq pumps 3.5 mbpd at $35 or $40 a barrel, that’s only $50 billion annually, that’s just enough for payroll. From what I’ve read, the IMF is trying to get rid of this kind of stuff but even with that, there’s nothing left for infrastructure or government owned enterprises, oil won’t cut it anymore.
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Breitling (Dinar Guru) – …Iraq has always stated they want to get down to a billion notes…the last report that I’ve seen they were at 4 billion notes. Since then they have gotten rid of the 50 dinar note. 80 to 85% of their currency is the 25K note. They are introducing the 50K note and the 100K note…they haven’t done it yet but if they do that is going to allow them to take a certain amount of 25k notes off the market and it’s going to reduce the note count even more. Pushing forward there is no bad new here. People are in panic mode cause it’s complete opposite of what they think. If you strictly go by the numbers the dinar is a phenomenal opportunity, it hasn’t changed. How many countries are out there saying they’re going to add value to their currency? There’s only one. Not only that but they created a checklist on exactly what they need to do to add value to their currency…they said eventually they were going to reduce the note count and they’ve hit every flip’n mark and people are still blind to it!
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Be sure to join the New Dinar Updates “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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rcookie (Dinar Guru) – Article: “Government Basra suffered projects in front of the World Bank for a loan to be implemented” Quote: “…for his part, the regional Director of the World Bank Farid Belhaj the projects that the World Bank has financed prejudice directly in the lives of citizens…” THE INT’L AGENCIES ACTING AS A DIRECT LENDING AGENT TO THE PROVINCES FOR DEVELOPMENT PROJECTS…WHICH FACILITATES THE TRANSFER OF POWERS FROM THE CENTRAL TO THE PROVINCES… CUTTING OUT THE CORRUPT MIDDLEMAN…AND IN THE END ASSURING THE FUNDING OF THESE CRITICAL INFRASTRUCTURE PROJECTS GETS TO SOURCE IT WAS INTENDED FOR…GREAT NEWS FOR THEM!
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rcookie (Dinar Guru) – PARLIAMENT VOTED ON DISSATISFACTION OF ZEBARI ANSWERS TO QUESTIONING AND GOING TO HOLD VOTE ON WITHDRAWAL OF CONFIDENCE NEXT WEEK….SIMILAR TO WHAT OBEIDI JUST WENT THROUGH…THE KURD DELEGATION OBJECTED TO THE MEETING AND A FISTFIGHT BETWEEN ATTORNEY HAITHAM JABOURI & KURD DELEGATES BROKE BEFORE THE KURDS WALKED OUT OF THE SESSION…PARLIAMENT SESSION LIFTED UNTIL MONDAY…
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firefly (Dinar Guru) – Vietnam announced on Bloomberg twice now that they are revaluing their currency! Now why would they announce that if their was no plans? I saw it with my own eyes. Kinda shocked me actually that they would make that announcement. I have no idea about the rate just the announcement…remember pre war their currency was valued at 2.22. [when did they announce this… recently?] Pretty much the same time Iraq started talking openly about it. Press Release: Vietnam: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Vietnam Quote: “A new government took office in 2016 with a commitment to reforms that, if implemented, would place Vietnam in a sound position to achieve its ambitious development goals.”
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Iraqi Dinar/Dollar auction (most recent listing) 08-29-16
Currency Auctions Announcement No. 3269
This daily currency auction was held in the Central Bank of Iraq on the 08-29-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 133,530,024 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 133,530,024 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Zaidi reveals a tendency to withdraw confidence from Zebari and put Abadi list of respondents” Quote: “The House of Representatives may interrogate the finance minister, Hoshyar Zebari, in its meeting…” LOOKS LIKE NOT EXACTLY HAPPY WITH ZEBARI ANSWERS AND VOTE OF WITHDRAWAL OF CONFIDENCE NEXT WEEK…
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Islandg1211 (Dinar Guru) – Why didn’t they RV by Mid-Year? That’s a good question which no one knows. What we do know is that when the IMF came up with their plan for Iraq last December, they had assumed that Abadi would get his technocrat government and the laws would be passed. Instead, there’s been a seven month delay with the GOI. Corruption is a top priority. That’s a political battle since everyone is corrupt. But, there is progress. The CBI isn’t going to RV until corruption got under control. In addition to getting all seven new Ministers voted in by the GOI, Abadi will next need to get proxy positions properly voted in. That includes the Governor of the CBI position. The First thing a country needs to do after war is RV. Mosul will be liberated in the next few months. The GOI just needs to pass a few more laws and approve a few more positions. The WB and the IMF are ready with loans to help Iraq through their double crises of ISIS and low oil prices. Basra is doing well economically. IMO, this time around when there is peace, Abadi will RV. The IMF historically prefers April to RV, or Fall. [post 2 of 2]
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Islandg1211 (Dinar Guru) – IMO, It was a failed policy to delay the RV last time they had peace and I don’t think they will delay again. When will the CBI RV? That question has been asked and answered over the years by both the former CBI Governor and Architect of the Monetary Reform, Dr. Shabibi, and by the proxy Maliki appointed governor Allek. They both said, “when the conditions are right. There needs to be stability and security.” Where are we at now with security and stability? Political Stability: After nothing but political conflict the entire 2016, GOI is finally making some progress. They approved five of Abadi’s choice of technocrats Ministers...His choice of Interior Minister is being discussed now, and the remaining two positions should go through within the next month. Corruption: Laws: The Amnesty Law was passed yesterday. This goes directly in dealing with corruption. Next week they are working on the Judicial Law. Prosecution: UN has stepped in to help with investigation and prosecution of corruption. [post 1 of 2….stay tuned]
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firefly (Dinar Guru) – IMO Vietnam is hot, hot hot. I read an article last week from there. If you took the word Vietnam out of the article, you would swear it was from Iraq…Using words…or phrases…like “private sector” “IMF”, “World Bank”. The announced they are Basel 2 compliant a few weeks ago.
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Standard & Poor’s sustains ratings on Iraq at ‘B-/B’
(IraqiNews.com) Baghdad – Standard and Poor’s financial services company has affirmed the ratings of Iraq at ‘B-/B’ with stable outlook.
S&P stated that the stable outlook incorporates expectation that the large budget and external deficits could be financed, and the conflict with ISIS will be contained.
Standard & Poor’s also predicted Iraq’s real GDP growth to fall below 2% in 2017-2019 due to the negative effects of fiscal consolidation and weak domestic demand.
RCookie: THIS IS THE NEWLY FAMOUS ARTICLE 14 FROM THE 2016 IMF MEMORANDUM ON ECONOMIC & FINANCIAL POLICIES..THAT WE DISCUSSED ON MOST RECENT CALL….
“14. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate. As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB Table 5), as recommended by a recent technical assistance mission of the IMF. As a second step, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for their clients’ legitimate travel expenses will be able to obtain the required amount above these limits on the basis of appropriate documentation. The CBI will make the public aware of such a policy by explaining it through a press conference and on its external website…”
RCookie: AMENDMENT OF INVESTMENT LAW……OR…..THE CBI WILL ISSUE CLARIFYING IMPLEMENTING REGULATIONS TO REMOVE THE LIMITATION ON TRANSFER OF INVESTMENT PROCEEDS THAT GIVES RISE TO AN EXCHANGE RESTRICTION..AS RECOMMENDED UNDER RECENT IMF TA REVIEW…
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rcookie (Dinar Guru) – Article: “Transportation signed a contract with a French company for the transfer of cement” … GENERAL TRANSPORT COMPANY SIGNING BIGGEST CONTRACT IN THE COMPANIES HISTORY WITH FRENCH COMPANY LAFARGE … HMMMMM…IN TODAYS NEWS ALONE…GERMANY…JAPAN WITH TOYOTA…THE FRENCH WITH LAFARGE…KOREA AND US WITH THE NEW 15.5 SQ MILE CITY IN ANBAR…KUWAIT & UAE IN TH NEW KARBALA CITY…THE UK AND IBBC CUED UP IN BASRA AND KURDISTAN… WOW… SURE WOULD BE NICE IF IRAQ COULD GET SOME SIGNS OF CONFIDENCE FROM THE INTERNATIONAL INVESTMENT COMMUNITY… [ 🙂 ]
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firefly (Dinar Guru) – …expect a lot of announcements! BIG ones. It has already begun. We are watching the reforms take place before our very eyes.
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Breitling (Dinar Guru) – Getting questions about the 100K and 50K dinar notes…are they going in the wrong direction and will this delay the RV? No it will not. The CBI has said they are going to reduce the note count. They are going to introduce new notes even notes that are worth a tenth of a penny likes yours and mine, the 50K note , the 100K but eventually they are going to introduce the lower notes and these will commingle and both will gain value for about a two year period…and that is what the CBI has said…the 100K notes and the 50K notes is about reducing the note count…This is a not a threat…this is a good thing, a very good thing for us. …Instead of four 25K notes they only need one 100K note. That’s going to help them later on down the road…There is no reason AT ALL to introduce the 50K or 100k note if they are not going to revalue the currency and add value to it.
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Frank26 (Dinar Guru) – IMO …NO country is as advanced or best prepared to do an RI into an RV of their MR… Than Iraq. At this present TIME FRAMED … The USA/IMF has ONLY one girl at the Prom right now … Iraq. There are more Prom’s … Coming.
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Iraqi Dinar/Dollar auction (most recent listing) 08-28-16
Currency Auctions Announcement No. 3268
This daily currency auction was held in the Central Bank of Iraq on the 08-28-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 130,888,027 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 130,888,027 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Start counting the votes to withdraw confidence from the Secretary of Defense, or lack thereof Obeidi in questioning session” Quote: “Parliament has been made to withdraw confidence from the Minister of Defense secret ballot.” OBEIDI IS GONE!
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SteveI (Dinar Guru) – Article: “Iraq parliament impeaches defence minister” Quote: “Obeidi lost a no confidence vote by 142 votes to 102 in a secret ballot…” Great job boys. Keep the corruption out of government.
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rcookie (Dinar Guru) – Article: “Documentation” general amnesty law passed by the Iraqi parliament today” PUT THIS ONE IN A GOLD FRAME! Article: “Jubouri: Parliament pasts passage of important legislation and wait for Justice and Accountability Act” WOW!!…SCHEDULED FOR TUESDAY 30TH…BUT THEY ARE WORKING ON VERBIAGE OF CONTENTIOUS ARTICLE WITHIN THE LAW…JUST LIKE GEN AMNESTY… THIS IS GOOD! JUST WHAT THE IMF ORDERED…THIS IS GETTING REALLY INTERESTING!
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Iraqi Dinar/Dollar auction (most recent listing) 08-25-16
Currency Auctions Announcement No. 3267
This daily currency auction was held in the Central Bank of Iraq on the 08-25-2016
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$) | 136,030,555 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 136,030,555 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Mountainman (Dinar Guru) – TIME is RUNNING OUT…The OLD PLAY BOOK will NO LONGER Hold It’s TRADITIONAL Weights and Measures So to Speak…and the MARKETS are ACUTELY AWARE to the COMING Changes, they Just haven’t Figured Out {ALL} the DETAILS YET…However, like EVERYTHING Else in this WORLD…TIMING Will MANIFEST that Which is HIDDEN and {ALL} Will Come to Light, at The SPEED of LIGHT…Thru TECHNOLOGY and CYBERSPACE via the IEX and CIPS. THE GLOBAL STAMPEDE and The MARKETS will…shall We Say, Have A CHAIN REACTION that Will ENSUE…INDEED IMO.
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Frank26 (Dinar Guru) – I see Mosul being given to you bit by bit…counterfeiting coming to an end and being dealt with…and all the systems they are putting up and all the agencies that are there…there is a lot of policing going on…and this is what we need…the corruption has got to stop in order for them to give you Mosul…in order for them to give you the MR…and and I see the 2017 budget…they are going to have it in mid-September…I see the CBI working with banks…I see companies that are coming in…I see a lot of things that are very good. …they are going to come out with a 100,000 note…It is for banking business and they even made it very clear that is what it was for…these higher notes will eventually become a part of the electronic digital system that Iraq is going into… This is their plan…the plan that was derived in December with the IMF and Iraq along with Dr. Shabibi and Abadi…and we basically said at that time the US which is basically the IMF took Iraq by the ear and said…we are going to throw you into the international world in the first half and in the second half it is up to you to raise your value and that is where we are at right now…
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rcookie (Dinar Guru) – Article: “Iraq’s parliament approved a general amnesty law and the president wed human people” BOULYAAH! THEY 1ST HAD A VOTE SEPARATELY ON THE CONTENTIOUS ARTICLE 4..AND 8…BROKE FOR A HALF HOUR AFTER MEETINGS WITH BLOCS…THEN CAME BACK TO VOTE ON LAW FULLY…AND…THE VOTE ON OBEIDI’S WITHDRAWAL OF CONFIDENCE BEING DONE IN SECRET BALLOT SESSION….AND THEN HES GOT ZEBARI WAITING TO BE QUESTIONED…
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DU NEWS RECAP by RCookie
(from) THURSDAY AUGUST 25th, 2016
SECURITY
JOINT OPERATIONS CONFIRM FULLY EDITED QARRAYAH AND IRAQI FLAG RAISED OVER THE BUILDINGS…INTERNATIONAL COALITION CONDUCTS 14 SORTIES ON ISIS IN IRAQ & SYRIA…36 ISIS ELEMENTS KILLED ON IRAQI AIRWAYS RAID AND ISIS POLICE HEADQUARTERS DESTRUCTION IN MOSUL…ABADI & SYRIAN FOREIGN MINISTER MEET TO DISCUSS SECURING THE BORDER BETWEEN THE 2 COUNTRIES…ISF ANNOUNCES KILLING OF AL-BAGHDADI AIDE ABU HAMZA UZBEK…ISF JOINT COMMAND ANNOUNCE 1300 ISIS ELEMENTS HAVE BEEN KILLED IN KHALIDIYAH ISLAND SINCE BEGINNING OF OPERATION…IRAQ RECEIVES SECOND DELIVERY OF CZECH L-159 FIGHTER AIRCRAFT SINCE NOV 2015 TO BALSD AIRBASE NORTH OF BAGHDAD WITH 31 IRAQI PILOTS TRAINING FOR THE 15 TOTAL AIRCRAFT THAT WILL MAKE UP THE FLEET…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Iraq: next year’s budget deficit of $ 18 billion” Quote: “Financial adviser to Iraqi Prime Minister, on Wednesday, announced the end of the Ministry of Finance of the preparation of the 2017 budget, worth more than 100 trillion Iraqi dinars; about $ 82 billion, depending on the calculation of the price per barrel to $ 35.” SO…AGAIN… SALEH STATING OTHER THAN BEING DEEMED A TRANSITION FROM “WAR ECONOMY TO PEACE ECONOMY”…2017 BUDGET SAME AS 2016 BUDGET…AROUND 100 TRILLION IQD ($82 BILLION)…OIL CALCULATED AT $35 @ 3.6 MBPD…WITH DEFICIT OF 24 TRILLION IQD ($18 BILLION) AND DELIVERED TO PARLIAMENT BY SEPT 10TH...
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Mnt Goat (Dinar Guru) – Iraq is on the right path and I could hardly believe my eyes when I finally heard the news of the passing of the Amnesty law. Yes – this law did finally pass in parliament today 8/25. This law is going to make a HUGE, HUGE difference in Iraq. So next we need to see the Accountability and Justice law, combined along with the Amnesty law these two laws work together to bring the needed justice to Iraq. Also with the new technocratic minister of energy just appointed, he has told us already there is no need for any delay in getting an energy law (HCL) for Iraq as it is now written and only needs to be presented to parliament for a vote. So we should watch for this law too in the coming days…We are now in the third phase of Abadi’s reform plan and many amazing changes have since happened in Iraq. This all moves Iraq to working in an international platform, the only way they will EVER revalue their currency. …your investment in the Iraqi dinar is real and will soon be exchanged at a higher rate (at a substantial higher rate). Yes – Iraq has postponed the RV many times already and this is real!
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Stryker (Dinar Guru) – I am heartbroken to announce that we have lost yet another dinar member and one of the leaders in the facts concerning the Iraqi dinar, BondLady has passed away unexpectedly. We have lost one of our most respected leaders in the research of real facts in our journey. It was unfortunate that Bondlady and I had a falling out but I never lost my respect in the fact that she was dedicated in trying to uncover the facts for her members. May she watch the rest of the Iraq dinar future from the heavens and help our Lord lead others as one of his angels as she did here on earth. RIP dear angel we will all miss you…
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