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 | 1302.800 | 1302.149 |
| British pound | GBP | 1470.408 | 1469.673 |
| Canadian dollar | CAD | 881.563 | 881.122 |
| Swiss franc | CHF | 1215.674 | 1215.066 |
| Swedish krona | SEK | 131.643 | 131.578 |
| Norwegian krone | NOK | 142.862 | 142.791 |
| Danish krone | DKK | 175.067 | 174.979 |
| Japanese yen | JPY | 11.600 | 11.594 |
| Special Drawing Rights |
SDR | 1635.072 | 1634.255 |
Indicative rates – 11.11.2016
http://www.cbi.iq/
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And to all Veterans – THANK YOU!!
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*** Current News ***
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Delta (Dinar Guru) – Late Thursday Night…JUST IN FROM IRAQI TV: CBI BEGINS THE PROCESS of deleting zeros…CODE RED…
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Breitling (Dinar Guru) – When I read this [article] it was a remarkable piece. It basically confirms what I’ve been telling everybody…that they have been pumping in U.S. Dollars to keep the value of the dinar low and that they are going to stop and that is what the articles coming out are about. There’s a radical change today. You know why? It’s because they are reducing the dollar. They’ve already reduced the note count. How much more do they need to go? I don’t know. But it doesn’t matter for us…for you and me they can start adding value. Remember to get to a billion notes is for $3.25 so we have all that wiggle room below $3.25 to $1.17 and on down below that.
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The central bank begins its first steps to delete the three zeroes from the currency
The governor of the Iraqi Central Bank, said the bank began to develop the first steps of the project to delete the three zeroes from the Iraqi currency.
Between the Keywords in a statement that the aim of the deletion of three zeros is to support the Iraqi dinar, and make it a competitor to foreign currencies, pointing out that this project is strategic It will serve as the country ‘s economy, as the dinar will be included in the global basket of currencies in the vital exchanges. He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017.
He pointed out that the Keywords introduction of the new currency does not mean the destruction of ancient coins, but will continue to trade for about 10 years.
Courtesy of RCookie
Read More: http://www.dinarupdates.com/showthread.php?43559-The-central-bank-begins-its-first-steps-to-delete-the-three-zeroes-RCookie
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Frank26 (Dinar Guru) – …they are in the last final stages of collecting the 000’s…they need to hit a certain percentage point of their currency of their M1, M2, M3 figures…in order for them to raise the value of their currency in 2016…they need to be accounted for. The project to lift the 000’s is old news…it has been going on for a long time…for years…but IMO this is…the end of this project…increase the value of your currency once you know these numbers and then introduce the LD’s at the beginning of 2017. I’m excited that their Monetary Reform is in an RI right now in 2016…and in order for them to accomplish what articles…are telling us in 2017 can only be done if they raise the value of their currency... [post 2 of 2]
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Frank26 (Dinar Guru) – IMO they are down to the wire in collecting the 000’s…IMO the CBI is looking for a specific amount to get into their inventory numbers…they know how many dinars they printed…they know how many dinars were stolen…they know how many dinars were counterfeited…they know how many dinars were blown up…but they don’t know how many dinars were hidden by the citizens…they need to know exactly what is out there with the citizens… and the CBI is doing a seminar with the heads of Iraq to teach them the difference between counterfeit currency and real currency…the citizens know what is going on…and I believe the citizens are going to bring in their dinars…they need to know about their M1, M2, M3, M0 figures…before they can add value to their currency…that would help them to determine what value they want…this is all part of the MR… [post 1 of 2….stay tuned]
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rcookie (Dinar Guru) – Article: “Central Bank attempts to reopen the subfolder Arbil with new look” Quote: “…the Central Bank Governor on the relationship during his visit to Kurdistan region about two weeks ago and met with leaders of political and financial territory and agree to open a subsidiary Bank but a new suit“. SO…AS WE SEE THE CBI ERBIL CBI ANNEX WAS CLOSED FOR 3 YEARS…AND IS NOW REOPENING …
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Frank26 (Dinar Guru) – IMO…they are going about the MR and the reinstatement of their currency to add value to their currency in 2016 in order to be ready for 2017…the budget…and introducing the LD’s…and the coins… because this is what the IMF has told them…this is their agreement…and this is what they have been doing…the board of directors of the IMF have IMO given them permission to receive this second loan because they have read everything that was presented to them…IMO...the CBI has to raise the value in 2016 in order for 2017 to have any reality…you cannot implement the project of lifting the value of your currency by lifting the 000’s of the IQD without increasing the value first…
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SteveI (Dinar Guru) – […if the project begins in 2017, does the RV happen at the time it begins or after?] My understanding is that they will change the value of the IQD prior to introducing the new lower bills. Think about it, if you kept the rate the same why in the world would someone turn in one 25,000 note and now have to carry 1000 notes and end up with the same value.
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Hub (Dinar Guru) – Article: “CENTRAL BANK: THE DELETION OF ZEROS IN EARLY 2017“ Quote: “The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.” …a thought, they are about to change the value of a 25,000 note from $22 to maybe $75,000, why would they say we are going to do this is 2017 so every tom, dick and harry can go buy some more…i think it is a ploy and i would not be surprised to see it much quicker… […since the CBI indicating the dropping of the 3 zeros in early 2017, does that mean that based on this article we wouldn’t see a change until then or would they have to begin the rate change part of the process sooner…?] in my own humble opinion, i think they would have to implement the change before dropping the zeros which is really bring out lower denoms and getting the big notes off the street.
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The Central bank refuses to bury the money and calls on citizens to acquire government bonds
Alsumaria News / Baghdad – Rejected the central bank, on Wednesday, “bury” the money underground, while calling on citizens to purchase government bonds.
The bank said in a statement received Alsumaria News , a copy of which was “noted the increasing incidence of the audience to revisit replace buried currency very large amounts . ” noting that “this process is a negative indicator of the lack of interest in the national currency.” the bank , “he said the national currency was buried lead to harm deliberately national currency and carries extra Colva,” adding that “currency is a symbol of national sovereignty and symbols.”…
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article quote: “Chief financial officer at the US Embassy in Iraq, John Sullivan has praised the efforts of Iraq in the reform of the central bank, which confirmed that the bank «completed within a year more than what has been accomplished in the past 13 years.” …WHICH IS WHY THE CBI IS GETTING RAVE REVIEWS FROM IMF AND UST...AND THE TRANSPARENT CRITIQUE FROM POLITICAL AND MEDIA SOURCES SO TRANSPARENT AND SUSPECT… …CBI REFORMING BANKING SECTOR…AND THE UST AND IMF LAUDING THEIR RESULTS WITH CLAIMS THAT THEY HAVE DONE MORE IN THE LAST YEAR…THAN THE PAST 13 YEARS COMBINED…THIS IS CRITICALLY IMPORTANT STUFF…
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rcookie (Dinar Guru) – Article: “The central bank re – opening of branches in Arbil, Sulaymaniyah and linked officially” SO IN ADDITION TO OPENING NEW CBI BRANCH IN NAJAF FOR MIDDLE EUPHRATES REGION… HERE THEY ARE ANNOUNCING THE RE-OPENING OF ERBIL AND SULAYMANIYAH BRANCHES AND OFFICIAL RE-LINKING WITH ALL BRANCHES… [It almost like they are getting ready for something.] YES THEY ARE…AGREED…AND THE UST RIGHT THERE TO MAKE SURE THE I’S ARE DOTTED…T’S CROSSED…
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rcookie (Dinar Guru) – Article: “Masum planning calls for a general census of population” ANYONE KNOW WHY…A GENERAL CENSUS IS SO IMPORTANT…ANYONE KNOW HOW TO SPELL HCL…TO HEAR MASUM ACTUALLY CALLING FOR GENERAL CENSUS…WOW!
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Magda Tamimi: Rethinking the fiscal policy has become inevitable
BAGHDAD /tomorrow Press – Confirmed the parliamentary finance committee member Majda al-Tamimi, said Tuesday that re-examine the fiscal policy in the country has become inevitable, stressing that it is necessary to diversify the revenue until the economy not be subject to fluctuations in world oil prices and policy affecting the oil market.
She said Tamimi in an interview for “tomorrow’s Press,” that “the general budget still depends largely on the oil revenues, which amounted to about 86%not to mention the absence of other sectors and have yet to find those considering or actual steps of the previous governments and the current to change this approach, it is imperative to restore public finance policy and provide what is more worthy to work with and this is it inevitable to provide subject for discussion”…
More: http://dinarupdates.com/blog/
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mike (Dinar Guru) – Article VIII is the key, they won’t be able to reduce the money supply and create demand unless the currency is internationally recognized, if they just jump off the peg now I’m concerned that the dinar will drop significantly in value. It will marry up the market and official rates, but at extreme cost to the citizens by increasing inflation and reducing purchasing power. So, if they start the process in 2017, when will they accept Article VIII? We know the MCP has to hold for at least 90 days at 2% or less so that puts us roughly in April or May, at the very earliest. Then they accept Article VIII and begin to rebuild the economy and the currency and the dinar slowly begins to appreciate while the money supply decreases, I’m wondering how long that would take? By all estimates, the Iraqi’s are talking about a two year process once it’s begun, so for me, this puts it out a good bit. I guess the good news is that they’ll actually begin the process in 2017…
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rcookie (Dinar Guru) – SOMEONE ASKED ABOUT WTO ACCESSION PROGRESS AND STATUS… THEY ARE PREPARING A SPECIALIZED LEGAL TEAM TO DEFEND IRAQS FINANCIAL, ECONOMIC AND INVESTMENT RIGHTS INTERESTS IN LAWSUITS WHOSE COSTS CAN WEIGH HEAVILY AGAINST BUDGET AND WILL MINIMIZE SPENDING ON INT’L LAW FIRMS THAT IRAQI IS CURRENTLY SPENDING… ESTABLISHMENT OF ARAB UNION OF INTERNATIONAL ARBITRATION HEADQUARTERS IN BAGHDAD…A SPECIALIZED LEGAL TEAM TO REPRESENT IRAQS INTERESTS ON INTERNATIONAL TRADE AND BUSINESS… THINK ABOUT THIS RELATIVE TO ONE OF THE BIGGEST ISSUES INVOLVED WITH WTO ACCESSION…CONFLICT AND DISPUTE RESOLUTION BETWEEN TRADE NATIONS…AND IS OFFICIALLY REGISTERED WITH THE UNITED NATIONS…ANYONE NOT SEE THE POWER AND SIGNIFICANCE OF THIS MOVE TO THE INTERNATIONAL INVESTMENT COMMUNITY… AND WTO AND IMF….
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Enorrste (Dinar Guru) – Article: “Central Bank: the deletion of zeros in early 2017″ The following quote adds some fuel to our story: “this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market.” We see from this…that this precludes any LOP discussion. But more importantly there are the words “dynamics and mechanics” which clearly make this an ongoing process rather than an event. The key is the last phrase referencing maintaining the liquidity in the market. What makes this a particularly challenging process is that they are going to be reducing the money supply, which would normally reduce liquidity, but will be doing so only as the VALUE of the dinar rises, which will offset the reduction in liquidity. I can understand why they have been hesitant to begin the process. It hasn’t ever been done before, that I am aware of. Usually a currency loses value due to inflation. In this case, however, the expectation is that it will gain in value. What they cannot afford is to have 50 trillion dinars out there if the value skyrockets upward. So I understand there caution.
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Iraqi Dinar/Dollar auction 11-10-16 (most recent listing)
Currency Auctions Announcement No. 3316
This daily currency auction was held in the Central Bank of Iraq on the 11-10-2016
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$) | 148,551,279 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,551,279 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – Are we at the end of the road of the MR? I tried to tell you…that there is a Transitional Rate with the IQD. Prior to that we had talked about the RI (Reinstatement) – which there are many steps inside of it, not just one. All steps have to come to a conclusion…a closure. One of those steps is the take the IQD and to start using it Internationally…(Article 8)…with or without them telling you about it. …articles start to appear…1, 2, 3…then 4…and now 5. All coming from the CBI…all talking about lifting the 3 zeros. IMO – there are agencies with the authority to do private things with the government of Iraq – with their currency…at a rate that we cannot see. Every bank in Iraq has the word INTERNATIONAL plastered on their lapel.
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Breitling (Dinar Guru) – Question: [The CBI says they’re raising the dinar against the dollar but I really don’t understand the wording…are they allowing it to float?] Up until a $1.17 it’s going to be a dirty float. These guys are manipulating everything…again what are they using? There using the US dollar to pin against the dinar. They’re using the volume of dinar that are out there. And they’re using the auction floor…throwing the word float out there I don’t think it’s proper. But once they start staging it there will be more and more and more of a float. There will be more of a market driven value. That’s why they’re staging it like that. The CBI is hell bent…they are telling everybody. There are articles that came out [that I want to get more info on them…where they came from…what events were they talking at] but they are remarkable articles about the value of the dinar changing. But it’s no secret. Even without that information those type of articles coming out if you can’t see it coming you’re just not looking hard enough…
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BGG (Dinar Guru) – [So what is your take on this latest “Upgrading of the Iraqi Currency” rash of articles?] …even though this is likely a “second circle” commenter…it sure is nice to hear someone in that sphere talking (affirmation) along these lines… AND this isn’t “confirming” anything HAS happened… but still adds another log on the “fire” – so to speak…and this speaks to the very heart of the matter for many people… “IS THIS REAL“? …after all this FBI intervention… had this NOT BEEN REAL – there is NO DOUBT they would have been able to attack the veracity of this – as an investment around that time. AND…I (even for myself) go back to the FUNDAMENTAL DOCUMENTS as my “proofs” for my thesis… The SIGR Report…The LOI’s…All of the IMF Documents. The EVIDENCE MOUNTS DAILY. “Affirmation”…
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Central publishes a schedule prices, gold bullion and coins, and confirms that the latest unavailable
The deployment of the Iraqi Central Bank, on Wednesday, a schedule prices gold bullion and coins for the current week, as he pointed out that the coins are currently unavailable.
Bank and publish a schedule of prices of gold bullion and coins for the current week Alsumaria News received a copy of it, and the table that the specie 15 g and which normally retails for 751 thousand dinars unavailable while the price minted reached 22 carat g 1.099 million dinars and referred to it is currently unavailable…
More: http://dinarupdates.com/blog/
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Enorrste (Dinar Guru) – The CBI will begin destroying the large notes, thus reducing the money supply, and this will put upward pressure on the value of the currency, irrespective of Article VIII. If they also accept the Article VIII conditions, which I believe is the stated goal of the IMF, then the process could move along much faster. Trade would improve in Iraq, thus allowing more money to come into the country, relieving the liquidity crisis somewhat, and this would allow the CBI to begin reducing the money supply. They are clearly on record that they want the money supply to be brought down to 40 billion dinars. They just have to have a mechanism to make this happen without too much of a jolt internally. And, of course, they have to START. I believe the article is saying that they have made a determination that the start will happen in early 2017. [post 2 of 2]
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Enorrste (Dinar Guru) – Article: “Learn the benefits of removing zeros from the Iraqi currency ” I tend to agree that entry into Article VIII is a necessary prerequisite. I doubt any serious investors in dinars would play in the dinar market without some form of level playing field that is offered through Article VIII. The market spread situation can be corrected by floating the currency. An announcement that the currency would be allowed to float would automatically make the official rate and the street rate identical. Furthermore, the plan is clearly stated to reduce the money supply from 50 trillion dinars to 40 billion dinars. They just haven’t started the process yet. It is my take that the article …is saying that this process will begin in early 2017.
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BGG (Dinar Guru) – Article: “Central bank governor for “tomorrow Press”: aspire to get foreign Sndhatna international guarantees” Quote: “…The governor of the Iraqi Central Bank on the Keywords, on Sunday, that the bank is trying to get international guarantees for foreign bonds…” One would have to assume this is a foregone conclusion…all of this IMF support is about “international acceptance”.
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KEYWORDS: BANKS CURRENTLY CLASSIFIED ACCORDING TO THE INTERNATIONAL CLASSIFICATION SOON
Governor of the Central Bank on the Keywords revealed that the central bank will announce the names of the banks in accordance with international rating by one of the world Rating companies that are working on the evaluation of these banks.
A statement issued by the media office of the bank on Wednesday received Iraqi Transmission Network (IBN) that it came in his answers through questions directed to him at a seminar hosted by Two Rivers Center for dialogue on monetary policy in Iraq that have been identified valuable three axes currency loans and developmental stages of the Central consultations window with the monetary fund on the facilities and external lending…
More: http://dinarupdates.com/blog/
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BGG (Dinar Guru) – …the auctions have been a conduit of funds being used for nefarious purposes. [THEY ARE SHEDDING LIGHT ON THE 2ND SIDE OF THE WAR ON TERRORISM WHICH IS THE FINANCIAL AND ECONOMIC SIDE WHICH SUPPORTS THE TERRORISTIC ACTIVITIES…] They have been likely waging this side of the conflict for longer, with greater veracity than anyone is aware of…Mosul is getting all the headlines – but the financial side has been “fast and furious” for sometime now…Huge steps forward allowing the UST offices IN THE CBI.
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Enorrste (Dinar Guru) – Finally, the statement is made that the dinar will takes its place in a “basket of currencies” that contribute to the “vital world exchanges.” At present the only currencies that hold this sort of recognition are the dollar, Canadian and Australian dollar, pound, euro, and a few others. By making this bold statement, therefore, the author is re-iterating what we found from Saleh years ago namely that the dinar is going to become a world reserve currency. The only way in which the dinar can take this position is if it is internationally recognized, if Iraq is a part of Article VIII of the IMF Charter, if the value of the dinar is commensurate with that of the world’s reserve currencys (worth about a dollar American, more or less), and is supported by reserves that PROVE that it is a strong currency. The current reserves of $40 billion are sufficient to make the currency the strongest in the world at $1 per dinar. Unlike the US, they won’t need “the full faith and credit of Iraq” to support their currency. However, in addition to the highest relative reserves, Iraq also has the second highest known reserves of underground wealth in the world. Therefore it is well positioned to take its place as a world reserve currency as long as they stick to the plan. The bottom line for me is that this article, even if it is repeating a plan elaborated over a year ago, is more specific and continues the timeline from that earlier article. 2017 would appear to be the year when this will all truly begin to move forward. Keep your fingers crossed! [post 3 of 3]
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Enorrste (Dinar Guru) – Kaperoni has rightly stated...that a minimum of $.10 for the value of the dinar would make it possible to begin removing the three zero notes. This means that we must look for a minimum of a 100 times increase in the value of the dinar sometime during the coming year. Second, the purpose is specifically stated to “support” the dinar and to make it a “competitor in world markets.” At this point the dinar is not internationally recognized or tradable. Both of these factors must be eliminated for point number 2 to come to fruition. The only way in which they can “support” the dinar (in terms of value) and make it “competitive” in the world markets is to allow it to float and to rise to the point where the “support” and “competitive” value become real factors. I therefore expect to see the float start shortly after the new year. Third, this move will “serve the Iraqi economy.” Clearly a move to a float and an internationally recognized currency will cause imports prices to fall quickly and allow for imports into Iraq more easily. This would, then, be consistent with point number 3 that the plan will “serve the Iraqi economy.” [post 2 of 3….stay tuned]
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Iraqi Dinar/Dollar auction 11-06-16 (most recent listing)
Currency Auctions Announcement No. 3312
This daily currency auction was held in the Central Bank of Iraq on the 11-06-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 33 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 147,044,275 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 147,044,275 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Enorrste (Dinar Guru) – Article: “Learn the benefits of removing zeros from the Iraqi currency” I think it is time to start getting excited, again. The first thing that I noticed in this article is the follow quite specific statement: “The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency“, returned him as “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges.” There are four things to note here: (1) the large notes wil begin tol be deleted “beginning in 2017”; (2) the purpose is to make the dinar stronger (note the word “support” and the phrase “competitor of foreign currency”; and (3) this will “serve the Iraqi economy”; and (4) the dinar will take its place in the basket of currencies in the “vital world exchanges.” Let’s look at these one at a time. [First] The large notes will be deleted. This cannot be a LOP because a LOP would not change the value of the dinar, and the other three points above make it clear that the dinar will rise in value. Therefore, there is only one way that the large notes can be removed from the market place without destroying the fragile liquidity that exists in Iraq already: the value must rise enough to make it feasible to remove the large notes. [post 1 of 3….stay tuned]
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rcookie (Dinar Guru) – THE FIGHT AND PROGRESS AGAINST CORRUPTION HAS BEEN ONGOING SINCE ABADI TOOK OFFICE….BUT THESE ARE INTENSE STEPS AND COOPERATION BY CBI AND WASHINGTON TO CONFRONT AND ADDRESS THE AUCTION BREACHES…WHILE SIMULTANEOUSLY SETTING UP THE NEW ANTI CORRUPTION AML ANTI TERRORISM DEPARTMENT WITHIN THE CBI TO BE COMPLIANT WITH IMF MANDATES…AWESOME PROGRESS… [post 2 of 2]
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rcookie (Dinar Guru) – Article: “Iraq and its allies and drying financing Daesh” Quote: “The Central Bank of Iraq and through close cooperation with the US side put a black list to prevent funds from reaching the territory controlled by Daesh, and has more than 150 companies today.” SO…HERE WE HAVE DETAILS ON THE US TREASURY INVOLVEMENT WITH CBI…TO MONITOR USD SHIPMENTS FOR THE 1ST TIME…TO PREVENT DELIVERY OF USD TO ILLICIT DESTINATIONS…AND DESCRIBES AS TURNING POINT OF FIXING THE FAILURE OF THE AUCTIONS…AND THROUGH CLOSE COOPERATION DEVELOPED THE “BLACKLIST” OF BANKS TOTALING 150 THAT ARE NOW EXEMPT FROM AUCTION ACTIVITY… [post 1 of 2….stay tuned]
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