Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.
Word for the day…
Mrs. BGG
Iraqi Dinar/Dollar auction (most recent listing) 09-17-16
Currency Auctions Announcement No. 3277
This daily currency auction was held in the Central Bank of Iraq on the 09-08-2016
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$) | 136,428,356 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 136,428,356 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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For every complex problem there is an answer that is clear, simple, and wrong. – H. L. Mencken
*** Current News ***
Central Bank: No category million dollars and we deal
Long-Presse / Baghdad – It said an informed source at the Central Bank of Iraq, on Wednesday, that there is no currency of one million dollars a category, and among that this currency is real and may be used to waddle or games, he stressed that a higher currency Bank deals with are a class of ($ 100).
The source said in an interview (Amdy Press), said that “the trading day in the Iraqi market and among the citizens of the existence of a class coin (one million dollars), is not true and there is no such a category,” he said, “that category may be for the purposes of Strutting ( gift), or used for the Games. ”
The source, who not to be named, said, “The Central Bank does not deal with that group, and that the highest category in the dollar coin is ($ 100), so the Central Bank does not deal with that category one million dollars because that does not exist.”
And circulation of citizens and the Iraqi market news for the currency of the category million people exchanged presence as part of a new currency will be worked out in the country.
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Enorrste (Dinar Guru) – Article: “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed” If these two major banks are now selling the dinar at 1200 per dollar what do you think will happen in the short term, especially since the street rate is 1290 per dollar? The answer is two-fold: first, this will put downward pressure on the street rate…to bring it in line with the official rate, or at least within 2% of that rate (a requirement of the IMF for entry into Article VIII); but secondly, and this has not yet been mentioned, the lower 1200 per dollar rate will quickly draw in large amounts of dinar from the mattresses of those who were frustrated because the street rate was so low compared to the official rate. This is the secondary but extremely important factor that will be necessary in order to move to a float. [post 1 of 3….stay tuned]
Read More: http://www.dinarupdates.com/observer/
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Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
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Enorrste (Dinar Guru) – As the dinars in mattresses are removed and sent to the CBI through these major banks they can be destroyed, thus allowing the CBI to reduce the money supply. Remember, they have to reduce it gradually as the value of the dinar rises. The reduction is enormous, from 40 trillion dinar to 40 billion dinar. This is a part of the mechanism that will make this possible. If the dinar in mattresses do not come out then the float cannot begin or, if it does begin, there will not be enough upward pressure to raise its value UNTIL the mattress money is removed. Thus this move by these two major banks (initiated by the IMF) will help to kick-start that removal process. [post 2 of 3….stay tuned]
Read More: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – Article: “Parliamentary Finance calls to control the rate of the dinar against the dollar” I will say it again…Balassa-Samuelson effect. Once they accept Article VIII (they have to stabilize the exchange rate, spread and meet other conditions first), they then will float the dinar to counter inflationary pressure created by the influx of investment and investors. This will cause the dinar to appreciate in value. It will not happen overnight, but it will happen gradually. With the introduction of the 50, 100, 200 planned for early 2017, we can hope that the dinar will be worth .10 cents by then.
Read More: http://www.dinarupdates.com/observer/
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IRAQ
STAFF-MONITORED PROGRAM—PRESS RELEASE; AND
STAFF REPORT
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THIS REPORT WAS SENT TO CONGRESS in MAY 2012. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.
This report is from page 84 of the massive SIGR report.
BGG ~ This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…
1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.
2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.
3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.
I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.
4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″…
Read More: http://www.dinarupdates.com/
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http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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IRAQ
FIRST AND SECOND REVIEWS OF THE STAFF-MONITORED PROGRAM AND REQUEST FOR A THREE-YEAR STAND-BY ARRANGEMENT—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1328.213 | 1327.549 |
| British pound | GBP | 1581.634 | 1580.843 |
| Canadian dollar | CAD | 916.634 | 916.176 |
| Swiss franc | CHF | 1220.570 | 1219.960 |
| Swedish krona | SEK | 139.657 | 139.587 |
| Norwegian krone | NOK | 144.460 | 144.388 |
| Danish krone | DKK | 178.426 | 178.337 |
| Japanese yen | JPY | 11.651 | 11.645 |
| Special Drawing Rights |
SDR | 1658.819 | 1657.989 |