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
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1333.178 | 1332.511 |
| British pound | GBP | 1711.772 | 1710.917 |
| Canadian dollar | CAD | 914.295 | 913.837 |
| Swiss franc | CHF | 1201.708 | 1201.107 |
| Swedish krona | SEK | 142.604 | 142.532 |
| Norwegian krone | NOK | 143.685 | 143.614 |
| Danish krone | DKK | 179.257 | 179.167 |
| Japanese yen | JPY | 10.791 | 10.785 |
| Special Drawing Rights |
SDR | 1664.445 | 1663.613 |
Indicative rates – 05.20.2015
http://www.cbi.iq/
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Just because something doesn’t do what you planned it to do doesn’t mean it’s useless. – Thomas Edison
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*** Current News ***
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firefly (Dinar Guru) – Press Release No. 16/23: “IMF Mission Reaches Staff-Level Agreement on Financial Assistance under Three-Year Stand-By Arrangement with Iraq” This is by far the biggest news I’ve seen to date in print! facts folks, facts! And straight from the horses mouth. Iraq would not have been approved for that loan unless Iraq met the conditions, IMO. In other words Iraq needed to accomplish everything the IMF needed BEFORE they got that loan! WONDERFUL news! [sounds like this could go anytime…] I believe you just may be right.
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rcookie (Dinar Guru) – [With bond sales going international in June this RV must happen prior to that correct — What ever date the bonds go!] THIS IS WHAT KEYWORDS HAD TO SAY ABOUT ALL BONDS IN INTERVIEW TODAY… HE STATES CLEARLY THAT WITH THE US & WB GUARANTEE OF THE JUNE BONDS TO INT’L MARKETS…$2 BILLION AND IS ALREADY ACCOUNTED FOR IN EXISTING 2016 BUDGET…HE TELLS US WE DONT NEED THE DOLLAR BONDS…THEY WENT WITH LOCAL NATIONAL BONDS IN IQD…BECAUSE THEY NEED DINAR BECAUSE MOST OF STATE BUDGET EXPENDITURES COVERS IQD…
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wmawhite (Dinar Guru) – Article: “Urgent .. Iraq gets a financial certificate enables him to deal with international banks with high confidence” To me, it implies that previous to this action…Iraq (CBI/its banks) were unable to deal with international banks. so, now they can? This implies, yes, now they can. This implies change…is this part of the process of entering the economy markets? i think it is quite reasonable to assume so. [Won’t this be also a chance for the dinar to international now?] technically…the dinar is international…it is the currency of a sovereign country…it is already accepted by other countries too, such as India. But, what you may be asking about, once the IMF gives its “Good House Keeping Seal of Approval”…Artice 8, more countries will agree to accept/exchange the IQD as part of Iraq settling foreign remittances.
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Bruce (Dinar Guru) – …announcement was made in Iraq yesterday – lower denoms are out and being used – Key cards are being used internationally, even in the USA – Iraq has been freed and they are ready to go with new dinar and new rates...what this tells us is that Iraq is off and running and that is great…Thursday mid-morning (today) the entire banking system was re-set… looking forward to a great weekend…
BGG ~ I am highly skeptical of this vein of “info”… I don’t think any of the above “has happened”…
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wmawhite (Dinar Guru) – there are soooo many indicators out here that gives us reason to believe the IMF knew what it was speaking about… All of this activity shows me that Iraq is moving further and further along in the process of entering the economy markets …and the effect of all of this activity will be a change in the status of the IQD as to how the world markets deal with the CBI and it’s banks…
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Aggiedad77 (Dinar Guru) – Article quote: “…to grant the International Monetary Fund and World Bank Iraq, according to the agreement to prepare the credit loan of $ 15 billion, in addition to a financial certification by the IMF gives him a chance to deal with all international banks with high confidence follows …” This is setting things up nicely…they should see this money sometime I’m thinking now late June, early July. And this next part is purely my opinion…can they show a new rate before they get the money? Well…IMHO…yes sure they can…and I’m thinking that a month to a month and half is a long time to keep something under wraps…that part of their requirements seems to have to be done…otherwise from what we are hearing they wouldn’t be getting the loan…logic…but just a logical opinion at this point.
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Iraqi Dinar/Dollar auction (most recent listing) 05-19-16
Currency Auctions Announcement No. 3202
This daily currency auction was held in the Central Bank of Iraq on the 05-19-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 136,198,003 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 136,198,003 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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Frank26 (Dinar Guru) – Article: “Iraq gets a financial certificate enables him to deal with international banks with high confidence” …one can not do this with a …PROGRAM RATE! [Iraq can only deal with international banks if they have an International currency.] YES!!! Our turn is coming IMO. These are continual Steps of the MR.
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Shredd (Dinar Guru) – Article quote: “A source at the Central Bank of Iraq, depriving a number of financial companies to participate in the bank’s auction for the sale of foreign currency, so as to dealing with gangs and funding Daash follows…” we’ve seen articles over the past years how this manipulation is robbing the citizens and funding the criminals and terrorists…if they have a single currency that is useful and practical, the exchange crime goes away…there won’t be confusion around the value but what I will be interested to see is the period of time during which the dinar gains value and stabilizes...goods and services pricing, price gouging, etc. which is why I felt a managed float for a period of time made sense, eventually moving to a float, but we wait and see.
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Parliamentary Finance rejects the dictates of the International Monetary Fund
He criticized the parliamentary finance committee member Ahmed Sarhan Sarhan, Sunday, the dictates of the International Monetary Fund and invite them to reduce the federal budget in exchange for the agreed loan already disbursed.
Said Sarhan “The budget is a federal law in force, voted by the House of Representatives after extensive discussion, and can not be amended only through a veto of the law of the Federal Court and sent back to parliament to amend it according to specific paragraphs, or through a proposal submitted signed by fifty deputy to modify it according to specific conditions.”…
Read More: http://www.dinarupdates.com/blog/
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Shredd (Dinar Guru) – Currencies of prosperous countries are then given a higher value than the currency of economically struggling nations…which is why Iraq is sitting pretty, they are the 23 wealthiest country in regards to reserves last time I checked…oil, recovering agriculture, improving infrastructure and a country ripe for investment sets a good stage…stability is the bottle neck though…security, economic and political (same ol, same ol) but the loans being taken as of late are a continued good sign, believe it or not...loans are good because it maintains the operating cushion of the borrower…loans are better than relief funds, for us that is…from the aggregate of news we’ve seen, it seems the move to a market economy may come first with the resulting float of the dinar. [post 2 of 2]
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Shredd (Dinar Guru) – the CBI adjusts the auction sales to maintain not only supply but price which of course are dependent on each other. once the dinar is actually representative of its true value, the market will drive value of their dinar…fair market value is what its called. The value of currency is determined by its selling and purchase price as a commodity. The Fair Market Value of a currency is based on the agreed amount at which it is bought and sold. The economic condition of a country, such as employment rates and opportunities for growth, is examined when comparing its currency to another country. [post 1 of 2….stay tuned]
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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Mountainman (Dinar Guru) – Articles: “{BAGHDAD: Iraq’s Euphrates News} got a financial certification by the IMF gives him a chance to deal with all international banks with high confidence.” “Urgent ready credit gives Iraq a loan of $ 15 billion securities certificate to deal with international banks” [Iraq can only deal with international banks if they have an International currency…] B I N G O …EXACTLY and Well Said…THINGS are Done BEHIND CLOSED DOORS and [WHEN] (THEY) want One to See…ONE will See as We are Here… CORRECT? IMO…Absolutely…Now in TIME/ING…It will Be A PUBLIC SPECTACLE and A Potpourri of their NEW REALITY…IMO.
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BGG (Dinar Guru) – based on their NEED… (according to Alak) – they would benefit great from a “value enhanced” Dinar. Their internal purchasing power would be greater – just like your and mine. they are pointing out… in a vague sort of way, they don’t need USD – they need more Dinar, a more powerful Dinar because they need purchasing power in their own country – for their own projects.Simple. …they are almost shouting “THEY NEED VALUE”… do you think they would achieve value and withhold it from the world?
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Mountainman (Dinar Guru) – Article quote: “During the meeting with Rabiei on Wednesday, officials of Oclaner Asset Management Ltd. said that their company is able to absorb three billion dollars of investment money for Iran projects.“ …it Is OBVIOUS IRAN is EXPECTING A NEW INCREASE in BUSINESS and CASH FLOW…I’d Say they Know their MONETARY DOORS are About to EXPLODE…I Know the IMF (THINKS) So As Well…Hmmm…This is Some SERIOUS HUGE Money in A Short Period of TIME…for A Country Whose Currency is WELL BELOW it’s Projected VALUE…So WHAT is EVERYONE EXPECTING…A UNION..A WEDDING…Is the IMF Leading w/ the MARRIAGE VOWS…IRAN do You take IRAQ as Your LAWFULLY WEDDED WIFE…I Do…Etc…You get the Point..IMO. It’s {ALL} About THEIR DEAL.
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Parliamentary economy: IMF loans conditional on Administrative and fiscal reforms
Special – The parliamentary economy Committee member confirmed Najib, a brilliant Thursday that IMF loans conditional on Administrative and fiscal reforms.
Najib said l/balance “news/IMF loans will be given to Iraq within three years, a sign that” loans conditional on Administrative and fiscal reforms. ”
She added, “the reconstruction of the regions affected by terrorism from the priorities of these loans.”
It is said that economy and Investment Committee member Magda Tamimi revealed, earlier, about Iraq’s debt exceeded over $ 73 billion dollars in debt that includes all the Arabic countries and foreign debts.
Read More: http://www.dinarupdates.com/showthread.php?34388-Parliamentary-economy-IMF-loans-conditional-on-Administrative-and-fiscal-reforms
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firefly (Dinar Guru) – Unless the rules have changed, there will be NO free float. IMO it will be managed!
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BGG (Dinar Guru) – I had a very good source tell us (at one time) about how much corruption and bribery Maliki was involved in – because of which they were pretty convinced he would actually get his 3rd term…what we are dealing with now – is the depths of the culture of corruption he fostered… it is not going away without a fight… it appears – it is going away. One way or the other…
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rcookie (Dinar Guru) – RAFIDAIN BANK ANNOUNCES ANNIVERSARY ON 19TH OF MAY CELEBRATE 75TH ANNIVERSARY & TECHNICAL ACHIEVEMENTS NEVER SEEN BEFORE & LAUNCH OF IRONING CARD (MASTERCARD) FOR USERS INSIDE & OUTSIDE OF IRAQ AND IN COLLABORATION WITH CBI PROVIDE DOLLAR COIN TO CITIZENS FOR MULTIPLE PURPOSES IN COMPLIANCE WITH CBI CONDITIONS AND OPENING TO BANKS OF THE WORLD...FOR EMPLOYEES & RETIREES…WOW!!!…
WHO DOES IT MAKE SENSE TO…TO DISCONTINUE A 50 NOTE FOR ABSENCE OF VALUE PURPOSE… AND THEN RELEASE DOLLAR COIN…WHETHER COMMEMORATING 75TH ANNIVERSARY OF 1 OF THE STATE OWNED BANKS OR NOT…
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