Iraqi Dinar Guru opinions 12-3-15
Iraqi Dinar Guru opinions 12-3-15
12-3-2015 Intel Guru Frank26 One thing the IMF told the CBI in order to be in compliance with Article 8 you must be 2% of your CBI rate within the market rate…commonly known as the street rate…so they brought the rate down…they brought the street rate down to make it Article 8 complaint with a 2% movement….look at 1166 what is 2%…23.32…add that to 1166…it comes out to 1189.32…what is the rate that the CBI put out today…1180 to 1182 up to 1214…1214 is the street value…1189 is the 2% compliance…they are moving from the RI to the RV…this is started…it is public…
12-3-2015 Intel Guru Frank26 …yesterday they decreased the street rate of 1214 to match within a 2% which is in Article 8 compliance…they are out of Article 8 but the rate must make it official before they tell you… The IMF who tells all countries what to do with their currency..print, destroy…increase their rate, decrease…this I think is the last demand they had on the Iraqi currency…you have to be within 2% compliance of that street rate…we will help you but you have to be ready by the first quarter 2016 otherwise it does not work.
12-3-2015 Newshound Guru Millionday THE REMOVAL OF THE THREE ZERO CURRENCY IS A DIRECT RESULT OF THE NEW VALUE AND INTERNATIONAL RATES — IT IS NOT TWO DIFFERENT STEPS — IT IS A RESULT IN WHAT CURRENCY IS NEEDED TO BUY THINGS AND THE INTERNATIONAL INVESTORS INTEREST TO GIVE THEM BACK. KNOW IT IS NOT TWO DIFFERENT THINGS — ONE IS NOT DONE BEFORE THE OTHER — IT IS A RESULT.
12-3-2015 Newshound Guru tlm724 Any movement is awesome! This just proves that the IMF has their hands deep in this… This movement (loss in value) pushes the IQD closer to IMF compliance! We are so fortunate to witness this movement as Iraq is actually making the necessary changes to their monetary and currency reforms! The fact that it moved 16 pips is indeed a huge change for all of us! I am most excited! It moved! This also will make the citizens dump their dinars and thus creating less dinar on the streets and keeping speculators at bay, they won’t like this and will act just like dumping bad stocks! This is actually a brilliant move…and comes on the heels of deleting the zero’s IMO. I don’t think 50 k note will come out! Can’t wait to see what comes next!
12-3-2015 Newshound Guru firefly HUGE meeting last Nov 10th. Parliament reconvenes on the 8th. Tarriffs and taxes to be implemented on the 15th…I’m expecting Dec to be a VERY exciting month.
12-2-2015 Newshound Guru wmawhite …the need for a particular type/size of currency is directly related to the costs of goods in a country. The value of the country’s currency directly affects the costs of goods in that country. So the size of the currency is indirectly related to the value of the currency. I have been trying to get folks to stop getting hung up on the size of the currency because, we will be Loooong Gooooone by the time all of the notes (LDs) are distributed because the new value of the IQD will need many many months to work its way through all of the Iraqi economy. Iraq is joining the world economic markets not the “in-country exchange window” market. Please stop thinking that [what] Iraq does in-country has anything to do with the world markets.
12-2-2015 Newshound/Intel Guru BGG …they have had LD’s printed and ready to use for quite some time…LD’s won’t be a hold-up…the only reason we see no LD’s – is because they are of little use (currently)… when they are – we will see them. Ask yourself this – why would they print them and have them on hand, if they didn’t intend to use them (eventually)?
12-2-2015 Newshound Guru Kaperoni Article quote: “According to a statement of the bank, “Eye Iraq News” received a copy of “The size of the amount sold today reached 179 million, and to $ 760 000, priced at 1166 dinars to the dollar exchange rate, with the participation of 24 banks and 16 financial company to convert.” It is clear from this that the new price has not been reflected in the auctions yet.. So I would not assume the spread is in compliance. Once the new price changes, we may very well see the spread change accordingly.
12-2-2015 Newshound Guru wmawhite [can you comment on the cbi rate change?] Yes…interesting that the IMF has the CBI “by the hand” and this is the first move in how many years? Just speculation…get the Buy/Sell to a point that is stable in preparation for de-pegging from the dollar. …we are at the point, IMO, that as the IMF has told the world that they expect Iraq to re-enter the “markets” by the first half of 2016. Nothing has changed. The world has been told what to expect. Knowing this, what has to change with the IQD in order for it to re-enter the “markets”? Answer: a tradable/recognized currency…that reflects the true value of Iraq.
12-2-2015 Newshound Guru Millionday THE REASON THAT THE CHANGE IS DONE IMO IN CBI FOR THE EXCHANGE RATE HAS BEEN TOLD TO US TWO DAYS AGO. THE FIRST THING IT IS SUPPOSED TO DO IS BE ADJUSTED FORMALLY FOR THE COST OF LIVING /INFLATION ETC. THAT WAS IN INK TWO DAYS AGO… THIS IS HUGE NEWS…GREAT NEWS. THIS MEANS THAT A STEP THEY STATED WAS TO BE DONE HAS BEEN DONE IN ONE DAY. WHEN HAS THAT HAPPENED? THEY LAYED OUT THE STEPS AND THE FIRST WAS A VALUE ADJUSTMENT — THIS HAS BEEN DONE RIGHT AWAY. THIS IS THE FIRST STEP THEY WERE DISCUSSING — SO KNOW I AM VERY EXCITED. THEY ARE DOING EXACTLY WHAT THEY SAID AND THAT IS NEWS IN ITSELF. THIS IS FAST MOVEMENT. THEY ARE WORKING AND MOVING — THE TRIP TO BRUSSELS WAS CANCELLED TO VOTE IN THE BUDGET. THIS IS GREAT NEWS.
12-2-2015 Newshound Guru sczin11 THE CBI WEBSITE HAS…WELL, CHANGES AND…WOW! DINAR EXCHANGE RATE DOWN…CURRENCY CODE SELL BUY US dollar USD 1182.000 1180.000…MARKET RATE…POSTED AT 1214. DECEMBER 2, 2015…. IQD EXCHANGE RATE DOWN…WRONG DIRECTION? THIS IS ONE OF THE WEALTHIEST PIECES OF LAND IN THE WORLD! TRADE GLOBALLY IS A MUST. THE WORLD AGENCIES, INCLUDING, BUT NOT LIMITED TO THE IMF AND WORLD BANK, AS WELL AS THE INTERNATIONAL COMMUNITIES, ARE WELL AWARE OF THE STRUGGLE WITHIN THE POLITICAL SYSTEM OF IRAQ, YET THEY REFUSE TO ABANDON SHIP…THEY CONTINUE AT ALL COSTS, MONEY AND LIVES, TO STAND BY AND WAIT FOR CHANGE…AND FOR THIS REASON, AND THIS REASON ALONE, WE SHOULD ALL CONTINUE TO PERSEVERE! REMEMBER…FOLLOW THE MONEY!