Iraq Dinar Speculation

Hey all, I hope you are doing well! Things are moving again with the dinar  - check dinarvets.com for my latest chat to get the most recent news.

Sponsored post below:

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*What is the Iraq Central Bank Doing to Improve Exchange Rates?*

One of the primary reasons that the IQD is considered an extremely exotic
currency among the majority of the world’s forex traders, aside from the
fact that few brokers offer it as a product, is that there are huge
discrepancies between the prices at which it is available. International
banks do not exchange it as a result. This of course negatively affects
liquidity when buying or selling the dinar, putting off most investors,
despite the considerable potential present. One way of combating this issue
is to improve the quality of the currency’s foreign
exchange http://www.alpari.co.uk/products/fx-forex-trading rate. Both
a better valuation and a reduction in illiquidity should make
the IQD a more attractive prospect to foreign investors. In theory, this
would then have a cyclical effect in which the Iraqi dinar would be more
widely traded, bringing it into line with other emerging currencies.

Improving exchange rates and liquidity is of course no easy job.
Artificially attempting to inflate the value of a currency is inherently
risky; potentially causing more internal problems than increasing the
inward flow of money. The government is however taking some important steps
to reach its goals, several of which have come in the last two quarters as
efforts are ramped up.

The first piece of promising news came when in August, it was announced by
the International Monetary Fund that Iraq had increased its gold reserves
to a very impressive 31 tonnes. What was even more interesting is that 23.9
tonnes of gold were purchased in the same month. This certainly shows a
considerable degree of commitment to bringing in a stable asset, in
addition to helping guard against dollarization.

The Iraq Central Bank’s reserve of hard currency also increased last year,
up to $67 billion from $63 billion. Much of the dinar’s exchange rate is
based upon the reserves and assets that the bank holds, including
currencies and gold, so this bolstering of reserves are certainly a boost
to the financial situation.

Earlier this week, the Central Bank announced that the Ministry of Finance
had sold treasury bills to the value of 62 billion dinars. They were all
sold quickly, and to the highest bidders. The fact that such a large
quantity of treasury bills were sold swiftly does certainly suggest that
there is a growing confidence in the credit worthiness of the Central Bank.

It seems that Iraq’s finance ministers and the central bank are certainly
making considerable headway in their attempts to improve stability and
liquidity. There is still a long way to go, given that there are no signs
yet that the dinar will become widely traded beyond brokers in the middle
east http://www.alpari.ae, but it’s a start at least. The current
strategy is for dinars to be exchanged for US dollars through the oil
industry, which can then be used to purchase gold. It’s a slow road to
attracting foreign investment, but the Iraqi public will see better prices
on foreign goods relatively quickly.

link 1: http://www.alpari.co.uk/products/fx-forex-trading

link 2: http://www.alpari.ae/

Hey everyone!

It was just brought to my attention that I haven’t updated this blog in a while – sorry about that!

I do weekly chats at DinarVets.com – everyone should be a member over there. It’s free and we have an awesome community.

Here is my latest chat as of January 30, 2013: http://iqd.me/l/9yas

(I do at least one chat a week there, but I don’t plan on updating this site every time… so head on over and see what’s new!)

For you VIP members, here is the latest VIP email as of the same date: http://iqd.me/l/9yiy

See you over on dinarvets.com!

- Adam

Hey everyone! Here’s a short list of articles I referenced in chat today. (Here’s the link to the recent weekly chat: http://dinarvets.com/forums/index.php?/topic/123459-adams-official-chat-71812 )

With Ramadan right around the corner, it looks like we are back to “hurry up and wait” mode. Let’s stay positive to see some action after Ramadan!

Central Bank: speculative cost of the project to delete the zeros up to 172 billion dinars

BAGHDAD / JD / .. the Iraqi Central Bank estimated cost speculative project to delete the zeros from the currency up to 172 billion dinars .. The study by a private project delete the zeros received / JD / copy: The total cost of speculative to project the deletion of zeros up to a hundred and seventy-two billion dinars, “.. the bank said in his study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by companies .. He added that “the cost of speculative Stamping coins of the new currency of…

Read more: LINK

Najafi is working to unify the visions of Representatives about the oil and gas law and the Kurdish national movement optimistic

Ruled out of the Kurdistan Alliance meeting to be House Speaker Osama Najafi heads of parliamentary blocs on Sunday, dedicated to pass important laws and settle disputes, revealing that the meeting was limited to study the law of oil and gas only.

As pointed out Nujaifi urged that the Legal Committee and the Committee on Energy in parliament to unite their proposals in…
Read more: LINK
Three main points hinder adoption of oil and gas law, says parliamentary committee

BAGHDAD, July 16 (AKnews) – The oil and energy committee in the Iraqi Council of Representatives stated Monday that three main points hinder the adoption of the controversial oil and gas law related to the ownership of the oil wealth and its management.

Committee member Furat al-Sharei said: “The Kurdistan Blocs Coalition (KBC) and Iraqiya List support the management of oil wealth…

Read more: LINK
Low rate of inflation in June and the annual rise in its index by 6%

BAGHDAD / JD / .. revealed the Ministry of Planning reported a decline in new indicators of inflation during the month of June compared with the month of May the previous year, with increased indicators annual rate of 6%.
The ministry said in a statement received / JD / copy of it: that the inflation index fell by (2%) during the month of June compared with May, who had witnessed a decline (1.3%) compared to April 2012….

Read more: LINK
Deputy for Iraq: the great teacher (in reference to America) is not pleased with the enactment of the law of oil and gas in Iraq
MP for the Iraqi List Mutashar Samarrai said the age of oil and gas law will ensure that identify abusers on the rights of the Iraqi people, adding that the lack of enactment of this law would open the door to the looting of the date of Iraq. Samarrai said in a statement to Agence {Euphrates News} on Tuesday that “the great master (referring to America) is not pleased with the enactment of the law of oil and gas in Iraq and wants to keep Iraq a poor country, “noting that” there are forces present in the world and everyone knows you want the Iraqi people to remain a poor country is the richest country in the world….

Read more: LINK

That’s it for this week – best regards, everyone!

- Adam

Good morning all! Here is today’s chat: http://dinarvets.com/forums/index.php?/topic/122814-adams-official-chat-71112/

And here are the articles I referenced:

Finance Committee: Central has the power to replace the currency without reference to the government

BAGHDAD / JD / .. announced that the parliamentary finance committee that the central bank has the powers of the replacement of a single currency without reference to the Council of Ministers. A member of the Finance Committee Haitham al-Jubouri in a statement to the Agency correspondent JD / Adnanar / the central bank has the powers of the currency exchange alone without reference to the cabinet that …

Read more: LINK

Member of Finance Committee proposes issuing coins category (50) and (100) thousand dinars instead of deleting the zeros

Baghdad (news) .. Member suggested the Finance Committee MP / National Alliance / Hussain Yasiri, issue new categories of the (50) thousand dinars, (100) thousand dinars, the currency current instead of deleting the zeros of the three of them, the fact that the current circumstances do not allow changing money.

Yasiri said (of the Agency news) said on Monday: There are many problems that will accompany the re-structuring of the currency after you delete the zeros of the three of them when applied will cause rise in prices of goods in local markets because the citizens do not have full knowledge of….

Read more: LINK

Iraqi Central Bank limits $10m for banks with capital of 250bn IQD in currency sales

ERBIL, July 8 (AKnews) – The Iraqi Central Bank (ICB) has decided to limit the currency sale to $10m for banks with a capital of 250bn IQD to improve currency sales.

The bank’s governor Muzhir Salih said: “$4m was fixed for branches of foreign banks in currency sales…

Read more: LINK

Trade Bank of Iraq proceed to issue the Visa Gold card

Trade Bank of Iraq announced the start to issue the visa gold card [ Visa Debit Gold Card ] the privileged world which allows the holder to enjoy the overall international discounts for purchases and hotel reservations will be given to the customers of the bank and the currency of the dollar.

The Director-General of the Bank Hamdiya dry, according to a statement received by all of Iraq [where] a copy of it today that “Issuing such a card comes to encourage citizens to handle credit card that offers….

Read more: LINK

Debate between Maliki and Allawi and Barzani

Haider Ali Jawad

White bloc demanded to hold a televised debate between Prime Minister Nuri al-Maliki and President of the Iraqi List, Iyad Allawi and President of Kurdistan, Massoud Barzani, to clarify the political crisis in front of the Iraqi street.

The MP said the bloc Ahmed Orabi: We demand to hold a televised debate between Maliki and Allawi and Barzani to inform the street on what is going on in the political arena of errors and remove the confusion for those positions and causing the current crisis to hit the country.

He said: This requirement is….

Read more: LINK

Member of Finance Committee: Negotiations are continuing with Kuwait to extinguish the debt .. And remove Iraq from Chapter VII will be achieved soon

Baghdad (news) .. Most likely a member of the Finance Committee MP / National Alliance / Secretary Hadi, lifting the seventh item imposed by the United Nations on Iraq soon after ongoing negotiations with Kuwait to extinguish or pay financial debts to it.

said Hadi (of the Agency news) on Wednesday: There are …

Read more: LINK

See you next week, or hopefully sooner!

- Adam

Well, no RV yet as of June 13 2012. Here’s a list of articles I’ll reference in today’s chat:

New currency to be implemented over the next two years:

… demanded the formation of a committee to study the hairs or the characters that will be placed on the currency that will be during the next two years. And between a member of the Finance Committee …

Read more: LINK

Kurds push forward with efforts to boot Maliki, but may not have enough signatures:

… said that the President received a request to withdraw confidence from the Prime Minister, signed by 160 lawmakers; later 11 lawmakers withdrew their signatures, while 2 others put their requests on hold, making the number of signatures received demanding withdrawal of confidence does not meet the required number…

Read more: LINK

And finally, President Talabani confirms that they don’t have enough votes to oust Maliki:

….He stated to All Iraq News Agency (AIN) “The blocs failed to accomplish this project through the President, Jalal Talabani, and will fail in case the blocs summon Maliki to the parliament to investigate him.”…

Read more: LINK

That’s it for now, be sure to check the DinarVets.com forums for the weekly chats with Q&A from the members and additional insight to the Iraqi Dinar.

- Adam

Here’s a quick list of this week’s Iraqi Dinar and political news – I’ll be referencing some of these in my chat this morning. Happy Wednesday, everyone!

Dinar News:

Central: Open the windows of the Rafidain and Rasheed reduce the exchange rate of the dinar against the dollar to 4%

Reduced the open windows of selling the dollar in the Rafidain and Rasheed of the low exchange rate of the dinar against the dollar to 4 percent, compared to the exchange rate difference of about two weeks ago.

Read more: http://dinarvets.com/forums/index.php?/topic/118020-central-open-the-windows-of-the-rafidain-and-rasheed-reduce-the-exchange-rate-of-the-dinar-against-the-dollar-to-4/#ixzz1vhEruQZj

MPs: Failed Meeting (5 +1) will be presented to Iraq political and economic shocks .. And the region into a new crisis

Baghdad (news) / report / Zainab Suncor / .. drafts, representing various political blocs on the possibility of prejudice to Iran about its nuclear program and the success of the meeting (5 +1) to be held on Wednesday in Baghdad, warned of the failure as being the meeting will lead to a new crisis in the the region has been subjected Iraq to the shocks of political and economic.

Read more: http://dinarvets.com/forums/index.php?/topic/117789-mps-failed-meeting-5-1-will-be-presented-to-iraq-political-and-economic-shocks-and-the-region-into-a-new-crisis/#ixzz1vhCVkHWk

Vice Chairman of Finance Committee: Mainstreaming system (electronic clearing) in all banks will develop the banking system

Baghdad (news) called on Vice-President of the Finance Committee MP for the Kurdish coalition blocs Ahmed Hassan Faizullah, to the introduction of modern technologies in the work of Iraqi banks to facilitate its functions to serve the citizens of Iraq, indicating that the circulating clearing system electronic all banks will develop the banks. said Faizullah (of the Agency news) said on Monday:

Read more: http://dinarvets.com/forums/index.php?/topic/117775-vice-chairman-of-finance-committee-mainstreaming-system-electronic-clearing-in-all-banks-will-develop-the-banking-system/#ixzz1vhCnyIc8

White members of the bloc demanding 5 +1 meeting urged Kuwait to remove Iraq from Chapter VII

BAGHDAD – Where bloc demanded the white nations Security Council members who will meet on Wednesday in Baghdad urged Kuwait to remove Iraq from Chapter VII. said Secretary-General of the

Read more: http://dinarvets.com/forums/index.php?/topic/117760-white-members-of-the-bloc-demanding-5-1-meeting-urged-kuwait-to-remove-iraq-from-chapter-vii/#ixzz1vhD4oe5l

After covering with 62 billion dollars .. Iraqi dinar due to global financial markets

Economy no comments Portal Iraq, “the follow-up economics editor
Returned to the Iraqi dinar traded in global financial markets after the availability of cover foreign currency exceeding $ 63 billion as a reserve with the Central Bank of Iraq.

Read more: http://dinarvets.com/forums/index.php?/topic/117902-62-billion-coverdinar-due-to-global-financial-markets/#ixzz1vhDQCF5K

The Iraq Stock Exchange: Delete the zeros of the local currency will affect the level of stock trading

BAGHDAD / news center for the Iraqi Media Network – Authority confirmed Iraq Stock Exchange that the deletion of zeros from the local currency hurt at the current stage the level of stock trading in the Iraqi market for securities.

Read more: http://dinarvets.com/forums/index.php?/topic/117892-the-iraq-stock-exchange-delete-the-zeros-of-the-local-currency-will-affect-the-level-of-stock-trading/#ixzz1vhDaJ3Di

Financial Expert: consistently low expectations of the Iraqi dinar against the dollar in the coming days

Baghdad (news) attributed the financial expert, Hussein Allawi, the star, the low exchange rate of the dollar against Iraqi dinar between (1222-1223) of the policy that I follow the central bank offer (your customer), and the role of the Iraqi media, and expected continued decline in the dollar against the Iraqi dinar. said the star (of the Agency news) said on Tuesday:

Read more: http://dinarvets.com/forums/index.php?/topic/117896-financial-expert-consistently-low-expectations-of-the-iraqi-dinar-against-the-dollar-in-the-coming-days/#ixzz1vhDoQIw7

Atmosphere is appropriate to legislate oil law, says parliamentary committee

ERBIL, May 22 (AKnews) – Iraq’s parliamentary oil and energy committee said that now is the time to legislate the oil and gas law, adding that only the State of Law Coalition and Hussain al-Shahristani’s Independent bloc have hindered agreement on the law during the past few months.

Read more: http://dinarvets.com/forums/index.php?/topic/117913-atmosphere-is-appropriate-to-legislate-oil-law-says-parliamentary-committee/#ixzz1vhDzxcEE

Report: President Talabani, Barzani handed his resignation to the need to use …

Him President Jalal Talabani, a resignation from office to the President of the Kurdistan region of Iraq, Massoud Barzani, and in which he expressed his willingness to leave his post and use it as leverage in the existing problems between Baghdad and Erbil….

Read more: http://dinarvets.com/forums/index.php?/topic/118019-report-president-talabani-barzani-handed-his-resignation-to-the-need-to-use-when-extended/#ixzz1vhED1soS

World Bank puts his plan to run Iraq’s economic affairs for the next 4 years

Baghdad: JD said the World Bank prepared a plan for the next four years with regard to economic affairs of Iraq, and will identify areas of cooperation according to the priorities of the Iraqi government.

Read more: http://dinarvets.com/forums/index.php?/topic/118026-world-bank-puts-his-plan-to-run-iraqs-economic-affairs-for-the-next-4-years/#ixzz1vhEehhD7