March 31, 2009
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Falling oil revenues, presumably from the falling price of oil, has spurred the central bank of Iraq to decrease it’s base interest rate from 11% to 9%.
This decrease is able to happen, in part, due to the inflation rate decreasing in Iraq. As stated by Mudher Mohammed Salih, the Iraq interest rates could call again – Salih is expecting rates to be around 5% in January 2010.
Source: lse.co.uk
Editors comment: With the incredibly stable Dinar value, an inflation rate that is going in a positive direction, and now interest rates falling to extremely attractive levels – what do you think this will do to the situation in Iraq? It’s looking good, we think!
March 31, 2009
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No mention of the name of the firm, can anyone find this for us? Here’s the link to the Aswat al-Iraq story: http://en.aswataliraq.info/?p=110762
March 30, 2009
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The South Oil Company of Iraq issued a tender for the drilling of 45 new oil wells in the vast South Rumalia.
This is a developing story, bookmark this site or subscribe to the feeds to keep up to date. The developments in Iraq continue to be a fascinating topic. See below for a map of the approximate location.
Source: UK Reuters
March 26, 2009
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Earlier this month, on March 5th, the Iraqi parliament passed a 69.1 Trillion IQD budget. The Presidential Board (PB – composed of President Jalal Talabani and VP’s Tareq al-Hashimi and Adel Abdulmahdi) rejected it today.
March 26, 2009
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Although the Central Bank of Iraq website is still down, apparently the auctions did take place this morning.
From Asway al-Iraq website: Demand for the dollar dropped today, down to 124.950 million from 135.513 million yesterday. Exchange rate stayed consistent at 1176 IQD per USD.
Per usual, none of the participating banks offered to sell USD. And the beat goes on.
March 26, 2009
VP Al Hashemi on Iraqi Banking
Following the first Economic forum in Iraq, Vice President al Hashemi states that the performance of the banks in Iraq is “weak”.
Here’s a link to the video. (Arabic, unfortunately – feel free to contact me with an english translation!)
March 25, 2009
The National Economic Forum that took place in Baghdad over the last couple days has been finalized. As you’ll see from this article, the actual effect on the value of the Iraqi Dinar is still unknown. Looking at the recent articles posted, you can always be hopeful if you’re invested – but as always, nothing is certain when it comes to the revaluation of the Dinar.
Many people believe that Iraq has no choice if they expect investors to put more money into the country, making Iraq the global player it has the reserves to be… and many people believe that the Iraqi government will never make that decision, regardless of how much sense it makes or doesn’t make.
Strange… that sounds a bit like the conversations we have about OUR government!
If you’re wondering why I didn’t discuss the actual article with any modicum of seriousness… I simply have a hard time lending credibility to a site that A) Doesn’t post the date on the article and B) Labels itself as a medium “For mass media culture and art”.
However, it does happen to be the most recent news I know of regarding the Economic summit, so here you go. LINK.
Come back soon, we’re just starting to have fun!
-Admin
March 25, 2009
The first economic forum ended yesterday, with this interesting tidbit…
The issue of oil and gas and the role of banks in Iraq were discussed during the forum,” al-Hashemi said in a speech during the forum’s closing ceremony.
“The role of banks is very week,” he added.
“The forum came up with recommendations that will be announced later,” he pointed out.
Link to original story on Aswat al-Iraq: here.
March 25, 2009
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Please keep in mind this is a summary of a translation – certain things may get lost in the course. We at DinarSpeculation wish to provide valuable informations that you can determine signficance from.
V.P. al-Hashemi states that certain politicians are highly overpaid and calls on them to set an example by taking paycuts. He is calling for all monies spent to be publicly accounted for.
Read the full translated article here.
March 25, 2009
This is an amazing time in the history of the Iraqi Dinar. The CBI (Central Bank of Iraq) website is down. Why would the website be down? Several knowledgeablemembers of the Dinar Speculation crowd have mentioned that an RV could be coming very soon. Interesting times indeed!
For those of you reading here for the first time, please have some patience as the site is being developed more on the backend than on the front. Once everything is in place, you will be able to quickly reference tons of valuable information regarding Iraqi Dinar and the circumstances surrounding the possible revaluation of the currency.