Iraq Dinar Speculation

I know first-hand that the LNs or Local Nationals that we use on base were just paid in USD. They live in Habbaniya.. so I guess around here the USD is still the Number One currency. Again this is Habbaniya, not Baghdad.

thanks for the comment, Jake.

Adam – Jake, it is the same in Baghdad. I confirmed this with 2 of my interpreters and 3 Iraqi friends yesterday. Here are my thoughts on this…The Iraqi’s have no motivation to cash in their USD. Every shop/business in Baghdad accepts IQD as fast as they accept USD; and the Iraqi’s have little, to no, confidence in their banks (especially the CBI) so why would they give up the right to us a currency that they know has had value for the last 6 years. I don’t really know what the GOI could do to curb the use of USD, but I would say something needs to happen. Any thoughts?

I’ve been reading a lot about small denominations versus large denomination bills. In your opinion or insite, is there going to be a difference in the value of the IQD

Thankfulness !! Very caring placement!

Is there any info that says when the RI/RV is to happen?

above you say the us dollar will the unofficial currency of Iraq for quite some time. I don’t like the sound or the timing on that one.

I know first-hand that the US is making payments to Iraqi contractors who are working to rebuild Schools and critical infrastructure in Southern Iraq in IQD and trust me, it is a lot of money. As of October 1st 2009 the use of the USD for payments outside of USG internal operations has to be made in IQD (as per the security agreement that went into affect Oct. 2009) for all the reasons stated above (increase the stability of the IQD and reduce the circulation of the USD). That being said, I do not see how the IQD could RV very quickly because it seems to me that the economy of Iraq would be tossed into extreme chaos. Not to mention that the Iraq contractors, and there are a lot, that are being paid to do the construction who are now multi billionaires in IQD would or could be multi billionaires in USD over night.

Iraq Dinar will RV whenever the US Government wants it to RV.

How is price one dinar

how is price one dinar in one dolar

1USD = 1170IQD

If this isnt the best news this side of 2010 then i will donate my dinars to charity

Iraqi-US cmte resumes talks on chapter VII

Politics 1/25/2010 12:06:00 AM

BAGHDAD, Jan 24 (KUNA) — The Iraqi-US coordination committee held a meeting on Sunday to follow up on discussions on the issue of relieving Iraq of the UN-imposed Chapter Seven.
The Iraqi Foreign Ministry said in a statement that minister Hoshyar Zebari headed the Iraqi side at the meeting, while the US party was led by the Deputy Secretary of State Jeffrey Feltman.
Discussions at the meeting dealt with various issues of common concern, current regional affairs and means and plans for boosting security and stability in Iraq in particular and the region in general, the official statement said.
They also dealt in particular with the means to relieve Iraq of the chapter seven, efforts to enable Iraq restore its international status that it had enjoyed before issuance of the UN resolution 661 in 1990, in addition to the US honoring of its pledges with regard of the withdrawal of the American forces from the country.
In October 2009, the US declared that it agreed with Iraq on establishing the joint commission to resolve issues related to the chapter Seven. (end) ahh.rk KUNA 250006 Jan 10NNNN

http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2056678&Language=en&searchtext=iraq

I can post the link but for some reason i cant, maybe adam has something to do with this

Regards

Stephen