Latest Iraqi Dinar News



Latest Iraqi Dinar News

Hi readers, welcome back to the #1 read network for the Iraqi Dinar, Dinar News, and all that applies to our investment. It’s the Thanksgiving time of year, so I want to wish you all a safe and happy holiday – be thankful for all you have, every day.

My personal philosophy on the Dinar is that this is a “buy and hold” investment. Once you have bought what you are comfortable investing, it’s wise to prepare for the eventual rise in the value of dinar… but it is not wise to overextend yourself every time you hear a rumor! Plan for the future, join the VIP if you want to learn how to prepare POST RV, use an IBC to protect your wealth, and more… but don’t hang on every word a nameless person in a chatroom says!

It is important to get a snapshot of how things are progressing over there, so once a week or so I suggest you stop by this page and read the latest. I’ll always steer you straight.

So, here’s the latest relevant Iraqi and Dinar news:

Finance and Banking:

Good conversation regarding the latest currency auction:

Currency Auctions

Announcement No. (1781)
The latest daily currency auction was held in the Central Bank of Iraq on the 24-NOV-2010.

The results were as follows:

DetailsNotesNumber of banks 14

Auction price selling dinar / US$1170
Auction price buying dinar / US$—–
Amount sold at auction price (US$)125,989,000
Amount purchased at Auction price (US$)—–
Total offers for buying (US$)125,989,000
Total offers for selling (US$)—–

Read more: http://dinarvets.com/forums/index.php?/topic/42707-cbi-currency-auction-11242010/#ixzz16EM6TfbK

There was a burst of insecurity amongst Dinar Investors recently when a few well known people made claims that Warka was going out of business or was in bankruptcy. I received no less than 50 emails about it, to which I replied “Don’t worry, Warka is fine!” I’ve always said that Warka is a solid bank and I am very happy with the returns I am getting on my Dinar in those accounts. I’m also completely unphased by the constant rumors – competitors of Warka like to try to hurt Warkas image, but Warka is fine. The independent banks, like Warka, will probably always be strong. The CBI agrees:

Central Bank: private banks are better than state-owned ones
Friday, November 19th 2010 3:52 PM

Baghdad, Nov. 19 (AKnews) – The Iraqi Central Bank (CBI) assured on Friday that the performance of the private banks is better than the performance of State-owned banks, indicating that the lack of restrictions and routine procedures in private banks was a major cause in the evolution of their work.

Muzher Mouhammed Saleh, the chancellor at the central bank told AKnews that the private banks developed greatly during the past period through the development of monetary dealings after intensive follow-up from the CBI.

Read more: http://dinarvets.com/forums/index.php?/topic/41930-central-bank-private-banks-are-better-than-state-owned-ones/#ixzz16EMJhON7

For info on opening an account at Warka, see this article.  (I am not compensated by Warka, just sharing information.)

Another helpful link for people invested in the Dinar is this: How to trade on the ISX. I am very heavily invested in the ISX and I think it’s a great opportunity. It will be even more lucrative once either the RV is announced or the ISX goes international. The word from my contacts in Iraq is that there is heavy talk on making that happen soon. I did a quick search and found a good article on exactly that:

The formation of a new Iraqi government will undoubtedly be good for stock market sentiment, as such events generally are. And indeed the market has pretty obviously turned around already, with volumes increasing and the Rabee Securities index up about 6% since bottoming in early October.

Read more: http://dinarvets.com/forums/index.php?/topic/42808-time-for-a-new-securities-law/#ixzz16EPsGFLD

Council of Ministers to discuss 2011 budget

Baghdad, Nov. 23 (AKnews) – An adviser to the Iraqi government said on Monday that the Council of Ministers meeting on Tuesday will read the terms of 2011 budget, then sent it to the parliament for discussion and approval before the beginning of next year.

Read more: http://dinarvets.com/forums/index.php?/topic/42556-council-of-ministers-to-discuss-2011-budget-today/#ixzz16EQY9AEe

IMF not happy with Iraq’s 2011 budget:

Baghdad, Nov. 21 (AKnews) – The International Monetary Fund (IMF) has cited Iraq’s monetary policy as the reason for turning down an Iraqi request for a loan package to reduce its 2011 budget deficit, an advisor to the Iraqi government said today.IMF Building New York

Read more: http://dinarvets.com/forums/index.php?/topic/42810-imf-disappointed-with-2011-budget/#ixzz16ERSghOD

Iraq 2011 budget bases on $73 per barrel oil price

… export figure includes 150,000 bpd from the semi-autonomous Kurdish region, spokesman Assim Jihad said. Exports were halted last year after a dispute between Kurdish officials and the central government and have yet to resume.

The figures were agreed by an Iraqi delegation that included Oil Minister Hussain al-Shahristani and Finance Minister Bayan Jabor, as well as central bank representatives, during a meeting with World Bank officials to discuss Iraq’s budget, Jihad said.

Read more: http://dinarvets.com/forums/index.php?/topic/42812-iraq-2011-budget-bases-on-73-per-barrel-oil-price/#ixzz16ESWvHFk

Iraq inflation rises to 3.2 pct in Oct-c.bank

Iraq inflation rises to 3.2 pct in Oct-c.bank XE.com – [11/23/2010]

Iraq’s core annual inflation rate jumped to 3.2 percent in October from 1.9 percent in September as housing, water, electricity and cooking gas costs increased, an official at the central bank said on Monday.

‘The inflation rate is still under control,’ central bank senior adviser Mudher Kasim said.

Inflation held steady at 1.9 percent in August and September, according to central bank figures.

Read more: http://dinarvets.com/forums/index.php?/topic/42579-iraq-inflation-rises-to-32-pct-in-oct-cbank/#ixzz16ESwZapk

Dabbagh announced Cabinet decisions

2. Approval of the proposed state budget for the year 2011 (after the addition of what was agreed upon), which is made by the Ministry of Finance with the addition of $ 5 billion of investment projects financed through loans from the central bank and the revised version at the next meeting for approval in its final form.

Read more: http://dinarvets.com/forums/index.php?/topic/42568-2011-budget-approval-could-it-be/#ixzz16ETD9UDA

Politics:

Iraqi President Pledges to End Pending Issues With Kuwait

But two decades after the First Gulf War mutual suspicions still prevail

Iraq and Kuwait have signed a border arrangement in a significant move aimed at freeing Baghdad from the UN imposed sanction regime in place since 1990.

Under the new deal, Iraq and Kuwait agreed to create a 500-meter buffer zone on each side of their common 240km border. Kuwait pledged to finance the removal of Iraqi farmers living along the frontier and build 50 homes for them inside Iraq.

The UN Security Council demarcated the territorial border between Iraq and Kuwait in 1993 and it is today patrolled only by border police.

Read more: http://dinarvets.com/forums/index.php?/topic/42733-iraqi-president-to-end-issues-w-kuwait/#ixzz16ETwf11L

Maliki demands for selected ministries for new government

An adviser in the outgoing Iraqi government stated on Wednesday, that the Prime Minister Nouri al-Maliki has ordered the formation of specialized committees to speed up the delivery of ministries for the new government.

Ahmed Shehani, told AKnews, that the committees began working on Wednesday to speed up the process of handing over the ministries and bodies of the present Government to the next Government.

The formed committees include experts and advisers in addition to current ministers who will resolve the present files and give the file of each ministry by one week after the sworn of the prime minister.

Read more: http://dinarvets.com/forums/index.php?/topic/42724-maliki-demands-for-selected-ministries-for-new-government/#ixzz16EUQn17b

President Talabani receives credentials of 5 ambassadors

PUKmedia 2010-11-24 21:02:54
President of Iraq Jalal Talabani received separately credentials of five ambassadors: Italian, Armenian, Romanian, Vatican and Japanese to Iraq in Baghdad. All ambassadors expressed their delightment with being assigned ambassadors to Iraq, hoping they would be able to strengthen joint relations with Iraq in all aspects.
In response, President Talabani congratulated them, wishing success in their assignment.

Read more: http://dinarvets.com/forums/index.php?/topic/42783-president-talabani-receives-credentials-of-5-ambassadors/#ixzz16EUiBj9a

Till next time!

- Adam Montana

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8 Responses to “Latest Iraqi Dinar News”

  1. avatar FloridaChick says:

    Lots of good news Adam… Love the way you sift through and find the important issues regarding our investment.

    As I am reminded that tomorrow is Thanksgiving ~ I want to say that I am thankful for you and all the good people at DinarVets.

    Have a great Holiday ~ You and your family. Blessings to All :)

  2. avatar Jude says:

    Just thought you’d like to see what I found this morning:

    http://www.foxnews.com/world/2010/11/13/iraq-lawmakers-approve-deal-form-new-government/

    In a nitshell, “BAGHDAD — Iraqi lawmakers approved an agreement on Saturday that aims to bring all of Iraq’s feuding political blocs into a new government led by Shiite Prime Minister Nouri al-Maliki, although deep disagreements remain about the role to be played by the country’s minority Sunnis.

    The deal struck this week ended an eight-month impasse that had stalled the formation of a new government and threatened to re-ignite sectarian violence. But the agreement appeared on the brink of collapse almost immediately after it was announced because of the deep-rooted distrust that pervades Iraq’s sectarian politics.”

    There’s more, so follow the link to read the entire article.

  3. avatar Alberto says:

    Happy Thanksginings day to you too Adam. Hopefully Santa brings us RV this Christmas! It will be the best Christmas ever for lots of people.

  4. avatar Mammaw says:

    Adam, Great read. I hope we hear something soon. I hear that M has been given letter to get the Gov. in place with in 30 days. In addition, I am thrilled I didn’t pull my funds out of my Warka account, due to “rumors”. Thanks again, as always, for the update. Happy Holidays.

  5. avatar Matty9 says:

    What’s going on with chapter 7. i haven’t heard anything on this issue and I believe it’s the most important

  6. avatar larry says:

    lots of great news coming out of iraq hopefully it will continue. And we shall see the RV sooner rather than later. God bless all that supply us with the most up to date information in regards to this once in a life time event. merry christmas to all dinar vet friends.
    larry
    BRONX NY
    SEASONS POOLS N SPAS

  7. avatar ahughes says:

    does approval mean …approval of the revalue? it is just stating that the approval of laws , and final placement of lawmakers will be made?

    i am not expecting to getting close to a revalue until next year .. just want to make sure im not missing anything, and if someone could put it in lamens terms for me that’d be great. lol

    im a 23 yr old , single mother, and would love for my investment to pay off right before xmas.

    i realize this whole process is for the well being of iraq, but a lot of people from many different countries will benefit from this also. thats what i hope for anyway..

    looking for the light at the end of the tunnel !!!

  8. avatar Jay says:

    Yes This is sounding very good. I really think this is going to happen very quick and it might be sooner than we think.:)