Archive for the ‘Iraq news’ Category

Dollar sales down oh no!

Not a lot on the news-radar, so I’m posting this for you today. Aswat Al-Iraq posts that demand for the dollar is down to $120MM (120 Million USD) from the previous session, which reached USD$140.017MM.

The sale was covered at the usual exchange of 1170 IQD per USD… consistant, to say the least. Those of you who follow the exchange rate know that number well.

Source: April 5 Aswat al-Iraq news.

Iraq Parliament to fund 96 F16 fighter jets

Squadron of F16s to be added to Iraq Airforce this year.

Squadron of F16s to be added to Iraq Airforce this year.

In an interview with Reuters, Lt. Gen. Anwar Ahmed (head of Iraqi Air Force) announced plans to obtain 96 f-16 fighter jets through 2020. An initial squadron is desired this year alone to assist in preventing threats from Iran and Syria as US troops are pulling out of Iraq.

Source: alsumaria.tv

Rates cut to 9% to spur growth by Iraq banks

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!

Power stations in Karbala Iraq being installed by US firm

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

Iraqi PB Denies 2009 Federal Budget

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.

Source: http://en.aswataliraq.info/?p=110513

CBI website still down, news of auction from other sources…

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.

Economic forum in Iraq wraps up…

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 24 – Vice President Tareq al-Hashemi calls for resolving the controversy

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.