PDA

View Full Version : Raise The Price Of The Iraqi Dinar Against The Dollar As Possible



BatmaninIraq
12-13-2012, 07:21 PM
Posted: December 13, 2012 in Iraqi Dinar/Politics (http://thecurrencynewshound.com/category/iraqi-dinarpolitics/)
BAGHDAD – Iraq News Network: parliamentary Finance Committee confirmed on Thursday that the situation of the Iraqi dinar against the U.S. dollar is stable, noting that raise the price against the dollar was possible.

A member of the Finance Committee secretary Hadi said that “the central bank administered by the new managed to control the situation and stabilize the exchange rate after witnessed tension during the crisis raised against the previous administration and suspicions of corruption that kept the bank governor and his deputy and a group of employees, but the situation this period has become more stable. “

He added that “the central bank governor received authorization to raise the price of the dinar safety of the dollar due to the fact that the option mentioned possible at the present time as well as the presence of the bank’s intentions to raise the value of the Iraqi dinar long as previous years have seen a rise in value against the dollar.”

He pointed out that “the central bank governor will have the option under this authorization in choosing the appropriate time to raise the price of the dinar and it will determine when and how this step is done based on his experience in his field.”

Captain Kirk
12-13-2012, 09:10 PM
Thanks for the post Batman. :cool:

PennStateMtnMan
12-14-2012, 04:12 AM
Thanks Batman, do you have the link to the article?

BatmaninIraq
12-14-2012, 04:56 AM
Thanks Batman, do you have the link to the article?

http://thecurrencynewshound.com/2012/12/13/raise-the-price-of-the-iraqi-dinar-against-the-dollar-as-possible/

Dinar Index
12-14-2012, 05:14 PM
Nice one Batman!!
Jan 1st is looking good!!!

PennStateMtnMan
12-14-2012, 07:54 PM
http://thecurrencynewshound.com/2012/12/13/raise-the-price-of-the-iraqi-dinar-against-the-dollar-as-possible/

Thank you Batman.

Fishindinar
12-14-2012, 07:55 PM
Waiting for the chorus of loppers, are we having fun yet??

haggisbasher
12-15-2012, 11:37 AM
If only,if only,been waiting since 2005, suppose we can wait a little longer,feel a upbeat now,all i need is Warka to start trading again so com'on DINAR get in there.

IRAQISTEVE1
12-15-2012, 03:45 PM
Waiting for the chorus of loppers, are we having fun yet??

"It's beginning to look a LOP like Christmas......every where we go"....

baz
12-15-2012, 04:08 PM
"It's beginning to look a LOP like Christmas......every where we go"....


Now that is a good one Steve...think we are going to struggle to LOP that one.

Barbara919
12-15-2012, 05:49 PM
Thanks for the update Batman!

Fishindinar
12-15-2012, 08:47 PM
Suppose Maliki raised the value significantly should we make a mad dash to exchange in the event the rest of the world may not readily accept the new value?

PennStateMtnMan
12-15-2012, 09:17 PM
Suppose Maliki raised the value significantly should we make a mad dash to exchange in the event the rest of the world may not readily accept the new value?

I have had a value in my head since I got mine in 2004. It is no where near what the pumpers and dreamers have been saying. If we hit that mark, I am trading everything in and not looking back. I could care less what the rest of the world is doing.

RoyalBeluga
12-15-2012, 10:16 PM
What's that mark?

PennStateMtnMan
12-16-2012, 01:36 PM
What's that mark?

A lot less than the pipe dreams I have seen by many people. I purchased the dinar when it first came out for 600 dollars per million. When we hit a half a penny, it is gone.

Fishindinar
12-16-2012, 02:07 PM
That's pretty much break even point for you.

calstar
12-16-2012, 02:26 PM
"It's beginning to look a LOP like Christmas......every where we go"....

And can't wait to get them chocolates. lol I didnt forget.

IRAQISTEVE1
12-16-2012, 04:48 PM
And can't wait to get them chocolates. lol I didnt forget.

Just for that...........I hope the Falcons lose today Calstar;)

PennStateMtnMan
12-17-2012, 02:35 AM
That's pretty much break even point for you.

I don't know about your fuzzy math, but mine says if I cash out at a half a penny, then I turned 6k into 50k. That is pretty far from break even.

afnasb
12-17-2012, 05:31 AM
are they going to change the currency....

Templar62
12-20-2012, 02:14 AM
Hopefully something will happen in 2013.
And the more you become aware of the unknown self - if you become aware of it - the more you realize that it is inseparably connected with everything else that is.-Allan Watts-

baz
12-20-2012, 07:41 AM
are they going to change the currency....

Yes into the English Pound Sterling, for every One Iraq Dinar you will get three English Pounds.

Had to one good reason to be English and live in this hell hole.

Oldtimer61
12-24-2012, 11:17 PM
iT IS WHAT IT IS!

millionairetobe71
01-01-2013, 03:45 PM
I don't believe anything will take place in 2013....if anything, maybe the Kirkuk oil standoff may reach a feasible agreement....maybe...
Look, all the Old Timers have been waiting for many years waiting for something positive to come from Iraq. Yes, big strides has been made, but still, is not enough yet, to make our investment worthy.


Take for example the HCL....how long have we been waiting for these laws to be passed? More years than anyone could imagine..... Matter fact I still remember Gen Lloyd Austin (I sat right below him)..briefing Gen Petreaus about those laws....with the same answer over and over "Sir, HCL, No Change"....and HCL, in my opinion, is a very critical element necessary to factor into the, not only the economy, but any monetary policies in Iraq. Once I see the HCL being actually worked on, then I can say..."Yeap guys and gals!...now we are getting closer."!!


So, as I have been said in the past, right and in the future....this investment WILL pay off....its that it will take a long time before we can actually see the progress.


Another thing that still puzzles me, which some people agree, some disagree....but IF there is a lop, and the dinar is dropped the three zeroes....according to some self made analysts in this forum, is the notion that the stock market prices will be reassess to be measured in fractions...for example, how would a stock that is valued at 1.45 IQD will be priced after a "lop"?....would it be something like .00145 IQD?....In my opinion, that would make it the cheapest stock in the planet.... Would you think the iraqis would even consider that as an option?.....me, knowing a little bit about their culture, the answer will be "hell no!.."....especially when they know that foreign investors have their eyes in their business....


So, it is my theory that one large part for the IQD not reval yet, is the Kirkuk oil issue, the HCL issue, and how the CBI would standardize the ISX....while those three elements are not resolved yet, I dont believe we will see any major movement anytime soon..


Again, all the above is IMHO....
MTB71

Lonestar
01-01-2013, 05:12 PM
MTB I feel very confident with your assessment of the Iraqi opinion of the lop vs. stock prices and the peoples opinion of them doing that having been there amongst them for the time I was but I do feel strides have been made and strategies have been in place for some time and the original post gives permission I believe to make a move. I do not think it will be as large or as long as people expect at first but it will move in 2013

Screaming Eagle
01-01-2013, 05:56 PM
A stock worth 1.45 IQD is worth $0.0012435. 1.45/1166=0.0012435

After a 3 zero lop the .00145 lopped dinar will stil be worth only $0.0012435. .00145/1.166=0.0012345

The value of the stock does not change either up or down, it remains the same.

millionairetobe71
01-02-2013, 01:02 AM
A stock worth 1.45 IQD is worth $0.0012435. 1.45/1166=0.0012435

After a 3 zero lop the .00145 lopped dinar will stil be worth only $0.0012435. .00145/1.166=0.0012345

The value of the stock does not change either up or down, it remains the same.

My friend....well...ok...so the price of the stock will remain the same...at US $...no changes....ok...so 1.45 dinar will remain the same after the lop (if that was the scenario)....how would you explain to the average iraqi that their stock, that was previously priced at 1.45IQD, it has changed to .00145? That is where the problem will happen. See, the large majority of the iraqis are not that educated...and the CBI and the ISX folks knows that..... Remember, back then, A stock that uses to cost 1 dinar it was valued at 1 dinar. After the currency changed to the addition of three zeros, you don't see stocks values as such, means, with three zeros....They are still, to this day, are valued at single, single and a change, and double digits. The averages iraqis most likely expect that. And if tell the average Mohammed stocks worth with a whole bunch of decimals and zeros.....believe me...they will not take it softly or quietly either. And I am pretty sure those folks are well aware of it....


MTB71

millionairetobe71
01-02-2013, 01:15 AM
MTB I feel very confident with your assessment of the Iraqi opinion of the lop vs. stock prices and the peoples opinion of them doing that having been there amongst them for the time I was but I do feel strides have been made and strategies have been in place for some time and the original post gives permission I believe to make a move. I do not think it will be as large or as long as people expect at first but it will move in 2013

My friend, with all my due respects.....but I will not hold my breath yet...many many moons ago I was saying to those who repeteadly exclamated that Reval was pending that it wont happen until the aforementioned issues were clarified and resolved....while those issues are still lingering, I don't believe we will have anything that will make me jump up or down in extreme joy and happiness....we may, we might shall I say, see some sort of agreements in principles, but if anything was going to move in the right direction, it is my opinion that it may.....mmmaaaayyy happen about 2015 or 2016....not earlier than that...

Homestly speaking, besides the yapping and yapping and yapping, which is very commong among iraqis....what significant stride has been made?.... And I mean, really really significant? The only significant progress I have noticed so far is the "Your Highenest, The SelfMade, Mix with Water Super Gurus Know it All Tag Team" has been less vocal in their baseless and completely senseless fantasy-prophecies.....other than that...what you think is an actual stride been made already


MTB71

Screaming Eagle
01-02-2013, 02:54 AM
My friend....well...ok...so the price of the stock will remain the same...at US $...no changes....ok...so 1.45 dinar will remain the same after the lop (if that was the scenario)....how would you explain to the average iraqi that their stock, that was previously priced at 1.45IQD, it has changed to .00145? That is where the problem will happen. See, the large majority of the iraqis are not that educated...and the CBI and the ISX folks knows that..... Remember, back then, A stock that uses to cost 1 dinar it was valued at 1 dinar. After the currency changed to the addition of three zeros, you don't see stocks values as such, means, with three zeros....They are still, to this day, are valued at single, single and a change, and double digits. The averages iraqis most likely expect that. And if tell the average Mohammed stocks worth with a whole bunch of decimals and zeros.....believe me...they will not take it softly or quietly either. And I am pretty sure those folks are well aware of it....


MTB71 It will not be a problem, Iraqis' are use to changes in the market value of the dinar. Most of them trade with money changers where the dinar market rate changes every day while the official rate is set at 1166. They count and trade much more currency at lesser value than most countries in the world. Also the CBI has been educating the Iraq public on a redenomination or lop for the last 4 years. The CBI has given at least 50 interviews in the last 3 years explaining that the currency will be redenominated and the value will not change.

If you have stock worth 25,000 dinar or a 25,000 dinar note it is worth $21.55 the rate is 1166.

If you lop the dinar note to 25 by removing 3 zeros it will still be worth $21.55 and the rate 1.166. Doesn't affect the value of the stock at all. Its is still worth $21.55. They have already stated that that they will issue the 25 dinar note and that it will take the place of the 25,000 dinar note and they will have the same value and be in circulation at the same time with the same value until the 25,000 dinar notes are withdrawn. The CBI determines the value of the dinar not the stock market.

This is not something new as at least 60 countries have lopped or redenominated their currencies in the last 30 years. Some several times.

Fishindinar
01-02-2013, 12:36 PM
Really!! Not again. Don't you just love circular conversations, they go around and around with no end insight.

English Bob
01-03-2013, 03:23 PM
It will not be a problem, Iraqis' are use to changes in the market value of the dinar. Most of them trade with money changers where the dinar market rate changes every day while the official rate is set at 1166. They count and trade much more currency at lesser value than most countries in the world. Also the CBI has been educating the Iraq public on a redenomination or lop for the last 4 years. The CBI has given at least 50 interviews in the last 3 years explaining that the currency will be redenominated and the value will not change.

If you have stock worth 25,000 dinar or a 25,000 dinar note it is worth $21.55 the rate is 1166.

If you lop the dinar note to 25 by removing 3 zeros it will still be worth $21.55 and the rate 1.166. Doesn't affect the value of the stock at all. Its is still worth $21.55. They have already stated that that they will issue the 25 dinar note and that it will take the place of the 25,000 dinar note and they will have the same value and be in circulation at the same time with the same value until the 25,000 dinar notes are withdrawn. The CBI determines the value of the dinar not the stock market.

This is not something new as at least 60 countries have lopped or redenominated their currencies in the last 30 years. Some several times.


Happy New Year SE

Glad you still trying to keep them straight!

EB

Screaming Eagle
01-03-2013, 08:07 PM
Happy New Year SE

Glad you still trying to keep them straight!

EBJust posted a fact, not interested in keeping anybody straight. However lops have been occurring by CB's for many years. You can find a few here

http://en.wikipedia.org/wiki/Redenomination

Nice to hear from you and have a very Good and Happy New Year

SE

Dinar Index
01-03-2013, 09:54 PM
Your right SE lops have occurred, however REVALUATIONS have also been happening by CB's for many years...just posting a fact!!!

WhiteFeather
01-04-2013, 01:11 AM
“The dinar scam is still a scam.”

Screaming Eagle
01-04-2013, 01:32 AM
Your right SE lops have occurred, however REVALUATIONS have also been happening by CB's for many years...just posting a fact!!!Some by CB's however free market currencies are revalued every day and constantly as every trade is either appreciation or depreciation. You can view the revaluation history of any major currency just by viewing the history of its index chart.

dollar index: http://www.tradingeconomics.com/united-states/currency
pound index: http://en.unciatrends.com/british-pound-trade-weighted-index/

Or you can just go to any FX chart site and view any historical or daily chart for most currencies. http://www.dailyfx.com/?engine=google+dailyfx&adg=forex+related&CMP=SFS-70160000000OpK7AAK

For fixed or pegged currencies you simply check their CBI site for the exchange rate however they do not change often and then only by slow appreciation or depreciation.

The IQD has had a appreciation or revaluation phase 2003-2004. The dinar was revalued by slow appreciation over ~9 years from ~ 1465 dinar to 1166 dinar or a ~ change of 299 dinar or about a 21% change over the last 9 years . The question is did you make any money. in 2003 if you brought 14,650 dinar for a $1000 and you did not have any commissions and could sell it today at 1166 rate you would have ~ $1256. Now with this great reevaluation did you make any money? Gas in 2003 was $1.59 and today its over $3.00 so in that case your revalue was 215 and your inflation 50% so if you used your new dollars to buy gas you would lose ~29% on your investment. Here is a chart for 2003 food prices. http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/sdd8243 See for your self if the dinar revaluation has offset the inflation of the dollar for the price of goods today. Some that will pay commissions on buying and selling could be down over 50%.

A quick check or currency charts will show that most revalues are very small and I would guess that you will not find one over a couple of pennies in a day. Good luck with a revaluation.

English Bob
01-04-2013, 04:32 PM
Just posted a fact, not interested in keeping anybody straight. However lops have been occurring by CB's for many years. You can find a few here

http://en.wikipedia.org/wiki/Redenomination

Nice to hear from you and have a very Good and Happy New Year

SE


Ok, keeping peeps on the straight and narrow with facts LOL

Thanks SE

EB

millionairetobe71
01-07-2013, 01:01 AM
SE,

Is good info you put out here. And in my opinion, I still think that the iraqis won't digest too well that their stocks would be perceive as having a very weak monetary value. Take for example, you have stocks in X Puppets for Iraq Company. You have 25,000 stocks valued at 25,000 dinars, 1 stock=1 dinar. The dinar redenominates to the following 25,000 stocks totaling 25 dinars...because I can only imagine that the stock numbers won't change, but the price will.....would that be a correct assumption?......or the number of stocks would be dealt with like the dinar value....25 dinars (new value) = 25 stocks. Otherwise each stock will be value as follows, 25,000 stocks, new redenomination value 25 dinars = new stock value .001 IQD....

Please enlight me... :confused:


MTB71

Screaming Eagle
01-07-2013, 12:36 PM
SE,

Is good info you put out here. And in my opinion, I still think that the iraqis won't digest too well that their stocks would be perceive as having a very weak monetary value. Take for example, you have stocks in X Puppets for Iraq Company. You have 25,000 stocks valued at 25,000 dinars, 1 stock=1 dinar. The dinar redenominates to the following 25,000 stocks totaling 25 dinars...because I can only imagine that the stock numbers won't change, but the price will.....would that be a correct assumption?......or the number of stocks would be dealt with like the dinar value....25 dinars (new value) = 25 stocks. Otherwise each stock will be value as follows, 25,000 stocks, new redenomination value 25 dinars = new stock value .001 IQD....

Please enlight me... :confused:


MTB71They have been educated to a lop and a discussion of the pros and cons by the CBI for three years. However before a lop occurs The aspects and pacifies will be published well ahead of the lop as it is done in other countries to keep the public informed. You will not just wake up one morning and find out that that Iraq just redenominated their currency in the secrecy of night. What would be the propose. Here you will find the aspects of Venezuela redenomination published before their lop.

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&ved=0CDUQFjAA&url=http%3A%2F%2F200.74.197.143%2Fenglishversion%2 Fpdf%2Ffundamentalscurrencyredenomination.pdf&ei=d8XqUMCpIcWL0QGV_YCgBg&usg=AFQjCNGdUCAwYLuno-3o5SiF0g1427FD7w&bvm=bv.1355534169,d.dmQ

Iraq's fundamental aspects will be much the same. The last thing any central bank wishes is confusion concerning the currency.

The CBI does not make the rules for the ISX, The ISX does and will decide how to proceed. Companies decide how much stock they will issue. If the dinar of a one dinar stock is lopped the stock price will be 1 dinar or .001 dinar during transition. Their are several ways the ISX might handle a three zero lop. They might issue a rule for the lowest stock price to be traded or they might simply request that companies do a reverse split to keep the cost the same. If a stock is 1 dinar and the dinar lopped the stock price but not the value would change to .001 dinar. In that case the ISX or the company might decide on a reverse split of stock of 1000 to 1 so that if you own 1000 shares of stock at .001 dinar they will withdraw the 1000 shares and issue I new share at 1 dinar. No value of your stock changes.

Remember that when the stock was issue it was issued with a price in mind and that price was commeasured with the currency in circulation. They will keep it that way. Just like the currency which has too much dinar in circulation at a too low value per dinar their or too many stocks in circulation at too low value per stock. They will make the stock value commeasure with the dinar value,

Rick67
01-18-2013, 08:39 PM
I can't confirm this as the CBI is closed today, so this should probably go right to the rumor area until confirmed. Maybe someone here can help me prove or disprove this one:

Iraqi dinar exchange rate for the day
Dollar: 0.9Euro: 0.6 Pounds: 0.5LBP: 1292.7KD: 0.2SR: 3.2AED: 3.2JD: 0.6

http://www.almadapaper.net/ar/

Oldtimer61
04-13-2013, 07:03 PM
Nice one Batman!!
Jan 1st is looking good!!!

Came and went.. LOL