Exchange Rate 3/15/2007 is 1277

[Paulette]

Announcement No.(884)

D.G. of Foreign Exchange Control

The 884 daily currency auction was held in the Central Bank of Iraq day Thursday 2007/ 3/ 15 so the results were as follows :

Details Notes
Number of banks 17 -----
Auction price selling dinar / US $ 1277 -----
Auction price buying dinar / US $ 1275 -----
Amount sold at auction price (US $) 79.140.000 -----
Amount purchased at Auction price (US $) 310.000
Total offers for buying (US $) 79.140.000 -----
Total offers for selling (US $) 310.000 -----

[Garf]

Still a thousand times higher than I would like :)

[esettles]

I calculated how long it will take to get to a 1:1 ratio at 2 pips per week. I came up with 127 years.

[Adster]

I calculated how long it will take to get to a 1:1 ratio at 2 pips per week. I came up with 127 years.

Excellent, nice happy enthusiastic observation. :rolleyes:

[morganator50]

more like 12...better check that calculator again

[esettles]

more like 12...better check that calculator again

Thanks for the correction that makes me feel better. I have been awake too long. I too am hoping for a reval very soon however these two pips a week are a bummer right now. I do have faith however and I am here for the long haul. Didn't mean to drag anyone down.

[Squiggy]

No question it's a little bit of a drag, but at least it's not going in reverse! Sure was fun when that junk was moving 10 bucks a whack. Someone put the breaks on obviously. The only reasonable explination is that they decided the timing isn't quite right yet. The real question is, if the timing isn't right why did they start moving the rate in October? There are two possible explinations: (a) The movement was a signal to the in-crowd to 'get ready' or (b) It was premature and a mistake.

[sebastian]

Thanks for the correction that makes me feel better. I have been awake too long. I too am hoping for a reval very soon however these two pips a week are a bummer right now. I do have faith however and I am here for the long haul. Didn't mean to drag anyone down.

before you get bummed out too much, consider this; what other investment out there can get you $1 mil in 12 years with an $800.00 investment?

[Lord Dinar]

Excellent, nice happy enthusiastic observation. :rolleyes:


Nothing for nothing but I don't see a good reason to be enthusiastic at this time regarding whats going on. The pace is extremely slow. It would be nice to see a reval at least by the end of June. The way its going so far, I'm not too sure on that either. Best is to hang on on what dinar we have and go for the long shot. The Iraqi government wants to shake out as many speculators as possible before this thing revals. IMO

[Mosul Mortar Dodger]

Atleast the rate is going in the right direction:wave:

[JPmonopoly]

why would they put out a statement saying they will continue to raise the rate of the dinar?

seems to me that wouldnt shake out any speculation!

all I know is


I'm Really Bored!!!!
:rolleye03 with 1270's

[Crow]

I posted this before.I feel it is very possible the exchange rate might move very little at this time.The CBI strategy could be to draw speculative dinar back into Iraq,and slow dinar speculation in physical cash.With FIL enacted and the ISX open,plus good bank rates dinar will come back into Iraq and into interest accounts and ISX.I now feel that the projected rate of 1000 to 1 by years end is very possible,the CBI will make it hard to sit tight with cash outside Iraq.Just my thoughts.CROW

[AJOB]

Announcement No.(884)

D.G. of Foreign Exchange Control

The 884 daily currency auction was held in the Central Bank of Iraq day Thursday 2007/ 3/ 15 so the results were as follows :

Details Notes
Number of banks 17 -----
Auction price selling dinar / US $ 1277 -----
Auction price buying dinar / US $ 1275 -----
Amount sold at auction price (US $) 79.140.000 -----
Amount purchased at Auction price (US $) 310.000
Total offers for buying (US $) 79.140.000 -----
Total offers for selling (US $) 310.000 -----

there you go , now your talking.... I can see what they were talking about when they said they are going to improve the Dinar in the coming sessions. NOT!!!!:no: :no: :no: :no:

[Lord Dinar]

why would they put out a statement saying they will continue to raise the rate of the dinar?

seems to me that wouldnt shake out any speculation!

all I know is


I'm Really Bored!!!!
:rolleye03 with 1270's


Yea sure, thats what they said.... I don't see much being DONE!!!

[Crow]

I posted this before.I feel it is very possible the exchange rate might move very little at this time.The CBI strategy could be to draw speculative dinar back into Iraq,and slow dinar speculation in physical cash.With FIL enacted and the ISX open,plus good bank rates dinar will come back into Iraq and into interest accounts and ISX.I now feel that the projected rate of 1000 to 1 by years end is very possible,the CBI will make it hard to sit tight with cash outside Iraq.Just my thoughts.CROW

When asked now about potential dinar investment,I do not recommend physical cash,only accounts and ISX.Soon when the FIL is fully enacted there will be many banks and brokers to choose from ( I myself will stay with Warka) it just makes sense to get interest and still have the dinar play,investments change you just have to go with it.I also know the "big R/V will never die" and that's good,and yes the rate will rise over time.CROW