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View Full Version : Perhaps an odd question.....

justme
08-23-2004, 08:44 PM
Ok, first today I read that the oil field lines are stable in Iraq. However I looked at the currency converter today on iccfx and it was down to 1480 anyone have a clue as to waz up with that?

justme
highrollr19
08-23-2004, 09:59 PM
I am not familiar with ICFX?? I would suggest sticking with the currency converter at the Central Bank Of Iraq. They are the ones who have daily auctions to set the prices, and they have been stable at 1460 for some time now!
justme
08-23-2004, 10:04 PM
It is http://www.iccfx.com it was the first site that folks on this board referred me to. I do check the status daily of the CBI. Just thoughtperhaps someone would know why it has changed form 1465 to 1481 on the iccfx over the past day.
highrollr19
08-23-2004, 10:08 PM
I have no idea... but small fluctuations have also been seen on other currency converters. Such small fluctuations mean nothing at the time being, and won't mean anything until the World Bank returns and places the dinar back on the world market. Until then, any currency converter (including the CBI) is simply a guess at the value at the time being! If you look at NBK, it has the dinar at something aroun 1200. So, for the time being... don't worry. Once it is on the world market, you will find the same rate on ICCFX, Forex, Bloomberg, Yahoo, and CBI!
Marilyn
08-23-2004, 10:56 PM
There are several Forex traders that list the iraqi dinar and show some fluctuations throughout the day. XE is another one like that... no one ever called them to ask why it fluctuates several times a day...
http://www.xe.com/ucc/full.shtml


The Official Rate for the Iraqi Dinar is determined by the Central Bank of Iraq. They hold daily auctions...
http://www.cbiraq.org/