Nbk - 1 Usd = 1,159

[JJLL]

I know that the National Bank of Kuwait has been dealing in IQD but the exchange rate is quite different than what the CBI posts.

http://www.nbk.com/NBK/TopBar/Rates/rates.htm

Anyone near a NBK branch to verify?

[rurockin]

Why would that rate be unusual. The Kuwait bank makes more money off of a person coming in and exchangeing money. On top of whatever they charge as a fee for doing the exchange itself.

[buck74]

I guess the question would be is this rate they buy or sell dinars. This is the same question that I had last week when people were talking about this as some sort of proof of a pending rv. If this is what they sell dinars at, it means nothing. they are getting a profit mark up on the product (currency) they sell.

[eatrocks]

well technically, Kuwait has it out for Iraq, they aren't friends at all for sure

even though their bordered with Iraq, mark the rate up in their favor to profit
they have 'cause' to do so

[Blue Sky]

I know that the National Bank of Kuwait has been dealing in IQD but the exchange rate is quite different than what the CBI posts.

http://www.nbk.com/NBK/TopBar/Rates/rates.htm

Anyone near a NBK branch to verify?

This is for Kuwaiti Dinar not Iraqi Dinar. Read the article.

http://www.americancontractor.com/20...r_warning.html

[eatrocks]

This is for Kuwaiti Dinar not Iraqi Dinar. Read the article.

http://www.americancontractor.com/20...r_warning.html

no, this is for the buying rates for IRAQI dinar, IN kuwait

also on your article, kuwait said that, then a week later they raised the rates, kuwait tried to scare speculators into cashing in

[BILLYG]

Nothing mor than standard "usery" fees. JMO

[ramacow2545]

I work in Kuwait and I bank with with NBK. On their currency exchange rate
chart under NID they have a sell rate in USD and KD, there is not buy rate yet. They will open up a account in Iraq bank for you, but you have to have an account with NBK first. Once you have that account they will sell you the NID. you can not walk into the bank and hand them NID and ask them to deposit them in your Iraq account.

[ramacow2545]

Yes the sell rate is 1159 = 1 USD 0R $862.80 a millon. In Kuwait Dinars A
million sells for 248.500 KD.

[ramacow2545]

IF I buy at the currency exchange shops it is only 240KD ABOUT 25.90$ CHEAPER. HOPE SOMETHING COMES UP POSITIVE THIS WEEKEND. THE BANKS IN KUWAIT OPEN UP ON SUNDAY MORNING AND CLOSED TODAY AT 1PM. THAT IS THERE BANKING WEEKEND OFF, EVERY WEEKEND

[JJLL]

Why would that rate be unusual. The Kuwait bank makes more money off of a person coming in and exchangeing money. On top of whatever they charge as a fee for doing the exchange itself.

I understand that banks make money off of the exchange of foreign currency, this just struck me as being odd.

If it is just an exchange fee from the bank then WOW, thats a 113 point spread!

[Bond....james bond]

Eatrock,

Good point, Kuwait and Iraq are not allies!! So I'm sure the Kuwaities would over inflate the NID to pull some money in......

[shevaub]

This is for Kuwaiti Dinar not Iraqi Dinar. Read the article.

http://www.americancontractor.com/20...r_warning.html

hic :lmao:

[haggisbasher]

I guess the question would be is this rate they buy or sell dinars. This is the same question that I had last week when people were talking about this as some sort of proof of a pending rv. If this is what they sell dinars at, it means nothing. they are getting a profit mark up on the product (currency) they sell.

Hey B74,I think now that the CBI IQD rates are almost the same as that of the NBK rates,and what ever the NBK sets its new IQD exchange rate will be a good indicator as to what the CBI sets it rate for the coming year,
As the NBK own the CredBI.they will be privey to this info.
HB

[haggisbasher]

I know that the National Bank of Kuwait has been dealing in IQD but the exchange rate is quite different than what the CBI posts.

http://www.nbk.com/NBK/TopBar/Rates/rates.htm

Anyone near a NBK branch to verify?

JJLL,This is todays NBK exchange rate,will be keeping an eye on it.

[BNZI]

This is for Kuwaiti Dinar not Iraqi Dinar. Read the article.

If you want to sell me 1100 Kuwaiti Dinar for $1, I'm ready and waiting!!!!!

Even 1 for 1 would be pretty good too!!!

[haggisbasher]

I know that the National Bank of Kuwait has been dealing in IQD but the exchange rate is quite different than what the CBI posts.

http://www.nbk.com/NBK/TopBar/Rates/rates.htm

Anyone near a NBK branch to verify?

Hey JJLL,Looks like the IQD is gaining on the NBK exchange rates again,i think by the end of trade on Thursday the IQD will be in the low 1,000 range,wot do you think.