Iraqi Dinar News – Committee for Economy and Investment parliamentary announced that the deletion of zeros from the Iraqi dinar currency will be working by next year, while the Finance Committee promised to delete the zeros will contribute to raising the value of the Iraqi dinar. The former committee member Abdul-Hussein al-Yasiri (time) yesterday that (lifting of the […]
Iraqi Dinar News – Afraid citizen and government decision is still delayed!! New currency citizen wants a great value and low volume! Still cash transactions in the Iraqi market needs to finance the cash many and the transfer of funds in the form of bags in case of transactions of large, may be the reforms in the […]
Iraqi Dinar News – Last week, the Central Bank of Iraq announced the circulation of new Iraqi dinar banknotes featuring stronger security features in both small and large denominations to make counterfeiting more difficult. According to Ihsan Shamran al-Yasseri, the CBI’s treasury director, there is not much difference in the old and new notes except for the safer, […]
Iraqi Dinar News – Iraq – Tipped the parliamentary Finance Committee, the application of the project to delete the three zeroes from the currency early next year, saying that the current situation is appropriate to implement the project. A member of the Committee Deputy Abdul Hussain al-Yasiri “The central bank has vowed in the past years the application […]
Iraqi Dinar News – Source in the Department issuing currency in the Central Bank of Iraq, the importance of warnings by experts and officials in the government of the existence of counterfeit currency, stressing that the government’s decision last change the Iraqi dinar currency was partly due to the disposal of the signing of former Fed governor Sinan al-Shabibi […]
Iraqi Dinar News – You can not put a quantitative target for foreign currency reserves, as this depends on the government’s request to the Iraqi dinar currency sold by the Central Bank of its dollar made up the reserve, and this demand is determined by the economic activity of the government but is considered a variable externally to the […]
Iraqi Dinar Currency News – An economic expert, Dr. Peace Sumaisem, said that the Iraqi Central Bank’s decision to replace the Iraqi dinar currency is a good step, but it is an inflationary pressure in a period of political tension that is currently taking place in Iraq and with the season approaching parliamentary elections. She moved her office told […]
Iraqi Dinar News – BAGHDAD: A member of the Finance Committee of the Kurdistan Alliance MP, Ahmed Hassan Faidhullah describing printing new banknotes as a waste of time. Faidhullah said in a statement to the National Iraqi News Agency / NINA /: “The Iraqi dinar currency is suitable and there is no need to be replaced.” The […]
Police said a guest at a hotel in Richmond reported the equivalent to thousands of dollars in foreign currency were stolen from the room he had stayed in. A guest of Red Roof Inn reported that 4.65 million in Iraqi Dinar currency, the equivalent of approximately $4,000 in U.S. Dollars, had been stolen from his room on Jan. […]
A federal grand indicted three men from the Toledo area for their roles in the operation of a $23 million fraud scheme involving the sale of Iraqi dinar currency and two non-existent hedge funds, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, and Kathy Enstrom, Special Agent in Charge, IRS-Criminal Investigation, Cincinnati field office. […]
Alsumaria News / Baghdad And the Council of Ministers approved, to convert the purchase amount from the local currency to the U.S. dollar official exchange rate by the Central Bank of Iraq. Said the General Secretariat of the Council of Ministers in a statement received “Alsumaria News”, a copy of “The Council of Ministers held, its thirty-eighth regular […]
Baghdad (newsletter). Chairman of the economic information center said Dergham Mohamed Ali, the Iraqi dinar currency becomes desirable handle internationally after the departure from Iraq of the provisions of Chapter VII of the UN. He Mehmet Ali (News Agency): to exit Iraq from Chapter VII would make the Iraqi currency internationally accepted and more broadly than it is currently, […]
Baghdad – and babysit – attributed member of the parliamentary Finance Committee Haitham Jubouri reasons for the high exchange rates of the dollar against the Iraqi dinar currency to the drain by some private banks, which owns companies for the currency converter. Jubouri said in a press statement that “price-fixing remittances equivalent to two to three times the real price […]
A Jacksonville man pleaded guilty Thursday in an Ohio federal court to a scheme to defraud investors in the sale of Iraqi dinar currency and two non-existent hedge funds, authorities said. Rudolph M. Coenen, 47, pleaded to one count of conspiracy to commit wire fraud, one count of wire fraud and five counts of money laundering. His sentencing is scheduled for […]
UNITED States of America – It can now be reported that trillions of unmarked Iraqi dinar currency is currently being recycled from various worldwide banks, including U.S. Citibank, Wells Fargo, Bank of America, UBS Switzerland, along with the Snakehill Bank of Australia. Reference: There is also a tie in to American International Group (AIG) and its holding company Starr International. […]
A federal grand jury returned an 83-count indictment charging three men from the Toledo area and a Florida man for their roles in the operation of a $24 million fraud scheme involving the sale of Iraqi dinar currency and two non-existent hedge funds, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, and Darryl Williams, Special Agent […]
He Dubai Multi Commodities that the Iraqi dinar currency to attract his attention, pointing out that the quality of the Chinese currency of currencies that can not be excluded The CEO of the Dubai Multi Commodities Ahmed bin Sulayem, in a press statement to the newspaper (statement of economic) that Borse Dubai Gold and Commodities looking forward to the inclusion […]
Baghdad – Mostafa Hashemi said the deputy governor of the Central Bank that the conditions experienced by the neighboring countries do not affect the Iraqi dinar exchange rate. Confirmed the appearance of Mohammed Saleh told (the citizen) that the strength of the Iraqi dinar is derived from a link Iraq to the global economy. He emphasized that the events […]
BAGHDAD – Fulayyih Heidar al-Rubaie Down the dollar exchange rate to what it was a few weeks ago to stand at 1,200 dinars per dollar, and comes at a time deliberately in which the central bank to pump more than 400 thousand dollars to the local market to fill the growing needs of the dollar, which invited him to double […]
There have been several events that have recently occurred in Baghdad. On 17 Sept the al-Iraqiyah TV news station hosted an interview with the Central Bank governor Dr. Sinan al-Shabibi, CBI Advisor Mudher Mohammed Saleh and an unidentified Iraq parliament member. The interview was about the Iraqi dinar currency and the deleting of the three zero’s. The interview lasted about 30 […]
Many investors are taking a hard look at investing in Iraq. Iraq’s Parliament approved Prime Minister Nouri al-Maliki’s 42-member cabinet. Iraq’s growing stability, hard for many to imagine just a few years ago, now sets the stage for economic development and foreign investment. As the security issues are slowly getting resolved, investors are getting closer to taking the next steps to […]
The Recent Iraq 2011 Budget May Have Leaked the Coming Currency Revaluation
Many investors are taking a hard look at investing in Iraq. Iraq’s Parliament approved Prime Minister Nouri al-Maliki’s 42-member cabinet. Iraq’s growing stability, hard for many to imagine just a few years ago, now sets the stage for economic development and foreign investment.
As the security issues are slowly getting resolved, investors are getting closer to taking the next steps to setting up businesses in Iraq. The crude oil sector, building construction, and air transportation sectors are already making great strides, its only a matter of time until other business sectors move into the country.
There are other investors that will continue their investments from outside of Iraq. The Iraqi stock market investors can continue their investments in Iraq with out actually moving there.
The Iraqi dinar currency speculators will also be able to continue their type of investment from outside the country.
The currency speculators may have something good to look forward to in the near term, during the 2011 fiscal year, as a recent article was published either in error, or by accidental leaking of information pointing to a coming new exchange rate. The recent rate of exchange to the US Dollar has been 1170 dinars to one US Dollar.
Here is an excerpt from the recent Iraqi 2011 Budget article that gives possibility to a new exchange rate: “The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget some 93 billion Iraqi dinars (79.6 billion dollars), when calculated per barrel to $ 73 U.S., and the rate of export of 2.25 million barrels per day.”
the recent Iraqi 2011 Budget article:http://iraqdailytimes.com/kurdistan-region-of-iraq-can-afford-ten-thousand-employees-for-their-province/
If you do the math, this indicted value of “93 billion Iraqi dinars (79.6 billion dollars)”, would be equivalent to 1.168 Iraqi Dinars to one US Dollar, or .855 Us Dollars to one Iraqi Dinar.
Later on in the Iraqi 2011 Budget article, two additional references to the speculative exchange rate are again mentioned, which suggests the same rate of exchange outcome.
Now that the budget draft has been approved, how much will this significant change in the exchange rate benefit the 2011 Iraqi Economy?
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