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Patrick88

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  1. Iraq Central Bank to remove three zeroes from Iraqi Dinar Wednesday, April 13, 2011 09:58 GMT Iraq’s Central Bank announced on Tuesday that the project of Iraqi Dinar re-denomination consisting of removing three zeroes is close to completion. The re-denomination project is believed to be a strategic plan that will be passed to the ministerial council and Parliament once complete. The plan to remove three zeroes from the Iraqi Dinar is a strategic plan that the central bank is currently finalizing, Central Bank’s advisor Mothahhar Mohammed Saleh said in a statement to Alsumaria News. This plan aims to alleviate transactions cost and help people carry less money, Saleh said noting that Iraq seeks to produce 6 to 12 oil barrels which is expected to increase the value of Iraqi dinar and boost development, he said. Iraq’s central Bank has managed during the past five years to reduce inflation rates from 34% to 3 or 4% and stabilize Iraqi Dinar exchange, the Central Bank’s advisor told Alsumaria News. In an earlier statement to Alsumaria News, Iraq’s central Bank adviser Mothahhar Mohammed Saleh affirmed that the bank plans to remove three zeroes from the Iraqi Dinar noting that the zeroes which were added to the Iraqi currency previously constituted a large money supply estimated at 27 trillion Iraqi Dinar. Saleh revealed on the other hand that Iraq engages for the first time in banks payment system as it moved from manual to electronic clearance. The system includes six banks in addition to electronic deeds exchange, he said adding that the smart and credit cards will be bound to the central bank system. The Central Bank will form after three years what is known to be as the payments council which sets forth Iraq’s banking protocols and infrastructure, the central bank’s adviser said. Iraqi economists believe the re-denomination of Iraqi Dinar will not have a major influence on the purchasing power of the Iraqi Dinar which the government has hopes high on it. إقرأ هذا المقال باللغة بالعربية Here is the link http://www.alsumaria.tv/en/Economics-News-Iraq/3-62912-Iraq-Central-Bank-to-remove-three-zeroes-from-Iraqi-Dinar.html © 2011 Alsumaria Iraqi Satellite Network
  2. Speculators in Iraqi Dinar Face Importation Risk with Paper Currency Date: 29 December 2010 Contributed by PRWeb "The formation of a government in Iraqi last week has re-energized speculators in the Iraqi Dinar" says David http://iqd.me/l/11 of U.S. Dinar Bank who cautions people that while these recent events are encouraging, people should heed the statements made by the Iraqi Ministry of Finance ?? Iraqi Customs does not permit the entry of IQD currency and will confiscate funds, and that FedEx is not permitted to handle and deliver IQD currency in or out of Iraq?. San Diego, CA (PRWEB) December 29, 2010 "The formation of a government in Iraqi last week has re-enrgized speculators in the Iraqi Dinar" says David http://iqd.me/l/11 of U.S. Dinar Bank who cautions people that while these recent events are encouraging, people should heed the statements made by the Iraqi Ministry of Finance ?? Iraqi Customs does not permit the entry of IQD currency and will confiscate funds, and that FedEx is not permitted to handle and deliver IQD currency in or out of Iraq?. While thousands of U.S. Servicemen, and contractors in Iraqi purchased paper Dinar in anticipation of what appears to be an impending revaluation, they may have overlooked the fact that Iraq currency is a national currency only to be used and handled within the Republic of Iraq and not to be used, circulated, or handled internationally in any way. According to David http://iqd.me/l/11, of US Dinar Bank, http://www.usdinarbank.com, "the statements above illustrate a major risk to investors owning the paper currency of Iraq and it may affect their capability to redeem it at any given time in the future?. He further states that Americans are free to have a bank account and purchase Dinar without taking those Dinar out of Iraq and be compliant with the regulations of the Iraqi government. Mr. http://iqd.me/l/11 and U.S. Dinar Bank facilitate commercial banking relationships for Iraq?s Al Warka Bank. The U.S. Dinar Bank does not handle Iraq?s paper currency in any way. Mr. http://iqd.me/l/11 may be reach by telephone 619- 819-5676.
  3. http://online.wsj.com/article/SB10001424052748703886904576031510722493874.html?mod=googlenews_wsj
  4. Global Capital Launches Iraq Focused Fund December 6, 2010 Global Capital Investments is launching an Iraq-focused fund to capitalize on the country’s stabilizing economy. Chicago-based Kenneth Kuhn, a managing director and longtime currency trader of the Iraqi dinar, began the fund in November to provide better access to Iraq’s financial markets. The fund primarily invests in listed equities on the Iraq Stock Exchange and has already selected about 44 of the 93 stocks on the ISX, according to Reuters. Attractive reasons to invest in Iraq, according to Kuhn, include a dropping interest rate, rising exports, a stabilizing dinar and minimal national debt. “The fund uses a long strategy in a diversified portfolio with an emphasis on the banking sector,” Kuhn told HedgeFund.net. In addition to the banking sector, Kuhn sees vast potential in oil reserves, as well as the agriculture sector which is recovering from the oil-for-food scandal. The Iraq focused fund is still in its fundraising stages with a target of $10 million. The minimum investment is $100,000 and the fee structure is 2% and 20%. “It is the first fund of our firm and we hope to grow other sister companies,” said Kuhn. Source: Google News/Hedge Fund.net
  5. Global Capital Launches Iraq Focused Fund December 6, 2010 Global Capital Investments is launching an Iraq-focused fund to capitalize on the country’s stabilizing economy. Chicago-based Kenneth Kuhn, a managing director and longtime currency trader of the Iraqi dinar, began the fund in November to provide better access to Iraq’s financial markets. The fund primarily invests in listed equities on the Iraq Stock Exchange and has already selected about 44 of the 93 stocks on the ISX, according to Reuters. Attractive reasons to invest in Iraq, according to Kuhn, include a dropping interest rate, rising exports, a stabilizing dinar and minimal national debt. “The fund uses a long strategy in a diversified portfolio with an emphasis on the banking sector,” Kuhn told HedgeFund.net. In addition to the banking sector, Kuhn sees vast potential in oil reserves, as well as the agriculture sector which is recovering from the oil-for-food scandal. The Iraq focused fund is still in its fundraising stages with a target of $10 million. The minimum investment is $100,000 and the fee structure is 2% and 20%. “It is the first fund of our firm and we hope to grow other sister companies,” said Kuhn. Source: Google News/Hedge Fund.net
  6. Global Capital Launches Iraq Focused Fund December 6, 2010 Global Capital Investments is launching an Iraq-focused fund to capitalize on the country’s stabilizing economy. Chicago-based Kenneth Kuhn, a managing director and longtime currency trader of the Iraqi dinar, began the fund in November to provide better access to Iraq’s financial markets. The fund primarily invests in listed equities on the Iraq Stock Exchange and has already selected about 44 of the 93 stocks on the ISX, according to Reuters. Attractive reasons to invest in Iraq, according to Kuhn, include a dropping interest rate, rising exports, a stabilizing dinar and minimal national debt. “The fund uses a long strategy in a diversified portfolio with an emphasis on the banking sector,” Kuhn told HedgeFund.net. In addition to the banking sector, Kuhn sees vast potential in oil reserves, as well as the agriculture sector which is recovering from the oil-for-food scandal. The Iraq focused fund is still in its fundraising stages with a target of $10 million. The minimum investment is $100,000 and the fee structure is 2% and 20%. “It is the first fund of our firm and we hope to grow other sister companies,” said Kuhn. Source: Google News/Hedge Fund.net
  7. Large denominations will be exchanged with lower denominations. Dinar for Dinar. No LOP LINK: http://www.edinarfin...&nm=&ny=&nn=622 Central bank Iraq adviser: Iraqi Dinar will rise against the US dollar in the coming period December 07, 2010 The Chancellor and the economic expert for the appearance of Mohammed’s (morning): The budget deficit is similar to the deficit in the economic structure in general, what calls for attention to processes such as how things can reflect negatively on the economic process in Iraq completely, The Cabinet has recently approved the general budget for Iraq for next year 2011, amounting to $ 83 billion, depending on the value of export of oil amounting to 2.25 million barrels per day and at a price of $ 73 per barrel, but the experts and specialists in the economic forecast to suffer the next budget a deficit of $ 18 billion, which commented upon in favor by saying: not a question of negative to suffer the budget financial deficit, but to see the budget at the end of each year a financial surplus due to non-completion of many plans and projects, and also said: Every time you start the budget deficit , and ending with a surplus … In return, expect the benefit to see the Iraqi dinar remarkable rise against other currencies especially the dollar, explaining that the size of financial returns to the oil, which rose dramatically during the past period compared to past years, as well as the situation called for Palmtdeda [compared] to the dollar in world markets, which can be to contribute according to the Chancellor to raise the value of the Iraqi dinar against the dollar .. The central bank’s long been the deletion of three zeros from Iraqi dinar, in a move designed, according to those concerned to reduce the value of inflation in Iraq, to equality dinar to the dollar, as well as reducing the cluster enormous cash from the Iraqi currency to its lowest limit, however, observers have criticized the move by Galo it is not effective at this time, indicating that the deletion of three zeros from Iraqi dinar will not work to reduce prices or improve quality of life, but it is a switch of the currency only, can not see prices drop because of it as far as saying .. Saleh said the CBI has a lot of policies drawn through auctions currency held by the continuously at the moment, adding that the auction and a means of indirect monetary policy and seeks to achieve three important objectives is to control the levels of liquidity to the Iraqi dinar and also is a means to control the dinar exchange rate against the dollar, as well as being an incubator is important for the financing of private traders who rely on the support of their projects financially through these auctions .. and Abizaid valid reference to that post the most prominent of the currency auction is to achieve economic stability, particularly the reduction of inflation rates, indicating that in addition to for exchange rate stability achieved by the exchange auctions, it is an important means able to achieve substantial financial reserves of Iraq amounted to $ 50 billion.(Source) Currency News Read more:
  8. Large denominations will be exchanged with lower denominations. Dinar for Dinar. No LOP LINK: http://www.edinarfinancial.net/news/?quer=&nm=&ny=&nn=622 Central bank Iraq adviser: Iraqi Dinar will rise against the US dollar in the coming period December 07, 2010 The Chancellor and the economic expert for the appearance of Mohammed’s (morning): The budget deficit is similar to the deficit in the economic structure in general, what calls for attention to processes such as how things can reflect negatively on the economic process in Iraq completely, The Cabinet has recently approved the general budget for Iraq for next year 2011, amounting to $ 83 billion, depending on the value of export of oil amounting to 2.25 million barrels per day and at a price of $ 73 per barrel, but the experts and specialists in the economic forecast to suffer the next budget a deficit of $ 18 billion, which commented upon in favor by saying: not a question of negative to suffer the budget financial deficit, but to see the budget at the end of each year a financial surplus due to non-completion of many plans and projects, and also said: Every time you start the budget deficit , and ending with a surplus … In return, expect the benefit to see the Iraqi dinar remarkable rise against other currencies especially the dollar, explaining that the size of financial returns to the oil, which rose dramatically during the past period compared to past years, as well as the situation called for Palmtdeda [compared] to the dollar in world markets, which can be to contribute according to the Chancellor to raise the value of the Iraqi dinar against the dollar .. The central bank’s long been the deletion of three zeros from Iraqi dinar, in a move designed, according to those concerned to reduce the value of inflation in Iraq, to equality dinar to the dollar, as well as reducing the cluster enormous cash from the Iraqi currency to its lowest limit, however, observers have criticized the move by Galo it is not effective at this time, indicating that the deletion of three zeros from Iraqi dinar will not work to reduce prices or improve quality of life, but it is a switch of the currency only, can not see prices drop because of it as far as saying .. Saleh said the CBI has a lot of policies drawn through auctions currency held by the continuously at the moment, adding that the auction and a means of indirect monetary policy and seeks to achieve three important objectives is to control the levels of liquidity to the Iraqi dinar and also is a means to control the dinar exchange rate against the dollar, as well as being an incubator is important for the financing of private traders who rely on the support of their projects financially through these auctions .. and Abizaid valid reference to that post the most prominent of the currency auction is to achieve economic stability, particularly the reduction of inflation rates, indicating that in addition to for exchange rate stability achieved by the exchange auctions, it is an important means able to achieve substantial financial reserves of Iraq amounted to $ 50 billion.(Source) Currency News
  9. http://www.iraq-businessnews.com/2010/09/25/redenomination-an-unlikely-priority-for-the-cbi/ Posted on 25 September 2010. Tags: CBI, iraqi dinar, Redenomination Earlier this month it was reported that the Central Bank of Iraq (CBI) might redenominate the Iraqi dinar after the new government is formed, exchanging one new dinar for 1,000 old. (For more on this story, see http://www.iraq-businessnews.com/2010/09/14/central-bank-wants-to-drop-zeros-from-iraqi-dinar/.) While such a redenomination would obviously help to simplify transactions and record keeping, it is not clear that these benefits would be sufficient to justify the costs, both to the government and the economy as a whole, of switching to a new currency. It’s not even true that all transactions would be simplified. Consider the ISX, for example, where stocks have a ID 1 par value and most of the share prices tend to be in the ID 1 – 30 range. While the redenomination is usually presented as a matter of “knocking off three zeros,” in the case of a name like BCOI, which last traded at ID 1.38, you’d actually be “tacking on” three zeros as the price in the new currency would be 0.00138. Would the companies then have to consolidate their shares, replacing every 1,000 old shares with 1 new one? In any event, it’s not really clear why the CBI would choose to redenominate the dinar at this time. Historically, redenomination has typically been done either as part of “heterodox” inflation-fighting programs or, more rarely, as a way of expropriating wealth. (Heterodox programs are designed to lower the public’s inflation expectations, mainly through administrative measures such as wage/price controls.) For example, episodes of hyperinflation led to the introduction of the Argentine peso, which replaced the austral at a rate of 1:10,000 in December, 1991 and the Brazilian real, which replaced the cruzeiro real at a rate of 1:2,750 in July, 1994. More recently, North Korea replaced existing won notes with new ones at a rate of 1:100 last November, capping exchanges at W 100,000 per family (about US$ 40 at black-market rates), with the evident intent of wiping out free-market traders. With Iraqi inflation now in the low single digits and, as far as we know, the government not out to expropriate anyone’s cash holdings, it’s hard to see why redenomination would be a priority. And indeed the disadvantages of having three extra zeros to deal with aren’t all that clear either. Think of the South Korean won, which at 1,150 to one US dollar is worth about ID 1.03. Does anyone really think there would be big benefits to the Korean economy from “knocking off” three zeros from the currency?
  10. The reason I picked $.10 was because thats what Kuwait Dinar was worth after the invasion. I really dont think Iraq Dinar will be much different on DAY 1. However, the good news is that 1 Kuwait Dinar is now worth $4.00
  11. Now my broker is selling 1 million dinar it for $995. Thats a 13.71% increase. Better then bank interest rates.
  12. What do you think? I know you want $1.00 but be realistic. $.05 $.10 (my pick) $.25 $.50 $.75 $1.00
  13. Based on your scenario, its time for me to take my Dinar and put them in a Warka account. That way I dont have to worry about missing the RV.
  14. So if I QUICKLY exchange my 25,000 dinar for 250 new 100 dinar notes Im ok. If I hold then my 25,000 dinar ends up only with 25 new dinar? Is this correct?
  15. When you say "destroyed" do you mean exchanged? So if I have a 25,000 iraqi dinar, I will get for example 250 100 notes (dinars)?
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